Page 33 - Banking

HSBC India's profit before tax rises 11.27% to $1.68 billion in 2024

HSBC India ranks just behind the UK and Hong Kong in terms of profit, as mainland China and Canada saw elevated profits due to one-time gains and profits from associates

PNB reports Rs 270.57 cr loan fraud by Gupta Power Infrastructure

Borrowal fraud of Rs 270.57 crore has been reported to the Reserve Bank of India (RBI) in non-performing asset (NPA) account of Gupta Power Infrastructure Ltd

Co-operative banks are well regulated now: DEA Secretary Ajay Seth

"Co-operative banks in the country are generally quite robust, and the RBI takes regulatory action whenever issues arise."

State Bank of India opens 0.63 mn accounts under Har Ghar Lakhpati scheme

Most of these accounts were opened with zero balance. Through continuous engagement with customers, the bank now has the lowest number of zero-balance Jan Dhan accounts, he added

Banks hit by AGS may turn to others for cash management operations

AGS is the second largest ATM servicing and cash management in the country with presence across 2,200 cities and towns

RBI curbs on New India Co-op Bank: Deposit insurance offers silver lining

Customers pin hopes on Rs 5 lakh insurance payout as RBI freezes withdrawals

Is 'one state, one RRB' plan right solution for struggling banks?

Do we need RRBs? Regional rural banks are fraught with problems, from financial to governance issues

SBI cuts home loan rate, EBLR by 25 bps after RBI's repo rate reduction

State Bank of India (SBI) has reduced its home loan rate by 25 bps to 8.25% and EBLR to 8.90%, following RBI's 25 bps repo rate cut to 6.25%, signalling easing rates in the system

Business correspondents to undergo digital audit, new training models

New audit envisages banks using digital technologies like video-based interviews, geo-tagging technology, and transaction-based controls, committee to be headed by top SBI official

RBI imposes curbs on New India Co-operative Bank on supervisory concerns

The bank's advances reduced to 11.75 billion rupees as of March 31, 2024, from 13.30 billion rupees a year earlier. Its deposits rose to 24.36 billion rupees from 24.06 billion rupees

Banks' margins to take 10 bps hit in FY26 due to rate cuts: Fitch Ratings

Last week, the RBI started its rate-cutting cycle by lowering its key policy rate by 25 bps to 6.25 per cent and said it would be watchful and proactive with liquidity measures

ICICI Bank to retain majority stake in ICICI Prudential Mutual fund

ICICI Bank holds 51 per cent stake in ICICI Prudential Asset Management Company while remaining 49 per cent is with its joint venture partner UK-based Prudential PLC

SBI sees sector's personal loan woes easing on tighter credit rules

Private banks and non-bank lenders have grown their personal loan books aggressively but reported an increase in bad loans in the six months through December

EMIs set to fall: PNB, Bank of Baroda, RBL Bank cut retail loan rates

The move comes after Reserve Bank of India reduced the policy repo rate by 25 bps on Friday

Due diligence of IDBI Bank's qualified bidders underway: MoS Finance

In January 2023, the Department of Investment and Public Asset Management (DIPAM) received multiple Expressions of Interest (EoI) for buying stake in IDBI Bank

Banks' net interest margins likely to decline further after RBI rate cut

Extent of NIM compression will depend on further rate cuts

Banks will wait for next qtr to see if deposit rates can be cut: C S Setty

He said the asset liability committee of the bank will meet this week and the external benchmark linked loans would be reduced from this month itself

Slowing growth of unsecured loans satisfactory: RBI Governor Malhotra

The RBI also noted that bank funding to non-banking finance companies (NBFCs) has declined following the increase in risk weight on bank loans to shadow banks

RBI ends rate cut wait; Sanjay Malhotra stresses 'less restrictive' policy

First repo cut in 5 yrs, of 25 bps to 6.25%, set to ease home loan rates; MPC keeps 'neutral' stance

Rate cut alone insufficient to boost lending amid tight liquidity: Bankers

Indian banks' loan growth has moderated for six straight months through December as the liquidity constraints forced lenders to focus on boosting deposits, instead of issuing credit