Page 39 - Banking

Banks must offer KYC update to reactivate inactive accounts: RBI draft

RBI's draft proposes KYC updates at all bank branches and via video to ease activation of inoperative or unclaimed accounts and reduce dormant deposit numbers

RBI eyes interest rate relief for borrowers with co-lending rules

Message conveyed at meet between RBI officials & fintechs

Punjab & Sind Bank, IoB chiefs likely to get extended tenures soon

"Granting extension of tenures to PSB & IOB MDs is at a final stage. Both MDs have two years of services left. The final notification will come soon," said the source

Emirates NBD gets RBI in-principle nod to set up wholly owned subsidiary

Dubai-based Emirates NBD has received RBI's in-principle approval to convert its three India branches into a wholly owned subsidiary to deepen domestic banking services

SBI slashes domestic term deposit rates by 20 basis points across tenors

SBI cuts fixed deposit rates by 20 bps across tenors from May 16, citing improved liquidity and policy rate cuts; highest interest now at 6.7 per cent for 2-3 years

RBI gives in-principle nod to Emirates NBD for India subsidiary setup

Emirates NBD Bank PJSC is currently carrying on banking business in India in branch mode through its branches located in Chennai, Gurugram and Mumbai

RBI cancels licence of HCBL Co-op Bank due to capital, earnings shortfall

The Reserve Bank on Monday said it has cancelled the licence of Lucknow-based HCBL Co-operative Bank as the lender does not have adequate capital and earning prospects.

Mint Road's enforcement framework shifts focus to governance premium

The woes at IndusInd Bank have put the spotlight back on a key initiative the banking regulator's Enforcement Department set rolling in FY24

Centre plans to list at least five regional rural banks by FY27-end

Post the latest amalgamation effective May 1, there are 28 RRBs in 26 states and 2 UTs with more than 22,000 branches covering 700 districts

Banks, NBFCs may need IT overhaul to meet RBI co-lending norms: Bankers

Bankers say RBI's co-lending draft norms may require significant IT upgrades and clarification on the CLM 2 model to ensure compliance and operational readiness

IndusInd Bank may face hit to core profit and biz growth: Brokerages

Brokerages lower FY25 and FY26 estimates after IndusInd Bank audit reveals ₹674 crore income misreporting and ₹595 crore in unsubstantiated balances

RBI penalises Deutsche Bank, YES Bank for breaching compliance norms

Deutsche Bank and YES Bank fined ₹50 lakh and ₹29.6 lakh respectively for violating RBI directions on credit reporting and disclosure of customer complaints

SMBC's 20% stake purchase is credit positive for Yes Bank: Moody's

Moody's says SMBC's investment in Yes Bank adds a strategic partner with strong funding and governance credentials, though affiliate support not yet factored in

Canara, Union Bank announce special deposit schemes to boost growth

The product offers a flexible benefit system like charge waivers and concessions which is linked to the previous month's Monthly Average Balance (MAB)

ATMs slide into the shadows as digital transactions take centerstage

With the Covid-induced surge in UPI transactions now firmly here to stay, banks are rethinking their strategies - and costs - on ATMs, especially for off-site machines

PSBs introduce AI-driven soft skill training to enhance customer service

It comes against the backdrop of stagnating deposit growth at major public sector banks (PSBs) and concerns in the Ministry of Finance about inconsistent customer service

State-run banks cautious; target modest 11-13% credit growth in FY26

Bankers said credit growth is expected to be sluggish in FY26 owing to weaker demand across unsecured loans, mortgages

PNB aims 58% of total loan book in FY26 from retail, agri, MSME loans: MD

Sharing the various initiatives taken to increase RAM, Chandra said the bank had conducted outreach activities for giving push to both retail and MSME lending in February

Indo-Pak tensions: PSBs fortified ops in sensitive areas along border

Banks such as Punjab & Sind Bank, Canara Bank, Union Bank of India, and Punjab National Bank have asked their circle heads to stay in their zonal offices

Legacy issues behind us, PNB is charting a new growth path: Ashok Chandra

The bank has reported a 14 per cent rise in total business at Rs 26.83 trillion in FY25, one of the highest in the banking system