Page 18 - Banking

CBI busts 850,000 mule accounts in 700 bank branches across five states

Nine individuals have been arrested so far, including middlemen, account holders, and bank correspondents, for their alleged involvement in the creation and operation of the mule accounts

Share of public sector banks in CD issuances rises to 69% in 2024: RBI

Public sector banks accounted for 69 per cent of CD issuances by Dec 2024, up from 6 per cent in 2022, with Q4 FY25 issuance reaching an all-time high of Rs 3.7 trillion

Banks need to further improve their customer service: DFS secretary

The bank launched cash flow-based digital lending products designed specifically for MSME customers, strengthening its support for the country's small businesses

PSBs' loan growth to outpace private banks in FY26: Fitch Ratings

PSBs' loans grew by 12.4 per cent while private peers lagged with 7.5 per cent in FY25

RBI relaxes PSL norms to help SFBs de-risk, diversify loan portfolio

RBI lowers PSL target to 60% for SFBs, unlocking Rs 40,000 crore for lending to secured segments such as LAP and personal loans and aiding transition to universal banks

Looking at double-digit growth for SME banking in India, says Xie Wen

I see that in India, manufacturing is certainly growing, and services continue to be a very important and big driver of the economy, says Wen

Central banks in Asia scale back currency intervention as dollar weakens

The greenback has plummeted against major currencies this year, suffering drops of around 10% against the euro and the Swiss franc

RBI, banks to launch DPIP platform to combat rising digital payment frauds

According to sources, the institutional structure of the proposed entity would be created with the help of both public sector and private sector lenders as fraud is a common monster

RBI fines Fino Payments Bank ₹29.6 lakh for licencing rule breach

The Statutory Inspection for Supervisory Evaluation (ISE 2024) of the bank was conducted by the RBI with reference to its financial position as of March 31, 2024

RBI's liquidity measures drive short-term bond rally, widening yield spread

The yield spread between the three-year government bond and benchmark 10-year bond has increased by more than three times to 48 basis points, against 15 bps at the start of FY26

Private sector firms continue to maintain high interest cover ratio

The ICR - defined as the ratio of profit before interest and taxes to interest payments - stood at 6.78 in FY25, up from 3.77 in FY20

RBI circular overhang weighs on the HDB Financial Services valuation

IPO valuations likely to be $7.2 bn, down from $10 bn eyed earlier

94 candidates apply for six executive director positions in PSBs

FSIB likely to hold interviews month-end

Blackstone's ASK to hire 70 bankers amid surge in India's wealth sector

ASK's private wealth unit aims to have 175 bankers by the end of March next year, up from about 105 now, Rajesh Saluja, chief executive officer and co-founder of the business said

Banks' supervisory data quality index improved in March 2025, says RBI

RBI reports sDQI for scheduled commercial banks improved to 89.3 in March 2025; small finance banks scored above 90, reflecting higher data accuracy and compliance

Transition woes: SFBs' long bumpy road to becoming universal banks

The RBI requires SFBs to provide a detailed rationale for their desire to convert into a universal bank. Those with a diversified loan portfolio will be preferred

The great disconnect: More bank branches, and same old ATM count

ATM growth remains flat despite rising branch expansion as digital payment preferences and high ATM maintenance costs reshape banking strategy

PSBs see surge in staff productivity as business per employee rises

The number of employees in most PSBs has declined over the years. Bank of India witnessed a consistent decline, falling from 52,374 in FY23 to 50,944 in FY24, and further to 50,564 in FY25

SBI cuts EBLR, home loan rates by 50 bps after RBI's policy rate cut

SBI reduces EBLR and home loan rates by 50 basis points and special deposit scheme rate by 25 basis points, effective from 15 June 2025, following RBI's repo cut

RBI gives Yes Bank MD & CEO Prashant Kumar 6-month extension: Lender

Kumar got his first extension in October 2022 for a three-year period till Oct 25