Page 11 - Banking Industry

HDFC Life will keep margins range bound at 25-26%: MD & CEO Vibha Padalkar

Padalkar spoke about how the company bucked the industry trend in terms of growth during Q4 of FY25 while outlining the strategy for FY26

FinMin to hold high-level talks on 'One State, One RRB' execution on May 6

On April 7, the Union government released a gazette notification announcing the amalgamation of several RRBs, effective from May 1, 2025

Banker's Trust: An 8-minute video and a general manager's promotion

Follow the rule book, don't take any initiative, don't try to be innovative. With such vigilance shackles, will public sector banks ever be able to compete with private sector banks?

Banks seek power to freeze accounts in case of illicit transactions

To check cyber fraud through mule accounts, banks are seeking authority to freeze accounts involved in channelling illicit transactions without wasting precious time in seeking permission from authorities. Banks freeze/block accounts based on internal triggers, however, as per the Prevention of Money Laundering Act (PMLA), they do not have the authority to freeze or block customer accounts without proper authorisation from a court or law enforcement agencies (LEAs). "In light of this, we may propose this as a suggestion for further consideration by the RBI," a working group constituted by the Indian Banks' Association said in a report. Mule accounts are used by fraudsters to move illegal funds through the banking system. Although banks freeze thousands of these accounts every year, fraudsters quickly create new accounts using loopholes in the system. Besides, it said, banks may look to verify and restrict accounts most vulnerable to misuse as "mule" accounts for channelling illicit

NBFCs should not take risk beyond their absorption capacity, says RBI

Swaminathan emphasises fair lending, recovery practices

Nifty Bank can hit new high, zoom to 57,000; Breakout, key levels to track

The Nifty Bank has given a breakout above 50,600 levels. Near-term bias is expected to remain positive as long as the index sustains above 50,350 and 49,865 support levels, suggests technical chart.

RBI imposes ₹75 lakh penalty on HDFC Bank, ₹68.2 lakh on Punjab & Sind Bank

According to RBI, the HDFC Bank did not categorise certain customers into low, medium or high risk category based on its assessment and risk perception

Vikram Sahu to take over as Bank of America's India country executive

Sahu has over 25 years of experience and holds a bachelor's degree from St. Stephen's College, Delhi, and attained a master's degree in the US

Public sector banks' dividend rises 33% to Rs 27,830 crore in FY24

Dividend payout by public sector banks (PSBs) have risen by 33 per cent to Rs 27,830 crore in FY24, indicating significant improvement in financial health of these lenders. PSBs declared a dividend of Rs 27,830 crore to shareholders in 2023-24 as against Rs 20,964 crore in the previous fiscal, registering an increase of 32.7 per cent, according to the government data. Of Rs 27,830 crore total dividend, nearly 65 per cent or Rs 18,013 crore was paid to the government towards their shareholding in FY24. During 2022-23, the government received Rs 13,804 crore as dividend from the public sector banks including State Bank of India (SBI). It is to be noted that 12 public sector banks recorded the highest ever aggregate net profit of Rs 1.41 lakh crore in 2023-24 against the net profit of Rs 1.05 lakh crore in 2022-23, and earned Rs 1.29 lakh crore in the nine months of the current financial year. Out of the total profit of Rs 1,41,203 crore earned during FY24, market leader SBI alone ..

Time for RBI to revisit bank CEO appointment and reappointment process

It's time for the RBI to revisit the process to clear the appointment of a bank CEO as well as the extension of their tenure

BFSI GCCs reach new heights in India with neo and mid-sized banks

Their market size is expected to grow to $395 billion in 2026, up from about $19 billion in 2018, according to PwC

RBI grants only one-year extension to IndusInd Bank CEO Sumant Kathpalia

IndusInd Bank's board had sought a three-year reappointment from RBI

Bank Nifty trades at crucial juncture; HDFC, ICICI Bank charts hint this

HDFC Bank and ICICI Bank hold over 53% weightage in the Bank Nifty, thus having a major impact on the likely trend in the banking index; check key support and resistance levels for these 3 here

Deposit insurance cover hike may dent banks' net profit up to Rs 12K cr

While the proposed increase in the deposit insurance limit is not known, under various scenarios, the insured deposit ratio (IDR) may increase to 47.0-66.5 per cent

Bank of India to pare stake in STCI Finance to meet RBI's proposed norms

A senior BoI executive told Business Standard that RBI's draft norms propose that banks engaged in the same activity as NBFCs should reduce their stake

Did bankers act as Frankenstein? Rethinking savings bank deposit strategies

Privately, many bankers admit their immediate goal is not growth but slowing the erosion of Casa deposits. They need targeted strategies for different customer segments

RBI allows Rs 25,000 withdrawal for New India Cooperative Bank depositors

50 per cent of depositors can withdraw their entire money

Banks' deposit insurance hike may be on the anvil amid periodic review

Should deposit insurance revisits be episodic? Like after the collapse of Bank of Karad in 1992 and the Punjab and Maharashtra Cooperative Bank fiasco in 2019

Tough time ahead for banking sector as low-cost funds shrink, margins drop

Given the sharp correction in equities and a drop in the flow of money to mutual funds, some banks have started seeing a return of depositors

Govt should bring down stake in PSBs, says Bank of India MD & CEO

Karnatak said that the bank's external benchmark-linked loans (EBLR) are already reflecting the rate cut by the Reserve Bank of India (RBI)'s monetary policy committee (MPC)