Page 73 - Banking Sector

Share of Casa in total bank deposits rose to 44.8% in March 2022: RBI data

Seven states accounted for 63.3% of overall deposits; share of female holdings in incremental deposits more than doubled

Govt looking for complete exit with the help of PSB Privatisation Bill

The government is mulling an amendment that will allow the Centre a total exit from banks, fully privatising PSBs, a report said

Axis Bank reappoints Rajiv Anand as Dy Managing Director for three years

Anand joined Axis AMC in 2009 and was its founding MD and CEO. He subsequently went on to become the President (Retail Banking) of Axis Bank in 2013 and then joined the bank's board in 2016

Former SBI official appointed member of advisory committee of SIFL & SEFL

The RBI Venkat Nageswar Chalasani, former Deputy Managing Director of SBI, as a member of the Advisory Committee of SIFL and SEFL on Thursday

RBI warns of risks from cross-border outsourcing of IT services

The RBI's observations come at a time when it is considering a mandate for domestic processing of payment transactions in order to ring-fence India's local payment systems.

Private banks are better money managers, state-owned lenders grow faster

They witnessed higher gains from parking funds with RBI and income from investments; as rates rise, space for both would shrink

RBI proposes norms for outsourcing of IT services by banks, NBFCs

Regulated entities (REs) will not require prior approval from the central bank for the outsourcing of IT and IT-enabled services

HDFC Bank to shift payments from core banking, ensure minimal downtime

This would pave way for minimal payments downtime

DBS Bank India acquires 9.9% in NBFC Svakarma Finance for undisclosed sum

DBS Bank India said the stake buy in Svakarma will help in delivering relevant financial solutions to the micro-enterprises through a combination of direct lending and co-lending

Moody's upgrades ICICI Bank, Axis Bank's baseline credit assessments

Affirms Baa3 deposit ratings of both Indian private sector lenders; outlook on ratings for both banks, where applicable, remains stable

FM Nirmala Sitharaman set to review govt banks' financials on Monday

Loan recovery, bad loans over Rs 100 crore to be reviewed

Banks' gross NPA drop below 6% in March 2022, lowest in six years

Health of the sector is encouraging: Deputy guv

TCS, HDFC Bank, Infy and LIC among Kantar's global 100 most valuable firms

Infosys made its debut to the list at 64th position at a brand value of $33,551 billion, up 33 per cent

Early assessment of banking sector health encouraging: RBI deputy guv

"The asset quality of banks has improved and the gross NPAs and net NPAs of the banks have improved from the pre-pandemic levels," Rao said

SBI and subsidiaries reshuffle top management to improve efficiency

SBI has promoted market-recruited executives who have been associated with the bank's subsidiaries for some time

SBI raises lending rates, HDFC Bank and BoB increase deposit rates

Moves follow RBI's 90-bp repo rate increase in a little over a month

Equitas Small Finance Bank gets RBI nod to reappoint Vasudevan as MD & CEO

Equitas Small Finance Bank (ESFB) on Wednesday said that the Reserve Bank of India has okayed its proposal to reappoint MD and CEO Vasudevan P N for one year. "We wish to inform that pursuant to the bank's application vide its letter dated May 23, 2022, RBI vide its letter dated June 15, 2022 has approved the proposal to reappoint Vasudevan P N as the Managing Director & Chief Executive Officer (MD &CEO) of the bank, for a period of one year with effect from July 23, 2022," it said in a regulatory filing. Earlier in May this year, ESFB founder and CEO Vasudevan P N had asked the lender to look for his successor as he wanted to step down to pursue "a distinct set of goals". He is also the Managing Director of Equitas, which began as a micro finance institution in 2007 and was later converted into bank in 2016. In a letter to ESFB last month, Vasudevan expressed his desire to quit but did not gave a timeline. Vasudevan said he along with his wife has created a public charitable .

RBI pulls up banks for flouting norms on infra loans to govt entities

Must follow instructions in 'letter and spirit'

SBI and IDBI Bank join trend, raise their interest rates on deposits

Interest rates on retail term deposits (below Rs 2 crore) of 211 days to less than one-year tenor have been increased by 20 bps to 4.6 per cent. It was 4.4 per cent earlier

Stormy Dhanlaxmi EGM on cards today under a cloud of allegations and exits

The Dhanlaxmi Bank EGM has been called by a group of eleven minority shareholders unhappy with the working of the bank, and its financials