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State-run banks put Rs 14,000-cr bad loans on the block: PSBs have put Rs 14,000 crore worth of NPAs up for sale, to ease some pressure exerted by stressed loans on their balance sheets. According to rating agency ICRA, despite lower stressed-asset formation, the Indian banking system’s gross NPAs increased from 3.9 per cent as of March 2014 to 4.4 per cent as of March this calendar year. (BS)
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More banks may cut base rates to spur loan demand, retain corporate business: Commercial banks may go for another round of lending rate cuts in the wake of poor loan demand and the fear that better-rated corporates may tap other sources to raise funds. A dozen commercial banks, led by the country's largest lender SBI, have reduced lending rates after some prodding from RBI, and more banks are likely to follow suit after the finance minister nudged them again on Friday. (ET)
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CEO interviews for five PSBs start today: In a first for state-owned banks, candidates from private sector banks have been shortlisted for interviews, for the post of CEO and MD at five large banks, beginning today. As many as 26 candidates, including executives from private sector banks, are to appear for the interviews on June 15 and 16, sources said. Among the candidates, about 7 are existing EDs at various PSBs. (IE)
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Why the Reserve Bank of India is on a dollar buying spree: RBI is on a dollar buying spree. Its net purchase of dollars in the spot market in the first four months of 2015 totalled $33.1 billion. This is close to the dollar purchases of $34 billion in all the 12 months of 2014. The purchases between January and April this year are also three times the net purchases during the corresponding period in 2014. (BL)
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Rupee may weaken, yields seen rising this week: The rupee is expected to weaken this week and government bond yields could rise further, as the market awaits the outcome of the two-day meeting of the federal open market committee of the US Federal Reserve. The Fed could start the rate raise cycle sooner than expected. (BS)
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India Post to issue 5 lakh new debit cards in next 2 months: India Post, which has started issuing personalised debit cards to its savings account holders, is planning to issue 5 lakh new debit cards over the next two months, a senior official has said. The Department of Posts (DoP) started issuing the cards from last year and so far, it has reached close to 10,000. (BS)
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Catholic Syrian Bank in talks to sell stake: Catholic Syrian Bank (CSB), the Kerala-based private sector lender, is talking to potential buyers as promoters look to offload their stakes. They are said to be seeking a valuation of about Rs 1,100-1,500 crore for the lender, said people aware of the negotiations. (ET)
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Product liability, recall covers may see rise in claims: Product liability covers and product recall covers might see a rise in claims with more risks set to come under inspection. Earlier, auto makers used to take these covers. But now, pharmaceutical and consumer goods firms, too, get these. (BS)
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