Page 13 - Banking

RBI seeks greater transparency in floating interest rates of retail loans

As policy interest rates rise, lenders pass on the burden to customers by either raising their monthly payments or increasing the tenor of their loan

TMSEp487: Banking, Bharat Mandapam, markets, Global Biofuel Alliance

Why are Indian corporates so keen on banking? What makes Bharat Mandapam significant? Are the markets entering a consolidation phase? What is the Global Biofuel Alliance? Answers here

Elon Musk pursues financial services in wake of rivals' failed attempts

US tech companies have struggled in their attempts to take on banking behemoths, often scaling back their ambitions in the face of competition and protracted approval processes

ED registers 490 fraud cases related to NPAs worth over Rs 20 crore

The Directorate of Enforcement has recorded 490 bank fraud cases related to non-performing assets (NPAs) of Rs 20 crore or more in the last 5 years under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA), Parliament was informed on Tuesday. "As on July 20, 2023, proceeds of crime amounting to Rs 26,732.68 crore approx. have been attached/freezed, 82 persons have been arrested and 80 prosecution complaints have been filed before the special court, PMLA in these cases," Minister of State for Finance Bhagwat Karad said in a written reply to the Rajya Sabha. Further, he said, assets worth Rs 15,113.02 crore have been confiscated and restituted to public sector banks. In the case of an account classified as NPA, banks initiate recovery action under various recovery mechanisms, such as filing a suit in civil courts or in debts recovery tribunals, action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, filin

CMS Info Systems net profit rises 22% growth in Q1 on higher revenue

CMS Info Systems, which is into banking logistics and technology services, on Friday reported a 22 per cent growth in net income to Rs 87 crore for the June 2023 quarter on higher revenue. Its revenue grew 13 per cent year-on-year to Rs 512 crore in the reporting quarter, from which it earned a margin of 29.6 per cent, the company said in a statement. The cash logistics business' revenue rose 12 per cent to Rs 351 crore and gave an operating profit of Rs 94 crore, and the revenue from managed services and technology solutions business grew by 17 per cent to Rs 182 crore, and operational profit of Rs 34 crore. During the quarter the company handled the highest-ever quarterly currency throughput at Rs 3.3 lakh crore, which was 6 per cent more than the 12 trailing months. Managed services business has won Rs 150 crore of new orders in the quarter and successfully installed 5,200 plus ATMs for PNB, thus becoming the largest managed services provider for that bank. Its vice-chairman Ra

SBI seeks to raise Rs 10,000 cr in tier-I bonds, wary about spike in yields

Offering slated for coming week; bank to decide on actual issuance based on yield level in the market, which hardened in the last two weeks

3/4 of all Indian households are debt-free, 69% save in banking instruments

The survey covered over 40,000 households, both rural and urban from 25 states.

Banking beyond weather reports: Why lenders need a green business strategy

Indian lenders have yet to train their employees to assess credit risks arising from climate change

Banks' retail book quality needs to be monitored

All the same, the asset quality trajectory and collection efficiency bear watching

RBI finalises norms for banks to hold capital for operational risks

Apex bank will communicate date of implementation separately

Want to be mid-sized bank with pan-India presence by 2030: CSB Bank chief

We are revamping our entire technology platform, almost there will be nothing in the bank which was there two years back, Pralay Mondal, MD & CEO of CSB Bank

RBI asks banking supervisors to get abridged with latest tech tools

The Reserve Bank has called upon banking supervisors to get abridged with the latest technological tools so that their capabilities are enhanced enough to meet the challenges of the fast-evolving financial technologies. As banks adopt new technologies, it is essential for supervisors to be equipped with the necessary knowledge, skills and resources to effectively supervise and regulate these advancements, Reserve Bank deputy governor Mukesh Jain told the 25th SEACEN-FSI conference of the directors of supervision of Asia-Pacific economies here. Jain, who is in charge of the banking supervision at the central bank, further said this is all the more necessary as in today's rapidly evolving banking landscape, supervisors cannot afford to stay behind the curve and therefore it is essential for banking supervisors to stay abreast of industry developments, enhance their supervisory techniques, and strengthen risk management practices to address emerging challenges. The best way to achieve

Stellar show by banks, but will it continue?

There are challenges ahead. It won't be easy for the banking sector to put up a better performance every quarter

Nomura India's Head of Investment Banking Utpal Oza steps down: Report

Amit Thawani, managing director and head of coverage investment banking has taken over from Oza, the sources said

From inclusive banking to inclusive insurance

As insurance penetration deepens, India will have a decent pool of long-term funds to support infrastructure building and the government's borrowing programme, easing the burden on the banking system

ESMA row: EU banks likely to turn Indian entities into subsidiaries

ESMA's decision followed the Reserve Bank of India's refusal to grant the European regulator supervisory powers over the Indian CCPs

Sebi bars Karvy Investor Services from onboarding new clients

In an ex-parte order, the Securities and Exchange Board of India (Sebi) noted that KISL did not have the necessary infrastructure like adequate office space, equipment and manpower to work as merchant

AU Bank's credit card business will break even in FY25: CEO Sanjay Agarwal

Banking will completely shift from brick-and-mortar to online in some 10 years, he says

First Republic Bank plans $100 bn asset sale to shore up balance sheet

In addition to selling assets, the bank also plans to focus on loans that can be sold on the secondary market

Banking system 'strong enough to survive' policy rate changes: FinMin study

Probability of event like Silicon Valley Bank's collapse in the US happening in India significantly less, says ministry's monthly review