Page 14 - Banking Sector

April 2025 Calendar: Check full list of national days, events and holidays

April 2025 comes with national and regional bank holidays across India. From festive celebrations to scheduled closures, check the complete list of holidays to avoid last-minute banking inconveniences

Banks, financial institutions raise Rs 1.17 trillion via CDs in two weeks

This period saw IndusInd Bank aggressively tapping the CD market with its liquidity coverage ratio declining after its disclosure of discrepancies in its derivatives portfolio

FY26 likely to bring slight recovery in banks' earnings growth momentum

FY26 may see a modest recovery in earnings growth after a period of bottoming out

BankTech investment projected to hit $1 bn by 2027 end: Cedar-IBSi Capital

Venture capital fund Cedar-IBSi Capital on Sunday said investment in the country's BankTech sector is projected to reach USD 1 billion by the end of 2027. It said as the country is progressing towards achieving its gross domestic product target of USD 7 trillion by 2030, the banking sector will be a key driver for pushing the economic growth. "Investment in India's BankTech sector is projected to reach USD 1 billion by the end of 2027," the company said. Cedar-IBSi Capital Founder and Managing Partner Sahil Anand said technological revolution has been transforming banking services in India, bringing down its core functions towards digitisation. Research indicates that about 80 per cent of the traditional banking services can now be performed digitally, he said, adding that technology is playing a crucial role in driving financial inclusion, extending banking services toconsumers in underserved regions. Cloud computing has emerged as a transformative force in the banking sector, ..

Govt turning banks into 'collection agents of loot': Kharge on ATM fee hike

The Congress on Saturday hit out at the Modi government after the RBI's decision to allow banks to increase charges on ATM cash withdrawals, and said banks have been reduced to "collection agents" to "loot" citizens. Giving a list of charges levied by banks, Congress president Mallikarjun Kharge said a "painful" price rise and "unbridled loot" was the BJP's mantra. "Our banks have been unfortunately made 'collection agents' by the Modi government! ATM withdrawal charges to be costlier," Kharge said in a post on X. "The Modi government has extracted at least Rs 43,500 crore due to non-maintenance of minimum balance from savings accounts and Jan Dhan accounts combined, between 2018 and 2024," he said. "Other bank charges to LOOT citizens - an inactivity fee, which is Rs 100-200 every year. Bank statement issuance fee is Rs 50-100. Rs 20-25 per quarter is charged for SMS alerts. Banks charge 1-3 per cent as loan processing fees," he added. The Congress chief also claimed that if a lo

BJP's loan write-offs hurting banking sector, economy, claims Rahul Gandhi

Leader of Opposition Rahul Gandhi highlighted the impact on junior banking employees, stating that they bear the consequences through workplace stress and toxic conditions

AU Small Finance Bank raises Rs 770 crore via Tier-II bond issuance

With this fund raise, AU SFB has achieved one of the largest bond issuances by any small finance bank, with the deal closing on the last working day of the financial year FY25

UBS gets regulatory approval to fully own China securities joint venture

The approval wraps up a series of complicated transactions following UBS's merger with Credit Suisse, including the former's sale of a 36.01% stake in Credit Suisse Securities in China to BSAM

Banking system net liquidity improves on back of RBI's swap auction

The net liquidity in the banking system was in a deficit of Rs 1.57 trillion on Tuesday, Reserve Bank of India (RBI) data showed

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

Parl approves Banking Laws (Amendment) Bill; Oppn says it lacks safeguards

PP Suneer (CPI) alleged that Indian banking system has been mismanaged to favour large corproate interest

RRBs earned record profit of Rs 7,571 cr in FY24: Govt tells Rajya Sabha

Regional Rural Banks (RRBs) have earned a record profit of Rs 7,571 crore during 2023-24, Parliament was informed on Tuesday. "Financial health of RRBs has improved in the recent years as they have posted highest ever consolidated net profit of Rs 7,571 crore during 2023-24. Also, the RRBs have shown consistent improvement in key financial parameters like CRAR, deposits, advances, NPA, CD ratio etc," Minister of State for Finance Pankaj Chaudhary said in a written reply in the Rajya Sabha. The key financial parameters of RRBs have improved consistently in past years, he said, adding that the total balance sheet size of RRBs have increased from Rs 7,04,556 crore in 2021-22 to Rs 8,40,080 crore in 2023-24. Further, the net NPA has declined from 4.7 per cent in 2021-22 to 2.4 per cent in 2023-24, he said. Also, the credit-to-deposit ratio has increased from 64.5 per cent in 2021-22 to 71.4 per cent in 2023-24, he added. "The government has also reviewed the progress made by RRBs in .

Govt discontinues gold monetisation scheme; banks may continue: FinMin

The government has decided to discontinue the Gold Monetisation Scheme (GMS) starting from Wednesday in view of the evolving market conditions, the finance ministry said. However, the banks may continue their short term gold deposit schemes (1-3 years), the ministry said in the statement on Tuesday. Till November 2024, approximately 31,164 kilograms of gold have been mobilised under GMS. The Gold Monetisation Scheme was announced on September 15, 2015, with the objective to reduce country's reliance on the import of gold in the long run and mobilise gold held by households and institutions in the country to facilitate its use for productive purposes. The GMS is comprised of 3 components -- Short Term Bank Deposit (1-3 years); Medium Term Government Deposit (5-7 years), and Long-Term Government Deposit (12-15 years). "Based on the examination of the performance of the Gold Monetisation Scheme (GMS) and evolving market conditions, it has been decided to discontinue the Medium Term a

RBI hikes ATM withdrawal fees; higher charges from May 1 - check details

The revision in fees follows requests from white-label ATM operators, who sought higher withdrawal charges due to increasing operational costs affecting their business

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

Credit-deposit growth gap widens amid tight liquidity, shows RBI data

While credit expanded by Rs 1.38 trillion in the March 7 fortnight over the previous fortnight, deposits expanded by Rs 2.25 trillion

IndusInd Bank to hire independent firm to probe derivatives discrepancies

The firm will assess the correctness and impact of accounting treatment of derivative contracts in accordance with prevailing accounting standards, identify any lapses, and establish accountability

IBPS SO Mains scorecard 2025 released today at ibps.in, check scores here

The Institute of Banking & Personnel Selection (IBPS) announced the IBPS SO Mains Score Card 2025 on its official website, ibps.in on March 20, 2025.

IndusInd Bank appoints independent firm to probe accounting discrepancies

The independent firm, which the bank did not name, will identify the root cause of the discrepancies, assess the correctness of the accounting treatment of the derivative contracts

Sitharaman, Citi CEO discuss bank's staff growth in India, digitalisation

During their discussion, Jane Fraser highlighted Citi's expansion in India and expressed interest in strengthening the company's presence in the country