Page 45 - Banking Sector

Comply with higher UPI transfer limit by Jan 10, NPCI directs members

To ensure compliance with the enhancement, NPCI has asked banks, payment service providers, and UPI applications to ensure transaction limits are raised for the aforementioned merchant categories

Q3 FY24 report card: Bank CASA continues to remain under pressure

According to provisional data, the CASA ratio of South Indian Bank dropped to 31.79 per cent from 33.83 per cent in the same quarter of the financial year 2022-23

Ashok Vaswani takes charge as Kotak Mahindra Bank MD & CEO from January 1

Furthermore, C S Rajan, independent director, has assumed the office as the part-time chairman of the bank, with effect from January 1, 2024

HDFC Bank goes live with NPCI-developed UPI in secondary market platform

HDFC Bank has executed transactions via the NPCI's UPI payments app as part of the 'UPI for secondary market' facility, which which went live on Monday, the lender said in a statement. The move follows markets regulator Sebi allowing the facility through the UPI app developed by the National Payment Corporation of India (NCPI). Effective January 1, Sebi and the stock exchanges permitted trading in the cash segment through block mechanism, on an optional basis, for the secondary market on the lines of Application Supported by Blocked Amount (ASBA) for primary markets where investors' funds will continue to remain in their savings account with the required funds being blocked instead of the investor having to upfront transfer the amount to the broker's account for placing trades. On December 29, the NPCI had said the 'UPI for secondary market' facility will go live from January 1 in the Beta phase for the equity cash segment, with support from clearing corporations, stock exchanges, .

RBI Deputy Guv Rao flags risks of AI deployment in financial institutions

He categorized these risks into three broad sets-data bias and robustness, governance, and transparency

Veteran banker Vaswani takes charge as Kotak Mahindra Bank's MD, CEO

He replaced Dipak Gupta, who was the interim MD and CEO, following founder director Uday Kotak stepping down as the head of the bank, effective September 1, 2023

Lending rates decline in Nov while deposit rates harden: RBI data

The WALR on outstanding rupee loans of SCBs was at 9.80 per cent in November 2023 as against 9.84 per cent in October 2023 and 9.83 per cent in September

Best of BS Opinion: Banking for growth, Indian economy's resilience & more

Here is the best of Business Standard's opinion pieces for today

Banking for growth

Financing of NBFCs must be monitored

SBI, HDFC Bank will need to maintain higher capital from FY25, says RBI

The additional Common Equity Tier 1 (CET1) requirement will be in addition to the capital conservation buffer

Total amount of frauds reported by banks declines to six-year low: RBI

However, the number of frauds that were reported by banks have gone up from 7,263 frauds in 2020-21 to 13,576 in 2022-23

Banks bid 3.2 times against notified amount of Rs 50,000 cr at VRR auction

Market participants speculate that this might be the last VRR auction conducted by the central bank as the liquidity condition is expected to improve in a few days due to government spending

RBI warns banks, NBFCs against reliance on model-based lending practices

The regulator said inherent biases and lack of transparency with AI/ML outcomes carry risks

NBFC loan sanctions shrink by 5% to Rs 2.09 trn in urban area: FIDC

Growth in Semi-urban, rural areas holds up

NaBFID MD bats for re-introduction of S4A-like debt recast scheme

National Bank for Financing Infrastructure and Development's (NaBFID) managing director Rajkiran Rai G has said there is a need to re-introduce the Scheme for Sustainable Structuring of Stressed Assets (S4A) scheme to help infrastructure finance in the future. Rai said at present, there is not a single asset calling out for such help but it is essential to get a facility which will enable "rightsizing of debt" and make it more sustainable. He also said that given the present system, no entity can exploit the S4A scheme by indulging in things like the evergreening of loans. The RBI had introduced the S4A scheme in 2016 and ended in February 2018. Debt was split into sustainable and unsustainable based on cash flows under the scheme, which was focused on corporate loans and also had a threshold above which an account could qualify. "We need to see the context in which it was brought and how it was used. And now, we are talking in a totally different context," Rai told PTI, pushing for

Bank of Baroda raises Rs 2,500 crore through basel-III tier-II bonds

The bank received a total of 88 bids amounting to Rs 6,803 crore, according to a note by the bank

Bandhan Bank receives Rs 280 crore bid for Rs 776 crore home loan NPAs

Bandhan decided to sell housing loan NPAs, where repayment was due for over 180 days, worth Rs 776.62 crore as on September 30.

RBI imposed monetary penalties worth Rs 40 crore on 211 entities in 2022-23

Out of 211, 176 penalties worth Rs 14.04 crore were alone imposed on cooperative banks, Bhagwat Karad told Lok Sabha on Monday

Rising cost of funds may squeeze bank NIMs by 30 bps more: CARE Ratings

Banks are still grappling with policy rate hikes on deposits, along with regulatory actions on unsecured lending

RBI receives bids 2.7 times against notified amount at 7-day VRR auction

The central bank conducted a VRR auction after six months