Page 30 - Banking Sector

Root of C-D mismatch: Major banks aren't competing for savings deposits

The savings bank deposit interest rate was the last one to be deregulated by the RBI after all other interest rates were deregulated

State-owned Canara Bank mobilises $300 mn through IFSC banking unit

State-owned Canara Bank on Wednesday said it has mobilised USD 300 million via the IFSC Banking Unit. The net proceeds from the issue of the notes will be applied by the Issuer's IFSC Banking Unit at Gandhinagar towards the general corporate purposes, Canara Bank said in a regulatory filing. The bonds with maturity of 5 years carry a coupon rate of 4.896 to be paid semi annually, it said. Commenting on the occasion, Canara Bank MD and CEO K Satyanarayana Raju said, "We are delighted on the successful launch and pricing of this transaction, which enabled us to achieve a 30-bps tightening from the initial price guidance to final price guidance." The issuance was widely subscribed by investors across Asia, Middle East and Europe demonstrating the strong confidence in the Canara Bank's credit, he said.

Credit-deposit ratios of banks spark debate: Is there a cause for worry?

Though increased lending generally leads to more deposits through the credit multiplier effect, reduced liquidity has led to shrinking deposit pools

Bank holidays in September 2024: Check the full list before making a visit

Essential financial services will be functional through digital channels such as online platforms, ATMs, mobile banking apps, and bank websites

New MSME credit assessment model for PSBs may see March 2025 launch

Credit model goes beyond credit scores, evaluates supply chains, digital footprints

Stable currency fosters internationalisation, says Zarin Daruwala

The rupee was the third most stable Asian currency against the US dollar in the financial year 2023-2024 after the Hong Kong dollar and Singapore dollar, primarily due to timely intervention by RBI

Competition for deposits but no rate war, says SBI chief C S Setty

SBI is aiming to get 90 per cent of its retail unsecured loans from the digital channels, going forward, Setty said

Banks will lose out if they don't partner fintechs: Axis Bank CEO

He highlighted that as customers transact more digitally, the banks' operating costs will come down

Bank-fintech tie up will boost innovation, risk management: RBL CEO

The experience of banks and non-banking financial companies (NBFCs) in risk underwriting and risk assessment will help in improving customer experience

SBI to focus on neglected, small-ticket deposits to boost liquidity: MD

The lender will focus on accounts under a government scheme called 'Jan Dhan', or people's wealth, that provides access to various financial services to low income groups, Tewari said

National Bank of Canada's profit rises on wealth management, strong markets

National Bank of Canada's upbeat results come in contrast to rival Bank of Montreal, which reported a drop in quarterly adjusted profit on higher loan loss provisions

Challa Sreenivasulu Setty takes over as SBI Chairman, succeeds Dinesh Khara

Challa Sreenivasulu Setty on Wednesday assumed charge as Chairman of the country's largest lender State Bank of India (SBI). He succeeds Dinesh Khara, who superannuated from services of the bank at the closing of business hours on Tuesday, SBI said in a regulatory filing. Prior to becoming chairman, Setty was the senior-most managing director of the bank. As per the convention, the chairman is appointed from a pool of serving managing directors of SBI. Usually, the senior-most managing director becomes chairman of the bank. Setty, who also headed various task forces/committees formed by the Government of India, had earlier looked after the bank's retail and digital banking portfolio. A Bachelor of Science in Agriculture and a Certified Associate of the Indian Institute of Bankers, Setty began his career with SBI in 1988 as a Probationary Officer. Across a career spanning over three decades, he has rich experience in corporate credit, retail, digital and international banking and

Current account deposits, retail asset quality challenges for new SBI chair

Maintaining loan growth momentum, protecting margins may not be easy as interest rate cycle changes

Microloan asset quality faces strain as heatwaves, loan waiver rumours bite

Asset portfolio shrinks sequentially; growth seen moderating by 2-3 percentage points in FY25

Will open 30 million Jan-Dhan accounts this FY, says FM Sitharaman

The average balance per account has increased from Rs 1,065 in March 2015 to Rs 4,352 as of August 16, 2024. Roughly 80 per cent of these accounts are currently active

Jio Financial ups stake in Jio Payments Bank to 82.17% for Rs 68 cr

The company subscribed to 6.8 crore equity shares of Jio Payments Bank for its business purposes

ICICI Bank invites bids to sell $28 million exposure in John Energy

John Energy is currently facing various litigations initiated by ICICI Bank and other lenders before NCLAT

SBI's Dinesh Khara era ends, his successor CS Setty has new challenges

With Dinesh Khara's legacy of stock market's love for State Bank of India, his successor CS Setty faces the task of sustaining this momentum while war for deposits continues on the banking turf

MSME cash flows can be erratic; lenders must know: Flexiloans.com's Jain

We don't set up physical branches, and this allows us to reach more locations compared to the larger banks and NBFCs, he says

Shaping a better tomorrow: Loan distribution set for major overhaul

The Financial Stability Report of June 2024 has it that delinquency levels among borrowers with personal loans below Rs 50,000 remain high