Page 31 - Banking Sector

Banks cautious on lending to stressed MSMEs due to NPA classification rules

Loans to the sector slows down after accelerating in FY21, FY22

Net credit card additions down to 2 mn due to seasonal, regulatory factors

Net credit card additions during the April-June quarter of FY25 is 48% lower against 3.9 mn in the December-March quarter of FY24

RBI revamps regulatory framework for domestic money transfer services

The changes in the current framework have been made based on recent review of various services for payments transfer

Federal Bank Q1 results: Profit rises 17% to Rs 1,027 cr on loan recoveries

South India-based Federal Bank on Wednesday reported a 16.74 per cent growth in consolidated net profit to Rs 1,027.51 crore for the June quarter, helped by higher recoveries from written-off accounts. The private sector lender's net profit grew to Rs 1,009.53 crore on a standalone basis, up from Rs 853.74 crore in the year-ago period. Its core net interest income moved up 19 per cent to Rs 2,292 crore during the reporting quarter on the back of a nearly 20 per cent growth in advances, while margin moderated to 3.16 per cent from 3.21 per cent in the preceding March quarter. Federal Bank Managing Director and Chief Executive Shyram Srinivasan, who will be demitting office in September after being at the helm for 15 years, told reporters that the bank is aiming to keep the net interest margin (NIM) between 3.15 and 3.25 per cent. The bank is aiming to keep all credit costs at 0.30-0.35 per cent, he said, adding that the bank is not focused on looking at the NIM number in isolation,

Budget 2024: Adequate capital buffers, credit-deposit ratio may weaken

PSBs to develop capabilities to assess MSMEs for credit, reducing external reliance

Sustaining good times: CEA Nageswaran for more gap between NPA cycles

Asset quality improved across all significant sub-sectors within the industrial sector, barring vehicles and transport equipment

Aim to reduce CD ratio as fast as possible: HDFC Bank MD & CEO Jagdishan

Bank to Prioritise Engagement and Service Over Interest Rates for Deposits

HDFC Bank Q1 result: Net profit up 35% at Rs 16,175 cr, NII at Rs 29,837 cr

HDFC Bank Q1 result: Sequentially, net profit of the lender is down 2%

Kotak Mahindra Bank Q1 results: Net profit up 79% at Rs 7,448 crore

Kotak Mahindra Bank Q1 results: The bank's deposits grew by 21 per cent Y-o-Y to Rs 4.35 trillion at the end of June 2024

HDFC Bank to grow advances slower than its deposits: CEO Jagdishan

Erstwhile housing finance major HDFC Ltd. merged into HDFC Bank on July 1, 2023, creating a financial behemoth

Revival in rural spending pushing demand conditions: RBI bulletin

India's natural rate of interest now at 1.4%-1.9%, says RBI bulletin

Buying a home? The best home loan rates offered by banks, finance firms

Interest rates depend on a customer's creditworthiness, loan amount, professional background and other factors

BOB hikes FD rates, introduces Monsoon Dhamaka with up to 7.90% interest

The BoB Monsoon Dhamaka Deposit Scheme can be opened online or through any of the bank's branches

State Bank of India launches spl scheme 'Amrit Vrishti' to garner deposits

SBI's Amrit Vrishti offers 7.25% on deposits for 444 days

Bank of Baroda, BoM launch deposit schemes to fund credit demand

SBI to follow suit with 444-day plan at 7.25%

Irdai may consider implementing risk-based supervision model: Keki Mistry

India's overall insurance penetration reduced to 4% in FY23 from 4.2% in FY22

Bank credit-deposit ratio: Work to restore normalcy in system continues

RBI wants banks to explain how they plan to bring it down but has set no specific target

Budget 2024: Govt may introduce amendments to push banking sector reforms

The government is likely to introduce amendments to Banking Regulation Act 1949 and other laws to push banking sector reforms during the upcoming Budget session. Apart from this, amendments in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 are needed for privatisation of public sector banks, sources said. These Acts led to the nationalisation of banks in two phases and provisions of these laws have to be changed for the privatisation of banks, they said. Amendments, if approved by Parliament, would help bring down government holding in state-owned banks below 51 per cent, improve bank governance and enhance investors' protection, sources said. Parliament session beginning on July 22 would witness the Budget presentation on July 23 and conclude with the passage of the Finance Bill on August 12. It is to be noted that the government had listed amendment to these laws to be tak

Indian banks eye record infra bond issue for second straight financial year

If successful, funds raised via these bonds in the first five months of the current fiscal year started in April will surpass the Rs 544 bn raised in FY 2023-24

Banks' deposit growth dips to 10.6%; credit growth at 13.9% as on June 28

Credit up by 13.9% Y-o-Y as on Jun 28