Page 15 - Banking

Private banks step up FCNR (B) mobilisation with higher deposit rates

HDFC Bank and ICICI Bank have raised FCNR(B) deposit rates as lenders compete for foreign currency inflows ahead of the RBI's September-end swap window deadline

RBI appoints Monisha Chakraborty as executive director from August 3

Former chief general manager-in-charge of the Department of Supervision will oversee the Foreign Exchange Department and Financial Markets Regulation Department

HDFC Bank raises 3-5 year FCNR(B) dollar deposit rate by 25 bps to 6.25%

The private sector lender raised its dollar deposit rate by 25 basis points as banks compete for non-resident funds before the RBI's concessional swap window closes

UP gains credit-active consumer share as Maharashtra, Tamil Nadu decline

TransUnion Cibil data shows Uttar Pradesh posted the sharpest rise in credit-active consumer share between March 2017 and March 2026, while Maharashtra and Tamil Nadu lost ground

BCRC seeks dedicated equity fund and wider access to RBI support schemes

The self-regulatory body for business correspondents has sought a dedicated equity fund, access to financial inclusion support and a pricing review to strengthen last-mile banking

Bank holidays in August 2026: Banks to stay closed for 14 days; check list

Bank branches will mark many holidays throughout Aug 2026. Independence Day on Aug 15 will cause nationwide bank shutdowns. Several state-specific festivals depend upon regional

RBI allows banks to link bulk deposit rates to liquidity profile

Banks can now price bulk deposits based on liquidity characteristics under the LCR framework, while continuing to follow uniform interest rate norms

Zero PSB locker thefts in FY26: How bank lockers are secured in India

Public sector banks reported no locker thefts in FY26 after 40 cases over the previous four years. RBI guidelines prescribe security standards, customer alerts and bank liability for losses

Datanomics: Chandigarh tops RBI ombudsman grievances rates in FY25

RBI data shows bank complaints rose 13.6% in FY25, with loans leading grievances as the central bank pushes lenders to strengthen internal ombudsman mechanisms

Banks collected ₹7,086 crore as minimum balance penalties in FY26: Govt

According to the Finance Ministry, private sector banks accounted for nearly 70 per cent of the total minimum balance charges collected in FY26

Reserve Bank of India gets govt's nod to issue ₹10, ₹20 polymer banknotes

The central bank will issue 1 billion each of ₹10 and ₹20 polymer banknotes for field trials before taking a call on their regular issuance

FCNR(B) inflows may have crossed 2013 level in just 45 days: SBI Research

SBI Research now expects FCNR(B) deposits of $65-70 billion by the end of the scheme, significantly higher than its earlier estimate of $40-45 billion

Tamilnad Mercantile Bank's Q1 net profit surges 35% to ₹412 crore

Tamilnad Mercantile Bank (TMB) on Monday reported a 35 per cent jump in net profit to Rs 412 crore for the first quarter ended June 30 on improvement in its core income.

Catch the scam if you can: Rising frauds expose growing governance gaps

Despite tech investment, rising complexity in frauds exposes governance gaps and digital vulnerabilities. There is an urgent need for stronger oversight

Private bank attrition eases in FY26 amid digitisation-led workforce cuts

ICICI Bank, Axis Bank and Kotak Mahindra Bank reported lower attrition in FY26, while HDFC Bank saw a marginal rise as technology and digitisation reduced headcount

Large Indian banks revive dollar bond plans after period of lull

Indian banks are preparing dollar bond issuances before the RBI's concessional swap window closes in December, seeking cheaper overseas funding options

Banking system liquidity falls to over 3-week low as credit growth picks up

Liquidity surplus narrowed to ₹2,884 crore as credit growth outpaced deposits, though FCNR(B) inflows are expected to improve system liquidity in the coming weeks

NRI deposit inflows fall 29% to $1.33 billion in April-May 2026: RBI

The moderation was driven by weaker inflows into NRE and FCNR(B) accounts, though recent RBI measures have triggered a sharp rise in fresh FCNR(B) deposits

Foreign banks exhibit strongest rate transmission: RBI Bulletin

Foreign banks led the transmission of RBI's rate cuts, reducing lending and deposit rates more sharply than public and private sector peers, the central bank's bulletin said

Strong early response to swap window fuels $70 billion inflows hope

Foreign banks appear to have driven the early success of the RBI's swap scheme, say experts