Khara, BFSI News, ET BFSI

Banking & Finance

[ad_1]

Read More/Less


-By Nidhi Chugh & Ishwari Chavan

Dinesh Khara

State Bank of India will soon roll out its Environmental, Social, and Governance structure, with an aim to increase its exposure to climate-change-mitigation companies, such as renewable energy, by extending credit relaxations, said Chairman Dinesh Khara.

For loans exceeding Rs 50 crore, borrowers are assigned scores on the basis of their performance on various ESG parameters, Khara said at the ESG India Leadership Awards 2021 on Thursday.

“The bank acknowledges the increasing risk of climate change that is embedded in its credit portfolio, and is in the process of devising a framework for climate risk management. We are also in the process of identifying and managing risk arising out of ESG practices, to increase our exposure to climate-change-mitigation companies, which includes relaxation in extending credit facilities to borrowers in the renewable energy sector,” Khara said.

Unless banks are able to provide adequate credit to green projects and measure risk in their portfolio, the bank’s depositors and shareholders will continue to carry ESG risk that can erode returns, Khara said.

According to experts, ESG investors are likely to face risks of small cap and single stock investments, and interest rate and inflation.

Khara spoke of the bank’s plan to embrace ESG investments.
Khara spoke of the bank’s plan to embrace ESG investments.

SBI aims to be carbon neutral by 2030, and in line with this target the bank has taken a number of initiatives to reduce its carbon impact, including installation of solar power plants, tree plantation, organic farming and banning the use of single use plastic, Khara said.

The bank has taken a two-fold approach to reach its 2030 goal – managing the impact of its own operations and directing its funding to climate-change-mitigation sectors, he added.

On India’s approach towards sustainable growth, Khara said the banking sector should accelerate green lending and report their ESG portfolio performance. India should define its green finance by combining international practices, developing its set of principles, and obtaining stakeholders’ views.

“To support acceleration in green financing, a number of structural changes will be needed in the traditional lending approach, including evaluation and certification of the green credentials of each project, understanding of the corporate roadmap to achieve net zero, and how projects will contribute to the achievement of net zero emissions,” he said.

Meanwhile, at the award function, Infosys emerged as a ESG leader across industries, while Axis Bank led the pack in transparency and disclosures, said ESGRisk.ai, the organiser, in a note.



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , , , ,

4 Stocks To Buy And Sell For Short Term Gains

Personal Finance

[ad_1]

Read More/Less


Domestic markets stay strong

“Domestic markets are holding up strong on the back of several positive factors like rating outlook upgrade, strong pre-quarterly data and healthy commentary from corporates for the festive season. Although volatility has increased due to global factors as well as elevated valuations. Q2 result season would officially start with TCS numbers on Friday. Also RBI’s monetary policy meeting decision is due on Friday. In this environment of global uncertainty and sector specific action, Investors should make use of small dips in the market to accumulate fundamentally strong stocks,” Khemka says.

4 stock ideas for short term traders for Oct 8

4 stock ideas for short term traders for Oct 8

1) Dr. Ravi Singh, Head of Research & Vice President, ShareIndia

ICICI BANK: Buy the stock at Rs 702, Target on the stock at Rs 715, Stop loss at Rs 695.

HINDALCO: Buy the stock at Rs 477, Target on the stock at Rs 488, Stop Loss Rs 474

2) Manoj Dalmia, Founder and Director, Proficient Equities Private Limited

ABAN OFFSHORE: Buy the stock at Rs 54, TARGET Rs 61, Stop Loss Rs 51.50

3) Ravi Singhal, Vice chairman, GCL Securities Limited

TRENT: BUY the stock at Rs 1111, Stop Loss Rs 1077, Target Rs 1144

Disclaimer

Disclaimer

The stocks recommended above are based on the recommendations of technical analyst. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies Pvt Ltd, the author, and the analysts are not liable for any losses caused as a result of decisions based on the article. The above article is for informational purposes only.



[ad_2]

CLICK HERE TO APPLY

Leave a comment

Reserve Bank of India – Tenders

Tenders

[ad_1]

Read More/Less


Sealed bids are invited for the sale of Hyundai Creta SK 01 PB 2292 on “As Is Where Is” basis stationed at Reserve Bank of India, Gangtok at Tseyang Djong Building National Highway 10, Amdo Golai Tadong, Gangtok, Sikkim-737102.

2. Tender forms can be downloaded from Bank’s website https://www.rbi.org.in/Scripts/BS_ViewTenders.aspx or can be obtained from Reserve Bank of India, Tseyang Djong Building National Highway 10, Amdo Golai Tadong, Gangtok. Tender forms addressed to the General Manager and Officer-in-Charge, Reserve Bank of India, Tseyang Djong Building National Highway 10, Amdo Golai Tadong, Gangtok – 737102 in a sealed envelope should reach the office not later than 15:00 hours on November 15, 2021. The tenders will be opened at 16:00 hrs on November 15, 2021 in the presence of the tenderers who wish to be present.

3. Bank reserves the right to accept or reject any or all the tenders, either in whole or in part, without assigning any reasons thereof.

General Manager and Officer-in-charge
Reserve Bank of India,
Gangtok
October 07, 2021

[ad_2]

CLICK HERE TO APPLY

Leave a comment

Karnataka Bank launches loan campaign to cater to festival demand

Banking & Finance

[ad_1]

Read More/Less


Karnataka Bank has launched a special campaign ‘KBL Utsav 2021-22’ for home loans, car loans and gold loans to cater to the festive demand. The campaign will be effective from October 7 to December 31.

A statement by the bank said customers can get the benefit of digital banking and offers of the special campaign across all the 857 branches of Karnataka Bank in the country.

Customers can get home, car and gold loans with special interest rates, concession in processing charges and other benefits under the ‘KBL Utsav’ campaign, it said.

Quoting Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, the statement said, Karnataka Bank helps its customers in realising their dreams of owning a home and a car, with real time customer authentication, hassle-free and simplified digital processing, immediate sanctions, etc., through its in-house developed digital products. “We are always with our customers as ‘your family bank’ in its true sense, to fulfil all the financial needs and share the happiness of festivities through our industry best customer service,” he said.

[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , ,

RBI to call-back retired officers to improve efficiency

Banking & Finance

[ad_1]

Read More/Less


Old is gold for the Reserve Bank of India (RBI) if one goes by its plan to engage the services of retired officers to strengthen its supervisory framework for both banking and non-banking sectors.

The central bank is planning to hire 29 officers, who retired from its services, on contractual basis as supervisory resource persons/analysts in the Department of Supervision (DoS).

This move comes in the backdrop of the steps taken by the central bank to improve the effectiveness of its supervision and monitoring of supervised entities resulting in supervisory action being taken against them.

In the last one year, RBI has imposed business restrictions on a large private sector bank; stopped a prominent card payment network from on-boarding new domestic customers onto its card network; slapped monetary penalties on a host of urban co-operative banks for non-compliance with its various master directions, among others.

Hiring plans

In view of the large-scale changes in the size, complexity, business model and risks in the operations of banks and non-banking finance companies (NBFCs), RBI is beefing up its supervisory workforce by engaging retired officers.

So, the central bank is planning to hire 26 retired officers in the supervisory examination division (SED) of DoS — 12 in NBFC SED; eight in the urban co-operative bank (UCB) SED; and six in the scheduled commercial banks (SCBs) SED. Further, three retired officers will be hired in the Information Technology (IT) Group.

The officers engaged in SED will undertake onsite supervision and off-site surveillance in a computerised environment and associated duties, including sharing of specialised skills with supervisory resources of RBI.

The officers in IT group will undertake onsite IT examination/ thematic study covering assessment of areas such as application, network and database security, resilience of IT infrastructure; analysis of cyber security/ IT incidents reported by regulated entities and follow-up action thereon, among others.

These officers will be initially engaged for two years, with provision of one-year extension based on review of performance and achievement of intended objectives, subject to a total period of five years.

The move to hire retired officers also comes in the backdrop of serving officers reportedly being reluctant to join the Unified Department of Supervision (for Banking, Non-Banking and Co-operative Bank), which was created in November 2019, due to issues around career progression.

[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , ,

RBI to call-back retired officers to improve efficiency

Banking & Finance

[ad_1]

Read More/Less


Old is gold for the Reserve Bank of India (RBI) if one goes by its plan to engage the services of retired officers to strengthen its supervisory framework for both banking and non-banking sectors.

The central bank is planning to hire 29 officers, who retired from its services, on contractual basis as supervisory resource persons/analysts in the Department of Supervision (DoS).

This move comes in the backdrop of the steps taken by the central bank to improve the effectiveness of its supervision and monitoring of supervised entities resulting in supervisory action being taken against them.

In the last one year, RBI has imposed business restrictions on a large private sector bank; stopped a prominent card payment network from on-boarding new domestic customers onto its card network; slapped monetary penalties on a host of urban co-operative banks for non-compliance with its various master directions, among others.

Hiring plans

In view of the large-scale changes in the size, complexity, business model and risks in the operations of banks and non-banking finance companies (NBFCs), RBI is beefing up its supervisory workforce by engaging retired officers.

So, the central bank is planning to hire 26 retired officers in the supervisory examination division (SED) of DoS — 12 in NBFC SED; eight in the urban co-operative bank (UCB) SED; and six in the scheduled commercial banks (SCBs) SED. Further, three retired officers will be hired in the Information Technology (IT) Group.

The officers engaged in SED will undertake onsite supervision and off-site surveillance in a computerised environment and associated duties, including sharing of specialised skills with supervisory resources of RBI.

The officers in IT group will undertake onsite IT examination/ thematic study covering assessment of areas such as application, network and database security, resilience of IT infrastructure; analysis of cyber security/ IT incidents reported by regulated entities and follow-up action thereon, among others.

These officers will be initially engaged for two years, with provision of one-year extension based on review of performance and achievement of intended objectives, subject to a total period of five years.

The move to hire retired officers also comes in the backdrop of serving officers reportedly being reluctant to join the Unified Department of Supervision (for Banking, Non-Banking and Co-operative Bank), which was created in November 2019, due to issues around career progression.

[ad_2]

CLICK HERE TO APPLY

Leave a comment

Corrigendum – Design, Supply, Installation, Testing and Commissioning (DSITC) of Grid Interactive SPV based 104 KWp Solar Power Plant (SPP) for RBI at Byculla Office Building, RBI Officers Quarters at BKC, RBI Officers Quarters at Kailash, Malad (East), RBI Staff Quarters at Bhandup and RBI Staff Quarters at Chembur in Mumbai

Tenders

[ad_1]

Read More/Less


A reference is invited to the event no: RBI/Mumbai/Estate/79/21-22/ET/108 for the captioned tender. In this context, please note the following changes in schedule:

a. Last date of Submission of EMD : October 20, 2021 till 2.00 PM
b. Close Bid date and time : October 20, 2021 at 2.00 PM
c. TOE start time (Opening of Part I – Technical Bid) : October 20, 2021 at 2.30 PM onwards

2. All the other terms and conditions mentioned in the tender remain unchanged.

Regional Director

RBI, Maharashtra & Goa

[ad_2]

CLICK HERE TO APPLY

Leave a comment

7 Stocks From The Oil And Gas Sector On Sharekhan’s Buy List

Personal Finance

[ad_1]

Read More/Less


Stocks from the oil and gas sector to buy according to Sharekhan

Current market price Target price to buy for
Reliance Industries Rs 2,587 Rs 2,700
Petronet LNG Rs 230 Rs 285
Mahanagar Gas Rs 1,077 Rs 1,450
IOCL Rs 132.70 Rs 150
HPCL Rs 322 Rs 340
GAIL Rs 162 Rs 196
Gujarat Gas Rs 625 Rs 890

City gas distribution companies to do well

City gas distribution companies to do well

According to Sharekhan, the City gas distribution companies (excluding Gujarat Gas) are likely to report strong earnings growth y-o-y, led by sharp volume growth and strong margin and gas utilities (especially GAIL) would benefit from substantial improvement in profitability of gas marketing business and volume growth across segment.

“Oil marketing companies earnings performance is expected to be mixed as sharp recovery in refining & marketing margins would get largely offset by lower inventory gain, subdued refinery utilisation for HPCL and sequential moderation in petchem margin for IOCL. Upstream PSUs (ONGC and Oil India) are likely to report high earnings growth led by increase in oil price and lower operating cost. We expect Reliance Industries’ (RIL) earnings to grow by 9% q-o-q led by mode,” the brokerage has said.

Oil marketing companies to be a mixed bag

Oil marketing companies to be a mixed bag

According to Sharekhan, oil marketing companies like IOCL, BPCL and HPCL core earnings will witness significant improvement as gross refining margins are on recovery mode (Singapore complex GRM up 76% q-o-q to $3.7/bbl) and diesel/petrol marketing margin expected to improve sharply to Rs. 5.6/Rs. 3 per litre versus only Rs. 4.1/Rs. 1 per litre in Q1FY22.

“However, on reported basis the performance would be mixed due to lower inventory gains q-o-q, weakness in HPDE margin on higher naphtha price for Indian Oil Corporation and subdued refinery utilisation for HPCL.

We expect IOCL/BPCL/HPCL PAT to witness -4%/30%/7% q-o-q earnings growth in Q2FY22. For Reliance Industries, we expect net profits to increase by 9% q-o-q to Rs. 13,324 crore led by modest growth in the oil to chemicals business as higher gross refining margins to get offset by lower petchem margin, decent performance by Jio supported by 4%/1% q-o-q increase in subscribers/ARPU to 460 million and Rs 140 per month respectively and strong q-o-q retail EBITDA growth led by demand recovery,” the brokerage has said.

HPCL and BPCL preferred stock picks from the OMC space

HPCL and BPCL preferred stock picks from the OMC space

“We prefer HPCL and BPCL among oil marketing companies given cyclical earnings recovery and potential re-rating on successful privatisation (expected by March 2022) of BPCL. We prefer GAIL and GSPL among gas utilities, as it is a play on rising domestic gas demand and is available at attractive valuations,” the brokerage has said.

Disclaimer

Disclaimer

The stocks recommended above are taken from the brokerage report of Sharekhan. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies Pvt Ltd, the author, and the analysts are not liable for any losses caused as a result of decisions based on the article. The above article is for informational purposes only.



[ad_2]

CLICK HERE TO APPLY

Leave a comment

Bank of Baroda reduces home loans rates to 6.5 pc, BFSI News, ET BFSI

Banking & Finance

[ad_1]

Read More/Less


State-run Bank of Baroda on Thursday said it has reduced its home loan rate by 25 basis points (bps) to 6.50 per cent from 6.75 per cent. The new rate will be available for customers till December 31, 2021, the lender said in a press release.

The rate will be offered to customers applying for fresh loans, loan transfers, or looking to refinance their existing loans.

“Our customers will get benefited from this offering in this festive season. With this reduced rate of interest, Bank of Baroda home loans are now offering the most competitive rates across categories for a limited period till December 31, 2021,” the bank’s General Manager (Mortgages and Other Retail Assets) H T Solanki said.

The lender said nil processing fee on home loan was already on offer and has been extended till December 31, 2021.

Follow and connect with us on , Facebook, Linkedin



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , ,

MD, BFSI News, ET BFSI

Banking & Finance

[ad_1]

Read More/Less


Export-Import Bank of India (Exim) Bank is looking at an 8-10 per cent growth in its loan portfolio in the current fiscal, a top bank official said on Thursday. In the first half of fiscal 2021-22, the development finance institution had clocked a 5 per cent loan growth.

“For the full year (FY2022), we have a target of eight to 10 per cent (loan) growth,” Exim Bank‘s Managing Director Harsha Bangari told reporters.

Generally, the credit demand in the market is muted, she said, adding the credit growth of Exim Bank cannot be very different from the banking sector’s growth rate.

In the fiscal ended March 31, 2021, Exim Bank’s loan portfolio grew by 4.43 per cent to Rs 1,03,851 crore compared to Rs 99,447 crore in FY2020.

It had reported a profit after tax of Rs 254 crore in FY21 as against Rs 124 crore in the previous fiscal.

Speaking about the asset quality, she said there were a couple of accounts that have become non-performing loans (NPAs) and those are under the bank’s radar.

“So, for the rest of the six months, I am seeing slippage ratio to be very much in control and a substantial improvement in our gross NPA ratio,” Bangari noted.

In fiscal 2021, its slippage ratio improved to 1.52 per cent from 1.94 per cent in FY20. Net NPA stood at 0.51 per cent from 1.77 per cent in FY2020.

The bank follows very aggressive provisioning and ensures that all NPAs are provided for, she said.

Last year, the provision coverage ratio was at over 95 per cent and this fiscal it will be higher than that, she added.

“In asset quality terms, we are much better than what we were last year or, for that matter, in the last two-three years,” Bangari said.

As part of a consortium, the bank has identified nine accounts worth Rs 700-800 crore to be transferred to NARCL.

On the overseas fundraising plans, she said the export credit agency, on average, raises USD 2 billion to 3 billion every year. The quantum of fund-raise depends on the bank’s growth trajectory and the refinancing requirements.

“In the year 2021-22, I don’t have huge debt servicing obligation. I would say around USD 2 billion for the current year is what we would plan to raise,” she said.

It has already raised USD 1 billion and may hit the bond market in January 2022 to raise another USD 1 billion, she said.

Of the Rs 1,500 crore of budgeted capital infusion for the current fiscal, the development finance institution received a capital of Rs 750 crore from the government during the April-September period, she added. PTI HV BAL BAL



[ad_2]

CLICK HERE TO APPLY

Leave a comment
1 … 233 234 235 236 237 … 16,279