Page 36 - Banking

RBI releases master direction on reporting of customers credit information

As per the master direction, credit information companies (CICs) will have to send alerts through SMS/ email to customers when their Credit Information Report (CIR) is accessed by the specified users

Muted deposit and credit growth sends PSB stocks into a tailspin

While state-owned Union Bank of India reported a 2.2 per cent sequential growth in advances in Q3FY25, its deposits shrank by 2 per cent during the same period

CM Sarma pushes banks to shed funding unease over projects in Assam

Assam asks MFIs to identify borrowers to get balance payments

Falling poverty claims in SBI report spark concerns about methodology

SBI report, released on Friday, claimed a decline in poverty ratio in rural areas

HDFC Bank clocks 3% rise in loan growth in Q3, IDBI sees 18% growth

HDFC Bank reported a 15.8 per cent rise in total deposits to Rs 25.63 trillion as against Rs 22.14 trillion at the end of the third quarter of the previous financial year

DFS Secy launches 'Baanknet' portal as a one-stop property e-auction hub

According to a Finance Ministry statement, this platform consolidates information on e-auction properties from all PSBs and offers a one-stop destination for buyers and investors

Bank of Baroda to UCO Bank: Loan growth of banks picks up pace in Q3

Meanwhile, Yes Bank reported a marginal contraction in deposits during the October-December period (Q3FY25) over the previous quarter

RBI clears National, Cosmos Co-operative Bank merger, effective January 6

The branches of The National Co-operative Bank, Bangalore (Karnataka), will function as branches of Cosmos Co-operative Bank Limited (Maharashtra) with effect from January 6, 2025

State Bank of India unveils two new schemes to boost deposit mobilisation

The first is 'Har Ghar Lakhpati,' a pre-calculated recurring deposit (RD) scheme designed to help customers accumulate Rs 1,00,000

UPI transactions continue upward trajectory, hit all-time high in Dec 2024

For the full calendar year 2024, UPI-enabled platforms handled approximately 172 billion transactions, reflecting a 46 per cent annual increase

Banking credit growth to remain subdued around 10% for FY26: ICRA

The capital ratios of several banks remain comfortable, and no major growth-related capital requirement is expected for FY26, it said

Banks urge RBI to inject liquidity via foreign-exchange swaps amid crunch

The higher financing costs are posing a challenge for the RBI to support an economy that's witnessing a slowdown in manufacturing activities

FinMin asks banks, insurance firms to expedite public grievances resolution

A meeting chaired by Financial Services Secretary M Nagaraju was held in which complainants, PSBs, public sector insurance companies (PSICs) and regulators participated

Citigroup, BofA join US lenders in exiting Net-Zero Banking Alliance

They follow Wells Fargo and Goldman Sachs, which both left the alliance earlier this month

Despite CRR cut, liquidity deficit in banking system crosses Rs 2 trillion

This reduction in the CRR released primary liquidity of approximately Rs 1.16 trillion into the banking system

Looking ahead: Slowing credit growth, margin pressure await banks in 2025

Resource mobilisation was a key challenge for banks over the past two years, as deposit growth lagged credit uptake

Indian banks' gross bad loan ratio may edge up by March 2026: RBI report

The bad loan ratio could rise to 5 per cent and 5.3 per cent under two separate high-risk scenarios

Cloud, AI-ML top emerging techs adopted by Indian banks, reveals RBI survey

The survey, conducted in November 2024, included responses from 12 state-owned banks and 19 private sector banks to assess the adoption of emerging technologies

NBFCs' loan growth moderates significantly to 6.5% in H1FY24: RBI report

The corporate bond market remains a significant funding avenue for NBFCs, which are the largest issuers of bonds, with private placement being the preferred mode

Private banks masking worsening retail asset quality with write-offs: RBI

The GNPA ratio for unsecured lending was marginally higher, at 1.7 per cent