Page 21 - Banks

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

CRISIL analysis: Three things that could curb bank credit growth this year

The RBI's increase in risk weights on bank lending to non-banking financial companies (NBFCs) and on unsecured loans has pruned credit growth in these segments

RBI's Financial Stability Report flags rising NPAs, global economic risks

Indian banking sector stable, but global debt and economic volatility loom large

Will banks remain closed on January 1, 2025 New Year? All you need to know

Banks across the country are expected to remain closed on January 1 due to the New Year celebration. However, online banking services will remain active

Market outlook 2025: IT, chemicals, banks among top sectors to invest

Experts suggest investors should expect moderate returns as the market adjusts to global macroeconomic challenges

Karur Vysya bank expands footprint with 4 new branches in Tamil Nadu

Private sector Karur Vysya Bank has inaugurated four new branches in Tamil Nadu, under its plan to strengthen presence, taking the overall branch network to 862, the bank said on Sunday. The Tamil Nadu headquartered bank had inaugurated 24 new branches in the current financial year. The four new branches were inaugurated in Madurai, Tiruppur, Krishnagiri and Chennai, a press release said here. The new branches would cater to provide all basic banking transactions and also to specific needs of customers and would also offer the entire spectrum of banking and financial services. Karur Vysya Bank as on September 30, 2024 reported a total business of Rs 1,76,138 crore and a net profit of Rs 932 crore. The net non-performing asset of the bank as on September 30, 2024 stood at 0.28 per cent, the release added.

SBI adds to record samurai loan boom with $197 million debt facility

Mitsubishi UFJ Financial Group Inc. is the lead bank of the deal, which will be raised in the Gujarat International Finance Tec-City

Banks compliant with Trai's new regulations on message traceability

According to senior public sector bank executives, all the mobile phone numbers are white-labelled for call centres, and compliances are in place as far as large commercial banks are concerned

Australian lender ANZ names former HSBC wealth chief Nuno Matos as new CEO

Hong-Kong-based Matos has served in several of HSBC's largest regions, including Europe and Latin America, and was among the internal candidates vying to take over as CEO of HSBC

RBI asks banks to collaborate with MuleHunter.AI to find mule accounts

The RBI on Friday asked banks to collaborate with its initiative MuleHunter.AI to weed out mule accounts which are used to commit financial fraud. A mule account is a bank account used by criminals to launder illicit funds, often set up by unsuspecting individuals lured by promises of easy money or coerced into participation. The transfer of funds through these highly interconnected accounts makes it difficult to trace and recover the funds. "Use of money mule accounts is a common method adopted by fraudsters to channel proceeds of frauds," Reserve Bank of India (RBI) Governor Shaktikanta Das said. Unveiling the December 2024 monetary policy, he said the RBI is currently running a hackathon on the theme 'Zero Financial Frauds' which includes a specific problem statement on mule accounts, to encourage development of innovative solutions to contain the use of mule accounts. Another initiative in this direction is the AI/ ML-based model called MuleHunter.AI, piloted by Reserve Bank ..

Goldman Sachs quits climate coalition for banks, biggest one to exit group

Goldman Sachs gave no explicit reason for its departure, but focused on its strategy for the future and a growing push by regulators to make sustainability efforts mandatory

Banks, matchmakers lend shoulder to self-funded wedding palanquin

Roll out accessible, flexible loans with revolving credit lines, overdraft facilities as wedding business gets bigger, grander

Allow use of non-financial transactions to decide a/c status: SBI to RBI

Current regulatory norms permit only credit and debit transactions to render an account operational.

Net growth in deposits higher than advances by Rs 5.68 trn between 2020-24

Deposit growth of Indian banks had been lagging behind credit growth since the fortnight ending March 25, 2022