Page 58 - Banking
SBI plans to open 400 new branches across country in FY25: Chairman Khara
The country's biggest lender opened 137 branches last fiscal
 "SBI plans to open 400 new branches across country in FY25: Chairman Khara")
Shorter duration to comply reason for banks' delay to join BBPS
Payments industry hoping for an extension of the deadline
 "Shorter duration to comply reason for banks' delay to join BBPS")
UCBs should ensure proper credit underwriting, NPA recovery: RBI Governor
The RBI today held a Conference of Directors of UCBs in the Western Zone in Ahmedabad. The theme of the conference was 'Governance in UCBs - Driving Sustainable Growth and Stability'
 "UCBs should ensure proper credit underwriting, NPA recovery: RBI Governor")
Bank-NBFC interconnectedness poses systemic risks: RBI ED Lakshmi Kanth Rao
"Sector needs strong regulatory standards to ensure no gaps"
 "Bank-NBFC interconnectedness poses systemic risks: RBI ED Lakshmi Kanth Rao")
Bring InvITs within ambit of bankruptcy law for recoveries: SBI MD
The long-term nature of assets has to be supported by long-term liabilities or there has to be take-out financing. This is starting to happen with the rise in Real Estate Investment Trusts and InvITs
 "Bring InvITs within ambit of bankruptcy law for recoveries: SBI MD")
Ex-RBI DG asks regulators to 'introspect' after recent instances of unease
The career central banker, who served as the Deputy Governor of the RBI for three years ending 2017, cited recent instances involving both the RBI and Sebi
 "Ex-RBI DG asks regulators to 'introspect' after recent instances of unease")
Rising deposit costs to weigh on NIMs, RoA of banks: CRISIL Ratings
Deposit costs are seen increasing 25-30 basis points in FY25, after rising about 140 basis points since May 2022
 "Rising deposit costs to weigh on NIMs, RoA of banks: CRISIL Ratings")
Indians' funds in Swiss banks plunge 70% to hit 4-year low of Rs 9,771 cr
The amount in customer deposit accounts and funds held through other bank branches in India also declined significantly, the data showed
 "Indians' funds in Swiss banks plunge 70% to hit 4-year low of Rs 9,771 cr")
Banks urge RBI to separate pvt, public infra projects in financing norms
Banks are dissatisfied with this arrangement and prefer a graded approach with an initial allocation requirement of 1-2 per cent, which is an increase from the current requirement of 0.4 per cent
 "Banks urge RBI to separate pvt, public infra projects in financing norms")
BoE keeps key interest rate at 16-year high of 5.25% despite inflation fall
The Bank of England on Thursday kept its main interest rate at a 16-year high of 5.25 per cent, even though inflation has fallen to its target of 2 per cent.
 "BoE keeps key interest rate at 16-year high of 5.25% despite inflation fall")
SBI to raise up to Rs 20,000 cr via long-term bonds to fund infra projects
The bonds to be issued in tranches depending on market conditions
 "SBI to raise up to Rs 20,000 cr via long-term bonds to fund infra projects")
RBI cancels licence of The City Co-operative Bank over inadequate capital
The Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra has also been asked to issue an order for winding up the bank and appoint a liquidator, RBI said
 "RBI cancels licence of The City Co-operative Bank over inadequate capital")
Retail inflation steadily easing, food prices still a concern: RBI bulletin
In India, high-frequency indicators suggest the real GDP growth in Q1 FY2024-25 is broadly maintaining the pace it achieved in the preceding quarter
 "Retail inflation steadily easing, food prices still a concern: RBI bulletin")
RBI sold net $3.6 bn in spot forex market in April: Monthly bulletin
The Indian rupee was little changed month-on-month in April but fell to its record low of 83.5750 during the month while its upside was capped at 83.15
Banks struggle with ATM shortage as 'Make in India' policy disrupt supply
The initial cause of low number of ATMS across India is linked to the "Make in India" guidelines introduced in FY20, which required vendors to establish operations in India, leading to a delay
 "Banks struggle with ATM shortage as 'Make in India' policy disrupt supply")
Dhanlaxmi Bank appoints Ajith Kumar KK as MD & CEO for 3-year tenure
Ajith Kumar KK will take charge on June 20, Kerala-based Dhanlaxmi Bank said in a regulatory filing
 "Dhanlaxmi Bank appoints Ajith Kumar KK as MD & CEO for 3-year tenure")
Digital loans up 49% in FY24 by value, Rs 1.46 trn disbursed: Industry body
According to Fintech Association for Consumer Empowerment (FACE), the number of loans disbursed grew by 35 per cent to over 10 crore borrowings in FY24
 "Digital loans up 49% in FY24 by value, Rs 1.46 trn disbursed: Industry body")
DICGC exceeds global average with month-long depositor payout: Patra
In India, deposit insurance is mandatory for all banks, including foreign banks. As of now, 1,997 banks are covered, which includes 140 commercial banks and 1,857 co-operative banks
 "DICGC exceeds global average with month-long depositor payout: Patra")
State Bank of India indicates another 10-15 basis points MCLR hike
Loans to companies are linked to the MCLR, which depends on the cost of the funds of a bank. Retail loans are linked to the external benchmark lending rate (EBLR)
 "State Bank of India indicates another 10-15 basis points MCLR hike")
PSBs outshine private, foreign peers in technical efficiency: SBI report
SBI report says takeover of weaker banks affected productivity of acquiring ones