Market Daddy | Share Bazar Live | Share Market News

LIC — Life Insurance Corporation of India — is among a handful of brands ubiquitous to India. Now LIC has a bank, which may bear its name. On Monday, IDBI Bank Ltd. said that it has sought approval from the Reserve Bank of India for a name change. This, after LIC, completed the acquisition of majority equity in the erstwhile development lender. The bank has suggested two options to the regulator: LIC IDBI Bank or LIC Bank. The bank is hopeful that its first preference of ‘LIC IDBI Bank’ is accepted unless there is a conflict issue, said Rakesh Sharma, chief executive officer of IDBI Bank.  The board has proposed LIC IDBI Bank Ltd as the first preference followed by LIC Bank Ltd. Meanwhile, IDBI Bank posted widening of loss by nearly threefold to Rs 4,185.48 crore for the third quarter ended December 2018 as bad loans surged. The bank had reported a net loss of Rs 1,524.31 crore in the corresponding quarter of the previous fiscal. Total income decreased to Rs 6,190.9...

“While in 2018-19, though concerns surrounding the sector due to debt defaults amidst temporary asset-liability mismatches arose, the inherent strength of the NBFC sector, coupled with the RBI’s continuing vigil on the regulatory and supervisory front, will ensure that the growth of the sector is sustained and liquidity fears are allayed,” said RBI in its report on Trends & Progress of Banking in 2017-18 on Friday. Retail loans of NBFCs grew at 46.2% y-oy from 21.6% in FY18 reflecting increased consumer demand. The demand was spiked due to the vehicle loan segment, according to the report while credit to the services sector was driven mainly by commercial real estate and retail trade. At present, the capital adequacy norms for Indian banks are higher than those recommended under Basel. “The case for a recalibration of risk-weights or minimum capital requirements would need to be carefully assessed—frontloading of regulatory relaxations before the structural re...