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Banking Related News/ Awareness : 09APR13

Banks serve ‘loan recall notice’ on Kingfisher Airlines :

SBI on Wednesday said that a loan recall notice has been served on the defunct Kingfisher
Airlines (KFA) on behalf of the consortium of 17 lenders. The notice under the Sarfaesi Act,
DRT and other processes will follow. KFA, the airline promoted by Vijay Mallya, owes about
Rs 7,000 crore to lenders. SBI as the consortium leader has the maximum exposure to
Kingfisher at Rs 1,800 crore.

IOB gets nod to open second branch in Bangkok, 2 more in Sri Lanka :

IOB has received RBI’s approval for opening a second branch in Bangkok. The RBI has also
given its nod for IOB to open two more branches in Sri Lanka. Mr. M. Narendra, CMD of IOB,
was in the Capital to receive awards on behalf of the bank for excellence in lending to micro,
small and medium enterprises as also to khadi and village industries. Currently, IOB is the
only Indian Bank to have a branch in Bangkok. Narendra said IOB was also keen to establish
its presence at the Dubai International Financial Centre. The bank is also awaiting regulatory
nod for upgrading its representative office in Vietnam into a branch.

Indian Bank gets award :

Indian Bank has received national award for Excellence in Lending to Micro Enterprises by
the Ministry of Micro, Small and Medium Enterprises (MSME) for fiscal 2012. TM Bhasin,
Chairman and Managing Director, received the award from the President of India on April 3.

Cobra post Sting : Banks’ Internal Probe finds no evidence of KYC violations :

ICICI Bank, HDFC Bank and Axis Bank have probably exonerated themselves after an
internal investigation into the sting operations showed there was no compromise on know
your client (KYC) norms since no transaction happened. RBI, whose investigation findings
are not known, is expected to issue a show-cause notice to the banks and then decide
whether to levy a penalty or let off with a warning. Bank staff selling unsuitable products to
clients has become a menace with thousands of clients complaining that bankers are
misleading them. Regulators across the globe are tightening standards and even the RBI has
faced issues in the past.

MF Assets Rise by Rs.1.5 lakh crore in 2012-13:

Improved market sentiment helped mutual funds’ assets under management (AUM) soar by
over Rs.1.5 lakh crore to touch Rs.8.2 lakh crore in 2012-2013. The country’s 44 fund houses
together had an average AUM (Asset Under Management) of Rs 8,16,400 crore at the end of
fiscal year ended March 31, 2013, according to latest data available with Association of
Mutual Fund in India (AMFI).

UCBS can grant unsecured loans up to 25% of Assets :

To promote lending to priority sectors, the RBI on Wednesday allowed urban co-operative
banks (UCBs) to grant unsecured loans up to 25% of their assets if certain conditions are
met. The UCBs need to fulfill criterion such as, coverage of the entire loan portfolio of the
bank under priority sector and that all loans to be sanctioned as small value loans of up to Rs
20,000 in a single amount.
Banking Related News/ Awareness : 09APR13 Reviewed by Manohar Veera on 10:30:00 AM Rating: 5

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