Page 8 - Banking System

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

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

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

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Biden says US banking system is safe after Silicon Valley Bank collapse

President Joe Biden on Monday told US residents that the nation's financial systems are sound, following the swift and stunning collapse of two banks that prompted fears of a broader upheaval. American can have confidence that the banking system is safe, he said from the Roosevelt Room before a trip to the West Coast. Your deposits will be there when you need them. US regulators closed the Silicon Valley Bank on Friday after it experienced a traditional bank run, where depositors rushed to withdraw their funds all at once. It is the second largest bank failure in U.S. history, behind only the 2008 failure of Washington Mutual. In a sign of how fast the financial bleeding was occurring, regulators announced that New York-based Signature Bank had also failed. The president, speaking from the Roosevelt Room shortly before U.S. markets opened, said he'd seek to hold those responsible and pressed for better oversight and regulation of larger banks. And he promised no losses would be bor

The accidents have started

The failure of SVB was due to idiosyncratic reasons, but shows how higher rates can expose fault lines in unforeseen places