बैं क ऑफ इं डिया /BANK OF INDIA

प्रधान कायाालय / Head Office

आयोजना, कायानीडि एवं आडथाक आसूचना डवभाग
Planning, Strategy & Economic Intelligence Dept

समाचार सारांश /NEWS SUMMARY–05.02.2020

राष्ट्रीय (NATIONAL)

ररजवा बैंक ऑफ इं डिया (RESERVE BANK OF INDIA)

FM to address RBI board on February 15 (Financial Express)

Finance minister Nirmala Sitharaman will address the central board of the Reserve Bank of India (RBI) on
February 15 in a crucial meeting that comes after the government, in the Budget for FY21, invoked an escape
clause in the FRBM law to let the fiscal deficit breach the targets by as much as 50 basis points each for this year
and the next. The minister may seek to reassure the RBI that funds will be used to finance productive spending
and create assets, which won’t really add to the underlying inflationary pressure in the economy.

https://www.financialexpress.com/economy/fm-sitharaman-to-address-rbi-board-on-february-15-assuage-deficit-concerns/1856298/

RBI mvoes apex court against Bombay HC order on PMC bank (Business Line)

The Reserve Bank of India has approached the Supreme Court challenging Bombay High Court’s order pertaining
to the directions for the sale of property owned by Housing Development and Infrastructure Limited (HDIL) to
settle the dues of account holders at Punjab and Maharashtra Co-operative Bank (PMC Bank). Last month, the
Bombay HC had ordered the selling of assets owned by HDIL. A three-member committee was also appointed to
assess the value of the assets. The RBI challenged the HC’s order saying that the order was passed without
allowing the central bank to share its perspective on the issue.

https://www.thehindubusinessline.com/money-and-banking/rbi-moves-apex-court-against-bombay-hc-order-on-pmc-bank/article30736592.ece

बैं डकंग (BANKING)

PNB Q3 loss Rs 492 crore as provisions jump 73% (Financial Express)

A steep 73% year-on-year jump in provisions for loan losses pushed Punjab National Bank (PNB) into the red as
the lender reported a loss of Rs 492.28 crore for the December 2019 quarter. The bank had reported a net profit
of Rs 246.51 crore in the comparable quarter last year. The quarterly loss was significantly below Bloomberg
consensus estimates which had pegged the bank’s net profit at Rs 779.2 crore during the quarter.

https://www.financialexpress.com/market/pnb-q3-loss-rs-492-crore-as-provisions-jump-73-3/1856161/

Revive animal spirits, Nirmala tells India Inc (Financial Express)

Finance minister Nirmala Sitharaman on Tuesday called on India Inc to shed any inhibition and invest, saying
mere government spending might not be enough to catapult the economy into a higher-growth trajectory. In an
indication that more steps to revive the economy might be in the offing beyond what have been proposed in the
latest Budget, Sitharaman said she was not closing the doors on industry and it could still expect meaningful
government intervention, if required. Speaking at a CII event, she also added that the government has cut
corporate tax rates and simplified the tax regime, and it’s up to industry now to do its bit.

https://www.financialexpress.com/economy/shed-inhibitions-and-invest-fm-nirmala-sitharaman-tells-india-inc-to-revive-animal-spirit/1856461/

Dhanlaxmi Bank Q3 net up 26% at Rs 21 crore as NPAs fall (Financial Express)

Dhanlaxmi Bank on Tuesday reported a 26 per cent rise in net profit at Rs 21.28 crore for the third quarter ended
December on healthy core income and fall in bad loan ratio. The private sector lender had registered a net profit
of Rs 16.90 crore during the corresponding period in previous fiscal. Total income rose to Rs 285.85 crore from
Rs 272.16 crore in October-December 2018-19, Dhanlaxmi Bank said in a regulatory filing.

https://www.moneycontrol.com/news/business/earnings/dhanlaxmi-bank-q3-net-up-26-at-rs-21-cr-as-bad-loans-fall-4905281.html

Nearly 6900 cases of online banking frauds registered in 2017-18 (Financial Express)

Nearly 6,900 cases of online banking frauds were registered in the country in 2017-18, the Lok Sabha was
informed on Tuesday. Union Minister of State for Home G Kishan Reddy said with the rapid increase in use of
cyber space, the number of cyber crimes is also increasing. "As per data maintained by the National Crime
Records Bureau, 3,466 and 3,353 cases of online frauds were registered in 2017 and 2018, respectively," he said
replying to a written question.

https://economictimes.indiatimes.com/industry/banking/finance/banking/nearly-6900-cases-of-online-banking-frauds-registered-in-2017-18-
govt/articleshow/73937005.cms

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Ujjivan Small Fin Bank uses all of Rs 746 crore raised via IPO (Financial Express)

Ujjivan Small Finance Bank (USFB) on Tuesday said it has used the entire Rs 746 crore equity capital that it
raised through an IPO in December. “Entire amount has been utilised to meet the future capital requirement of the
Bank. There is no amount unspent,” USFB said in a regulatory filing. The lender had raised Rs 745.95 through an
initial public offer (IPO) in December 2019. The company said the funds were raised to “augment to tier-1 capital
base to meet future capital requirement of the bank”, it said. USFB stock was trading at Rs 53.50 on the BSE, up
1.61 per cent, from the previous close.

https://www.financialexpress.com/market/ujjivan-small-finance-bank-consumes-all-of-rs-746-crore-raised-through-ipo-in-december/1855573/

MDR would have move to zero, with or without Government (Economic Times)

Infosys Chairman Nandan Nilekani said the merchant discount rate (MDR) would have trended to zero even if the
government had not gotten involved and said payment providers in India should focus on budget payments that
will help small merchants across the country. "I think the thing is that the MDR is going to trend towards zero,
even if the government did not get involved. I think, our work should be budget payments and not online but
offline,” Nilekani said at an event hosted by PayTM on Tuesday. He added that the money for companies would
come from the other services they could provide, such as lending.

https://economictimes.indiatimes.com/industry/banking/finance/nandan-nilekani-says-mdr-would-have-trended-to-zero-even-without-
government/articleshow/73930028.cms?from=mdr

DICGC raises insurance cover for depositors from Rs 1 lakh to Rs 5 lakh (Business Line)

Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly owned subsidiary of the Reserve Bank of
India, has raised the limit of insurance cover for depositors in insured banks from Rs 1 lakh to Rs 5 lakh per
depositor with effect from February 4. The RBI, in a statement said the hike, with the approval of the Government
of India, is with a view to providing a greater measure of protection to depositors in banks.

‘Central Banker of the Year’ award for RBI Chief (Business Line)

Reserve Bank of India Governor Shaktikanta Das has been conferred the Central Banker of the Year, Asia Pacific
2020' award by The Banker magazine for taking steps to make the banking sector in India more robust through a
restrained approach to governance amid banks facing a series of challenges. According to The Banker, Das has
bene outspoken on the lack of governance in banking, calling for tighter rules for state-owned banks, which
comprise 60 percent of India’s banking sector.

https://www.thehindubusinessline.com/money-and-banking/rbi-governor-shaktikanta-das-bags-central-banker-of-the-year-2020-asia-pacific-
award/article30733176.ece

अथाव्यवस्था (Economy)

Rupee rises 13 paise versus dollar (Business Line)

The Indian rupee moved up by 13 paise to close at 71.25 against the US dollar on Tuesday as forex market
participants gauged improved sentiment in global markets amid efforts to contain deadly coronavirus. The Indian
currency was also supported by Brent crude prices at lower levels and foreign fund inflows into domestic equities.
At the interbank foreign exchange market, the local currency opened at 71.24. During the day, the local unit saw a
high of 71.09 and a low of 71.29. The Indian rupee finally settled at 71.25, up 13 paise over its previous close.

https://www.outlookindia.com/newsscroll/rupee-gains-13-paise-against-us-dollar-on-crude-oil-fii-boost/1726149

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