Page 34 - Banking
UCB directors must probe management to boost governance: RBI's Swaminathan
RBI advises UCB directors to ask tough questions to senior management to ensure ethical, transparent, and prudent operations, aiming to prevent distress in the banks
 "UCB directors must probe management to boost governance: RBI's Swaminathan")
Private sector bank chiefs take home hefty compensation cheques in FY25
Public sector banks' chiefs trail far behind, with the chairman of SBI, India's largest lender, earning a fraction of what private sector banks' chief executives make
 "Private sector bank chiefs take home hefty compensation cheques in FY25")
India's retail asset-backed securities market shows potential for growth
The retail asset securitisation market is poised for moderate growth in FY26, as indicated by the volumes of ₹52,000 crore in Q1FY26 and a notable shift towards PTC issuances
 "India's retail asset-backed securities market shows potential for growth")
HDFC, Axis Bank see sharp drop in attrition in FY25 amid training push
Attrition at HDFC Bank and Axis Bank declined in FY25 due to stronger employee engagement, women-focused retention efforts, and new learning and mentoring programmes
 "HDFC, Axis Bank see sharp drop in attrition in FY25 amid training push")
Bank of Maharashtra Q1 FY26 results: Profit rises 23% to ₹1,593 crore
The Pune-based lender had posted a net profit of ₹1,293 crore in the April-June period of the previous year
 "Bank of Maharashtra Q1 FY26 results: Profit rises 23% to ₹1,593 crore")
HDFC Bank CEO Sashidhar Jagdishan's plea to quash FIR adjourned to July 23
HDFC Ltd merged into HDFC Bank on July 1, 2023, creating a financial behemoth. The bank recalibrated its loan growth in FY25 to bring down the elevated credit-deposit (CD) ratio post-merger
 "HDFC Bank CEO Sashidhar Jagdishan's plea to quash FIR adjourned to July 23")
Citi's India head of commercial banking exits after 25 years with bank
Citi confirms the departure of Bhanu Vohra, its India head of commercial banking, after 25 years with the bank. The firm is set to announce a successor soon
 "Citi's India head of commercial banking exits after 25 years with bank")
Confident of growing our advances on par with industry: HDFC Bank CEO
Jagdishan said that in the last financial year, the bank reported healthy growth while maintaining pristine asset quality, which has been its USP across business cycles
 "Confident of growing our advances on par with industry: HDFC Bank CEO")
Amount parked in RBI's SDF window declines on back of VRRR auctions
The amount parked by banks in the Reserve Bank of India's SDF window has fallen significantly, driven by VRRR auctions, with the call rate aligning closer to the repo rate
Over 20 NPAs with ₹500 crore outstanding on sale by Punjab & Sind Bank, IoB
Punjab & Sind Bank and Indian Overseas Bank have put up over 20 non-performing accounts (NPAs) for sale, with a total principal outstanding of ₹500 crore, via a Swiss challenge auction
 "Over 20 NPAs with ₹500 crore outstanding on sale by Punjab & Sind Bank, IoB")
Indian Bank hands over sanction letters worth ₹1,011 cr to over 3,000 women
More than 3,000 women from various self-help groups across Tamil Nadu were part of the event
 "Indian Bank hands over sanction letters worth ₹1,011 cr to over 3,000 women")
Loans against gold, silver pledge up to limit not norm violation: RBI
RBI clarifies that loans sanctioned by banks against voluntary pledges of gold and silver, up to the collateral-free limit, do not violate the central bank's guidelines on collateral
 "Loans against gold, silver pledge up to limit not norm violation: RBI")
RBI to intensify scrutiny of bank auditors after governance lapses
With governance concerns at IndusInd and Karnataka Bank, RBI is expected to tighten its engagement with statutory auditors and examine the role of board sub-committees more closely
 "RBI to intensify scrutiny of bank auditors after governance lapses")
Banks flush with funds but reluctant to pursue aggressive lending
Loan growth for banks is yet to pick up despite a 100 bps cut in the policy repo rate by the Reserve Bank of India (RBI) since February
 "Banks flush with funds but reluctant to pursue aggressive lending")
SBI, other public sector banks to raise $5.25 bn through QIPs in FY26
State-run banks, led by SBI, plan to raise ₹450 billion via QIP in FY26, with the government also targeting stake sales in multiple PSU banks by October
 "SBI, other public sector banks to raise $5.25 bn through QIPs in FY26")
Financial bidding for IDBI Bank expected to conclude by October 2025
"All things have at the high pace and IDBI bank will be completed by October 2025," said the official.
 "Financial bidding for IDBI Bank expected to conclude by October 2025")
Govt banks step up efforts to bridge linguistic chasm with customers
State-owned banks are prioritizing local language skills in their hiring to improve customer service and reduce language barriers, with Bank of Baroda and SBI leading the way
 "Govt banks step up efforts to bridge linguistic chasm with customers")
Corporate 'fraud accounts' pose tough challenges for banking system
SBI also reported former chairman of the group Anil Ambani to the Reserve Bank of India (RBI)
 "Corporate 'fraud accounts' pose tough challenges for banking system")
Wooing depositors: PSBs waiving minimum account balance penalties
May raise risk of increasing dormant accounts in the system
 "Wooing depositors: PSBs waiving minimum account balance penalties")
FinMin directs public sector banks to evaluate board performance
"Independent third-party board evaluations are a widely accepted global practice, and India has only recently begun adopting them," remarked S. Krishnan
 "FinMin directs public sector banks to evaluate board performance")