Page 7 - Banking System
Wadia Group to stay away from Go First insolvency process: Report
A third source involved in the insolvency process said while the law does not prohibit the Wadia Group from joining the process at a later stage, there was no current indication it would do so
 "Wadia Group to stay away from Go First insolvency process: Report")
No signs of systemic risk build-up in bank credit: RBI's Michael Patra
The deputy governor also said that the ongoing surge in bank credit expansion is primarily driven by retail loans
 "No signs of systemic risk build-up in bank credit: RBI's Michael Patra")
Best of BS Opinion: Banking investments, India's double brain drain & more
Here is the best of Business Standard's opinion pieces for today
 "Best of BS Opinion: Banking investments, India's double brain drain & more")
Banking system's liquidity slips into deficit for the first time in FY24
RBI governor had emphasised that the I-CRR move was temporary and that the central bank will ensure adequate liquidity in the system to fund the credit needs of the economy
 "Banking system's liquidity slips into deficit for the first time in FY24")
Banking system's liquidity slips into deficit for first time in FY24
Banking system liquidity stood at a deficit or 236 billion rupees ($2.84 billion) as of Aug. 21, according to RBI data
 "Banking system's liquidity slips into deficit for first time in FY24")
 "Transforming banking in India: The rapid adoption of SaaS solutions")
Top headlines: India ripe for semiconductor boom, banks' loans, and more
Business Standard brings you the top headlines at this hour
 "Top headlines: India ripe for semiconductor boom, banks' loans, and more")
76% of Rs 2,000 bank notes returned to banks till June 30, says RBI
Bank notes' withdrawal from circulation was announced on May 19
 "76% of Rs 2,000 bank notes returned to banks till June 30, says RBI")
India's quantitative tightening
The persistent gap between credit and deposit growth has perplexed many. Could it be due to shortfalls in money injection by the RBI?
 "India's quantitative tightening")
Reserve Bank to conduct 14-day VRRR auction worth Rs 2 trillion today
India's banking system liquidity surplus has received a boost over the last few days and rose to Rs 1.76 trillion
 "Reserve Bank to conduct 14-day VRRR auction worth Rs 2 trillion today")
Former SVB chief Greg Becker set to testify to Senate on bank collapses
Scott Shay and Eric Howell, the former chair and president of Signature Bank, which also failed in March, are to appear on May 16
 "Former SVB chief Greg Becker set to testify to Senate on bank collapses")
SVB's CEO, CFO step down more than a month after the lender's collapse
The firm is exploring strategic alternatives for its remaining businesses, SVB Capital and SVB Securities
 "SVB's CEO, CFO step down more than a month after the lender's collapse")
Bank credit grows 15.7%; deposits increase 10.2%, shows RBI data
The growth in deposits was 10.2 per cent YoY basis to Rs 184.5 trillion at end of April 7
 "Bank credit grows 15.7%; deposits increase 10.2%, shows RBI data")
No need to activate countercyclical capital buffer for banking system: RBI
Credit to GDP gap is the difference between credit-to-GDP ratio and the long term trend value of credit-to-GDP ratio at any point in time, according to RBI
 "No need to activate countercyclical capital buffer for banking system: RBI")
RBI to set up portal to search across multiple banks for unclaimed deposits
The Reserve Bank on Thursday announced to set up a centralised portal to access details of unclaimed deposits by depositors or their beneficiaries across various banks. About Rs 35,000 crore unclaimed deposits as of February 2023 were transferred to RBI by public sector banks (PSBs) in respect of deposits which were not operated for 10 years or more. In order to improve and widen the access of depositors or beneficiaries, it has been decided to develop a web portal to enable search across multiple banks for possible unclaimed deposits, RBI Governor Shaktikanta Das said while announcing the first bi-monthly monetary policy for current financial year 2023-24. State Bank of India (SBI) tops the chart of unclaimed deposits worth Rs 8,086 crore followed by Punjab National Bank Rs 5,340 crore, Canara Bank Rs 4,558 crore and Bank of Baroda Rs 3,904 crore.
 "RBI to set up portal to search across multiple banks for unclaimed deposits")
Banking on a systems upgrade: What more could we expect going ahead
The cautionary tale from the Block Inc debacle is that increasing digitisation of retail financial services in India has raised the threat levels of frauds
Banks can't withhold loan on flimsy ground
The District Commission concluded that raising a doubt about the validity of the NOC at such a belated stage could not be permitted
India's economic, banking systems strong even amid global turmoil: PM Modi
"Amidst a global crisis, today India's economic system is strong, the banking system is strong. This is the power of our institutions," Modi said
 "India's economic, banking systems strong even amid global turmoil: PM Modi")
Indian banking system is stable, resilient: RBI governor Shaktikanta Das
Highlighting the developments in the United States banking system over the past weeks, wherein few banks have gone belly up, RBI Governor Shaktikanta Das said
 "Indian banking system is stable, resilient: RBI governor Shaktikanta Das")
Latest LIVE: UK, German fighter jets intercept Russian plane near Estonia
Catch all the live news updates from across the globe here
 "Latest LIVE: UK, German fighter jets intercept Russian plane near Estonia")
