Page 26 - Banking

Indian banks outperform global peers in digital transition, daily services

Indian banks have introduced features like real-time and future-dated payments, app-based banking through messengers, and virtual card issuance for online transactions, outpacing global peers

Large banks to benefit from RBI's runoff factor move, say analysts

The new norms have allowed lowering the runoff factor on deposits from non-financial entities such as trusts to 40 per cent from 100 per cent

FY25 staff count: HDFC Bank adds just 994, ICICI Bank trims over 6K

Despite rise in number of branches, hiring slows

RBI cancels licence of Aurangabad-based Ajantha Urban Co-op Bank Maryadit

The Registrar of Cooperative Societies, Maharashtra, has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank

PSU banks lead incremental credit while share of private banks falls

Although non-food credit increased at a decelerating pace of 12 per cent year-on-year (Y-o-Y), compared to 16.3 per cent a year ago, according to the bulletin

RBI direct banks to switch to '.bank.in' domain by Oct to boost security

All banks have been advised to commence the migration of their existing domains to the '.bank.in' domain and complete the process at the earliest

RBI allows minors above 10 years to open bank accounts independently

Minors of any age can open and operate savings and term deposit accounts through their natural or legal guardian

Banks reduce savings account interest rates to protect profitability

Recently, HDFC Bank, ICICI Bank, Axis Bank and Federal Bank announced nearly 25 basis points revision in their savings account interest rates

RBI mandates 2.5% additional run-off factor on digital retail deposits

Effective April 1, 2026, the final norms could help free up lendable resources by almost ₹3 trillion estimates ICRA

RBI directs banks to increase run-off rates for digital deposits

The net impact of these measures will improve banks' liquidity coverage ratio as on December-end by around 6 percentage points, the Reserve Bank of India said in a release

Ensure liquidity measures transmitted to broader market: RBI Guv to banks

RBI Governor also called banks and primary dealers for their active roles to improve liquidity and pricing for participants like cooperative banks, pension and provident funds with smaller deal sizes

Lenders saw muted demand across sectors in the 2024 festive season

The leading contributing factors were the lack of softened interest rates, increase in risk weights on unsecured loans, and broader macroeconomic challenges

FinMin to hold high-level talks on 'One State, One RRB' execution on May 6

On April 7, the Union government released a gazette notification announcing the amalgamation of several RRBs, effective from May 1, 2025

UPI outages: NPCI, banks working on durable solution to plug gaps

The current challenge stems from the extremely high frequency of transaction status API calls

RBI cancels licence of Ahmedabad-based Colour Merchants Co-op Bank

RBI further said as per the data submitted by the co-operative bank, about 98.51 per cent of the depositors are entitled to receive full amount of their deposits from DICGC

ICICI Bank joins top peers, cuts rate for savings accounts by 25 bps

Savings account balances of up to Rs 50 lakh will now earn an interest rate of 2.75%: ICICI

ICICI Bank slashes savings account deposit interest rate by 0.25%

The second largest private sector bank's move comes days after larger rival HDFC Bank announced similar move amid a spate of cuts in deposit offerings

External audit agency uncovers Rs 1,979 crore impact on IndusInd Bank

The bank said it received the report from the external agency on April 15

NPCI meets banks, UPI apps to discuss recent outages on the platform

Sources also said that NPCI informed banks that it will be sharing a detailed to-do list, outlining specific actions that need to be implemented to strengthen the UPI ecosystem

Axis Bank cuts savings deposit rate by 25 basis points, effective April 15

HDFC Bank had earlier revised savings deposit rates by 25 bps; ICICI Bank yet to cut savings deposit rates