Page 3 - Banking

Value of CDs climbs to ₹5.75 trillion, rates cross 7% for marquee banks

Deposit tightness has pushed certificate of deposit outstanding to a record ₹5.75 trillion, with marquee banks raising one-year funds at over 7%

Directors' cut: Bank board reform hangs in balance amid governance rethink

As the banking landscape grows more complex, board oversight requires urgent finetuning. Expect Mint Road to tighten governance frameworks

Kotak Mahindra Bank consol Q3 net profit up 5% YoY to ₹4,924 crore

The bank reported marginally higher provisions in Q3 at ₹810 crore, up 2 per cent YoY. However, sequentially, provisions of the lender was down 15 per cent

A fresh transaction: Visa readies India swipe of debit-cum-credit card

Visa plans to bring its dual debit-credit card to India, letting users switch funding sources via a single 16-digit credential, after strong success in Japan

RBI to infuse ₹1.25 trillion; $10 billion dollar-rupee buy-sell swap

OMOs will involve the purchase of Government of India securities worth ₹1 trillion in two tranches of ₹50,000 crore each on February 5 and February 12

Arijit Basu: The veteran SBI banker who will now chair IndusInd Bank

Arijit Basu quits HDB Financial Services and is appointed part-time chairman of IndusInd Bank, replacing Sunil Mehta, who demits office at end of his term

Axis Bank puts Axis Finance stake sale on hold after RBI eases rules

Axis Bank has paused plans to sell a stake in its consumer lending arm, Axis Finance, after the RBI eased proposed curbs on overlapping bank and subsidiary businesses

Banks raise Rs 89.5k crore via CDs in December fortnight, rates surge

Banks raised Rs 88,512 crore through certificates of deposit in the last fortnight of December as deposit growth lagged credit growth, pushing short-term borrowing rates above 7 per cent

Retail credit portfolio led by 31-40 age group, shows CRIF High Mark report

CRIF High Mark's Credit Insight Report 2026 shows borrowers aged 31-40 dominate portfolio value, while younger borrowers account for higher early-stage delinquencies in retail credit

UFBU unmoved on five-day week demand; January 27 bank strike to go ahead

The unions said that even during an earlier conciliation held on March 21, 2025, they were assured that the matter was under serious consideration, but no decision has been communicated till date

Bank unions to go on strike on Jan 27, say govt delaying five-day work week

800,000 employees to observe one-day protest, want all Saturdays to be made bank holidays

Budget 2026: PSU bank's officers union seeks tax relief on leased housing

Bank of Maharashtra union urges Centre to amend rules to exclude leased accommodation and concessional staff loans from taxation

PSBs urge RBI to include state development loans in OMO auctions

Public sector banks have asked the RBI to include state development loans in OMO purchases as SDL spreads widen sharply due to heavy state bond supply

RBI Guv calls for tighter governance, asset oversight in urban co-op banks

In his remarks, Malhotra highlighted the continued relevance of UCBs in credit delivery particularly to the underserved areas and in expanding financial inclusion, RBI said in a statement

Rate cuts drive stronger loan growth, boosting profits for India's banks

Banks will see loan growth pick up in the October-December quarter after the RBI's rate cuts last year and the 100 basis points cut to the cash reserve ratio in June

CD ratio won't constrain HDFC Bank's loan growth aspirations: MD Jagdishan

HDFC Bank said its elevated credit-deposit ratio will not constrain loan growth, while reiterating a glide path to bring it down to 85-90 per cent by FY27

NBFCs seek lower Sarfaesi limit for debt resolution, better harmonisation

Non-banking financial companies are taken up the matter with the Reserve Bank of India and the ministry of finance, seeking the same threshold that banks and some other lenders enjoy

Bank credit to grow 13% in FY27 despite high LDR constraints: Ind-Ra

India Ratings expects bank credit to grow 13 per cent in FY27, supported by GST rationalisation, lower inflation and improved consumption, though high loan-deposit ratios remain a challenge

Japan's SMBC gets RBI's in-principle nod for wholly owned arm in India

The in-principle approval allowed the bank to set up the wholly owned subsidiary through the conversion of its existing branches in the country

NPCI BHIM Services set to provide Canara Bank with UPI payments tech

Bank will integrate NBSL's bank plugins to host latest UPI features and upgrades on its app, aiming to improve security and scalability while lowering the cost of maintaining an independent interface