Page 17 - Banking
AI in currency: How it is quietly rewriting the rules of modern banking
Artificial intelligence is quietly transforming consumer-facing industries
 "AI in currency: How it is quietly rewriting the rules of modern banking")
State Bank of India at 70: Tracing the journey of India's biggest lender
From its 1800s roots to today's banking giant, SBI marks 70 years since its birth
 "State Bank of India at 70: Tracing the journey of India's biggest lender")
New project finance norms: Banks seek exemption for smaller loans
On June 19, the RBI announced the final norms for project finance, prescribing a one per cent general provision for all projects, as compared to 0.4 per cent now
 "New project finance norms: Banks seek exemption for smaller loans")
Saraswat Bank approaches RBI to acquire New India Cooperative Bank
The RBI in February had prohibited New India, based in Mumbai, from issuing fresh loans and suspended deposit withdrawals for six months
 "Saraswat Bank approaches RBI to acquire New India Cooperative Bank")
MF funding to NBFCs hits record Rs 2.77 trillion in May 2025: CareEdge
Mutual fund exposure to NBFCs rose 32.5% YoY to record Rs 2.77 trillion in May 2025, driven by CPs and corporate debt, while bank credit to NBFCs fell 0.3%
 "MF funding to NBFCs hits record Rs 2.77 trillion in May 2025: CareEdge")
Banks to book treasury gains in Q1FY26 on yield fall, OMO support
Bond yield drop and ₹2.5 trillion RBI OMOs to lift treasury income in Q1FY26 but weak credit growth may weigh on net profits, especially for PSU banks
 "Banks to book treasury gains in Q1FY26 on yield fall, OMO support")
Karnataka Bank shares recover after CEO, ED resign; bank reassures clients
In May, the bank's statutory auditors had flagged certain expenditure incurred by the whole-time directors without taking the board into confidence
 "Karnataka Bank shares recover after CEO, ED resign; bank reassures clients")
Banking system may face near-term margin pressures, says RBI report
Lower NIMs, slow credit growth, and high-cost deposits likely to add to its woes
 "Banking system may face near-term margin pressures, says RBI report")
SBI plans to solarise 4 million homes by FY27, marks 70 years of service
As it celebrates 70 years, SBI commits to solarising 4 million homes by FY27, scaling rooftop projects, modernising ATMs, and advancing AI-driven customer solutions
 "SBI plans to solarise 4 million homes by FY27, marks 70 years of service")
Bank GNPAs fall to multi-decade low of 2.3% in March, may rise by FY27: RBI
It can be noted that dud assets have been one of the most challenging part for the banking system for a large part of the latter part of the previous decade
 "Bank GNPAs fall to multi-decade low of 2.3% in March, may rise by FY27: RBI")
Bank credit growth slows to 4.9% during fortnight ended May 30: RBI
The RBI has released the data on sectoral deployment of bank credit for May 2025 collected from 41 select scheduled commercial banks
 "Bank credit growth slows to 4.9% during fortnight ended May 30: RBI")
Credit growth may remain subdued despite 100 bps policy repo rate cut
Banks await reduction in CRR, and festival season loan demand
 "Credit growth may remain subdued despite 100 bps policy repo rate cut")
Rupam Roy elected general secy of All-India State Bank Officers' Federation
Several important resolutions were adopted to strengthen the Federation's role in protecting the interests of its members in general and the society at large
 "Rupam Roy elected general secy of All-India State Bank Officers' Federation")
Ketan Kumar Joshi named J&K Bank CFO for 3-year term, replaces Fayaz Ganai
The Bank notified the appointment to the stock exchanges in accordance with Sebi Regulations
 "Ketan Kumar Joshi named J&K Bank CFO for 3-year term, replaces Fayaz Ganai")
Finmin asks PSBs to monetise subsidiary stakes via listing on bourses
There are about 15 subsidiaries or joint ventures of PSBs lined up for initial public offering or divestment in medium to long term
 "Finmin asks PSBs to monetise subsidiary stakes via listing on bourses")
FM Nirmala Sitharaman nudges public sector banks to push credit growth
After slipping to 12% in FY25, loans growth has fallen below 10%
 "FM Nirmala Sitharaman nudges public sector banks to push credit growth")
Finance Minister urges PSU banks to boost credit growth, maintain profits
During a meeting to review financial performance of PSBs, Sitharaman asked their chiefs to maintain profitability momentum in FY26, sources said
 "Finance Minister urges PSU banks to boost credit growth, maintain profits")
Govt urges state-run banks to boost lending amid economic growth push
Financial Services secretary M. Nagaraju said banks were also urged to boost credit to small businesses and improve deposit mobilisation, following a review meeting chaired by FM Nirmala Sitharaman
 "Govt urges state-run banks to boost lending amid economic growth push")
MSME credit top Rs 40 trillion as of March 2025, grows 20% annually
The increase has been primarily driven by strengthened priority sector lending (PSL) norms, targeted government initiatives, and increased digitalisation
 "MSME credit top Rs 40 trillion as of March 2025, grows 20% annually")
BCs seek meeting with finance ministry to break deadlock over remuneration
Industry representatives for business correspondents point out that there is pressure from banks to raise deposits, despite the fact that the BC channel has already overtaken branches in doing so
 "BCs seek meeting with finance ministry to break deadlock over remuneration")