Page 54 - Banking
State Bank of India to scale up global operations through GIFT City
Diversify in trade finance through supply chain funding to MNCs
 "State Bank of India to scale up global operations through GIFT City")
SBI launches 'SME Digital Business Loans', to sanction loans in 45 minutes
Waives of financial statement requirement for SME loans below Rs 50 lakh
 "SBI launches 'SME Digital Business Loans', to sanction loans in 45 minutes")
Nabard may raise Rs 30,000 crore through bonds in FY25, says CRISIL
The money raised through the market covering bonds and money market instruments had about 51.5% share in total borrowings by Nabard at the end of March 2024
 "Nabard may raise Rs 30,000 crore through bonds in FY25, says CRISIL")
Banks need to revise plans to deal with credit and deposit growth gap: Das
Das said that the boards and top management of regulated entities should ensure that risk limits and exposures for each line of business are kept well within their respective risk appetite framework
 "Banks need to revise plans to deal with credit and deposit growth gap: Das")
Sebi warns ICICI Bank over investor outreach for ICICI Securities delisting
ICICI Securities, a subsidiary of ICICI Bank, had secured a shareholder nod in March for the delisting
 "Sebi warns ICICI Bank over investor outreach for ICICI Securities delisting")
RBI MPC June meeting underway: It's goal, members; everything explained
The RBI MPC is entrusted with the responsibility of monetary policy in India with the primary objective of maintaining price stability while keeping in mind the objective of growth
 "RBI MPC June meeting underway: It's goal, members; everything explained")
MoD inks MoUs with 4 banks to onboard them as 'SPARSH' service centres
The System for Pension Administration (RAKSHA) or SPARSH is a web-based system for processing pension claims
 "MoD inks MoUs with 4 banks to onboard them as 'SPARSH' service centres")
Why small finance banks are in no hurry to become universal banks
The fear of rejection is real. Many of the SFBs are listed on the exchanges. They are aware that no new universal bank licence has been granted in the last 10 years
 "Why small finance banks are in no hurry to become universal banks")
PNB partners with IIFCL to provide financing for infrastructure projects
A signing ceremony for the Memorandum of Understanding (MoU) took place in the presence of Atul Kumar Goel, MD & CEO of PNB, and Padmanabhan Raja Jaishankar, MD of IIFCL, it said
 "PNB partners with IIFCL to provide financing for infrastructure projects")
Will take decisive steps to stabilise banking system: FM Sitharaman
Sitharaman also said that the 'Samudra Manthan' of sorts in the banking sector under PM Narendra Modi's leadership yielded positive results along with expected challenges during the 'churn'
 "Will take decisive steps to stabilise banking system: FM Sitharaman")
Banks' loans rise 19.5% in two weeks to May 17, deposits up 13.3%: RBI
Outstanding loans fell Rs 23,207 crore ($2.78 billion) to Rs 166.09 trillion in the two weeks to May 17
 "Banks' loans rise 19.5% in two weeks to May 17, deposits up 13.3%: RBI")
Number of frauds in banking sector on the rise, but amount declines
89.2 per cent of the frauds reported in 2023-24 by value occurred in previous financial years
 "Number of frauds in banking sector on the rise, but amount declines")
RBI to allow opening of rupee account outside India to boost currency use
The RBI will permit opening of rupee (INR) accounts outside India by persons resident outside India (PROIs) as part of the 2024-25 agenda for internationalisation of the domestic currency
 "RBI to allow opening of rupee account outside India to boost currency use")
Bank frauds rise 166% in FY24 to over 36,000 cases, shows RBI annual report
RBI annual report: Amount involved in bank frauds decreased 46.7% in FY24 to Rs 13,930 cr
 "Bank frauds rise 166% in FY24 to over 36,000 cases, shows RBI annual report")
Number of frauds in banking sector rises in FY24, amount declines 47%: RBI
While small value card/internet frauds contributed maximum to the number of frauds reported by the private sector banks, the frauds in public sector banks were mainly in loan portfolio
 "Number of frauds in banking sector rises in FY24, amount declines 47%: RBI")
From ICICI to HDFC: S&P upgrades outlook on six Indian banks to positive
The rating agency said in a statement that India's banking system continues to ride the good economic growth momentum, well supported by recent structural improvements in the system
 "From ICICI to HDFC: S&P upgrades outlook on six Indian banks to positive")
Cosmos Co-operative Bank halts acquisitions; targets organic growth
So far, the bank has merged 18 small co-operative banks into itself
European Union banks seek RBI approval for third-party transaction model
Credit Agricole, Societe Generale, Deutsche Bank, BNP Paribas aim to resolve deadlock between their home authorities and Indian policymakers
 "European Union banks seek RBI approval for third-party transaction model")
Valuations, better access to capital spur fintech players' homecoming
Firms that are looking to shift their domicile back to the country may have to look at a hefty tax bill
 "Valuations, better access to capital spur fintech players' homecoming")
RBI imposes penalty on ICICI Bank and YES Bank for rule violations
RBI said these actions are based on deficiencies in regulatory compliance and are not intended to pronounce upon validity of any transactions or agreements entered into by the bank with its customers