Page 12 - Banks

UBS gets regulatory approval to fully own China securities joint venture

The approval wraps up a series of complicated transactions following UBS's merger with Credit Suisse, including the former's sale of a 36.01% stake in Credit Suisse Securities in China to BSAM

SBI's C S Setty elected as chairman of Indian Banks' Association

SBI's C S Setty was on Friday elected as the chairman of Indian Banks' Association. The managing committee of the industry lobby grouping elected Setty, the SBI chairman, to lead the body till the next annual general meeting, as per an official statement. It has also elected Union Bank of India's managing director and chief executive A Manimekhalai, Punjab and Sind Bank's MD and CEO Swarup Kumar Saha, and Bank of Bahrain and Kuwait's country head and India CEO Madhav Nair as deputy chairmen. Private sector lender Karur Vyasya Bank's MD and CEO B Ramesh Babu has been appointed as the honorary secretary of the association, the official statement said. The last AGM of the body was held earlier this month in the financial capital, and was also attended by Department of Financial Services secretary M Nagaraju.

New RBI order on holiday: Know if banks are open in your state on March 31

Insurance regulator and Income Tax department issue orders to keep offices open on March 29, 30, and 31

Axis Bank, JP Morgan roll out anytime dollar payments for clients

This is the first instance where an Indian company will have the flexibility to make or receive dollar payments at any time

Bank holidays on March 27, 28: Banks to close for up to four days this week

Banks will remain closed for up to four days this week due to national and regional holidays. Check the complete schedule here

Punjab & Sind Bank fixes floor price for QIP at Rs 40.38 per share

State-owned Punjab & Sind Bank on Monday fixed the floor price of Rs 40.38 per share to raise funds through QIP. The bank has proposed to raise Rs 2,000 crore through Qualified Institutional Placement (QIP). The board in its meeting approved and adopted the preliminary placement document dated March 24, 2025, together with the application form in connection with the issue, Punjab & Sind Bank said in a regulatory filing. The board also approved the floor price of the issue at Rs 40.38 based on the pricing formula as prescribed by Sebi regulations, it added. The bank may offer a discount of not more than 5 per cent on the floor price so calculated for the issue, it said.

Business correspondents to undergo digital audit and fresh training

A working committee is likely to be formed to do the job, and will be headed by one of the managing directors of State Bank of India (SBI)

Banks set to make treasury gains in Q4 FY25 as bond yields soften

The yield on the 10-year benchmark government bond fell 8 basis points in the previous week - the steepest weekly decline in four months, since November 30, 2024 - to settle at 6.62 per cent

Fraud detection has to improve to protect banks: BCT Digital CEO

With the rise of digital and contactless banking, fraudsters have found newer ways to exploit vulnerabilities, said Jaya Vaidyanathan, chief executive officer (CEO) of BCT Digital

Business of trust: IndusInd Bank events raise concerns over governance

While the bank has tasked an external agency to review the issues, reports suggest that discrepancy arose on account of derivatives positions taken by the bank to hedge its foreign-exchange exposure

IndusInd bank raises additional Rs 2,750 crore via CDs, says CCIL data

On Monday, the lender had raised Rs 11,000 crore by issuing CDs across a range of maturities, with coupon rates varying between 7.80 per cent and 7.90 per cent

Parliamentary panel raises concern over dip in CASA ratio for banks

The standing committee also emphasised that by fostering a secure banking ecosystem and prioritising technological advancements

EXIM Bank recruitment 2025: Check vacancies, salary, and steps to apply

EXIM Bank issued a recruitment drive for various roles including Management Trainee, Deputy Manager, and Chief Manager. The online application process will be held between March 22 and April 15, 2025

Customer first: Banks must focus on customer service across the system

Given that India has seen a significant adoption of digital payments, the quality of service in the banking and financial sector has become extremely important

Public sector banks must plan timely capital raise, says M Nagaraju

Each bank has its own unique set of challenges, manpower, systems, capabilities, and infrastructure

New India Bank case: Accused surrenders before EOW; six arrested so far

The Economic Offences Wing (EOW) of Mumbai police on Sunday arrested a wanted accused in the Rs 122-crore embezzlement at New India Cooperative Bank, an official said on Sunday. Arunachalam Ullahanathan Maruthuvar (62), who had been absconding for the past month, surrendered at the EOW office in south Mumbai in the morning. He was produced in a court which remanded him in police custody till March 18, the EOW official said. This is the sixth arrest in the case. According to police, Arunachalam received nearly Rs 30 crore of the misappropriated funds from the prime accused Hitesh Mehta, the cooperative bank's former general manager and head of accounts. The anti-financial crime unit on Friday arrested the wanted accused and civil contractor Kapil Dedhia from Vadodara in neighbouring Gujarat. A court here has remanded him in police custody till March 19. Police said Rs 12 crore of the embezzled fund was credited to his account. According to the police, Rs 122 crore was siphoned off

Bank's asset quality to deteriorate moderately in F26 and FY27: Moody's

Funding tightness to abate as loan-to-deposit ratio stabilizes

IndusInd Bank's net worth to take 2.35% hit over account discrepancies

The Mumbai-based lender said the net worth impact emerged from internal derivative trades, which were not in compliance with rules enforced by the Reserve Bank of India from April 2024

NCLAT upholds NCLT's approval for delisting of ICICI Securities

Shareholders of ISec will receive 67 shares of ICICI Bank for every 100 shares held. Shares of ISec last closed at ₹795, while that of ICICI Bank ended at ₹1,215

RBI may have concerns about my leadership, says IndusInd MD & CEO

Discrepancies in derivatives portfolio to have 2.35% impact on the lender's net worth