Page 60 - Banking

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

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

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

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

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

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

'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