Page 24 - Banks

You may have to pay more for ATM withdrawals as operators seek hike in fees

The Confederation of ATM Industry has approached the RBI to hike the ATM interchange fees by Rs 2

IBA to ask RBI to not alter capital requirement for infra projects: Report

If the RBI's proposal is implemented as is, "the impact will be very modest", Girishkumar Kadam, senior vice president and group head - corporate ratings at ICRA, said at a media briefing

State Bank of India plans to raise up to $3 billion via debt in FY25

Several state run-lenders, including Canara Bank, Punjab and Sind Bank and Punjab National Bank , plan to raise funds via debt this fiscal year

Banks need to revise plans to deal with credit and deposit growth gap: Das

Banks need to re-strategise their business to deal with the persistent gap between credit and deposit growth, RBI Governor Shaktikanta Das said on Friday. He also said that further actions on moderating growth in unsecured loans could be taken, if required. In November last year, RBI had flagged certain concerns on excessive growth in the unsecured retail loans and over-reliance of NBFCs on bank funding. "Recent data suggests that there is some moderation in these loans and advances. We are closely monitoring the incoming data to ascertain if further measures are necessary," he said while announcing the bi-monthly policy. "The message is to convey that RBI is watchful of every aspect of financial sector especially in the banking sector. We are agile, we are watchful and if and when some further measures are required, we will come," he said during an interaction with reporters. The Reserve Bank increased risk weights on unsecured consumer credit and bank credit to NBFCs on Novembe

Indian Overseas Bank sets up dedicated branch to serve budding startups

Public sector Indian Overseas Bank has set up an exclusive branch to serve startups and budding entrepreneurs in the city. The branch inaugurated by top officials on Thursday would offer a suite of financial products and services. Indian Overseas Bank has planned to open five more startup branches nationwide. Marking the inaugural of the Startup Exclusive Branch, the city-headquartered bank launched 'IOB Startup Current Account' and credit scheme 'IOB Pragati' for financing startups. "Start-ups are the cornerstone of innovation and job creation in our economy. By establishing this dedicated branch, IOB aims to remove financial obstacles and empower entrepreneurs to bring their visions to fruition," the bank's Managing Director and CEO Ajay Kumar Srivastava said. "The launch of this startup branch is a significant milestone in our journey to support the growth of the startup ecosystem," he said. The startup exclusive branch has entered into a memorandum of understanding with severa

MoD inks MoUs with 4 banks to onboard them as 'SPARSH' service centres

The Defence Accounts Department (DAD) of the Ministry of Defence has signed MoUs with four banks to onboard them as SPARSH service centres across 1,128 branches of these banks in the country, officials said. The System for Pension Administration (RAKSHA) or SPARSH is a web-based system for processing pension claims and crediting the pension directly into the bank accounts of defence pensioners without any external intermediary. DAD has signed Memorandums of Understanding (MoUs) with the Bank of India, Canara Bank, Central Bank of India and Utkarsh Small Finance Bank in New Delhi to onboard them as SPARSH service centres across 1,128 branches of the four banks, the defence ministry said in a statement. The MoUs will provide last-mile connectivity to pensioners, especially in remote areas where they do not have the technical wherewithal to log on to SPARSH. These service centres will become an interface for pensioners for SPARSH, providing an effective medium to update their profile;

Why small finance banks are in no hurry to become universal banks

The fear of rejection is real. Many of the SFBs are listed on the exchanges. They are aware that no new universal bank licence has been granted in the last 10 years

3 GMs to take charge of TMB operations after Sankarasubramaniam's exit

Krishnan had resigned from the post of MD and CEO of the Tuticorin-based bank, on September 28 last year, citing personal reasons

Banks' loans rise 19.5% in two weeks to May 17, deposits up 13.3%: RBI

Outstanding loans fell Rs 23,207 crore ($2.78 billion) to Rs 166.09 trillion in the two weeks to May 17

Govt should focus on infra, structural reforms for jobs: ADB's Mio Oka

India's economic growth has proven resilient post-COVID, even amidst global challenges, said Mio Oka

Two women worked half days for nearly a decade without getting caught

Author Chelsea M Cameron shared a true incident of how two women at her local branch worked half days for nearly 10 years before getting noticed

PhonePe launches secured lending platform with banks, fintech firms

Walmart-owned fintech firm says service will help 535 mn users on its platform

From ICICI to HDFC: S&P upgrades outlook on six Indian banks to positive

The rating agency said in a statement that India's banking system continues to ride the good economic growth momentum, well supported by recent structural improvements in the system

European Union banks seek RBI approval for third-party transaction model

Credit Agricole, Societe Generale, Deutsche Bank, BNP Paribas aim to resolve deadlock between their home authorities and Indian policymakers

How many bank holidays are there in June 2024: Check the full list here

There are a total of 8 days of bank closures in June 2024, including national holidays, every second and fourth Saturday and each Sunday

The 'default' path: PSBs classify Reliance Infrastructure's SPV as NPA

Recently, RBI proposed to increase standard asset provision requirements for project loans during the construction phase to 5% from 0.40% now

CBI arrests Dheerj Wadhawan in Rs 34,000 cr DHFL bank loan fraud probe

The CBI has arrested former DHFL Director Dheeraj Wadhawan in connection with the alleged defrauding of a 17-member lender bank consortium to the tune of Rs 34,000 crore, officials said Tuesday. Wadhawan, arrested from Mumbai on Monday night, was produced before a special court here which remanded him in judicial custody on Tuesday, they said. The former director of DHFL and his brother Kapil were earlier arrested in the case in on July 19, 2022, they said. The agency had filed a charge sheet against 75 entities including Kapil and Dheeraj on October 15, 2022. They were granted "statutory" bail from the special court on December 3, 2022, on the grounds that the investigation was incomplete and the charge sheet filed was piecemeal. This order was upheld by the Delhi High Court as well. The CBI had challenged the order in the Supreme Court, which set aside the bail orders noting that the Special Court as well as the High Court "committed serious error of law" in disregarding the leg

RBI lifts curb on boarding of new customers on Bob World app after 6 months

The RBI had imposed restriction on state-owned Bank of Baroda (BoB) on October 10, 2023 from onboarding new customers on its mobile app 'Bob World'

Commercial banks for 1-2% project finance provisioning; RBI proposed 5%

Industry sees short-term pain

Credit flow to moderate, corporate bond issuances to rise in FY25: ICRA

The incremental credit flow was also supported by the all-time high corporate bond issuances of Rs 10.2 trillion during the previous financial year