Page 24 - Banking

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

K Ramachandran appointed part-time chairman of Tamilnad Mercantile Bank

TMB board appoints veteran banker K Ramachandran as Additional Director for three years and clears his name for part-time chairman, pending RBI approval

No lock-in FDs abroad: RBI set to tighten overseas remittance rules

Reserve Bank of India plans to block overseas fixed deposits under Liberalised Remittance Scheme to curb misuse, protect forex reserves, and prevent passive capital flight by resident Indians

Banks open to MTNL debt restructuring, reject possibility of haircut

Cabinet Secretary TV Somanathan has called a meeting of various stakeholders next week to find a way out for the state-run MTNL, which has defaulted on bank loans

HDFC, ICICI Bank cut retail deposit rates after RBI repo rate reduction

HDFC Bank and ICICI Bank lower fixed deposit and savings account interest rates following the RBI's 50 basis point repo rate cut amid slow policy transmission

Finance ministry pushes public sector banks to expedite loans for weavers

Handloom organizations also benefit from an interest subvention, receiving loans at a concessional interest rate of 6 per cent for three years

Jana Small Finance Bank applies to RBI for universal banking licence

The strategic move marks a significant milestone in Jana Bank's growth journey and reflects its long-term commitment to financial inclusion, innovation, and sustainable banking, said the bank

SBI to shed ₹1.5K cr exposure to power equipment maker Regen Power

SBI to offload ₹1,550-crore stressed loan exposure in Regen Power to clean up its books; auction reserve price set at ₹240 crore

RBI to end daily VRR auctions from June 11 as liquidity improves

With net banking system liquidity in a surplus and muted demand from lenders, RBI discontinues daily Variable Rate Repo auctions introduced in January

HDFC Bank reduces MCLR by 10 bps across all loan tenures from 7 June

The MCLR for HDFC Bank now ranges from 8.90 to 9.10 per cent across tenors, following a 50 bps cut in the repo rate by the RBI's monetary policy committee last week

PNB, BoB, UCO cut lending rates after RBI slashes repo rate by 50 bps

After the RBI's surprise 50 bps repo rate cut, major state-run banks including PNB, Bank of Baroda and UCO Bank have reduced lending rates to boost transmission

Most public-sector banks see decline in headcount even as branches spread

Public sector banks (PSBs) have shown varied trends in employee strength over the last three financial years

Things 'should soon settle down': RBI on IndusInd Bank's measures

RBI says it is satisfied with IndusInd Bank's accounting clean-up post derivatives irregularities but stresses it will act if necessary and has sharpened supervision tools

Microfinance: Indicators show cautious lending, continuing stress in parts

Amid these shifts, CRIF High Mark emphasised that the sector remains on a path of long-term sustainability

T-bill yields fall below overnight rate amid RBI rate cut expectation

"This is because the system liquidity surplus is almost Rs 3 trillion and there are expectations of a deeper rate cut," said Anshul Chandak, Head of Treasury at RBL Bank

Private banks see steepest fall in credit growth to 9.5% in FY25: RBI

RBI data shows private banks led credit slowdown in FY25, while retail loans grew faster than overall credit and savings deposit share continued to decline

Central Bank acquires 25.18% stake in Future Generali India Life Insurance

At present, Central Bank of India has 25.28 per cent stake in FGILICL, which had earned a gross written premium of Rs 1,810.53 crore in FY24