Page 99 - Banking Sector

State-run banks likely to see bad loan additions moderate: Morgan Stanley

Structural issues, however, could cap returns on their stocks, Morgan Stanley said

Axis Bank partners WhatsApp to offer basic banking services

Axis Bank on Wednesday said it will be available on popular social messaging app WhatsApp and will allow basic banking services, including account balance, and transactions history. The third largest private sector lender said the service will allow customers to seek information regarding their account balance, recent transactions, credit card payments, fixed and recurring deposit details, besides getting their queries answered in real-time. The facilities will be available to both the bank and non-bank customers, it said. Among others, people can put their queries about nearest branch, ATM, loan centre location. Customers can also apply for various banking products through WhatsApp, it said. They can also block their credit or debit card using the secure end-to-end encrypted messaging channel. Axis Bank said all the services on WhatsApp Banking will be available 24X7, including holidays. To get on-board, customers need to send a Hi to 7036165000 on WhatsApp. "Our objective is to

Mortgage lender HDFC to raise up to Rs 5,000 crore through bonds

The firm will issue non convertible debentures (NCDs) on a private placement basis

IDBI Bank likely to take call on additional tier-1 bonds post-PCA exit

The lender is in a better shape and the current capital base is adequate and could support growth in the next financial year

UK banks face savings glut on road to Covid-19 pandemic recovery

More deposits help shore up bank finances, but are not necessarily good news for lenders

IDBI Bank to set off accumulated losses worth Rs 45,586-crore

The issued, subscribed and paid-up share capital is worth Rs 10,752.40 crore and the security premium is of Rs 50,732.27 crore.

Citibank likely to hive off consumer banking business in India

Reorganising global consumer operations on the table of new CEO

PM harps on trust and transparency for depositors, investors in fin sector

Says banking sector was badly hit 12 years ago due to aggressive lending; but now instead of brushing NPAs under the carpet, it is mandatory to report even one-day defaults

Indian banks' loans rose 6.6% in two weeks to Feb 12: RBI data

Deposits rose 11.8%

Proposed ARC will not 'jeopardise' existing players: RBI governor

The ARC will not 'jeopardise' the activities of existing players in the space, Das said on Thursday

Centre lifts embargo on grant of govt businesses to private banks

Move will spur competition, promote efficiency in customer service standards

India's economic recovery to cut bank stress, but Covid hit to be felt: S&P

While the Indian economy is on a mend, the permanent GDP loss stemming from the brunt of the coronavirus is huge at 10 per cent

HSBC's India pretax profit in 2020 inches up to $1.02 billion

India is the third most profitable region for the lender after Hong Kong and mainland China

Top banks asked to justify why they still clear euro swaps in London

Banks are being asked to say which types of the derivatives they clear in Britain they would consider "the easiest to clear" at an EU clearer instead, a sign of a potentially targeted approach

Federal Bank aims 'mid-teen' growth in credit for fiscal 2022

The firm is aiming for an acceleration in credit growth into 'mid-teen' figures in 2021-22

HSBC to announce exit from US retail banking, reshuffles top jobs

HSBC on Tuesday is set to report an expected plunge in annual profits reflecting the impact of the Covid-19 pandemic

Unsecured loans come back to haunt private banks after 13-year gap

ICICI Bank, Axis, among others see rise 'proforma' slippages in Q3

SBI Payments to launch YONO Merchant app for low-cost payments

SBI Payments is a subsidiary of India's largest lender State Bank of India

SC gives RBI six months to lay down regulations for locker facility

The court held that banks cannot wash off their hands towards their customers for the operation of lockers

Karnataka Bank reports Rs 34.16-crore fraud to Reserve Bank of India

Private sector lender Karnataka Bank on Friday said it has reported to the RBI a fraud of about Rs 34.16 crore in credit facilities extended to IL&FS Transportation Networks, which is a dud account now. "The bank has reported to RBI (Reserve Bank of India) a fraud in the credit facilities extended earlier to IL&FS Transportation Networks Ltd with an outstanding balance of Rs 34.16 crore (defaulted entity)," Karnataka Bank said in a regulatory filing. The lender said IL&FS Transportation had availed credit from it during 2016 under multiple banking arrangement in which Karnataka Bank was one of the members. During 2018, the borrowing account was classified as non-performing asset and has been fully provided for, it added. Karnataka Bank stock closed 0.72 per cent down at Rs 69.40 apiece on BSE.