Page 55 - Banking

'Most SFBs would not clamour to become universal banks if RBI eases curbs'

To promote financial inclusion in the country, RBI, in 2014, issued the guidelines for licensing of small finance banks (SFBs) in the private sector

RBI shifts to NDFs as preferred forex reserves intervention option

The Reserve Bank of India (RBI) has traditionally been more active in the local over-the-counter (OTC) spot market to keep the rupee stable

ESAF SFB evaluating conversion to universal bank: MD & CEO Paul Thomas

In April, the Reserve Bank of India (RBI) came out with guidelines for the voluntary conversion of SFBs to universal banks.

Bank Holidays 2024: Banks to observe four consecutive holidays this week

Banks in various states might close for four-day this week, because of Buddha Purnima, Nazrul Jayanti/2024 General Elections and the Saturday-Sunday weekend holidays, as per the Reserve Bank of India

Bank of Maharashtra tops among PSU lenders in business growth in FY24

Similarly, BoM continued to maintain its top spot in terms of growth in deposit mobilisation

N Vaghul: Institution Builder and ex-ICICI Bank chairman passes away at 88

He was admitted at Apollo Hospital in Chennai two days ago after he fell and was unconscious. He is survived by his wife, daughter and son, family sources said

RBI flags supervisory concerns over functioning of debt recast companies

Regulator calls for responsible conduct in recovery process

PSB loan growth lags industry; cautious approach to protect margins

According to RBI, the share of external benchmark linked loans (EBLR) in total outstanding floating rate loans increased to 56.2 per cent as at end-December 2023 from 49.6 per cent in March 2023

Indian banking industry increases their cyber insurance cover in FY24

The cyber insurance claims ratio by the banking industry in India has increased to over 50 per cent in financial year 2022-23 as compared to 40 per cent in financial year 2021-22

Banks' underwriting standards at risk amid consumer loan growth: Fitch

Indian banks have reported strong loan growth over the last few quarters, boosted by consumer spending amid firm economic growth

Corporate loan rejig underway to improve margins: Canara Bank MD & CEO

Raju says the bank expects to improve net interest margin (NIM) on completion of this corporate loan rejig

RBI project finance norms: Will absorb additional provision, says SBI chief

Provision buffer of Rs 33, 000 crore sufficient for ECL norms

RBI removes restrictions on BoB app, allows new customer enrollment

Bank will now on-board customers through mobile app

Commercial banks for 1-2% project finance provisioning; RBI proposed 5%

Industry sees short-term pain

Want to bring down retail loan growth: YES Bank MD & CEO Prashant Kumar

Kumar says the core capital of the bank is set to improve after investors - Carlyle group and Advent International - convert the warrants into equity

IOB adopts multi-pronged approach to ensure recovery from NPA accounts

To sustain and bolster this momentum, the bank has published a sale notification that pertains to the sale of 92 NPA loans, aggregating to an outstanding due of Rs 13,471.68 crore

RBI says 97.76% of Rs 2,000 currency notes returned to banking system

People can deposit and/or exchange Rs 2000 banknotes at 19 RBI offices across the country. People can also send Rs 2000 bank notes through India Post to any of the RBI Issue Offices

Standard Chartered Q1 2024 results: Profits rise 5.5%, beat estimates

Despite the forecast-beating quarterly profit, the bank saw its credit impairments worsen in 2024

May 1 bank holiday: Are banks closed today? Check state-wise list

Banks will remain closed in some states on May 1 in observance of Maharashtra Day and May Day

Jana SFB may apply for universal bank licence in next financial year

Last week, the Reserve Bank of India spelt out a glide path for SFBs to convert into universal banks.