Page 44 - Banking

Finance ministry asks banks to work on deposit mobilisation strategies

The meeting was chaired by the Department of Financial Services (DFS) Secretary M Nagaraju with the PSB chiefs and select private sector banks

Bank of Baroda and Bank of India miss FY25 deposit growth guidance

Advances of the bank grew by 20.3 per cent Y-o-Y to Rs 2 trillion

State Bank of India withdraws special fixed deposit scheme Amrit Kalash

Other banks, including HDFC Bank and Yes Bank, have also trimmed interest rates on fixed deposits for select tenures

HDFC Bank reduces deposit rates by 35 bps and 40 bps on select FDs

Now, the bank is offering a 7 per cent interest rate on deposits of up to Rs 3 crore for 35-month and 55-month tenures

PNB, CSB and several banks see credit growth outpace deposits in Q4

Sequentially, advances grew 2.4 per cent, while deposits grew by 1.7 per cent, the bank said in its quarterly update

UPI outage due to financial year-end transaction rush at banks, says NPCI

Transactions volumes declined 7 per cent on March 26 after the UPI network had reported an outage

Ireda reports 27% rise in loan sanctions in FY25 to Rs 47,453 crore

Loan disbursements rose 20 per cent to Rs 30,168 crore from Rs 25,089 crore in 2023-24, as per the provisional data shared by the company

BankTech investment projected to hit $1 bn by 2027 end: Cedar-IBSi Capital

It said as the country is progressing towards achieving its gross domestic product target of $7 trillion by 2030, the banking sector will be a key driver

AU Small Finance Bank raises Rs 770 crore via Tier-II bond issuance

With this fund raise, AU SFB has achieved one of the largest bond issuances by any small finance bank, with the deal closing on the last working day of the financial year FY25

Interest rates on small savings schemes unchanged for April-June quarter

As per the notification, deposits under the Sukanya Samriddhi scheme will attract an interest rate of 8.2 per cent, while the rate on a three-year term deposit remains at 7.1%

SBI's C S Setty elected as chairman of Indian Banks' Association

The managing committee of the industry lobby grouping elected Setty, the SBI chairman, to lead the body till the next annual general meeting, as per an official statement

ATM interchange fee hike puts spotlight on micro-ATMs, financial inclusion

The gap of nearly Rs 4 could affect the business correspondent network, which derives nearly 40 per cent of its revenue from the micro-ATM network

Tata Neu HDFC Bank cobranded card surpasses 2 million issuances

Grocery, fuel and utilities are among the top spend categories for the credit card

Banking system net liquidity improves on back of RBI's swap auction

The net liquidity in the banking system was in a deficit of Rs 1.57 trillion on Tuesday, Reserve Bank of India (RBI) data showed

Indian banks' loan growth slows for 8th straight month in Feb: RBI data

The data showed that banks' credit increased by 12 per cent year-on-year last month, slower than the 16.6 per cent rise a year earlier

No major lapses found in gold loan portfolios of PSBs after audit: FM

Sitharaman was replying to the discussion on the Banking Laws (Amendment) Bill, 2024. Later, the Rajya Sabha passed the Bill by voice vote

RBI imposes ₹75 lakh penalty on HDFC Bank, ₹68.2 lakh on Punjab & Sind Bank

According to RBI, the HDFC Bank did not categorise certain customers into low, medium or high risk category based on its assessment and risk perception

Parl approves Banking Laws (Amendment) Bill; Oppn says it lacks safeguards

PP Suneer (CPI) alleged that Indian banking system has been mismanaged to favour large corproate interest

RRBs earned record profit of Rs 7,571 cr in FY24: Govt tells Rajya Sabha

The net NPA has declined from 4.7 per cent in 2021-22 to 2.4 per cent in 2023-24

Banks set to make treasury gains in Q4 FY25 as bond yields soften

The yield on the 10-year benchmark government bond fell 8 basis points in the previous week - the steepest weekly decline in four months, since November 30, 2024 - to settle at 6.62 per cent