Page 4 - Banking System

CS Setty: Soft spoken village boy set to occupy SBI's corner office

CS Setty is currently looking after international banking, global markets & technology portfolios

Window opens to give urban cooperative banks an uplift

The success of National Urban Cooperative Finance and Development Corporation will revive public confidence in the sector and provide regulatory comfort

Now, users can't make credit card repayments on third party apps

Many players said they will pause credit card payment for banks that have not gone live

SBI plans to open 400 new branches across country in FY25: Chairman Khara

As part of the network expansion plan, State Bank of India (SBI) is planning to open 400 branches across the country in the current financial year. The country's biggest lender opened 137 branches last fiscal. Of the total, 59 new rural branches were launched. "Somebody asked me if 89 per cent of digital and 98 per cent transactions were happening outside the branch, whether the branch is required anymore. My answer is yes. It is still required because there are newer areas which are emerging," SBI Chairman Dinesh Kumar Khara told PTI in an interview. There are certain services like most of the advisory and wealth services that can be offered only from the branch, he said. "We will be identifying locations where the opportunity exists, and in those locations, we plan to open branches. Almost 400 branches we plan to add this year," he said. SBI has a network of 22,542 branches across the country as of March 2024. Asked about the monetisation of subsidiaries, Khara said that SBI wo

Securitisation volumes back to historic high after HDFC twins' merger

Housing finance company accounted for 23% of the FY23 volumes of around 1.8 trillion

India Inc files ECB plans worth $4.28 bn in April, shows RBI data

The registrations for ECBs by Indian companies almost doubled to $49.2 billion in the year ended March 2024 (FY24) from $26.6 billion in FY23

Must invest adequately in IT systems: RBI Governor Shaktikanta Das to banks

Underscores urgency to keep up with growth of digital payments

RBI's dividend transfer may ease deposit rates if govt spends it: Ind-Ra

India Ratings and Research (Ind-Ra) on Thursday said the Rs 2.11 lakh crore dividend transfer by the RBI is likely to ease liquidity pressure and bring down deposit rates in the banking system if the government spends the amount. It said the mega dividend will give a fillip to the central government's fiscal position, which may lead to additional spending or fiscal consolidation or a combination of both. However, the structural challenges for banks in term of deposit accretion will continue in the medium to long term. "The agency expects the RBI's INR 2.1 trillion dividend transfer to the government will improve the liquidity conditions and alleviate heightened pressure on the banking system deposit, leading to the easing of pressure on cost of liabilities for banks in the near term," Ind-Ra said in a statement. The RBI board last week decided to transfer Rs 2.11 lakh crore dividend to the government out of the profits earned in 2023-24. If the government spends the amount, it will

State Bank of India hikes short term retail FD rates by 25-75 bps

Also hikes bulk deposit rates; other lenders may follow suit

Risk provisioning

The stability of the banking system should be paramount

Small is beautiful, but not always

For most SFBs, being a small bank is part of their journey, not the destination

Federal Bank Q4 results: Profit flat at Rs 906 cr due to pension expense

Bank in advance stages of submitting new CEO names to RBI

RBI says 97.76% of Rs 2,000 currency notes returned to banking system

The Reserve Bank of India (RBI) on Thursday said 97.76 per cent of the Rs 2000 denomination banknotes have returned to the banking system, and only Rs 7,961 crore worth of the withdrawn notes are still with the public. On May 19, 2023, the RBI announced the withdrawal of Rs 2000 denomination banknotes from circulation. The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of the high value banknotes was announced, has declined to Rs 7,961 crore at the close of business on April 30, 2024, the Reserve Bank said in a statement. "Thus, 97.76 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned," it said. The Rs 2000 banknotes continue to be legal tender. People can deposit and/or exchange Rs 2000 banknotes at 19 RBI offices across the country. People can also send Rs 2000 bank notes through India Post from any post office to any of the RBI Issue Offices for

South Indian Bank Q4 results: Net profit down 14% at Rs 287.56 crore

The bank's gross non-performing asset in Q4 FY24 came down by 64 basis points from 5.14% to 4.50%

Poonawalla Fincorp Q4 results: Net profit rises 67% to Rs 332 crore

FY24 PAT up 146 per cent year-on-year to Rs 1,683 crore; AUM crosses Rs 25,000 crore

Street Signs: SFBs dive into universal banking waters, Sebi's blank canvas

SFBs will remain in focus in Monday's trade after the RBI issued guidelines for their conversion into universal banks

Lok Sabha Elections 2024 Phase 2: Banks to remain shut today, check details

Lok Sabha Elections 2024 Phase 2: Due to the general elections 2024, banks will remain closed today, April 26. However, online transactions will remain active

DCB Bank Q4 results: Net up 9% at Rs 156 cr, board approves Rs 500 cr QIP

The capital adequacy ratio of DCB Bank stood at 16.59 per cent with Tier-I at 14.53 per cent at the end of March 2024

Cautious approach: Small finance bank model in the slow lane, say experts

Unity Small Finance Bank was the last one to get a licence in the category in November 2021

NaBFID posts net profit of Rs 1,601 cr in FY24; loans stood at Rs 35,342 cr

Considering FY24 being the first full year of business operations, the Board advised that the income be continued to be accumulated as reserves to augment capital growth