Page 5 - Banking System

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

Banks can't charge additional than key facts statement, says RBI

KFS is a statement of key facts of a loan agreement, in simple and easier-to-understand language, provided to the borrower in a standardised format

Election season may hit govt capital expenditure spending, FDI inflows

In case of FDI, the total FDI inflows was over $50 billion in FY20 and its share during the election months of April-May 2019 turned out to be 18.1 per cent

Monetary policy: Review of liquidity ratio framework for banks on the cards

Securities that are eligible for the statutory liquidity ratio like central and state government bonds are reckoned as HQLA for the purpose of calculating LCR. Banks have to maintain 100 per cent LCR

IndusInd Bank records 18% growth in advances at Rs 3.42 trillion in Q4

Private sector lender IndusInd Bank on Thursday said it has posted an 18 per cent growth in advances at Rs 3,42,857 crore during the March quarter. Net advances stood at Rs 2,89,924 crore at the end of the fourth quarter of the last financial year, IndusInd Bank said in a regulatory filing. The bank's deposits also rose 14 per cent to Rs 3,84,789 crore in the quarter under review, from Rs 3,36,438 crore in the same period a year ago, it said. IndusInd Bank's low-cost deposits -- current account and saving deposits (CASA) -- declined to 37.9 per cent as against 40.1 per cent of the total liabilities during the quarter. Meanwhile, Suryoday Small Finance Bank reported a 41 per cent increase in gross advances to Rs 8,650 crore for the fourth quarter ended March 2024 against Rs 6,114 crore in the year-ago period. At the same time, the bank posted a 50 per cent jump in deposits to Rs 7,775 crore as compared to Rs 5,167 crore in the same quarter a year ago, Suryoday Small Finance Bank sa

Bandhan Bank's advances increase 17.8% to Rs 1.28 trillion in Q4FY24

Bandhan Bank on Thursday said its loans and advances have clocked Rs 1.28 lakh crore at the end of the fourth quarter of the 2023-24 fiscal, registering a 17.8 per cent growth year-on-year. The lender said the same was Rs 1.09 lakh crore by the end of March 31, 2023. The bank said, in a regulatory filing, that the total deposits during the March quarter of FY'24 stood at Rs 1.35 lakh crore with a 25.1 per cent rise year-on-year. CASA deposits of the lender at the end of the quarter ending March 31, 2024 stood at Rs 50,151 crore. The CASA ratio was at 37.1 per cent. The collection efficiency ratio of the bank at the end of the fourth quarter of the last fiscal stood at 99 per cent, it said. Retail deposits of the bank (including CASA) at the end of the quarter ending March 31, 2024 stood at Rs 93,794 crore, and bulk deposits at Rs 41,404 crore.

97.69% of Rs 2000 currency notes returned to banking system, says RBI

The Reserve Bank of India (RBI) on Monday said nearly 97.69 per cent of the Rs 2000 denomination bank notes have returned to the banking system, and only Rs 8,202 crore worth of the withdrawn notes are still with the public. On May 19, 2023, the RBI announced the withdrawal of Rs 2,000 denomination bank notes 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 Rs 2000 banknotes was announced, has declined to Rs 8,202 crore at the close of business on March 29, 2024, the Reserve Bank of India said in a statement. "Thus, 97.69 per cent of the Rs 2000 banknotes in circulation as of May 19, 2023, has since been returned," it added. The Rs 2,000 banknotes continue to be legal tender. People can deposit and/or exchange Rs 2000 bank notes 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 Issu

Facility to exchange, deposit Rs 2,000 notes not available on Apr 1: RBI

The facility to exchange or deposit Rs 2,000 banknotes will not be available on Monday, April 1, 2024 due to operations associated with the annual closing of accounts, the Reserve Bank of India (RBI) said on Friday. The facility will resume on Tuesday (April 2, 2024) at the 19 issue offices of the RBI, it added. "The facility of exchange/deposit of Rs 2,000 banknotes will not be available on Monday, April 1, 2024 at the 19 issue offices of the Reserve Bank of India due to operations associated with the annual closing of accounts," it said. On May 19, 2023, the RBI announced the withdrawal of Rs 2,000 denomination bank notes from circulation. Nearly 97.62 per cent of the Rs 2,000 bank notes have returned to the banking system at the close of business on February 29, and only about Rs 8,470 crore worth of the withdrawn notes are still with the public. People can deposit and/or exchange Rs 2,000 bank notes at the 19 RBI offices across the country. People can also send Rs 2,000 bank

S&P Global downgrades outlooks on 5 regional US banks to 'negative'

It downgraded First Commonwealth Financial, M&T Bank , Synovus Financial, Trustmark and Valley National Bancorp

Improving confidence

A healthy banking system will support growth

Bank direct lending to NBFCs to moderate at Rs 1.7-1.9 trn in FY25: ICRA

That's because of the recent rise in risk weights by the Reserve Bank of India for NBFC exposures

FinMin asks PSBs to ensure compliance in withdrawal from Rera accounts

RERA Act, 2016 mandates the funds from escrow accounts can only be accessed by the promoter after certification from a practising architect, engineer, and chartered accountant

Depositors can claim their unclaimed amount refund from DEA Fund

However, if the deposit amount is above the insurance coverage of DICGC, then the liquidator can claim the amount only on a reimbursement basis

'RBI likely to take delivery of maturing $5 bn FX swap next week'

Taking delivery of the FX swap would infuse around 400 billion rupees but cash outflows towards direct taxes are expected to ensure a sustained deficit in the system