Page 39 - Banking

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

RBI proposes lookup facility for NEFT, RTGS; banks to comply by April 1

This facility will allow users to view and verify the name of the beneficiary before initiating a transaction, similar to the existing feature on India's real-time payment systems

Banks to provide beneficiary account name facility in NEFT, RTGS by Apr 1

The RBI circular said that all banks that are direct members or sub-members of RTGS and NEFT system are advised to offer this facility no later than April 1, 2025

Mswipe's payment business turns profitable, FY24 revenues grow 6%

In FY24, payments revenue grows 6.25% to Rs 275 crore; total payment value more than doubles to Rs 50,417 crore

Banks' gross bad loan ratio seen worsening by March 2026: RBI report

This key measure could rise to 3 per cent by the end of March 2026 from a 12-year low of 2.6 per cent in September 2024 for 46 banks under the so-called baseline scenario

High employee attrition of 25% in private banks pose operational risk: RBI

Employee attrition rates are high across select private sector banks and small finance banks (SFBs), the report, which was released by the Reserve Bank of India (RBI) said

Credit and deposit grow at 11.5% in fortnight ending Dec 13: RBI data

Credit growth in the economy, which had previously been driven primarily by retail credit, has tapered off from its peak

Low NPAs, credit growth to help PSU banks cross Rs 1.5 trn profit in FY25

PSBs reported a 25 per cent jump in their total net profit to Rs 85,520 crore in the first half of 2024-25 compared to Rs 68,500 crore in H1FY23