Page 2 - Banking System

Banks bid ₹45,783 crore at RBI overnight VRR auction as liquidity dips

Banks bid nearly double the notified Rs 25,000 crore at RBI's overnight VRR auction as surplus liquidity fell to Rs 63,745 crore from Rs 1.89 trillion earlier this week

RBI receives ₹31,025 cr bids at VRR auction against ₹50,000 cr notified

RBI's overnight VRR auction received Rs 31,025 crore bids against Rs 50,000 crore notified as surplus liquidity stayed high despite upcoming tax outflows

RBI to conduct overnight VRR auction to infuse Rs 50,000 cr amid GST flows

RBI will conduct an overnight variable rate repo auction to infuse Rs 50,000 crore into the banking system, easing tightness from GST outflows and maturing VRRR amounts

Karur Vysya Bank expands footprint in Maharashtra, Andhra Pradesh

Private sector Karur Vysya Bank has strengthened its footprint with the inauguration of three new branches in Maharashtra, Andhra Pradesh and Tamil Nadu. The Karur-based bank has opened a new branch in KK Nagar, Udayanpatti, Tiruchirappalli in Tamil Nadu, Thane in Maharashtra, and Kurnool in Andhra Pradesh, the bank's Managing Director and CEO Ramesh Babu said. The new branches, which were inaugurated on Monday, would offer a comprehensive range of banking services including accounts, deposits and loans. It would also provide all banking transactions and would meet the specific needs of the customers, a press release from the bank said on Tuesday. Commenting on the branch expansion, Babu said, It is a part of the strategic initiative to strengthen the bank's presence in potential markets and bring services closer to customers. "At KVB, we are continuously working to enhance our service delivery through a combination of physical branches and digital platforms. Last financial year, w

RBI to conduct two VRRR auctions to absorb ₹3 trillion from system

RBI will hold two VRRR auctions on Friday with six-day and three-day tenures to absorb excess liquidity from the banking system, which has a surplus of Rs 4 trillion

From airports to banking, why delaying tech reforms hurts everyone

From easier airport access to opening bank accounts-- slow tech adoption is holding back growth and a hassle-free ecosystem for citizens

Private credit 2.0 expands beyond traditional uses, set for growth in India

Private credit solves two gaps in the market: It helps where the banking system is unable to and offers bespoke solutions to corporate borrowers' specific needs

WACR tops repo rate for the first time in FY26 amid GST outflows

The weighted average overnight call rate (WACR) breached the RBI's repo rate for the first time this fiscal, amid GST outflows, with liquidity surplus in the banking system at around 1% of NDTL

Banks expect RBI to double VRRR auction as liquidity stays surplus

At 2-day VRRR auction, RBI receives bids worth ₹97,315 cr against notified ₹1 trn

Banking system liquidity hits 3-year high at $3.74 trillion: RBI data

Banking system liquidity rose to a net surplus of Rs 3.74 trillion, the highest since June 2022. The market is now awaiting action from the RBI to manage the surplus and ensure monetary transmission

Jana Small Finance Bank applies to RBI for transition to universal bank

Jana Small Finance Bank has applied to the RBI for voluntary transition to a universal bank, meeting key financial criteria including NPAs below regulatory thresholds for two years

RBI fines ICICI, Axis, three other banks for regulatory compliance lapses

The RBI said the banks' non-compliance involved cybersecurity, customer charges, KYC norms, and internal account mismanagement

Internal restructuring to ensure seamless solutions, says Yes Bank

The internal restructuring is a strategic initiative designed to ensure seamless and consistent solutions at every touchpoint

Banks park record Rs 4.13 trillion with RBI in standing deposit facility

This marked the highest amount banks have parked in the SDF since its introduction in April 2022

CD rates top 8% for smaller banks amid banking system liquidity tightness

Indusind raises nearly Rs 15,000 via CDs this week with PSBs take a major chunk

EPFO 3.0 to rollout soon; will allow funds withdrawal from ATMs: Mandaviya

Union Labour Minister Mansukh Mandaviya announced on Thursday that the Employees Provident Fund Organisation (EPFO) will soon launch the "EPFO 3.0 version," which will allow subscribers to withdraw funds from ATMs, along with several other new features. Speaking after inaugurating EPFO's Office Complex of Telangana Zonal Office and Regional Office here this evening, he said the 'EPFO 3.0 version' will be equivalent to the banking system. "In the coming days, EPFO 3.0 version will come. This means EPFO will become equivalent to a bank. Like how transactions are carried out in a bank, you (EPFO subscribers) have your Universal Account Number (UAN) and you will be able to do all your work," he said. "Neither do you to have visit EPFO offices nor do you have to go to employer. It is your money and you can withdraw it as and when you want. Now you still need to go to EPFO offices. I promise you, in the coming days, you can withdraw your money from ATMs whenever you want. We are carrying

No penalty on FD closure, cyber insurance: IDFC FIRST Bank lures elderly

To combat the rising tide of online fraud and cyber threats, the bank provides Rs2 lakh of cyber insurance coverage to senior citizens

No case for CRR cuts with liquidity deficit driven by transitory factors

Anticipating the current liquidity deficit, the RBI in its December policy proactively reduced the cash reserve ratio (CRR) of all banks in two equal tranches of 25 basis points

SBI adds to record samurai loan boom with $197 million debt facility

Mitsubishi UFJ Financial Group Inc. is the lead bank of the deal, which will be raised in the Gujarat International Finance Tec-City

Banking system liquidity surplus touches Rs 1 trn, shows RBI data

Analysts said that the liquidity improved on the back of government spending; however, it is expected to fall into deficit mode soon due to tax outflows