Page 23 - Banking

Renewal of life insurers' policies, after 1 year, declines in June quarter

Persistency is the proportion of life insurance business renewed from the business underwritten. The ratio is measured in terms of number of policies and premiums underwritten

Focus GenNext: State Bank of India looks to reboot its HR strategy

SBI plans to engage a management consultant to develop a long-term HR strategy focusing on employee engagement, talent acquisition, and digital transformation

15 more banks to adopt RBI's MuleHunter fraud detection tool by October

Usually, there are multiple layers of such accounts from where funds are transferred within a short time to ensure that no clawing back of the funds to the rightful owner is possible

Trump's tariff clouds cast a spreading gloom over export-focused MSME mood

The downward sentiment comes despite the Composite MSME Business Confidence Index (M-BCI) indicating a favourable business environment for MSMEs

Key amendments to banking laws come into force from August 1, 2025

Reforms under the 2025 banking law include governance changes, enhanced audit rules and stronger depositor protection for PSBs, cooperative and private banks

Retail mortgage loans by NBFCs, HFCs seen at ₹20 trn by FY28: ICRA

Retail mortgage lending by NBFCs and HFCs to grow at up to 22 per cent CAGR through FY28, led by demand and limited unsecured credit availability, says ICRA

Unethical practices by some banks, NBFCs threaten trust in system: RBI DG

With the ambitious goal of a developed India by 2047, banks will need to adapt continuously to serve a more aspirational, mobile, and digitally connected population, he said

TMB eyes home advantage in Thoothukudi's investment wave; to tap MSMEs

Tamilnad Mercantile Bank (TMB) aims to capitalise on the investment surge in Thoothukudi, focusing on salary accounts and MSME lending to boost business growth amid a ₹1 trillion investment boom

IDFC First Bank's micro loan stress may bottom out in 2 quarters: MD & CEO

The bank expects its microfinance stress to ease in the next couple of quarters, after which it plans to grow its book in a measured way, while also putting a proposal to vote at the upcoming AGM

Union Bank of India puts 10 Future Group brands on block to recover dues

Union Bank of India has listed 10 brands from Future Brands Ltd, part of Kishore Biyani's Future Group, for auction in August to recover dues of over Rs 181 crore under SARFAESI

RBI proposes new regime for co-op bank branch expansion, ATM setup

New ECBA framework to replace FSWM norms; banks must meet capital, profit, and compliance standards for authorisation

Public sector banks' property e-auctions take a leap under BAANKNET

The new platform has improved the auction success rate to 14.7 per cent, up from 9 per cent under the previous system

Credit growth inches up to 9.8% as deposit growth continues to outpace

At 10.1%, deposit growth continues to outpace credit, although the gap has narrowed to 300 basis points

New national policy on cooperatives calls for apex bank for the sector

India has over 800,000 cooperative societies, comprising around 200,000 cooperatives and 600,000 non-credit cooperatives

Bank of Baroda Q1FY26 results: Net profit up 1.9%, margins compress

Bank of Baroda's Q1FY26 net profit rises 1.9%, aided by treasury income, while pressure on net interest margin continues

TMB's net profit up 6% in Q1, driven by strong lending and deposit growth

Tamilnad Mercantile Bank's net profit hits a record Rs 304.9 crore in Q1FY26, driven by strong growth in core lending and deposit businesses

Canara Bank net profit rises 22% on healthy growth in other income

Canara Bank reports a 22% rise in Q1FY26 net profit, buoyed by a 32.73% YoY increase in other income, despite pressure on its net interest margin

India's BFSI sector sees hiring boom in fraud, KYC and compliance roles

India now hosts an active talent pool of 25,543 professionals to tackle financial crimes, with skills spanning anti-money laundering, sanctions compliance, and fraud prevention

Canara Bank Q1 results: PAT rises 22% to ₹4,752 cr; income at ₹38,063 cr

During the period under review, operating profit of the bank increased to Rs 8,554 crore, as compared to Rs 7,616 crore in the same quarter a year ago

Monthly RBI bulletin: Public-sector banks slashed rates more than pvt peers

RBI report says PSBs reduced lending and deposit rates more than private banks in response to 100-bps repo rate cut; economy stays resilient amid global uncertainty