Page 38 - Banking

FinMin to meet bank heads on Wed to review financial inclusion schemes

The meeting, which would see participation from representatives of private sector banks, is scheduled to be chaired by Financial Services Secretary M Nagaraju

Bankers ask RBI for durable liquidity as deficit mounts to Rs 2 trillion

Economists are of the opinion that given the prevailing liquidity conditions, the RBI should prioritise liquidity management over rate cuts

SBI chief C S Setty calls for common mechanism to track SME fund usage

In recent years, fintech and banks have started to dig for credit information from publicly available data and use analytics to create a credit profile

Recovery agents are in demand as banks' unsecured loan stress rises

In July 2024, the total strength of outsourced staff in the BFSI (banking, financial services, and insurance) space was 77,000, out of which 6,000 were recovery agents

Bank officers' union calls for two-day nationwide strike on February 24-25

The trade union representing the supervisory cadre of bank employees said this decision follows its 102nd Executive Committee Meeting held on January 6

Bank officers' union threatens to call on two-day nationwide strike

Bank officers' union AIBOC on Thursday threatened to go on a nationwide strike on February 24-25 to press for their various demands, including a 5-day work week and adequate recruitment in all cadres.

Draft DPDP rules: Task cut out for banks as operational challenges loom

Banks engage in cross-selling financial products from their subsidiaries and third parties to their customer base

CS Setty, Uday Kotak nominated as governing council members of NIIFTL

Finance minister Nirmala Sitharaman is the chairperson of the six member council and secretaries of department of economic affairs and financial services are the other members

Banks' profitability likely to moderate in FY26, says India Ratings

Estimates 13.5% loan growth in FY25

FinMin to review flagship schemes with PSB chiefs ahead of Budget

The meeting aims to review the progress of various financial inclusion schemes and discuss future funding requirements in light of the upcoming Budget

Results preview: Banks' net profit growth likely moderated in Q3FY25

Margin pressures, sluggish loan offtake may weigh on performance

Banks' profitability at inflexion point, to moderate in FY26: India Ratings

The rating agency said in a release that banks' rapid improvement in financial metrics seen over financial years 2021 to 2024 is likely to have peaked and will see an "inflexion point" in 2024-25

Flat benchmark yields to weigh on banks' treasury gains in Q3FY25

While a softening of yields was observed on expectations of a rate cut, yields climbed again, tracking the rise in US Treasury yields

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