Page 84 - Banking Sector

Banks' microloan portfolio contracts 7% to Rs 2.36 trillion in June quarter

The quarterly decline in gross loan portfolio (GLP) was seen across all lender types, including commercial banks, finance companies

Gross NPAs of banks may decline to 6.9% by March 2022: Report

Gross non-performing assets (NPAs) and net NPAs of banks are likely to decline to 6.9-7 per cent and 2.2-2.3 per cent, respectively, by the end of March 2022

BS BFSI Summit: Economic recovery is on but risks lie ahead, say economists

There is still uncertainty around domestic demand, capital expenditure by state governments, non-performing assets of the banking sector, and supply-side constraints

Cash going to co-exist with central bank digital currency: Subbarao

Former RBI governor D Subbarao on Monday said there is a strong motivation for the central bank to launch a digital currency and cash is going to coexist with the new-age currency

HDFC Bank Q2 net up 18% to Rs 8,834 cr, steady rise in interest, fee income

Asset quality is largely stable; Total deposits up 14.4% at Rs 14.06 trillion YoY, advances rise 15.5% to Rs nearly Rs 12 trillion

UCO Bank chief A K Goel is new IBA chairman, succeeds Union Bank MD

Banks Board Bureau had, in September, proposed Goel's for the forthcoming position of MD-CEO at Punjab National Bank. Centre to take final call on the appointment

Contenders for Citibank's retail arm still in due diligence stage

Lender may take time till December to finalise a buyer, no shortlist made so far, says a source

Earnings preview: Bank profits to show steady rise despite provisions

Rise in stressed assets may not push bills for provisions as lenders maintain higher provision coverage ratio for few quarters

Privatisation is far more difficult than consolidation

For public sector banks, the government is the superboard, with both ownership and regulatory powers under its belt. Is it ready to give up these powers?

Banks need to accelerate green lending for sustainable growth: SBI chief

Banks have always been the backbone of India's economic growth and as the country pivots to sustainable growth, the banking sector will have to accelerate green lending, said SBI Chairman Dinesh Khara

SBI stock trades higher for third straight session, nears record high

The stock was up 1.4 per cent at Rs 471 on the BSE in Wednesday's intra-day trade, quoting close to its record high of Rs 471.85 touched on September 17, 2021

State-owned Canara Bank cuts MCLR by up to 15 bps

Meanwhile, DCB Bank also reduced its MCLR by 0.05 per cent across tenors, effective from October 6.

HDFC Bank launches Festive Treats 3.0 with over 10,000 offers

The private sector lender has partnered with over 10,000 merchants across more than 100 locations

Yes Bank posts 3.6% growth in advances at Rs 1,72,945 cr in Sep quarter

Yes Bank posts 3.6% growth in advances at Rs 1,72,945 cr in Sep quarter

New RBI norms kick in today, may hit 50% recurring payments

Tt would take at least three months for the entire payments system to start working smoothly, say companies and banks.

ICRA flags asset quality pressure risk for IDBI Bank due to pandemic

The agency upgraded the rating for the Mumbai-based private lender's bonds, debentures and tier-II capital instruments from "A" to "A+"

7 am-7 pm: The business hours of digital fraudsters, says HDFC Bank

65%-70% of cyber frauds happen during banks' business hours since fraudsters want to gain the trust of their victims and sound convincing, said an HDFC Bank executive

Bank of India raises Rs 1,800 cr via Basel-III-compliant bonds

State-owned Bank of India on Thursday said it has raised Rs 1,800 crore by issuing Basel-III-compliant bonds. The bank raised Rs 1,800-crore Basel-III-compliant tier-II bonds on September 29 on a private placement basis, it said in a statement. The 10-year tenure bonds with a 5-year call option had a base issue size of Rs 1,000 crore and carries a coupon rate of 7.14 per cent. The issue was oversubscribed by two times, said the lender. "Bank has also successfully concluded the QIP issue of Rs 2,550 crore during August 2021, and with this issuance of QIP (qualified institutional placement), the Government of India stake in the bank has reduced to 81.41 per cent from 90.34 per cent earlier," it said. Earlier, Bank of India had raised Rs 1,352 crore of Basel-III compliant additional tier-I bonds on a private placement basis. Adequate capital buffer will facilitate better management of asset erosion, if any, and growth in the loan book through better risk appetite in a real sector ..

Banks disburse Rs 7,500 cr under Credit Guarantee Scheme for microfinancing

The scheme was announced by Finance Minister Nirmala Sitharaman in June

Centre starts talks with RBI to kick off bank privatisation process

The process of bank privatisation would be different from the sale of any other PSU, and more restrictions and measures will have to be put in place, the official said