Page 59 - Banking Sector

Banks need to scale up investments in technology, says RBI's MK Jain

Financial institutions must build capacities in analytics and HR, says central bank deputy governor

Bank of Baroda hikes MCLR up to 30 basis effective December 12

The revised rates will be effective from December 12

Revised RBI guidelines on securitisation likely to impact short-term loans

But they are unlikely to disrupt the securitisation market as such loans constituted only 5% of the total securitisation volume in H1FY23

ICICI Bank raises Rs 5,000 cr via infrastructure bonds for funding projects

The base issue size for ICICI Bank's infra bonds was Rs 1,000 crore with green shoe option of Rs 4,000 crore

HDFC Bank files petition for NCLT approval to the proposed merger

The bank has already received the approval of the equity shareholders, which includes public shareholders, to the proposed merger scheme

RBI rate hike may halt rally in BFSI sector, pressure on bank NIMs seen

Broader markets, especially automobile stocks, may also react negatively going ahead

Banks should not ask for verification at branch level if e-KYC done: RBI

The Reserve Bank on Wednesday said banks should not ask for verifications/updates at the branch level in case a customer has done e-KYC or those who have completed the KYC (know-your-customer) process on C-KYC portal. Bank customers who've completed their KYC verifications online can do the annual updates as well as changes if any in their personal details online. A bank should not be demanding from a customer to walk into the branch for verification/updates. There is no such rule from the Reserve Bank on this, governor Shaktikanta Das told reporters on Wednesday. The governor also said, similarly for those customers who have uploaded their KYC details on the central-KYC (C-KYC) portal should not be asked for verification by any bank. In such case, the customer can just mail or message from the registered email ID or mobile to the bank to access the KYC details from the C-KYC portal. Blaming lack of awareness at the front-end of banks, deputy governor Rabi Sankar said the central ba

Strong interest: DIPAM receives as many as 167 queries about IDBI sale

9-10 serious bidders seek clarity on the expression of interest

Axis Bank likely to issue Rs 12,000 cr of tier-2 bonds amid credit growth

Banks have since November issued more tier-2 bonds than AT-1 bonds for the entire year

ICICI Bank, Axis Bank likely to raise Rs 5,000 cr each via bond sales

ICICI likely to issue long-term bonds, Axis mulls infra bond sale

Scam in cooperative bank: ED has attached assets worth Rs 30 crore

The Enforcement Directorate (ED) has attached assets worth Rs 30.70 crore of Bijoy A K, the commission agent of Karuvannur Service Co-operative Bank Ltd, under the Prevention of Money Laundering Act in fraud and cheating case. The ED said the attached assets include 20 immovable properties consisting of land and building in Kerala, two premium cars, Rs 3,40,000 and foreign currency totalling Rs 2,08,124. The sleuths attached bank balances also in Bijoy's 57 accounts worth Rs 35,86 990. The enforcement agency said he illegally sanctioned and disbursed loan to the tune of Rs 26.60 crore in cash without any collateral due to systematic conspiracy hatched and perpetuated by the secretary and committee members of the bank since 2010. "The ED initiated a money laundering investigation on the basis of the FIRs registered by the Kerala police under section 420 of the IPC. Kerala police (Crime Branch) has registered more than 16 FIRs in Thrissur District regarding fraud in Karuvannur Service

SBI personal banking loan book up Rs-5 trn mark, helped by digital push

Next Rs one trillion of non-home retail loans by Q3FY24

South Indian Bank's move on tier-2 bond won't disrupt sector: Fitch

Lender decision to not redeem the bonds does not indicate any weakness in capital position, says ratings agency

ICICI Bank adopting a 360-degree approach in corporate banking business

Analysts see risk of attrition due to the shift in culture its implementation

Canara Bank wins 'Banker's Bank of the Year Award 2022' for India

The winners are judged on their ability to deliver returns, strategy, innovation, technology and product & services in their respective geographies in the last 12 months

MFI recovery, credit cost moderation key triggers for Bandhan Bank

Stock has sharply underperformed peers and is available at reasonable levels

Interchange of Rs 17 at ATMs is not viable: Navroze Dastur of NCR Corp

In a Q&A, the country managing director of the world's largest ATM maker, says he sees a lot of banks come to firms such as his to run their ATM network for them in the future

HDFC Bank revises credit card rewards points programme for customers

The bank said for select products and vouchers, redemption of reward points will be capped at 70 per cent of the total value, but this is not applicable for Infina and Diners Black cards

RBI conditional approval to Carlyle, Advent's stake buy in YES Bank

The fund-raising would be conducted through a combination of $640 million (Rs 5,100 crore) in equity shares and $475 million (Rs 3,800 crore) through equity share warrants, YES Bank had said

Reserve Bank of India issues framework for Indian banks' foreign biz

The framework also specifies the applicability of these instructions to International Financial Services Centres in India, including Gujarat International Finance Tec-City