Page 5 - Bank Deposits

Interest rates on fresh term deposits and loans dip in April, shows data

The rise in rates seems to have been arrested for now at the end of May. Deposits coming from the withdrawal of the Rs 2,000 note may improve liquidity

Bank credit grows at a steady 15.5% YoY in early May, shows RBI data

Deposit mobilisation improves with 10.4% YoY growth

Banks to launch 100 days campaign to trace, settle unclaimed deposits: RBI

The Reserve Bank of India on Friday said a special 100 days campaign will be launched under which banks trace and settle their top 100 deposits in every district of the country. The banks will commence the campaign from June 1, 2023. Balances in savings/current accounts which are not operated for 10 years, or term deposits not claimed within 10 years from date of maturity are classified as "unclaimed deposits". These amounts are transferred by banks to "Depositor Education and Awareness" (DEA) Fund maintained by the Reserve Bank of India. "The Reserve Bank of India today announced a 100 Days 100 Pays' campaign for banks to trace and settle the top 100 unclaimed deposits of every bank in every district of the country within 100 days," the central bank said in a statement. This measure, it added, will complement the ongoing efforts and initiatives by the Reserve Bank to reduce the quantum of unclaimed deposits in the banking system and return such deposits to their rightful ...

Citi India plans to launch sustainability-linked deposits in coming days

Money raised from these deposits will be invested by Citi to help multinational customers meet their environmental, social and governance obligations in India

US bank deposits fall $76.2 bn, led by large institutions: Fed data

Meantime, commercial bank lending rose $13.8 billion last week on a seasonally adjusted basis

Flows into NRI deposits jump 2.5x in April-February to $6.4 billion

Outstanding deposits decline in Feb 2023 over Jan 2023

Flows into NRI bank deposits in India top $6 bn mark in April 2022-Feb 2023

Outstanding deposits decline in Feb 2023 over Jan 2023

Heirs must know what you own to claim wealth: HNIs should opt for trusts

Appoint nominees and write a Will to make the transfer hassle-free

US banking goliaths report bumper profits amid turmoil, beat estimates

The banks' earnings were bolstered by higher interest rates, which allowed them to charge more for loans above what they pay out on deposits

Wall Street bank earnings under pressure after global banking crisis

Earnings per share (EPS) for the six biggest US banks are expected to be down about 10 per cent from a year earlier, analyst estimates from Refinitiv I/B/E/S show

At 19%, BoB's loans grew faster than overall banking system in FY23

The lender's deposit growth at 15.1% YoY was also higher than the banking average

RBI to come out with centralised web portal to search unclaimed deposits

"We expect the portal to be ready in 3-4 months," said M Rajeshwar Rao, deputy governor, RBI

How banks' lending rates have gone up faster than deposit rates

According to ICICI Securities, with the credit-deposit ratio at 75.3 per cent, this could put further pressure on deposit rates

HDFC Bank garners record Rs 1.5 trillion deposits in a quarter

This is the highest in a three-month period since merger announcement with HDFC Ltd

FY23 bank credit growth highest since FY12, up 15%, shows RBI data

Banks were engaged in intense competition by offering higher interest rates on term money to mop up funds

Bandhan Bank's total deposits rise 12.2% at Rs 1.08 trn in Q4FY23

Bandhan Bank's total deposits in the fourth quarter of last fiscal stood at Rs 1,08,069 crore, registering a rise of 12.2 per cent over the same period a year ago, the private lender said. Loans and advances during the quarter ended March 31 was at Rs 1,09,112 crore, reflecting a year-on-year growth of 9.8 per cent, it said in a release. Collection efficiency of micro-lending during the period under review came in at 98.5 per cent as against 98 per cent a year ago. The Kolkata-based bank said its current account, savings account (CASA) in the quarter to March stood at Rs 42,471 crore, representing a growth of six per cent over the corresponding period a year ago. Bulk deposits were at Rs 31,125 crore compared with Rs 21,890 crore in the fourth quarter of 2021-22, registering a growth of 42.2 per cent. The loan coverage ratio (LCR) of the bank stood at 157 per cent during the reporting period, the release added.

Share of low-cost money in bank deposits dips in FY23 amid clamour for FDs

Ease of movement of funds on digital platforms and deployment of money by businesses from current accounts also played a role in pruning the share of CASA money

It's financial sector greed again

US and European regulators ignored basic risk management. But why do regulators allow financial sector firms to gamble with depositors' money?

US officials study ways to guarantee all bank deposits if crisis expands

One legal framework under discussion for expanding FDIC insurance would use the Treasury Department's authority to take emergency action and lean on the Exchange Stabilization Fund, the people said

Indian lenders expect pick up in retail deposits as interest rates rise

Currently, most large lenders offer deposit rates between 6.75% and 7.30% for 1-2 year deposits and between 5.75% and 7.25% for longer-term deposits