Banking Sector

Axis Bank raises $800 million through dual-tranche dollar bond sale

India's third-largest private-sector lender raised $500 million through perpetual AT1 notes and $300 million through five-year senior unsecured notes under its GMTN programme

'Indian financial firms to tap $1.5 billion overseas bonds this week'

India's top private lender, HDFC Bank, sold $750 million of five-year dollar bonds last week at a spread of about 90 basis points over US Treasuries

UCO Bank's Rajendra Kumar Saboo gets additional charge as MD & CEO

The bank's executive director will hold additional charge of managing director and chief executive officer until a regular appointment is made or further orders are issued

Banks' demand muted at RBI's VRR auction despite lower surplus liquidity

The demand from banks remained muted at the Reserve Bank of India's (RBI) three-day variable rate repo (VRR) auction held on Friday, indicating limited demand for short-term funds from banks. The central bank received bids worth Rs 16,750 crore from banks at the VRR auction against the notified amount of Rs 1 lakh crore. The RBI accepted the entire amount at the auction at a cut-off and weighted average rate of 5.26 per cent. Liquidity conditions in the banking system remained in surplus, though at a lower level. According to the latest data available with the RBI, systemic liquidity surplus stood at around Rs 19,163.11 crore as on June 18. The liquidity position improved marginally compared with the previous day but remained lower, reflecting tighter conditions in the banking system. The muted participation in the VRR auction indicates limited demand for short-term funds from banks despite the RBI providing liquidity support through variable rate repo operations. The VRR auctio

SBI board approves raising up to ₹60,000 crore via bonds in FY27

The country's largest lender plans to raise funds through long-term bonds, Basel III-compliant AT1 bonds and Tier 2 bonds during FY27

Canara Bank offers 6.5% on FCNR (B) deposits; BoB offers up to 7.4% on FDs

Canara Bank launches special FCNR(B) scheme for NRIs, while Bank of Baroda introduces a 555-day deposit product with higher rates for senior citizens

HDFC Bank prices $750 mn bond in largest lender offshore deal since 2023

The deal is the largest by an Indian lender since the State Bank of India's $750 million five-year bond sale in May 2023 and comes as SBI and Bank of Baroda line up similar overseas debt sales

Bangladesh central bank dissolves Islami Bank board, takes direct control

The action was taken in 'the interest of the bank, depositors, and the general public', the central bank said in a statement without providing specific reasons for the board's removal

RBI's swap facility for OFCB: Dollar route to cut banks' funding costs

The RBI's concessional swap facility for overseas foreign currency borrowings is expected to lower funding costs and help banks bridge the gap between credit and deposit growth

RBI imposes restrictions on Mogaveera Co-operative Bank for 6 months

The Reserve Bank has imposed several restrictions on Mogaveera Co-operative Bank, Mumbai, including capping withdrawals at Rs 1 lakh, amid its deteriorating financial position. The restrictions are effective from the closure of business hours on Friday for a period of six months and are subject to review, the Reserve Bank of India (RBI) said in a statement. The cooperative bank cannot grant or renew any loans and advances, make any investment, incur any liability, including borrowing of funds and acceptance of fresh deposits, the statement added. "Considering the bank's present liquidity position, the bank has been directed to permit withdrawal of a sum not exceeding Rs 1 lakh from savings bank or current accounts or any other account of a depositor ...," it added. RBI continuously engaged with the Board and senior management of the bank for improvement in its functioning, the central bank said. "However, lack of concrete efforts by the bank to address the supervisory concerns an

Bank credit growth at near two-year high of 17.65% in May 31 fortnight

Credit growth accelerated sharply in the fortnight ended May 31, while deposit mobilisation remained slower, widening the credit-deposit growth gap to 544 basis points

RBI asks banks to assess AI risk gaps, draw action plan by June-end

RBI has directed banks to assess cyber risks from advanced AI models such as Claude Mythos and submit mitigation plans by June-end

Bank of India sets Q2-end target for expected credit loss parallel run

Bank of India expects up to $1 billion in FCNR-B inflows under RBI's special window, while maintaining strong credit growth and preparing for ECL norms

RBI exempts FCNR(B), ECB swap positions from banks' NOP-INR limits

The move is expected to support recently announced measures to attract foreign capital, while easing regulatory constraints on banks participating in RBI swap facilities

Bandhan Bank opens 8 new branches across 4 states, expands network to 1,984

Bandhan Bank on Monday announced the opening of eight new branches across Karnataka, Uttar Pradesh, Delhi and Haryana, taking its nationwide branch network to 1,984. The bank said four of the new branches were opened in Karnataka, two in Delhi, and one each in Uttar Pradesh and Haryana, as part of its expansion strategy. The branches were inagurated in Mysuru, Bengaluru, Delhi, and Gurgaon. "As our network grows, we stay committed to sustainable expansion and delivering innovative, flexible banking solutions that meet evolving customer expectations," Bandhan Bank Executive Director and Chief Business Officer Rajinder Kumar Babbar said. With the latest expansion, Bandhan Bank's presence now spans 35 of the country's 36 states and union territories. The lender serves more than 3.2 crore customers through over 6,380 banking outlets across India, it said. Bandhan Bank said it had a deposit base of Rs 1.66 lakh crore and advances of Rs 1.54 lakh crore as of March 31.

DFS asks banks for details on ATM cash crunch as shortages raise alarms

The government has sought urgent feedback from banks on reported ATM cash replenishment issues amid concerns over cash availability and service disruptions

India's money-market turnover hits record as banks ramp up borrowing

Bank lending expanded at 16.2 per cent in the year through May 15, the fastest clip in two years, with credit demand exceeding deposit growth for the eighth straight month

Bank lending in India hits two-year high as firms favour loans over bonds

Credit growth expanded at 16.2 per cent in the year through May 15, the fastest clip since June 2024, according to the Reserve Bank of India data

Indian banks among Asia-Pacific's best-capitalised lenders: S&P data

For banks, a higher leverage ratio is generally a sign of stronger capitalisation, not higher risk

New bad loan provision measures will tell banks apart under ECL regime

RBI's ECL regime will shift the focus from recognising bad loans to predicting them, making risk management a key differentiator for banks