Page 21 - Banking Sector

Pradhan Mantri Mudra Yojana: Beyond the decadal journey to empower India

Most beneficiaries of PMMY are first-generation entrepreneurs with humble beginnings that have been able to break free from the financial constraints faced by them

TJSB Sahakari Bank plans to acquire two more UCBs and expand its business

Sharad Gangal, chairman, TJSB Sahakari Bank, told Business Standard that the bank will continue to look for inorganic growth opportunities

Deposit interest rate cuts likely to be moderate in current cycle

High CD ratio, LCR norms, and possible increase in deposit insurance to weigh on banks' decisions

Bank of India cuts home loan rates by 25 basis points, effective April 15

This move is aimed at making home ownership more accessible and affordable, in line with the bank's ongoing commitment to support customers in achieving their financial goals

Financials of urban co-operative banks' have been good: RBI Governor

Malhotra also said that at the system level, co-operative banks, NBFCs, and banks are all safe, secure, and robust

Bandhan Bank launches Elite Plus; Bank of Baroda unveils new term deposit

The savings account will allow customers to deposit unlimited cash each month, with free RTGS, NEFT, and IMPS transactions

Bank of Maharashtra clocks 18% loan growth in Q4, total biz hits Rs 5.5 trn

State-owned Bank of Maharashtra (BoM) on Tuesday said it has registered a credit growth of 17.84 per cent at Rs 2.40 lakh crore in January-March quarter. The outstanding credit was Rs 2.03 lakh crore at the end of March 31, 2024, BoM said in a regulatory filing. The Pune-headquartered lender reported a 13.45 per cent increase in total deposits to Rs 3.07 lakh crore in the reporting quarter as against Rs 2.70 lakh crore at the end of the fourth quarter of the previous financial year. As a result, total business (total credit and deposits) of the bank registered an increase of 15.3 per cent to Rs 5.47 lakh crore as against Rs 4.74 lakh crore at the end of March 2024. During the latest fourth quarter, it said, the Current Accounts and Savings Accounts (CASA) ratio improved to 53.29 per cent of the total deposits as against 52.73 per cent in the same period of the preceding financial year. The credit-deposit ratio increased to 78.14 per cent in the fourth quarter as against 75.22 per

Five-day banking week proposal unlikely to be implemented in FY26

The official further explained that such a change could negatively impact banking services, particularly on Saturdays, which remains a critical day for many customers to complete their banking txns

Govt announces 'One State, One RRB' implementation from May 1, 2025

The new structure is aimed at improving the efficiency of the RRBs and minimising competition among the public sector banks that sponsor them, as part of FinMin's "One State, One RRB" policy

Q4 result preview: Banks' net profit likely fell 4% on NIM pressure

Loan growth is expected to have further slowed down amid low demand in certain secured products, stress in the unsecured segment, and a high CD ratio across the system

Bank credit growth declines sharply to 11% in FY25, shows RBI data

Reserve Bank of India (RBI) data showed deposit growth moderated to 10.3 per cent in the fortnight ended March 21, 2025 (last fortnight of FY25), from 13.5 per cent in FY24

Union Bank of India to BoI: Large PSBs miss FY25 deposit growth targets

Credit grew faster than deposits

NaBFID to raise ₹8,000 cr via bonds, includes first 5-yr paper: Bankers

It also aims to raise at least ₹2,000 crore through 10-year papers, with a greenshoe option of ₹3,000 crore, the bankers added

Banks propose RBI switch to overnight liquidity management, new benchmark

The 14-day variable rate repo, or reverse repo, has been the RBI's main cash management tool since a change in 2020 that was intended to reduce lenders' reliance on the central bank

Poonam Gupta: Deputy RBI governor's focus could be liquidity conundrum

Her appointment comes less than a week before a meeting of the monetary policy committee

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