Page 20 - Banks

Market correction may drive deposit growth for banks: SBI MD Tewari

Tewari said that the deposit and credit gap is expected to correct next year as per the SBI's research

MUFG Bank expects over 25% growth in India biz; to focus on large cos

Shashank Joshi, MUFG's deputy chief executive officer and head of global corporate and investment banking in India, said the bank has an exposure of about $15 billion in India

YES Bank removes financial market head Amit Surekha with immediate effect

Sources in the bank said the development does not have any bearing on the financial aspects of the bank. "It was a human resources department decision," a source said

Bank staff unions to raise old pension restoration issue with IBA

Banks, represented by IBA, and UFBU, representing employees and officers, had signed an MoU for wage revision in Dec 2023 and had agreed to continue discussions on residual matters, including pensions

Bank of China Prez Jin resigns for personal reasons with immediate effect

The state-owned lender said its board had approved Chairman Ge Haijiao to serve as acting president, according to a filing released by the bank on Sunday

Pak seeks $4 bn loan from West Asian banks to meet financial obligations

Cash-strapped Pakistan is in talks with banks in the Middle East to borrow approximately USD 4 billion to meet its external financial commitments for the current fiscal year, as part of the USD 7 billion Extended Fund Facility (EFF) currently pending for IMF's approval. Finance Minister Muhammad Aurangzeb and his team had a virtual meeting with Dr Adnan Chilwan, Group CEO of Dubai Islamic Bank, on Thursday, the Dawn newspaper reported on Friday. On Wednesday, a similar interaction was held with Mashreq Bank President and Group CEO Ahmed Abdelaal. Both meetings had been arranged to discuss the economic outlook and explore investment opportunities in Pakistan. For the current fiscal year, Pakistan has pitched about USD 20 billion in foreign borrowing in the budget, besides another USD 3 billion rollover from the UAE that was reported separately for the balance of payments. With this much borrowing, Pakistan's reserves are estimated to grow to about USD 19-20 billion by the end of the

Bandhan Bank to make tailored products for women to raise customer base

Private lender Bandhan Bank on Thursday said it plans to raise the customer base of women by launching products specifically tailored for them. The bank launched a women-specific debit card in collaboration with Mastercard with facilities like accident insurance cover and discounts on locker rentals among others. The bank also launched a loyalty programme, 'Bandhan Delights', where customers across the bank can earn reward points. Managing Director and CEO (interim) of Bandhan Bank Ratan Kumar Kesh said that women had always played an important part in the journey of the lender which started as micro-finance institution (MFI). "With the launch of Avni debit card, women customers will have access to numerous benefits associated with this specific savings account," he told reporters. With a total customer base of around 3.49 crore customers, 73 per cent of which are women at 2.56 crore. Kesh said that this would help lower the cost of funds and increase the CASA ratio. Rajinder Ku

Amid slow deposit growth, PSBs urge govt to keep cash balances with them

Move to help lenders to gain low cost deposits

RBI asks banks to monitor credit-deposit gap to avoid liquidity issues

Indian banks' loans rose 13.7% as of July 26 from a year earlier, while deposits grew 10.6%, latest provisional data from the RBI showed

IDBI Bank increases interest rates on Utsav FD Scheme to peak 7.85%

Deposits with 444-day tenure will earn 7.85 per cent interest per annum, while those opting for a 375-day term can enjoy a 7.75 per cent annual return

Banks need to align credit and deposit growth, says RBI Bulletin

Pressure on NIM cited, upside risk to headline inflation flagged

Amid deposit mobilisation issues, Canara Bank on expansion mode: MD Raju

Canara Bank chief executive and managing director K Satyanarayana Raju on Saturday said here that the bank is concentrating on expanding its business by launching new branches as deposit mobilisation has become a challenge in India nowadays. The chief executive noted that the bank launched 150 branches in fiscal 2023 '? 24 and is in the process of opening another 250 in FY25. "Because deposit mobilisation has become a big challenge for bankers nowadays in India, we have started now expanding the branches regularly," Raju told PTI on the sidelines of inaugurating a regional office in West Godavari district headquarters Bhimavaram. He said during the merger of Syndicate Bank with Canara Bank in 2020, as many as 1,300 branches of eithers lenders were shut down. In the Telugu states of Andhra Pradesh and Telangana, the chief executive officer said 22 new branches will be opened in the current fiscal. Out of the bank's total business of Rs 23 lakh crore, he said the Telugu states with

Create land banks, ensure good governance to woo investors: PM to states

He appealed to the industry to improve the quality of India's products, asking them to 'design in India, design for the world' and make 'Indian standard'

Independence Day 2024: Banks shut today; here's full August holiday list

In addition to banks, the Indian stock market will also remain closed today on account of India's 78th Independence Day

China bank lending tumbles more than expected on tepid credit demand

Chinese banks extended 260 billion yuan ($36.26 billion) in new yuan loans in July, down nearly 88% from the previous month and also missing analysts' forecasts

Ease in perpetual bond valuation norms set to revive market, say investors

Banks had slowed issuing the notes as the 2021 valuation norm change hurt appetite. In January this year, they had sought a relaxation

Banks offer up to 9% interest on FDs; check detailed rates of various banks

Fixed deposit rates are directly affected by the change in repo rate. Small finance, private, public, and foreign banks hike fixed deposit rates up to 9% annually, providing lucrative options for save

Neo Group raises $47.6 million led by MUFG Bank, Euclidean Capital

The capital raised will be used to expand the company's wealth management division and support its asset management business

Banks should offer innovative products, service to garner deposits: Das

However, the governor did not give any specific instructions as far as interest rates on deposits are concerned

RuPay credit card on UPI to earn equal rewards like other cards from Sept 1

The RuPay credit card issuing banks must abide by the contents of the circular by September 1, 2024, according to the NPCI