Page 3 - Banking System

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

RBI may look at OMOs to infuse durable liquidity, say market experts

Government cash balance turns negative; Fx market remains volatile

IBPS PO 2024: Prelims scorecard announced at official website, details here

The IBPS has announced the IBPS PO Prelims Score Card 2024 on Nov 27, 2024. Candidates appearing for the CRP PO/MT-XIV prelims can now download their scorecards from the official website at ibps.in

China injects $124 bn into banking system via one-year policy loans

The People's Bank of China (PBOC) lent the medium-term facility (MLF) loans to financial institutions at 2%, the central bank said

Any waiver to be sectoral, not just for Vodafone Idea: Jyotiraditya Scindia

Starlink needs to comply with existing norms, security concerns for satcom licence

Indian lenders face growing defaults from over-leveraged retail borrowers

Defaults have also risen in the microfinance segment, which includes loans given to low-income borrowers.

Understanding the Investment Banking Recruitment Process: How Courses Prepare You?

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IBPS RRB Clerk 2024: Result announced at ibps.in; check details inside

The results of the IBPS RRB Clerk Preliminary Examination 2024 have been formally released by the Institute of Banking Personnel Selection (IBPS) at the official IBPS website, ibps.in

RBI to infuse Rs 25K cr via VRR as liquidity turns deficit after two months

Market participants said the banking regulator may conduct more VRR auctions to infuse liquidity if the weighted average overnight money market rates do not align with the repo rate

Banks should adapt to changing customer needs to remain competitive: CEA

Chief Economic Advisor to the Centre, V Anantha Nageswaran has said banks should adapt to changing customer preferences and market dynamics in order to remain competitive. He highlighted the crucial role of agriculture in driving economic growth at an event organised by public sector Indian Bank here on Saturday. In his remarks on the topic 'Indian Economy and Banking: Growth and Trends", Nageswaran stressed on the importance of technological advancements in driving growth and innovation in the industry. The CEA, in a press release issued by the Bank, emphasised the need for banks to adapt to changing customer preferences and market dynamics to remain competitive. He hailed the Indian Bank for its efforts to invest in knowledge sharing and excellence and lauded it's initiative under the MSME Prerana programme which is aimed at training the entrepreneurs. In his address, Indian Bank Managing Director and CEO S L Jain said, "We are delighted to have Dr Nageswaran sharing his insight

Banks plan to ring in festival-season offers with a note of caution

Regulator's action, signs of stress, liquidity pressures to shape business

Road ahead for RRBs: Why consolidation is key to improving rural banking

All stakeholders in RRBs must aim to improve their efficiency and competitiveness. Smaller, loss-making banks should be allowed to be subsumed by sponsor banks or any other commercial bank

Finance ministry plans 'One State, One RRB' policy to boost efficiency

RRBs reported their highest-ever consolidated net profit of Rs 7,571 crore for FY24, with a gross non-performing assets (GNPA) ratio of 6.1 per cent - lowest in 10 years