Page 21 - Banking

SBI's exposure to road sector at Rs 90,000 crore, says Dinesh Khara

SBI's exposure to the road sector is close to Rs 90,000 crore, which is 37 per cent of the total banking exposure to the segment, its Chairman Dinesh Khara said on Friday. Speaking at a national conference on investment opportunities in highways, transport and logistics, he said State Bank of India (SBI) is a trusted partner in the growth of the roadway sector in the country. "For all purposes, SBI's exposure to the road sector at Rs 90,000 crore is almost 37 per cent of the total banking exposure to this particular sector," Khara said. The lender has granted credit worth Rs 35,000 crore as of June 30, 2021 to support the National Highways Authority of India (NHAI) for execution of multiple road infrastructure projects. It has granted credit worth Rs 5,000 crore to the SPV (special purpose vehicle) for Delhi-Mumbai Expressway, and has recently extended credit of Rs 8,000 crore to the initiative, he said. The bank is the largest lender to the recently launched National Highways Inf

Two-day bank strike ends; banking operations hit across Maharashtra

Banking operations across Maharashtra remained impacted for the second straight day on Friday as employees of state-run lenders continued their two-day strike against bank privatisation

Bank strike continues for second day, services hit at many places

Banking services across Tamil Nadu remained hit for the second day on Friday with employees union staging a protest against the proposed privatisation of nationalised banks by the government

ICICI Bank raises Rs 5,000 crore debt capital by issuing bonds

The board of directors of the bank had in April this year approved to raise funds by issuing debt securities

Yes Bank board to consider raising funds via various instruments on Dec 21

The bank has, however, not specified how much money it intends to raise

Banking services impacted as 900,000 employees go on two-day strike

Staffers take out marches in protest against privatisation of public sector banks; a few customer service centres kept functional

UBS clarifies it remains committed to India as advisory services move

Bloomberg on Wednesday reported that UBS planned to shut its global banking office in India and move investment banking coverage for the country offshore

SME neo-banking platform Open buys Finin for $10 mn in cash-and-stock deal

Deal will strengthen Open's cloud native enterprise offering BankingStack through which it has deployed SME digital banking solutions for 17 banks

Deposit insurance reforms to instil confidence in people on banking: PM

At Vigyan Bhawan, the Prime Minister said banks play an important role in the progress of any nation

Bank of Maharashtra lowers home loan rate to all-time low of 6.4%

The new rates would be effective from December 13, it said

Ujjivan SFB raises interest rates by 50-75 bps on FDs up to Rs 2 crore

For depositors aged under 60, the bank is offering 6.5% for a 12 months tenure, and 6.6% for 19-24 months; seniors get an additional 75 bps across tenures

Brazil's Nubank raises $2.6 billion in top-of-range US IPO

Nubank warned investors to brace for "short-term profit implications" from the firm's expansion push

Digital banking push turned into pull factor: Former SBI Chairman

Digitisation of banking services in India, which started as a "push", has now turned into a "pull" factor, State Bank of India's ex-Chairman Rajnish Kumar said

Measures taken to protect bona fide commercial decision of banks: FM

This is to alleviate the fear of any unwarranted hardships to officials or senior executives taking key decisions: FM

RBI imposes curbs on Nagar Urban Co-op Bank, caps withdrawals at Rs 10,000

The restrictions, imposed through directions under the Banking Regulation Act (as applicable to co-operative societies), 1949, shall remain in force for a period of six months

Over 55% Jan Dhan account holders are women: Finance Ministry

There is no requirement to maintain any minimum balance in PMJDY accounts

Citigroup applies for China securities license, to hire 100: WSJ report

The bank recently submitted its application to the China Securities and Regulatory Commission, says report.

Rs 26,697 cr lying in dormant accounts of banks: FM Sitharaman

This money is lying in nearly 9 crore accounts which have not been operated for 10 years

Governance, transparency in Indian banks weak by global standards: S&P

The lack of improvement in risk management and corporate governance in the coming growth cycle could produce a new crop of sour loans, the rating agency said

Australia's banking watchdog publishes long-awaited capital rules

Following four years of consultation, the new Basel III-aligned set of standards change the models used by banks to work out how much capital they need to hold, and will come into effect in 2023