Page 2 - Banking

Identify recurring complaints: RBI DG Swaminathan to internal ombudsmen

RBI Deputy Governor Swaminathan J has urged internal ombudsmen to identify recurring complaints, conduct root-cause analysis and help strengthen grievance redress across regulated entities

Indian Bank aims to recover up to ₹5,500 crore from bad loan in FY27: MD

The state-run lender recovered ₹1,885 crore in the June quarter and aims to mobilise $2 billion in FCNR(B) deposits by September while strengthening its low-cost deposit base

A first in 9 years: HDFC Bank trims workforce amid tech, AI ramp up

India's third largest private sector lender, Axis Bank had also reduced its workforce by around 3,100 in FY26 as investments in technology over the years began yielding productivity gains

FM Sitharaman to meet PSB chiefs to review foreign currency deposit drive

The finance minister will review the progress of the FCNR(B) deposit mobilisation campaign and discuss overseas borrowing plans as the RBI's temporary incentives remain in place until September 30

Bank credit growth hits two-year high of 18.6% in June-end fortnight

Deposits rise by nearly Rs 7 trillion in the fortnight, third highest in 29 years

Indian Bank, Bank of Maharashtra begin Q1 earnings season on a high

Indian Bank looks to mobilise $2 bn in FCNR (B) deposits

Banks priority sector lending models may need a rethink, says SBI report

With banks comfortably exceeding lending targets and PSLC trading surging, experts say the RBI may need to revisit the priority sector lending framework to better serve financial inclusion goals

HSBC, Citi, DBS among 17 banks to pilot Swift's blockchain ledger

The pilot will enable participating banks to support round-the-clock cross-border payments using tokenised deposits while settling transactions through existing payment systems

Federal Bank gets inaugural BBB- investment-grade issuer rating from S&P

S&P Global Ratings assigned the private sector lender a BBB-/Stable long-term issuer credit rating, recognising its franchise strength, capitalisation and financial resilience

Mobilisation test: Foreign banks' leverage key to FCNR (B) inflows

Foreign banks' India exposure limits may shape FCNR(B) inflows as Indian lenders tweak deposit rates and tenors to attract NRI funds under the RBI scheme

RBI approves Mahesh Pai as South Indian Bank MD & CEO for three years

Yet another public sector banker takes charge of a pvt bank; Stock plunges 8.5%

611 million UPI transactions authenticated using biometrics in June

More than 611 million UPI transactions worth Rs 25,416 crore were authenticated using biometrics in June, reflecting rising adoption of fingerprint and facial recognition

RBI clears Mahesh Muralidhar Pai's appointment as South Indian Bank MD, CEO

Mahesh Muralidhar Pai will take charge as managing director and CEO from October 1 for a three-year term, subject to board and shareholder approvals

Credit card penetration lags in India despite better asset quality: Cibil

India has 52 million people having credit cards, which is just 25 per cent of the overall credit active population of about 250 million people, said a top official at Transunion Cibil

SBI seeks priority sector status for all infra loans to boost investment

State Bank of India has proposed granting priority sector status to all infrastructure loans or excluding them from ANBC calculations to encourage higher infrastructure investment

Bank of Maharashtra reports 27% loan growth, 13% deposit growth

Domestic corporate loans expanded 21 per cent YoY to Rs 1.11 trillion

NBFCs drive securitisation issuances to record first-quarter high: Crisil

NBFCs accounted for over 98% of securitisation issuances in April-June 2026, with gold loans emerging as the largest asset class amid robust investor demand and healthy retail credit growth

Indian banks curb short-term debt sales as RBI aids cheaper forex funding

No certificate of deposit issuance was recorded over three trading sessions as lenders turned to cheaper overseas forex funding backed by the RBI

Axis Bank leads large private banks in loan, deposit growth in Q1FY27

Axis Bank posted the strongest growth in loans and deposits among large private banks in Q1FY27, while HDFC Bank and Kotak Mahindra Bank also reported healthy balance-sheet expansion

SBI to hire 1,500 probationary officers this year to drive business growth

Of the total, 1,446 are regular vacancies, and the remaining 54 are backlog vacancies, SBI said in a recruitment notice