Page 38 - Banking

Need active participation of pension, mutual funds in corp bond market: SBI

State Bank of India chairman C S Setty on Wednesday called for active participation by mutual funds and pension funds in the corporate bond market.

113 mn inoperative Jan Dhan accounts hold Rs 14,750 cr as of Nov 20: Govt

The percentage of inoperative PMJDY accounts for public sector banks (PSBs) declined from 39.62 per cent in March 2017 to 20.91 per cent in November 2024

Gross NPAs of public sector banks at Rs 3.16 trn, 3.1% of outstanding loans

Gross NPAs as percentage of outstanding loan was 3.09 per cent in public sector banks and 1.86 per cent in private sector banks

Princeton-educated, consensus builder Sanjay Malhotra appointed new RBI Guv

He takes over as the 26th Governor of the central bank at a time when the RBI is under pressure to cut interest rates to support growth

Sanjay Malhotra to be next RBI governor, to succeed Shaktikanta Das

Sanjay Malhotra, a 1990 batch IAS officer from the Rajasthan cadre, will take over from Shaktikanta Das, whose term comes to an end on December 10

SBI looks to sell Rs 2,732 cr of bad loans in ARSS Infrastructure Projects

Bank has invited expressions of interest from entities interested in submitting counter bids for the asset on full cash basis

RBI asks banks to collaborate with MuleHunter.AI to find mule accounts

"Use of money mule accounts is a common method adopted by fraudsters to channel proceeds of frauds," Reserve Bank of India (RBI) Governor Shaktikanta Das said

Net growth in deposits higher than advances by Rs 5.68 trn between 2020-24

Deposit growth of Indian banks had been lagging behind credit growth since the fortnight ending March 25, 2022

Bill to push banking reforms, strengthen governance gets Lok Sabha nod

Proposes up to 4 successive nominations by bank a/c holders

LS passes banking laws amendment Bill allowing 4 nominees in bank accounts

Another proposed change relates to redefining 'substantial interest' for directorships, which could increase to Rs 2 crore instead of the current limit of Rs 5 lakh

PSBs safe, stable, performed exceptionally well in recent years: Sitharaman

Replying to a debate on the Banking Laws (Amendment) Bill, 2024, the minister said that all the Public Sector Banks have turned profitable

Govt not considering PSU bank mergers: MoS Finance Pankaj Chaudhary

In a written reply to a question in the Rajya Sabha, he said several steps have been taken by the government to strengthen the financial condition of public sector banks (PSBs)

PSBs at only 42% of FY25 MUDRA disbursement target by October-end

As of October 25, MUDRA loans amounting to Rs 28,511 crore or 12.4 per cent of the annual target for PSBs, is still under process

RBI directs banks to urgently reduce inoperative or frozen accounts

This includes enabling seamless Know Your Customer (KYC) updates through mobile or internet banking, non-home branches, video customer identification processes, and more

'Har Ghar Lakhpati': State Bank of India's new mantra for deposit accretion

Country's largest lender ups the ante for resources with two new schemes set to launch this month

SBI launches nation-wide drive for activation of inoperative accounts

A savings or a current account is treated as inoperative if the customer has no transaction in the account for a period of over two years

Banks' credit to industry grows by 8% in Oct against 4.8% last yr: RBI data

Among major industries, credit to 'chemicals and chemical products', 'petroleum, coal products and nuclear fuels', and 'all engineering' recorded a higher growth in October 2024

RBI devolves 70% new green bonds at 6.78%-6.84%, cutoff below 10-year note

The RBI sold around 15 billion rupees ($177.53 million) worth of 10-year green bonds to investors at a 6.79% coupon but devolved nearly 35 billion rupees worth of the note, the first such devolvement

SBI's business may hit Rs 100 trillion in FY26, says Chairman CS Setty

Sets three-year horizon for achieving net profit of Rs 1 trn per annum

Bank-backed private life insurers' scrips tumble on banca limit reports

HDFC Life and SBI Life deny knowledge of regulator discussions