Page 87 - Banking Sector

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

RBI imposes Rs 2 crore penalty on RBL Bank for regulatory non-compliance

RBI imposes monetary penalty on RBL Bank for breaching deposit, board composition norms

HDFC sells part of invoked shares of Ansal Housing to recover dues

Housing Development Finance Corporation Ltd (HDFC) on Saturday said it has sold a part of the shares, invoked by it of Ansal Housing, to recover its dues. In August, HDFC had invoked 46,20,000 shares of Ansal Housing Limited (Ansal) aggregating 7.78 per cent of the paid-up share capital, for recovery of part outstanding dues against loans availed by pledgers/borrowers. "In this connection, we wish to inform you that out of this, the Corporation has in aggregate sold 12,67,504 shares, representing 2.13 per cent of the paid-up share capital of Ansal, including 1,57,939 shares representing 0.27 per cent of the paid-up share capital of Ansal which were sold on September 24, 2021," HDFC said in a regulatory filing.

Bank deposits rise 12% in FY21 on higher CASA growth: RBI data

Among institutional categories, the household sector held 64.1 per cent share in total deposits

Banks should be more liberal on issues like exchange rates: Goyal

Union Commerce Minister Piyush Goyal on Thursday asked bankers to be "more liberal" on aspects like exchange rates while serving the exporters segment.

Axis Bank commits Rs 30,000 cr till FY26 towards sustainable lending

The country's third largest private sector lender Axis Bank has committed Rs 30,000 crore lending till fiscal year 2025-26 under its sustainable financing framework, a senior official said.

DICGC asks 21 stressed cooperative banks to prepare list of account holders

DICGC has also asked the banks to circulate consent form to account holders for accessing funds up to Rs 5 lakh as per the amended law within 90 days.

An existential crisis for banking sector?

The business model of banks is under threat. While they need to reinvent themselves, both banking and market regulators must take a close look at the evolving landscape

We want Federal Bank to be the 'Rahul Dravid' of banking space: MD-CEO

In a Q&A, Shyam Srinivasan says he wants the lender to be a predictable and trustworthy brand. He also expects home loan interest rate wars to erupt in the festive season

Punjab National Bank cuts repo-based lending rate by 25 bps to 6.55%

State-owned Punjab National Bank (PNB) on Friday said it has slashed the repo-based lending rate by 25 basis points (bps) to 6.55 per cent.

RBI nod to special committee to oversee operations at Ujjivan SFB

The Reserve Bank has given its go-ahead to Ujjivan Small Finance Bank (SFB) to form a special committee of directors to oversee operations in the absence of an MD and CEO. The Reserve Bank of India (RBI) in a letter dated September 15, 2021, has approved the constitution of 'Special Committee of Directors' with three independent directors as its members, Ujjivan SFB said in a regulatory filing on Thursday. The committee will "oversee the operations and administration of the bank in the absence of the Managing Director and CEO with effect from September 16, 2021," it said. Last month, the Bengaluru-based company had appointed old hand Carol Furtado to take charge as officer on special duty (OSD) till September 30, 2021, following the resignation of Nitin Chugh as MD and CEO. She will take charge as the interim CEO from October. "The board of Ujjivan SFB, in parallel, will evaluate suitable candidates for the MD & CEO position, and submit two names to RBI for approval," the lender .

Sebi mulls carving out separate AIF category to buy distressed loans

Markets regulator Sebi is planning to carve out a separate category in Alternative Investment Funds (AIF) whereby such entities can purchase distressed loans from banks and NBFCs.

Indian Banks' Association to steer 'EASE reforms' in public sector banks

EASE agenda is aimed at institutionalising clean and smart banking

Gross NPAs of banks to cross Rs 10 trn by March 2022: Study

The study also highlighted that risk management practices of Indian banks