Page 15 - Banks

Tamilnad Mercantile Bank draws up road map for biz, tech transformation

Bank takes on board McKinsey, Deloitte and Oracle to realise goal

Banks, importers seen lapping up India central bank's $5 billion FX swap

Central bank will conduct a 6-month dollar/rupee buy-sell swap, one of its many planned measures aimed at injecting liquidity worth about Rs 1.5 trillion ($17.33 billion) into the banking system

Indian Bank announces Q3 FY25 results: Net profit rises 32% to Rs 2,910 cr

Asset quality and 'efficiency parameters' help business growth, says Chennai-based lender

Shivalik Small Finance Bank offers 9.30% interest to senior citizens on FD

Lender offers interest rate of 8.80% on fixed deposits for general citizens and 9.30% on FDs for senior citizens on select tenures

No GST on penal fees for loan non-compliance, says finance ministry

The RBI in its circular had directed regulated entities to replace "penal interest" with "penal charges" for borrowers who fail to comply with loan terms

Banks must collaborate, not compete on technology front: RBI DG Rabi Sankar

He further stated that as technology, especially artificial intelligence (AI), rapidly advances, the banking sector must adapt

Banks NPAs may dip to 2.4% by March despite stress in retail loans: Fitch

Robust growth, recoveries & write-offs to offset rise in slippages

Restrictions on bancassurance may not be a great step: HDFC Life's Padalkar

Bancassurance is a partnership between banks and insurance companies to sell insurance products through bank branches

Budget 2025-26: Banks expect steps for deposit mobilisation, tax breaks

Tax incentives will help sector as loan growth slows down, say experts

IDBI Bank Q3FY25 results: Net profit rises 31% to Rs 1,908 cr, NII up 23%

The net interest margin (NIM), a measure of banks' profitability, improved by 45 bps to 5.17 per cent during the quarter under review compared to 4.72 per cent in the same quarter last year

Banks, fintechs embark on profitable pilgrimage at Maha Kumbh Mela

Amid a crisis in deposits, banks hope to leverage the biz opportunities, with state govt projections estimating that event could generate Rs 25,000 cr in revenue and a Rs 2 trillion economic spinoff

Goldman boosts CEO pay by 26% to $39 mn, lines up five more years at helm

The latest bonuses are an effort by Goldman's board to retain the CEO and COO as a senior leadership team, the company said in the filing

Use '1600xx' number series to call customers for transactions: RBI to banks

The RBI on Friday asked banks to use only the 1600xx' phone numbering series to call customers for transactional purposes with a view to preventing financial fraud. It further said that for promotional purposes, banks and other regulated entities (REs) should use only the '140xx' numbering series for the prevention of financial frauds perpetrated using voice calls and SMS. Banks and other regulated entities (REs) have also been asked to monitor and clean their customer database. The proliferation of digital transactions, while offering convenience and efficiency, has also led to a surge in frauds, a pressing concern underscoring the need for concerted action, said a Reserve Bank circular to REs. The mobile number of a customer has emerged as a ubiquitous identifier, instrumental in the account authentication and verification process, receiving sensitive payment communication, such as OTPs, transaction alerts, and account updates. "The mobile number, however, can also be misused by

RBI issue revised guidelines for inoperative accounts, unclaimed deposits

Purpose is to assist bank customers and consolidate operational instructions on inoperative accounts

China likely to cut pay by half for staff at its top 3 financial regulators

Staff at the People's Bank of China (PBOC), National Financial Regulatory Administration (NFRA) and China Securities Regulatory Commission (CSRC) will see total income slashed by about hal

Bank holidays 2025: Are banks closed on Jan 13 and 14 for Lohri, Sankranti?

The January 2025 bank holiday calendar is out, and this year's Lohri and Makar Sankranti festivals, which fall on January 13 and 14, respectively, are designated as holidays

Bank Holiday on Lohri 2025: Will banks be closed on Jan 13? Details here

Bank Holiday on Lohri 2025: During holidays, while banks may be closed, several banking services such as ATMS and online banking will remain available

Recovery agents are in demand as banks' unsecured loan stress rises

In July 2024, the total strength of outsourced staff in the BFSI (banking, financial services, and insurance) space was 77,000, out of which 6,000 were recovery agents

Bank officers' union calls for two-day nationwide strike on February 24-25

The trade union representing the supervisory cadre of bank employees said this decision follows its 102nd Executive Committee Meeting held on January 6

Wall Street's top banks just quit a once popular net-zero alliance

JPMorgan Chase & Co., the largest US bank, looks to be next in line