Page 57 - Banking Sector

Ajay Kumar Srivastava becomes new MD and CEO of Indian Overseas Bank

After successful completion of about 27 years in Allahabad Bank he was elevated as Executive Director of IOB in October 2017

Plan to open more branches across country, says TMB CEO S Krishnan

Private sector Tamilnad Mercantile Bank Ltd (TMB) has drawn up plans to strengthen itself by opening up additional branches across the country in the near future, said a top official of the bank on Friday. The over-a-century old bank recently inaugurated its 510 and 511th branches here and in Salem respectively. "Upon being listed on the stock exchanges, Tamilnad Mercantile Bank Ltd is back to enrich our vision in expanding the network pan-India. The bank has opened its 510th and 511th new branches in Tamil Nadu. We have plans to also open many more in the near future...," said managing director and CEO of the bank S Krishnan in a statement. The Tamil Nadu-based bank currently has presence across 16 States and four Union Territories and serves over 5 million customers.

Banks using quality liquid assets to fund loan growth: RBI report

Credit growth in the system has touched a decade high, a level seen last in 2011

Banks' net NPA ratio at 10-yr low, GNPAs continue downward journey: RBI

Stress test show banks capable of absorbing shocks without capital infusion

Brokerages pick banks, infra and telecom for 2023 play; IT, metals may drag

The banking sector was a standout performer in 2022 with the Nifty PSU Bank rallying almost 70 per cent

Prospects remain healthy for NBFCs, bank credit shows a strong trend

Topline growth should outweigh any pressure on margins

Post-LVB integration, DBS aiming to treble growth in 5 years: MD & CEO

Surojit Shome, MD and CEO of DBS Bank India, said having crossed the Rs one trillion business (deposit and loans) mark in September, the bank is looking to grow 3x in five years

Urban Co-op Bank profiles improve on bad loan dip, better profitability

However, growth in deposits and advances took a knock as liabilities shrank on the back of high base in 2020-21, shows RBI Report on Trend and Progress of Banking in India

NBFCs need to be mindful of rising borrowing costs, says RBI report

'NBFCs need to be wary of rising borrowing costs as financial conditions tighten'

Banks' balance sheet grows in double digits after 7 years: RBI report

Gross NPA slips to 5%; regulator flags slippages from recast accounts

Six big banks of Wall Street score $1 trillion of profit in a decade

While much of the world's attention was focused on the riches minted by Silicon Valley, banks were gaining momentum

Credit card spends drop sequentially as festive season draws to close

Monthly spending is more than Rs 1 trn again, led by the rising share of e-commerce transactions

SBI, Axis, ICICI Bank to go live on 'Rupay Credit card on UPI' by March

Move likely to cause a spike in daily transaction values on this feature, see many UPI users absorbed into credit card ecosystem

P N Vasudevan to continue as Equitas Small Finance Bank MD, CEO

In May, Vasudevan had said that he wished to move on from the bank in order to work for his trust

How to lock smartly into bank FDs as rates peak over next 2-3 quarters

Consider laddering to ensure liquidity and to avoid reinvestment risk

Liability management now top priority for lenders: Private bank CEOs

Private bankers said there were signs that the credit demand was durable and as such the landscape for banks' management of assets and liabilities would remain challenging for quite some time

All entities providing banking service subject to same rules: RBI Dy Guv

Non-bank entities cannot be allowed to undermine the banking system, he says at Business Standard BFSI Insight Summit

We want to address concentration risk in our home ground: J&K Bank chief

In a Q&A, Baldev Prakash dwells on the lender's plan to bring down NPAs and raise Rs 500 cr in equity by the end of FY23

RBI sold $922 million in foreign exchange market in October: Bulletin

Forward purchase book shrinks $10 bln as RBI spreads out interventions

Banks have written off loans worth Rs 11.17 trillion in last 6 years: Govt

Banks have written off Rs 11.17 lakh crore bad loans from their books in the last six years till financial year 2021-22, Parliament was informed on Tuesday. The non-performing assets (NPAs), including those in respect of which full provisioning has been made on completion of four years, are removed from the balance sheet of the bank concerned by way of write-off, Minister of State for Finance Bhagwat Karad said in a written reply. Banks write off NPAs as part of their regular exercise to clean up their balance sheet, avail tax benefit and optimise capital, he said, adding, the write-off is carried out by the banks in accordance with RBI guidelines and policy approved by their boards. "As per RBI data, public sector banks (PSBs) and scheduled commercial banks (SCBs) wrote off an aggregate amount of Rs 8,16,421 crore and Rs 11,17,883 crore respectively during the last six financial years," he said. With regard to the list, including names of write-offs/defaulters who have defaulted m