Page 15 - Banking
RBI receives ₹31,025 cr bids at VRR auction against ₹50,000 cr notified
RBI's overnight VRR auction received Rs 31,025 crore bids against Rs 50,000 crore notified as surplus liquidity stayed high despite upcoming tax outflows
 "RBI receives ₹31,025 cr bids at VRR auction against ₹50,000 cr notified")
FinMin reviews Q1 performance of PSBs, urges higher lending to economy
During the meeting, the secretary urged the MDs and CEOs of state-owned banks to increase lending towards the productive sector of the economy, according to sources
 "FinMin reviews Q1 performance of PSBs, urges higher lending to economy")
Bank asset quality: Slippages rise 26% in Q1 on stress in unsecured loans
The incidence of default was higher among private lenders compared to their public sector counterparts, according to CareEdge Rating data
 "Bank asset quality: Slippages rise 26% in Q1 on stress in unsecured loans")
Low savings account interest rates fuel a rush to liquid mutual funds
Net new account openings swell to 220,000 in 2025
 "Low savings account interest rates fuel a rush to liquid mutual funds")
US tariff impact: MSME NPA classification period likely to be doubled
"The proposal to extend the loan default period for MSMEs from 90 days to 180 days is likely to be taken up by the Cabinet soon," the official said
 "US tariff impact: MSME NPA classification period likely to be doubled")
Centre asks banks to extend long-term loans for electric mobility
The government is set to have a laser sharp focus on e-trucks in India's EV transition journey, which - according to Niti Aayog's findings in a recent report - have virtually not taken off
SBI to Canara Bank: Some PSBs raise home loan rates to shield margins
Senior State Bank of India executive said the slight tweak (hike) in rates for home loans was on account of reduction in business discount. Risk premium remains the same
 "SBI to Canara Bank: Some PSBs raise home loan rates to shield margins")
FinMin to meet CEOs of PSBs on August 20 to review Q1 performance
The review meeting on August 20 with public sector banks to assess the performance of the first quarter of 2025-26, according to sources
 "FinMin to meet CEOs of PSBs on August 20 to review Q1 performance")
The Karnataka Bank saga: A clash of egos and cultures in old private banks
Karnataka Bank was founded by a group of agriculturists, lawyers and businessmen, led by BR Vysaray Achar, to promote economic development in the South Canara region. It has no identified promoter
 "The Karnataka Bank saga: A clash of egos and cultures in old private banks")
Banks roll over ₹1.82 trn at RBI's 8-day VRRR auction to absorb liquidity
RBI accepts Rs 1.82 trillion at 8-day VRRR auction as banks roll over maturing funds from earlier operations amid surplus system liquidity
 "Banks roll over ₹1.82 trn at RBI's 8-day VRRR auction to absorb liquidity")
SBI to raise ₹15,000 cr via Tier II bonds to replace maturing debt
A senior SBI executive said the bank has approval from the board of directors to raise up to Rs 20,000 crore through debt capital in Fy26.
 "SBI to raise ₹15,000 cr via Tier II bonds to replace maturing debt")
Indian Bank sanctions ₹1,400 cr loans to MSME units at outreach camp
Sanction letters were given to 200 MSME and retail customers during the camp held recently, as per a statement
 "Indian Bank sanctions ₹1,400 cr loans to MSME units at outreach camp")
ICICI Bank revises minimum account balance to ₹15,000 from ₹50,000
The revised MAB for new accounts now stands at Rs 15,000 for metro and urban areas, Rs 7,500 for semi-urban, and Rs 2,500 for rural branches, effective August 1
 "ICICI Bank revises minimum account balance to ₹15,000 from ₹50,000")
Sebi rejects Anil Ambani's settlement plea over Yes Bank investments
According to the documents reviewed by Reuters, the investment was made in exchange for loans from Yes Bank to other group companies
 "Sebi rejects Anil Ambani's settlement plea over Yes Bank investments")
Karnataka Bank Q1 profit falls 27% on higher provisions, capital up
Karnataka Bank Q1 profit fell 27% to Rs 292.40 crore on higher provisions, but asset quality improved and capital adequacy rose to 20.46%
 "Karnataka Bank Q1 profit falls 27% on higher provisions, capital up")
Banks free to decide on minimum balance for savings accounts: RBI Guv
In a recent decision, private lender ICICI Bank increased the minimum balance requirement for those opening new savings accounts from August 1
 "Banks free to decide on minimum balance for savings accounts: RBI Guv")
Focused on maintaining low-cost funding profile, says ICICI chairman
ICICI Bank will continue to prioritise a stable, granular, and low-cost funding profile alongside governance, digital growth, and customer-centric strategies for sustainable progress
 "Focused on maintaining low-cost funding profile, says ICICI chairman")
ED files supplementary prosecution complaint in Amtek Auto bank fraud case
ED files supplementary complaint naming 56 accused in Amtek Auto fraud involving loan diversion, stock manipulation, and asset concealment, with Rs 6,261 crore attached
 "ED files supplementary prosecution complaint in Amtek Auto bank fraud case")
Civil society protests ICICI Bank's savings account minimum balance hike
The bank has raised the minimum balance requirement for new savings accounts opened on or after August 1 by five times to Rs 50,000
ICICI Bank faces netizen ire for raising min balance requirement to ₹50,000
ICICI Bank's decision to raise the minimum monthly average balance (MAB) for new savings accounts to ₹50,000 in metro and urban areas has drawn significant backlash on social media, with users citing