Page 27 - Banking Sector

Why RBI has asked banks to change their internet domain name to 'bank.in'?

The Reserve Bank of India (RBI) announced the launch of two domains: '.bank.in' for all Indian banks and 'fin.in' for NBFCs

Bank employees to go on strike March 24 and 25; start protests today

Demands include fresh recruitment at all levels and a five-day work week, says umbrella group of unions

K Balasubramanian to succeed Ashu Khullar as India head for Citibank

Balasubramanian, a seasoned banker, has worked in multiple markets, covering clients across major industries and geographies in India

SBI looks to raise around Rs 5K crore via perpetual bonds before end of Feb

The country's largest lender could have a call option at the end of either five years or 10 years on the issue

Punjab National Bank eyes $1.96 billion bad loan recovery in FY25, says CEO

PNB's asset quality has improved over the last two years, after a debilitating corporate bad loan cycle between 2011 and 2019

Banks loan growth drops for 6th month in Dec as tighter lending curbs weigh

The data showed that banks' credit increased by 12.4 per cent year-on-year last month, slower than the 15.6 per cent rise in December 2023

Union Budget FY26: Key banking amendments in the spotlight, yet again

Among the most-watched moves pertaining to the banking sector will be possible changes to the RBI Act, the Banking Regulation Act and the Banking Companies Act

SFBs ready with systems, governance to become universal banks: MDs & CEOs

One major benefit of becoming a universal bank is that public perception will change

Banks to continue good run with caution and innovation, say PSB CEOs

The economy is very strong and on sound footing and we, as banks, typically mirror the economy

Lenders get to work as India aims to become a $5 trillion economy

How lenders are balancing growth and governance to empower ambitions of 'Viksit Bharat'

Economy well-placed to deal with any spillover from external world: Das

"There are significant upside risks to inflation from geopolitical conflicts, geoeconomic fragmentation, climate-related concerns, and commodity prices going up"

Fear mainly results in cyber frauds: State Bank of India's Nitin Chugh

Small-value frauds are the traditional phishing-based scams where people willingly give away their credentials or an account takeover

RBI action on unsecured lending warranted: Jio Financial chairman Kamath

"I think there is some sort of abuse of technology that is happening (by loan apps) and as a result, there is laxity in the whole process of lending"

Customer protection, value-added services to drive biz growth: C S Setty

"Annually, 12 million people prefer opening their savings accounts with us. That is not possible if your customer service is poor"

Customer centricity will be our focus area: Indian Bank MD Binod Kumar

My expectation is there will be some moderation in credit growth while deposit growth may improve, said Indian Bank MD Binod Kumar

RBI tightens norms for imposing penalty under payment systems law

The Reserve Bank on Thursday tightened norms for imposing monetary penalties and compounding offences under the Payment and Settlement Systems Act (PSS Act) to rationalise and consolidate enforcement action by the central bank. As per the revised framework for payment system operators and Banks, operation of a payment system without authorisation, disclosure of information, which is prohibited, and failure to pay the penalty imposed by the Reserve Bank within the stipulated period are among the contraventions under the PSS Act. "(The) Reserve Bank is empowered to impose a penalty not exceeding Rs 10 lakh or twice the amount involved in such contravention or default where such amount is quantifiable, whichever is more, in case of contraventions/defaults...," said the 'Framework for imposing monetary penalty and compounding of offences under the Payment and Settlement Systems Act, 2007'. Earlier, the RBI was empowered to impose a penalty not exceeding Rs 5 lakh. The amount was raised

Tamilnad Mercantile Bank draws up road map for biz, tech transformation

Bank takes on board McKinsey, Deloitte and Oracle to realise goal

Bank unions' Budget wishlist: Scrap tax on profits of cooperative banks

Asks for refinancing Rs 2 trn for non-recovery of farm loans

Banking sector funds: Invest now to capitalise on credit growth pickup

The ideal time to invest in sector funds is during a downturn so that investors can capitalise on a turnaround in 1.5-2 years

Canara Bank Q3 results: Net profit up 12.25% on non-interest income boost

The non-interest income, covering fees, commissions, treasury revenues, and recoveries, rose by 35.1 per cent Y-o-Y to Rs 5,802 crore