Banking news of the day

Below is the snapshot of the latest banking news happening around the world.

June 28, 2013 9:15 IST | India Infoline News Service
Macro worries may take a toll on banks' asset quality: RBI
India's central bank has warned that the asset quality of local banks would deteriorate further if current macro-economic conditions persist, especially with rising overall macro-economic risks in the last six months. (Source: The Economic Times)

NPA clause of public sector banks likely to be changed
The government will reconsider a clause that requires all state-run banks to treat a borrower's account as non-performing if a loan to the company by any bank has become a bad asset in the books of that bank. (Source: The Economic Times)

Asset quality of banks improved in March quarter: RBI
RBI said the asset quality of banks has improved in the January-March quarter this year with the gross non-performing assets ratio declining to 3.4 per cent of total loans outstanding, from 3.6 per cent in the July-September quarter last year. (Source: PTI)

RBI cautions banks against mis-selling insurance products
The Reserve Bank of India (RBI), in its financial stability report has raised concern about the conduct of banks while distributing insurance products. (Source: Business Standard)

Slowing growth is 'most worrisome' factor: RBI
Slowdown in growth is the most worrisome factor and volatile capital flows have made the country vulnerable to "stops and reversals", RBI governor D Subbarao said on Thursday. (Source: PTI)

RBI eases priority loan eligibility norm for MFIs onlending
Bank credit for onlending by Micro Finance Institutions (MFIs) will now be eligible for categorisation as priority sector lending if at least 70 per cent of loans given by MFIs is for income generating activity. (Source: PTI)

Offshore rupee trades hit after RBI tweaks rules of currency bets
The offshore market for the rupee collapsed, with the Reserve Bank of India changing the rules of currency bets by FIIs. (Source: The Economic Times)

RBI red flags 'virtual currency'
The Reserve Bank of India has expressed concern over the rise of "virtual currencies" which are the likes of bitcoin. The concerns have been voiced at a time when the US authorities have cracked down on a virtual currency company "Liberty Reserve" alleging that it was involved in money laundering. (Source: The Times of India)

RBI further tightens gold import norms
The Reserve Bank of India took further measures to curb demand for gold, saying imports of the precious metal against suppliers' or buyers' credit will be on 100 per cent cash margin, and on document against payment basis, in an effort to rein-in a record-high current account deficit. (Source: Reuters)

Domestic saving rate stood at nearly 31% in FY13: RBI
Gross domestic savings as a proportion to GDP fell from a high of 36.8 per cent in FY08 to 30.8 per cent in FY13, according to the Reserve Bank. (Source: PTI)

Despite rising prices, bank credit to housing down to 9.5%: RBI
The Reserve Bank today said despite a steep fall in bank credit to the housing sector, which in turn brought down demand, house prices in some of the major urban centres have been on the rise. (Source: PTI)

High price-to-rent ratios, easy finance to realtors key concerns: RBI
While emphasising the need to closely monitor the housing sector, the Reserve Bank of India (RBI) said there are indications the ratio of price to annual rent in some areas in metros such as Mumbai are as high as 50. “House prices in some Indian metropolitan cities have witnessed significant increase in the recent past,” RBI said. (Source: Business Standard)

China credit squeeze hits banks, spares real economy, for now
China's central bank is squeezing funds out of the money market, forcing banks to borrow money at historic interest rate levels, but the manoeuvre appears to have been calculated to have limited impact on the real economy. (Source: Reuters)

Europe clinches deals on banks, budget, youth jobless
European leaders agreed on new steps to fight youth unemployment and promote lending to credit-starved small business on Thursday after deals on banking resolution and the long-term EU budget gave their summit a much needed lift. (Source: Reuters)

EU strikes deal to bail out banks
Finance ministers of the European Union reached a deal on new rules to bailout or close down failed banks in the future without causing a burden on taxpayers. (Source: PTI)

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