Page 8 - Banking Industry

UCB directors must probe management to boost governance: RBI's Swaminathan

RBI advises UCB directors to ask tough questions to senior management to ensure ethical, transparent, and prudent operations, aiming to prevent distress in the banks

Private sector bank chiefs take home hefty compensation cheques in FY25

Public sector banks' chiefs trail far behind, with the chairman of SBI, India's largest lender, earning a fraction of what private sector banks' chief executives make

Axis Bank net profit down 4% in Q1FY26 on rise in slippages, provisions

Axis Bank Q1FY26 net profit falls to Rs 5,806 crore as slippages surge and provisions rise; "technical impact" weighs on asset quality and return ratios

₹25K cr SBI QIP draws bids worth ₹1 trn; LIC, domestic MFs lead charge

LIC bids over Rs 5,000 crore in SBI's Rs 25,000 crore QIP, joined by major MFs and FPIs; fundraise to boost capital adequacy by 60 bps with 3.47% equity dilution

RBI monetary policy: August rate cut hopes get a fillip, says BS poll

Economists pencil in 25 bps reduction in the repo rate by December

Bank of Maharashtra Q1 profit up 23.2% at ₹1,593 cr on healthy NII growth

Bank of Maharashtra reports a 23.2% YoY increase in Q1 net profit to ₹1,593 crore, driven by 17.6% growth in NII and healthy advances. Asset quality improves, but provisions rise due to agri NPAs

Japan's SMFG considers making additional $1.1 bn investment in YES Bank

Earlier this year, SMFG acquired a 20 per cent stake in YES Bank for approximately $1.6 billion

Karnataka Bank appoints Raghavendra Bhat MD & CEO for three months

Bhat takes charge from 16 July following the resignations of Srikrishnan Sarma and Sekhar Rao, pending shareholder approval at the bank's upcoming annual general meeting

Citi's India head of commercial banking exits after 25 years with bank

Citi confirms the departure of Bhanu Vohra, its India head of commercial banking, after 25 years with the bank. The firm is set to announce a successor soon

We are catalysing retail green financing in the country: Rajashree Nambiar

The climate-financing gap over the next five years is about $40 billion, says Rajashree Nambiar, cofounder and chief executive officer of Ecofy

The curious case of demotion of executive director at a public-sector bank

If someone is deemed unfit for the ED post, can that person be considered fit to be a general manager?

Banks' loan offtake gains pace at end of first quarter, shows data

Bank credit growth slowed further to 9.5% YoY in the fortnight ending June 27, with deposits growing at 10.1%, outpacing credit growth, data showed.

Kotak Mahindra Bank shares rally on robust loan, deposit growth in Q1

In its quarterly business update, the bank reported 14 per cent year-on-year (YoY) and 4.2 per cent sequential growth in net advances to Rs 4.44 trillion in Q1FY26

Govt asks banks to close inactive accounts opened under PM Jan-Dhan Yojana

The concern arises from the increasing misuse of some Jan Dhan accounts by fraudsters as "mule accounts" to carry out cyber fraud

Central Bank partnership to boost bancassurance: FGILI MD & CEO Alok Rungta

Alok Rungta, managing director and chief executive officer, FGILI, talks about the impact of the bancassurance channel and the company's growth strategies

UCO Bank's total business jumps 13% to Rs 5.24 trillion in Q1FY26

UCO Bank on Thursday reported a 13.67 per cent year-on-year growth in its total business, which rose to Rs 5.24 lakh crore for the quarter ended June 30, 2025, compared to Rs 4.61 lakh crore in the corresponding quarter last year. According to provisional figures disclosed to bourses, total advances stood at Rs 2.25 lakh crore, registering a 16.58 per cent year-on-year increase, while total deposits rose 11.57 per cent to Rs 2.99 lakh crore during the same period. Domestic advances showed even stronger performance with a nearly 20 per cent year-on-year growth, reaching Rs 2 lakh crore in Q1FY26 from Rs 1.67 lakh crore a year ago. Domestic deposits also grew 9.80 per cent to Rs 2.80 lakh crore. On a sequential basis, total business increased 1.95 per cent from Rs 5.14 lakh crore in Q4FY25, while advances and deposits grew by 2.27 per cent and 1.70 per cent, respectively. The bank's domestic CASA ratio declined slightly to 36.90 per cent from 38.62 per cent in Q1FY25. The credit-depo

Indian Bank cuts lending rate for one year maturity by 5 bps to 9%

State-owned Indian Bank on Wednesday said it has reduced Marginal Cost of Funds Based Lending Rate (MCLR) for one year maturity by 5 basis points to 9 per cent. The new rate will be effective from July 3, Indian Bank said in a statement. The one-year MCLR is the benchmark against which most customer loans such as auto, personal and home loans are priced. Reinforcing its commitment to affordable credit, the bank has announced a reduction of 5 basis points in its one-year Marginal Cost of Funds Based Lending Rate (MCLR), bringing it down to 9 per cent, it said. This reduction will directly benefit borrowers with a lower interest rate on loans, it said. Besides, the Chennai-based bank has announced the complete waiver of minimum balance charges across all Savings Bank accounts, effective July 7, 2025. This move is aimed at fostering financial inclusion and making banking more accessible and affordable for all sections of society, it said. This decision is set to benefit a vast spec

Saraswat Bank approaches RBI to acquire New India Cooperative Bank

The RBI in February had prohibited New India, based in Mumbai, from issuing fresh loans and suspended deposit withdrawals for six months

MF funding to NBFCs hits record Rs 2.77 trillion in May 2025: CareEdge

Mutual fund exposure to NBFCs rose 32.5% YoY to record Rs 2.77 trillion in May 2025, driven by CPs and corporate debt, while bank credit to NBFCs fell 0.3%

Karnataka Bank's MD, ED resign; bank forms panel to find replacements

Following the departure of the MD&CEO and ED, the bank has formed a search committee to identify suitable candidates for both roles