Page 19 - Banking Industry

Swiss govt's 'too big to fail' list could saddle UBS with rougher rules

At around $1.7 trillion, UBS's balance sheet is double the size of annual Swiss economic output, giving the bank an exceptional weight for a major economy

Recent volatility won't affect rupee's exchange rate, say bankers

To impact spot prices, the size of the option position being unwound has to be significant, a treasury official at a private sector bank said

Tier-1 capital raise by banks halves to Rs 17,516 crore in 2023-24

Healthy capital ratios, high interest rates, weak appetite lead to lower issuances

Banks, NBFCs must uphold standards with Fintechs: RBI Dy Governor D G Rao

This change could affect the degree of market concentration and competition, giving rise to new challenges

Indian bankers to get higher salary hikes than Singapore, Hong Kong

Salaries in India could rise by 10% in 2024, analyst Sarah Jane Mahmud wrote in a note Friday, citing survey data from consulting firm Aon

5 PSU banks to reduce govt shareholding to meet Sebi's MPS norms: DFS Secy

Five public sector lenders, including Bank of Maharashtra, IOB and UCO Bank are planning to reduce government stake to less than 75 per cent to comply with Sebi's minimum public shareholding (MPS) norms, Financial Services Secretary Vivek Joshi has said. Out of 12 public sector banks (PSBs), four were complying with MPS norms as on March 31, 2023. "As part of an ongoing effort, three more PSBs have complied with minimum 25 per cent public float during the current financial year. Remaining five PSBs have laid out action plans to meet MPS requirement," he told PTI in an interaction. Currently, government holding in Delhi-based Punjab & Sind Bank is 98.25 per cent. It is followed by Chennai-based Indian Overseas Bank at 96.38 per cent, UCO Bank 95.39 per cent, Central Bank of India 93.08 per cent, Bank of Maharashtra at 86.46 per cent. As per the Securities and Exchange Board of India (Sebi), all listed companies must maintain an MPS of 25 per cent. However, the regulator had given .

JPMorgan India's ECM head Abhinav to leave, Arvind Vashistha to replace

India has become one of the hottest markets for deals including initial public offerings in Asia Pacific as global investors seek to tap on the South Asian nation's growth potential

Government allows RBI to import gold without paying import levies

As of September 2023, the Reserve Bank of India held 800.79 metric tonnes of gold, including gold deposits of 39.89 tonnes

Sidbi plans to raise Rs 5,000 cr via rights issue next financial year

Small Industries Development Bank of India (SIDBI) on Tuesday said it plans to raise Rs 5,000 crore from rights issue next financial year to fund business growth. The refinancing entity for SME finance is witnessing a strong credit growth and to further grow the business, capital would be required, he said. The bank is looking to mobilise Rs 5,000 crore from rights issue in the next fiscal, SIDBI chairman and managing director S Ramann said on the sidelines of launch of a credit programme for Jan Aushadhi Kendras here. He said the government is the biggest shareholder and SIDBI has approached them requesting their participation in the rights issue, he said. Government of India holds a 20.85 per cent stake as of March 31, 2023. Besides this, State Bank of India owns 15.65 per cent, while the share of Life Insurance Corporation of India (LIC) stood at 13.33 per cent as of March 31, 2023. The rest is held by other Public Sector Banks (PSBs) and institutions. He said the loan book of

Year after Silicon Valley Bank crisis, a struggle over what needs to change

Regulators say they are now paying closer attention to midsize banks, recognizing that problems can quickly spread between banks with diverse geographic footprints and customer bases

DBS CEO Piyush Gupta's total pay declined 27% to $8.3 million in 2023

In 2022, Gupta received a salary of SGD 15.4 million

How RBI, industry put in checks place to slow down consumer credit growth

The latest TransUnion Cibil Credit Market Indicator (CMI) says that credit growth slowed across all consumption-led loan products; home-loan growth remained stagnant

450 mn Jan Dhan accounts have accumulated Rs 2.1 trillion: Anurag Thakur

Addressing an audience of the officials and employees of the bank, the Minister at the very outset, congratulated Federal Bank for an all-time high share price

Morgan Stanley planning to eliminate several hundred jobs in wealth unit

The bank's shares have been the worst-performing among its biggest US peers this year, down about 10%

Odisha govt to give interest-free loans to youth under 'Swayam' scheme

The scheme will be operational for two years and Rs 672 crore will be spent from the state's coffers

Japan's Mizuho Bank acquires 15% in Credit Saison India for Rs 1,200 cr

Digital non-banking finance company Credit Saison (CS) India on Tuesday said Japan's Mizuho Bank has acquired 15 per cent stake in it for Rs 1,200 crore. This is Credit Saison's first investment from an external investor, a statement from CS India said. This strategic investment will enable CS India to continue its journey towards becoming a well-diversified, resilient lending franchise with a focus on growth and profitability, the statement added. CS India received its (Non-banking Finance Company) NBFC licence in September 2019 from the RBI and focussed initial operations in wholesale lending and tech-integrated partnerships with other NBFCs and fintechs. Later, it expanded into retail lending through partnerships. Currently, it has 1.2 million active loans worth over Rs 10,000 crore, Presha Paragash, chief executive of CS India said. Mizuho Bank is the retail and corporate banking unit of Mizuho Financial Group while CS India is the domestic arm of Saison International, one of

Banks pitch risky hedges to Indian firms yearning for higher forex returns

A few foreign banks have been actively pitching TARFs and increasingly more so recently, he said

Iran evaded sanctions, moved money using Santander, Lloyd accounts: Report

The banks provided accounts to front companies secretly owned by a sanctioned Iranian petrochemicals company

Govt to complete IDBI Bank strategic sale in FY25: Dipam Secy Pandey

The government expects to complete the strategic sale of IDBI Bank in the next financial year, a senior official said. In an interview to PTI TV, the Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said the process of privatisation of IDBI Bank is on and once the regulator clearance is obtained, financial bids will be invited. Asked if the strategic sale would be completed in the next fiscal, Pandey said "Yes, of course". The government along with LIC is selling nearly 61 per cent stake in IDBI Bank and had in October 2022, invited bids from buyers. In January 2023, DIPAM said it had received multiple Expressions of Interest (EoI) for buying a stake in IDBI Bank. The bidders who have shown interest through EoI have to get two sets of clearances -- one from the home ministry for security clearance and the other from the Reserve Bank of India (RBI) for meeting the 'fit and proper' criteria.

China merges hundreds of rural banks amid looming financial crisis

After engineering mergers of rural cooperatives and rural commercial banks in at least seven provinces since 2022