Page 8 - Banking System

Citigroup cuts 300 senior manager roles in latest rejig, says report

"Building a winning bank requires a great deal of commitment, hard work and resilience from each of us," Fraser said in a memo to staff. "I'm fully aware we're asking a lot of our people"

Fintech can emerge as substitute for traditional banking, says RBI's CAFRAL

India's fintech sector can potentially emerge as a substitute for traditional banking in the near future, said a report by CAFRAL, while stressing the need for a "quick and nimble" regulation to ensure growth of digitalisation and financial stability. Reserve Bank Governor Shaktikanta Das on Tuesday released the first flagship publication of the Centre for Advanced Financial Research and Learning (CAFRAL) with the title India Finance Report 2023 (IFR 2023). CAFRAL, a not-for-profit organisation, was set up in 2011 as an independent body by the RBI to promote research and learning in banking and finance. The report provides fresh insights into the non-banking financial sector in India that can aid all stakeholders, including regulators and policymakers, in securing a greater understanding of the sector and a wider appreciation of its niche strengths and opportunities. In his note to the report, RBI Deputy Governor Michael Debabrata Patra said the publication is sensitive to the ...

Adding more bite: A case for tougher RBI penalties for violations

The amounts lenders are fined for violations are too little and may not deter them

Indian banks are facing a higher risk of defaults from unsecured loans: UBS

The note said the share of borrowers with more than five personal loans rose from 1 per cent in 2018 to 7.7 per cent in March 2023

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

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

Best of BS Opinion: Banking investments, India's double brain drain & more

Here is the best of Business Standard's opinion pieces for today

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 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

Transforming banking in India: The rapid adoption of SaaS solutions

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Top headlines: India ripe for semiconductor boom, banks' loans, and more

Business Standard brings you the top headlines at this hour

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

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?

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

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

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

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

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

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.

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