Page 27 - Banking Sector

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

ICICI Bank Q3FY25 results: Net profit rises 15% to Rs 11,792 crore

ICICI Bank on Saturday reported 15 per cent rise in standalone net profit at Rs 11,792 crore for the third quarter ended December 2024. The second-largest private sector lender had earned a net profit of Rs 10,272 crore in the same quarter a year ago. Total income increased to Rs 48,368 crore from Rs 42,792 crore in the same period a year ago, ICICI Bank said in a regulatory filing. Interest income increased to Rs 41,300 crore during the quarter under review as compared to Rs 36,695 crore in the year-ago period. On the asset quality front, the bank's gross non-performing assets ratio improved to 1.96 per cent as against 2.3 per cent a year ago. Similarly, net NPAs, or bad loans, came down to 0.42 per cent from 0.44 per cent at the end of the third quarter last fiscal year. However, the overall provisions, excluding tax increased to Rs 1,227 crore during the quarter from Rs 1,049 crore a year ago. Provision coverage ratio on non-performing loans was 78.2 per cent as on December

Will amend law to help borrowers, control microfinance firms: Siddaramaiah

Karnataka Chief Minister Siddaramaiah on Saturday said the state government would amend the existing laws related to money lending business and introduce new legislation to protect the interest of the genuine borrowers. In the wake public outrage against the alleged harassment by micro-finance companies to recover money from borrowers, Siddaramaiah chaired an emergency meeting with his deputy D K Shivakumar, Revenue Minister Krishna Byre Gowda, Home Minister G Parameshwara, Law Minister H K Patil, senior government and top police officials. Representatives of the microfinance companies association, regional officers of the Reserve Bank of India and NABARD officials were also present. Later, briefing reporters, the CM said he took the opinion of the microfinance companies as well as the RBI officials. "After taking their view, we told them that we won't say not to give loan or do not recover money from borrowers but while recovering money you should not torture and harass people," .

Yes Bank Q3 profit surges nearly threefold to Rs 612 cr, NII grows 10%

Yes Bank on Saturday reported nearly threefold jump in net profit to Rs 612 crore for the third quarter ended December 2024 helped by a fall in provisions for bad loans. The private sector bank had earned a net profit of Rs 231 crore in the same quarter of previous financial year. Total income increased to Rs 9,341 crore during the third quarter of the ongoing fiscal from Rs 8,179 crore a year ago, Yes Bank said in a regulatory filing. Interest income increased to Rs 7,829 crore from Rs 6,984 crore. Net interest income grew 10 per cent to Rs 2,224 crore as against Rs 2,017 crore in the third quarter last fiscal year. Net Interest Margin (NIM) of the bank remained flat at 2.4 per cent. Operating profit rose to Rs 1,079 crore from Rs 864 crore. On the asset quality front, the bank's gross non-performing assets ratio improved to 1.6 per cent against 2 per cent a year ago. Similarly, net NPAs, or bad loans, came down to 0.5 per cent from 0.9 per cent at the end of the third quarter l

Banks must adapt to technology quickly, ensure resilience: DFS Secy

Financial Services Secretary M Nagaraju on Friday said banks must adopt rapid technological changes, modernise core systems, and prioritise compliance and risk measures to ensure resilience amid global challenges. In a virtual keynote address at the IBA's 20th Annual Banking Technology Conference, Expo & Citations - 2025 conference on Future Ready Banking for Viksit Bharat, he emphasised that technological advances like DPI and Unified Lending Interface are empowering financial inclusion. "Banks must adapt to rapid changes, modernise core systems, and prioritise compliance and risk measures to ensure resilience amid global challenges," he said. Scaling up globally competitive banks, closing credit gaps, and expanding insurance and pension coverage are critical to realising the vision of Viksit Bharat by 2047, he said. The financial services secretary also highlighted India's evolving financial landscape, driven by innovations like JAM, UPI, and ONDC. Emphasising AI/ML's role, he .

New norms likely to reduce Bank of Maharashtra's LCR by 5 basis point

The Reserve Bank of India (RBI) proposed revised LCR norms in late July 2023, suggesting that banks assign an additional 5 per cent run-off factor for retail deposits accessible through IMB

Banks must collaborate, not compete on technology front: RBI DG Rabi Sankar

He further stated that as technology, especially artificial intelligence (AI), rapidly advances, the banking sector must adapt

Budget 2025-26: Banks expect steps for deposit mobilisation, tax breaks

Tax incentives will help sector as loan growth slows down, say experts

HDFC Bank Q3 results: Profit rises 2% YoY to Rs 16,736 cr; shares up 1%

HDFC Bank Q3 results: On the bourses, HDFC Bank share price recovered sharply from the day's low after the announcement of Q3 results as the bottomline was better than Street estimates

Indian Banks' Association to choose New CEO, Atul Kumar Goel tops the race

To appoint new CEO, a three-member search committee was formed including CS Setty, chairman of State Bank of India (SBI); MV Rao, CEO of Central Bank of India; and N Kamakodi, CEO of City Union Bank

UCO Bank Q3 results: PAT rises 27% to Rs 639 cr, income at Rs 7,406 cr

State-owned UCO Bank on Tuesday reported a 27 per cent increase in net profit at Rs 639 crore for the third quarter ended December 2024. The Kolkata-based lender had logged a net profit of Rs 503 crore in the same quarter a year ago. Operating profit also rose to Rs 1,586 crore as against Rs 1,119 crore in the December 2023 quarter. Total income increased to Rs 7,406 crore from Rs 6,413 crore in the same period last year, UCO Bank said in a regulatory filing. Interest income also rose to Rs 6,220 crore over Rs 5,552 crore in the same quarter a year ago. Net Interest Income (NII) during the quarter rose by 20 per cent Rs 2,378 crore as against Rs 1,988 crore for the same period of the preceding year. On the asset quality front, the bank's gross Non-Performing Assets (NPAs) declined to 2.91 per cent of gross loans by the end of December 2024 from 3.85 per cent a year ago. Similarly, net NPAs or bad loans came down to 0.63 per cent as compared to 0.98 per cent in 2023. The capital

Bank stocks steer Nifty 50, Sensex to green territory, Kotak leads rally

The rupee, too, strengthened slightly, settling at 86.57 per dollar, compared with 86.61 on Friday

J&K Bank Q3FY25 Results: Net profit increases 26.2% to Rs 531 crore

Jammu & Kashmir Bank on Monday reported a 26.2 per cent rise in net profit to Rs 531 crore for the October-December quarter of FY2024-25 compared to Rs 421.08 crore in the year-ago period. A bank spokesman said that the financial institution is well on course to meet the annual profitability target. "The Bank's net profit for the first nine months of the current financial year has jumped 32.7 per cent YoY to Rs 1,497.92 crore compared to Rs 1,128.60 crore recorded for the same period last year, reflecting its sustained growth trajectory," he added. Speaking about the bank's focus going forward, MD & CEO Amitava Chatterjee said the objective remains to scale up the growth. "As we are in the final quarter of the current fiscal, our objective remains to scale up growth while delivering superior value to stakeholders through quality customer engagement and enhanced operational efficiency. "We plan to strengthen our focus on priority sector lending, particularly agriculture and ...

IDBI Bank Q3FY25 results: Net profit rises 31% to Rs 1,908 cr, NII up 23%

The net interest margin (NIM), a measure of banks' profitability, improved by 45 bps to 5.17 per cent during the quarter under review compared to 4.72 per cent in the same quarter last year

Central Bank of India Q3 results: Net profit jumps 33% to Rs 959 crore

State-owned Central Bank of India posted a 33 per cent increase in its profit at Rs 959 crore in the third quarter ended December 2024. The bank had earned a net profit of Rs 718 crore in the same quarter a year ago. Total income increased to Rs 9,739 crore during the quarter under review against Rs 9,139 crore in the same period last year, the Central Bank of India said in a regulatory filing. The interest income of the bank also rose to Rs 8,509 crore during the quarter compared to Rs 7,809 crore in the same period a year ago. Operating profit of the bank improved to Rs 1,963 crore as against Rs 1,931 crore in December 2023. On the asset quality side, the bank's gross Non-Performing Assets (NPAs) declined to 3.86 per cent of the total loans at the end of December 2024 from 4.50 per cent a year ago. Net NPAs or bad loans also came down to 0.59 per cent from 1.27 per cent at the end of the third quarter of the previous fiscal. Capital Adequacy Ratio of the bank rose to 16.43 per

Indian Overseas Bank share rallies 6% on robust Q3FY25 show; details here

The uptick in Indian Overseas Bank shares price came after the company posted a strong set of results in the December quarter of financial year 2025 (Q3FY25)