Page 15 - Banking Industry

Small ticket transactions drag avg retail payments value by 48% in 3 years

The increasing adoption of digital transactions is evident in the robust growth of India's real-time payments system, Unified Payments Interface (UPI)

Banking frauds rise in H1FY25, amount involved jumps eightfold: RBI report

The number of bank frauds witnessed a significant on-year increase in the first half of the current fiscal to 18,461 cases and the amount involved jumped more than eight-fold to Rs 21,367 crore, according to RBI data released on Thursday. The Reserve Bank of India has released the Report on Trend and Progress of Banking in India 2023-24 which presents the performance of the banking sector, including commercial banks, co-operative banks and non-banking financial institutions, during 2023-24 and 2024-25 so far. The report said the number of frauds during April-September stood at 18,461 involving Rs 21,367 crore compared to 14,480 cases involving Rs 2,623 crore in the comparative period of the last financial year, based on the date of fraud reporting. It further said frauds present multiple challenges for the financial system in the form of reputational risk, operational risk, business risk and erosion of customer confidence with financial stability implications. Regarding 2023-24 fis

Banks' balance sheets stay robust, bad loans decline more: RBI report

The report said that net bad loans of banks fell to 0.57 per cent of total loans at September-end, from 0.62 per cent at end-March, driven by stronger loan-loss buffers

Business correspondents meet Irdai, seek consent to sell insurance products

BCRC's stance is that shocks from climate-related issues are affecting those at the bottom of the pyramid in a big way

Govt appoints Ram Mohan Rao Amara as SBI MD for a period of three years

Rao was holding the post of deputy managing director and chief risk officer of the country's largest bank until his appointment as managing director

As economy grows, Indian banks will have to expand dramatically: Kamath

Indian banks have a healthy return on equity (ROE) rate of 15 to 20 per cent, which is sufficient for the sector to grow and meet the capital requirements to 'bulk up'

Banking law amendments to make inheritance of deposits unambiguous

To improve governance, customer services says experts

FinMin issues advisory to banks to promote transparency in transfer policy

The Finance Ministry on Tuesday issued a host of suggestions with regard to 'Transfer Policy' of public sector banks with an aim to promote greater transparency. According to an advisory issued to heads of public sector banks (PSBs), the Department of Financial Services asked lenders to incorporate advices suitably in their respective 'Transfer Policy' with the approval of their boards and take immediate action for its implementation and compliance from 2025-26. "PSBs are also advised to send a copy of the policy, so modified, to this Department, at the earliest," the communication said. The transfer policy has been reviewed with an aim to promote greater transparency and ensure formulation of a uniform and non-discretionary policy, it said. Some of the changes advised include banks to automate the transfer process and to develop an online process for the same with facilities of giving location preference options to its employees, it said. "Women employees be transferred as far as

Attracting and retaining talent remains key concern in banking: KPMG Report

Majority banking leaders across the world say they would be willing to reward employees who made effort to return to office

State Bank of India plans to open 300-400 branches a year in medium term

SBI had 22,640 branches at the end of September 2024, up from 15,870 in March 2014

SBI Q2 results: Net profit rises 28% to Rs 18,331 cr, beat estimates

Other income expands sharply but provisioning too

BFSI Summit: Industry experts discuss future growth paths for NBFCs, MFIs

Business Standard BFSI Insight Summit 2024: Industry experts share insights into reach, regulatory pressures, growth opportunities for non-banking financial companies, microfinance institutions

Banking sector to be in sweet spot as long as economy is robust: PSB chiefs

Top public sector bank executives underlined that the customers are now the centrepiece for banks during a panel discussion at the Business Standard BFSI Insight Summit in Mumbai

FinMin seeks comments from sponsor banks on proposed RRB amalgamation

The proposed document said the RRB with the largest business (total deposits and advances) among the amalgamating RRBs in a state would be the transferee RRB in that state

Deposits outpace credit growth after 30 months, hinting at stability

Credit growth coming off its highs has largely contributed to credit-deposit growth aligning

AI adoption in banking: India's opportunity to transform financial services

Banks with large asset sizes and those endowed with greater resources are more inclined to invest in innovation and modern technologies like AI

PNB Q2 FY25 results: Net profit increases 145% to Rs 4,303 crore

The bank's net interest income (NII) increased to Rs 10,517 crore in Q2 FY25 from Rs 9,923 crore in Q2 FY24, showing an improvement of 5.99 per cent on a year-on-year (Y-o-Y) basis

SBI Life least affected by new surrender norms: MD & CEO Amit Jhingran

Following the company's Q2 earnings, SBI Life Insurance managing director and chief executive officer (MD&CEO) Amit Jhingran spoke on the road ahead for the company

Tamilnad Mercantile Bank Q2 results: Net profit rises 11% to Rs 303 cr

Total income grew 15 per cent to Rs 1,565 crore during the quarter under review, from Rs 1,365 crore during the July to September period last financial year

Nabfid likely to raise nearly Rs 40,000 crore through bonds in H2FY25

The financial institution is also looking to raise funds from multilateral agencies and is preparing for ratings to facilitate international market fundraises