Page 59 - Banking
FSIB suggests 5 chief general managers for position of EDs in PSU banks
The final decision on the FSIB recommendation would be taken by the Appointments Committee of the Cabinet, headed by Prime Minister Narendra Modi
 "FSIB suggests 5 chief general managers for position of EDs in PSU banks")
RBI cancels licence of Purvanchal Co-op Bank over lack of adequate capital
The Commissioner for Cooperation and Registrar of Cooperative Societies, Uttar Pradesh has also been asked to issue an order for winding up the bank
 "RBI cancels licence of Purvanchal Co-op Bank over lack of adequate capital")
India Inc seeking Rs 5 trillion credit to fund capex: SBI Chairman Khara
Unlike the past few years, when the corporates had sufficient cash surplus on their balance sheet, they have started looking for credit to fund working capital requirements, said SBI chief
 "India Inc seeking Rs 5 trillion credit to fund capex: SBI Chairman Khara")
India Inc files ECB plans worth $4.28 bn in April, shows RBI data
The registrations for ECBs by Indian companies almost doubled to $49.2 billion in the year ended March 2024 (FY24) from $26.6 billion in FY23
Commercial banks credit growth to moderate to 12-14% in FY25: Moody's
Resource mobilisation challenge, regulatory nudge to weigh on growth
Deposit rates at peak; will move downwards in medium term: SBI Chairman
The country's largest lender also said the RBI may start easing the interest rate cycle from the third quarter of the current financial year
IBA to ask RBI to not alter capital requirement for infra projects: Report
If the RBI's proposal is implemented as is, "the impact will be very modest", Girishkumar Kadam, senior vice president and group head - corporate ratings at ICRA, said at a media briefing
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")