Industry News

State Bank of India and largest private sector lender ICICI Bank continue to be domestic systemically important banks, the central bank said Thursday. The Reserve Bank of India classification means their collapse could have a cascading impact on the entire financial system and the economy. This is a repeat of a similar classification for both these lenders, made by the central bank in August last year."/>
RBI retains too big to fail status for SBI, ICICI Bank [Mint, New Delhi]
Clal Insurance Enterprises Holdings Ltd., which bring us close to the end of the reporting season in the insurance sector, present weak results: a sizeable loss both for the second quarter and the first half year, alongside a continued decline in premiums in the group's insurance business. Clal Insurance is currently at the center of a confrontation between its controlling shareholder, Eduardo Elzstain's IDB group, on the one hand, and..."/>
Clal Insurance loss widens [Globes, Tel Aviv, Israel]
Transaction complete: First test of a UPI app [Mint, New Delhi]
Accenture analysis of data from CB Insights. Total investment in Asia-Pacific's financial technology sector reached $9.62 billion as of July 31, more than twice the $4.26 billion invested in the region in all of 2015.. "China's established companies, rather than nascent start-ups, are at the forefront of the..."/>
Asia-Pacific beats North America in fintech investment: report [Mint, New Delhi]
Corporate bonds get RBI booster [Mint, New Delhi]
IL&FS Transportation Networks Ltd on Thursday said it has agreed to sell a road project in Andhra Pradesh to Cube Highways and Infrastructure Pte. Ltd, a joint venture between I Squared Capital and International Finance Corporation, for Rs.140.37 crore. Cube Highways will also assume debt of about Rs.500 crore associated with the project."/>
ITNL to sell Andhra Pradesh road asset to Cube Highways for Rs140 crore [Mint, New Delhi]
Axis Bank Ltd, Union Bank of India, Federal Bank Ltd and Bank of Maharashtra on Thursday went live with National Payments Corporation of India's UPI apps on the Google Play Store. The UPI system will allow customers to safely and..."/>
UPI goes live, banks introduce payment apps on Google Play Store [Mint, New Delhi]
NorthStar Realty Finance Corp., a New York real estate investment trust, still owes..."/>
Bank wants to foreclose on Colorado Springs building that houses tech companies [The Gazette (Colorado Springs, Colo.)]
Stonegate Bank will acquire Sarasota's Insignia Bank in a stock deal valued at $36.5 million. Stonegate-- which made global news when it agreed to provide banking services to Cuba last summer-- has expanded rapidly across Florida as it seeks growth. The deal will be the bank's tenth acquisition since 2009, according to a news release."/>
Stonegate Bank to acquire Sarasota competitor in $36.5 million deal [The Miami Herald]
Detroit Free Press Susan Tompor column [Detroit Free Press]
Mettler-Toledo International Inc. will replace Johnson Controls Inc. in the S&P 500, S&P SmallCap 600 constituent Monolithic Power Systems, Inc. will replace Mettler-Toledo in the S&P MidCap 400, and WCI Communities Inc. will replace Monolithic Power Systems in the S&P SmallCap 600 after the close of..."/>
Mettler-Toledo International Set to Join the S&P 500; Monolithic Power Systems to Join S&P MidCap 400; WCI Communities and Nautilus to Join S&P SmallCap 600

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