Page 7 - Banking

BFSI Summit 2024 highlights: RBI's caution against unsecured lending is appropriate, says KV Kamath

Business Standard BFSI Summit highlights: Catch all the updates related to the BFSI summit here

BFSI summit highlights: Not acquisition but integration a challenge, says Razorpay's MD

Business Standard BFSI Summit 2024 updates: Catch all the updates related to the BFSI summit here

SBI to outsource running of 40% of onsite ATMs, marking largest such order

Lender to issue proposal in 45 days, had 63,580 such machines in FY24

RBL Bank Q2 results: Net profit falls 24% to Rs 223 cr on rising expenses

The net interest income (NII) of the bank rose by 9 per cent in the reporting quarter to Rs 1,615 crore from Rs 1,475 crore

Up to 65 weak Urban Cooperative Banks to exit turnaround regime by March

PCA will replace the existing SAF from the beginning of the new financial year - Apr 2025. During FY24, 122 UCBs across the country came out of SAF. The number of UCBs stood at 1,470 at end of Mar '25

Banking system liquidity improves to 1-month high on back of govt spending

"Government spending is the reason for the rise in liquidity. It might improve further but there will be some action by the RBI to manage liquidity," said Indranil Pan, chief economist, YES Bank

7-Eleven's retail empire includes banking, US' now bankrupt Tower Records

The Japanese retailer originated as a clothing store a century ago and evolved into a general merchandiser, selling everything from groceries and sundries, to clothing and home goods

Best of BS opinion: Lessons from the Wayanad tragedy, banking for growth

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

Banking for growth: PMJDY has improved financial inclusion. What next?

With deposit and credit facilities broadly in place, the government should now focus on spreading financial and digital literacy

IBA likely to seek easing of proposed norms for retail deposits: Report

The RBI had sought feedback on the proposal until Aug 31, after which it would finalise them for implementation from April 2025

Small Finance Banks' loan growth to lower to 25-27% in FY25: CRISIL Ratings

Small Finance Banks' (SFBs) loan growth will moderate to 25-27 per cent in FY25 against 28 per cent in FY24, a domestic rating agency said on Monday. Crisil Ratings said though a tad lower, the advances growth will be robust and driven by factors like segmental and geographical expansion by the entities. While capital buffers remain healthy, SFBs will face challenges in mobilising deposits and their costs and will explore alternative, non-deposit avenues to fund credit growth, the agency said. The asset growth will be driven by traditional microlending being the most popular and new ones like mortgages, small businesses or even unsecured loans. "Credit growth in new asset classes is seen at 40 per cent this fiscal, while that in traditional segments will be 20 per cent," its senior director Ajit Velonie said. He added that the share of new asset classes will cross 40 per cent by the end of March 2025 on the back of the faster growth and underlined that most of the asset ...

Transmission of policy rate has been greater on deposits, shows RBI data

Among different bank groups, state-owned banks have seen a greater increase in interest rates on term deposits-both new and existing-compared to their private sector peers

IBA to take up overseas banks' local data storage issue with RBI

"RBI had advised all system providers to ensure that the entire data relating to payment systems operated by them is stored in a system only in India," said a source familiar with the development

Major rejig: New secretaries for expenditure, corporate affairs appointed

Manoj Govil has been appointed as the secretary in the Department of Expenditure in the Ministry of Finance

Idea behind SROs is not to make them more regulatory: Anish Mashruwala

The idea of SRO is not to make it more regulatory but it's more decentralisation from the regulator to allow a larger sense of how a particular product in the industry should develop, he says

Adoption of AI spotlights biz to invest in proactive cybersecurity defences

Rapid adoption of Artificial Intelligence has powered growth but opened avenues for cybercriminals to misuse AI for sophisticated attacks, Kaspersky has said spotlighting the need for businesses to invest in proactive cybersecurity defences to meet new-age challenges. Kaspersky, a global cybersecurity and digital privacy company, said it has been infusing AI across its products and harnessing AI models to counter threats and safeguard users by making technologies more resistant to new and evolving forms of cyberattacks. From leveraging ChatGPT for writing malicious software and automating attacks against multiple users to misusing AI programmes to track users' smartphone inputs (potentially capturing messages, passwords, and bank codes) - cybercriminals are using AI in novel ways, the company cautioned. Citing the data for 2023, the company said it protected 220,000 businesses across the globe and prevented around 6.1 billion attacks with its solutions and products. During the same

Banking laws Bill extends tenure of cooperative banks' directors to 10 yrs

Changes to banking laws have a consumer tilt; no proposal that would allow change in ownership pattern of PSBs

Allocated Rs 633 cr for ECL provisions: Jammu & Kashmir Bank MD & CEO

This journey over the past two and a half years has been remarkably engaging and incredibly interesting for me, Baldev Prakash, Jammu & Kashmir Bank, MD & CEO

Tamilnad Mercantile Bank submits fresh names for MD, CEO post to RBI

At present, around 93 per cent of its business comes from the retail, agriculture, and micro, small and medium enterprise (MSME) sectors

Most fintech, banking apps tap into users' location, other information

Calling them "most sensitive permissions," the report on currency and finance has highlighted that fintech apps often collect personal data, potentially invading users' privacy