Page 95 - Banking Sector

DBS to buy 13% stake in privately-held Chinese lender for $814 million

DBS is Southeast Asia's largest bank

A brief look at REPCO, the latest universal bank licence candidate

Repco Bank would approach the private sector for investments. However, it is yet to start such exercise.

A hale and hearty banking sector but...

More than banks, most of which have the balance sheet strength to stomach bad loans, it is the borrowers who will suffer once they are branded as defaulters since no lender will give them fresh money

Bank FDs in spotlight as returns of liquid funds hit two-decade low

1-year returns down to less than 3.5%, below short-term rates offered by banks on FDs

Morgan Stanley profit blows past estimates, flags $900-mn loss on Archegos

Net revenue jumped 61% to $15.72 billion.

Citigroup announces retail business exit from India, 12 other countries

Says it lacks the scale to compete in retail space, will focus on wealth management business

SBI refunds charges deducted from basic savings bank deposit accounts

In a statement, SBI said it had stopped recovering charges in BSBD accounts on all digital transactions with effect from September 15

Covid-19: Bank unions request finance ministry for steps to protect bankers

Bank unions have asked the finance ministry to initiate measures such as reducing banking days and allowing branches to work with minimum staff to protect employees from coronavirus infection.

Citigroup to exit retail banking operations in India, 12 other countries

CEO Jane Fraser says Citi lacked the scale to properly compete in the 13 markets it is leaving

Q4 results preview: Quick economic recovery to aid banks' profits

On the profitability front, the brokerage pegs operating profit growth at 15 per cent YoY with 12 per cent YoY for private and 19 per cent for PSBs

Remain watchful of evolving situation, push credit flows: RBI Guv to banks

RBI Governor Das asked banks to remain watchful of the evolving situation

State Bank of India's latest target: Rs 4-trn SME loan book by March 2024

It has become easier to do business, especially in the SME banking space, with rising pace of formalisation

One-fourth of bank loans in FY21 given in last fortnight of year: RBI data

Bank credit up 5.6% in FY21; Deposits surge 11.4%

Second Covid-19 wave heightens risks for Indian banks, says Fitch

Agency already sees moderately deteriorating environment for sector in 2021. Headwinds will intensify if rising infections and follow-up measures to contain the virus further affect business

Privatisation of two public sector banks on meeting agenda next week

Four to five PSBs have been suggested by the Niti Aayog and they will be discussed in the meeting, sources said

Hike in deposit limit: Payment banks likely to attract bigger clients

Industry sources said banks had made a case for increasing the limit to Rs 5 lakh in line with the hike in deposit insurance cover

Dhanlaxmi Bank gross advances up over 4% by March; deposits rise over 7%

Private sector lender Dhanlaxmi Bank witnessed over 7 per cent year-on-year growth in its total deposits during the financial year ended March 2021, while advances rose over 4 per cent.

Payments banks can now hold max balance of Rs 2 lakh per customer

The RBI has doubled the limit of maximum balance that an individual customer can hold with payments banks to Rs 2 lakh from Rs 1 lakh earlier with immediate effect

Monetary policy: Soon, you can withdraw cash from digital wallets

The rationale behind this move is to level the playing field between banks and non-banks PPI issuers

Bharti AXA Life, Fincare SFB join hands for bancassurance partnership

Bharti Axa Life and Fincare Small Finance Bank have joined hands for a bancassurance partnership under which the bank will sell insurance policies to its customers.