Page 24 - Banks

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

Muted treasury gains for banks in Q1 FY25 due to new investment norms

Under the new norm, banks must categorise bonds as HTM on a permanent basis, with the exception of 5% of the portfolio that can be withdrawn throughout the year

Allocated Rs 633 cr for ECL provisions: Jammu & Kashmir Bank MD & CEO

This journey over the past two and a half years has been remarkably engaging and incredibly interesting for me, Baldev Prakash, Jammu & Kashmir Bank, MD & CEO

Discouraging retail play in F&O may help banks attract more deposits: Khara

Regulatory moves discouraging retail investors' derivative market bets may help the banking system garner the much-needed deposits, SBI Chairman Dinesh Kumar Khara has said. Khara said the budget announcements like the tweaks on the short-term and long-term capital gains will not lead to much gains from a deposit accretion perspective. "F&O (future and options) kind of things are being discouraged for the retail (investor) by the regulator. Those who are resorting to such kind of an instrument, they might come back to the banking system," Khara told PTI over the weekend. It can be noted that concerns over losses incurred by 90 per cent of investors in the derivative trades have led to fears of household savings being blown in speculation rather than being deployed for productive purposes among policymakers. As per capital markets regulator Sebi, retail investors lost Rs 52,000 crore in such activity in FY24 alone which necessitates a clampdown. Sebi has come up with a seven-point

Small banks' digital payment services affected in cyberattack on tech firm

Ransomware attack on C-Edge Technologies on Wednesday prompts NPCI to security review

Bank of Baroda Q1 results: Net profit rises 9.5% at Rs 4,458 crore

Sequentially, the profit declined from Rs 4,886 crore in Q4FY24. Bank's stocks closed 0.94 per cent lower at Rs 253.85 on Wednesday

Bank holidays in August 2024: Here's the national and state-wise list

In total, banks will be closed for 13 days in August 2024

CSB Bank Q1 results: Net profit drops 14% to Rs 113 cr as provisions rise

The provisions for non-performing assets rose 273 per cent to Rs 20 crore from Rs 4 crore in Q1 FY24

Axis Bank Q1FY25 results: Net profit increases 4% to Rs 6,035 crore

The bank's net interest income (NII) increased 12 per cent year-on-year (Y-o-Y) and 3 per cent sequentially to Rs 13,448 crore in Q1FY25, aided by steady growth in advances

Sustaining good times: CEA Nageswaran for more gap between NPA cycles

Asset quality improved across all significant sub-sectors within the industrial sector, barring vehicles and transport equipment

Muharram 2024 holiday: Banks, stock market, schools shut today; know more

Muharram is a public holiday in India, leading to the closure of banks, schools, and government offices

Banks to equity fundraise Rs 40,000 crore in H2FY25 to boost balance sheets

State-run banks Punjab National Bank and Bank of Maharashtra are leading the fundraising with both seeking Rs 7,500 crore each

Banks to be closed on July 17 for Muharram in these states: Check details

Customers can still use ATMs, online banking, mobile apps, bank websites, net banking to access banking services

Goldman Sachs profit more than doubles in June quarter, beats expectations

The resilience of the U.S. economy has given corporate executives the confidence to pursue acquisitions, debt sales and stock offerings

HDFC Bank, JPMorgan Chase: Top 25 global banks' m-cap hits $4.11 trn in Q1

The combined market-capitalisation (market-cap) of the top 25 banks globally rose 5.4 per cent quarter-on-quarter (QoQ) in the April - June 2024 period (Q1-FY25)

RBI permit banks to use ratings of Brickwork for loans up to Rs 250 cr

The Reserve Bank of India on Wednesday permitted banks to use ratings by Brickwork Ratings India Private Limited for loans of up to Rs 250 crore. The RBI, in October 2022, asked banks and other regulated entities not to obtain any fresh ratings from Brickwork Ratings India. The Certificate of Registration granted to Brickwork Ratings India as a Credit Rating Agency (CRA) was cancelled by market regulator Sebi in October 2022. After a review of the October 2022 circular, the RBI on Wednesday permitted banks to use the ratings of the CRA for risk weighting their claims for capital adequacy purposes, subject to certain conditions. "In respect of fresh rating mandates, the rating may be obtained from the CRA for bank loans not exceeding Rs 250 crore. In respect of existing ratings, the CRA may undertake rating surveillance irrespective of the rated amount till the residual tenure of such loans," it said. The Reserve Bank has also issued another circular, tweaking norms related to ...

Four PSU banks present dividend cheques worth Rs 6,481 cr to govt

Four public sector banks, including Canara Bank and Indian Bank, on Wednesday presented dividend cheques worth Rs 6,481 crore to Finance Minister Nirmala Sitharaman for financial year 2023-24. "Smt @nsitharaman receives a dividend cheque of Rs 2,514.22 crore for FY 2023-24 from Shri Debadatta Chand, Managing Director & CEO -@bankofbaroda," the finance ministry said in a post on X. Similarly, a dividend cheque of Rs 1,838.15 crore was handed over by Canara Bank MD and CEO K Satyanarayana Raju. Chennai-based Indian Bank paid a dividend cheque of Rs 1,193.45 crore for 2023-24. Bank of India too paid a dividend of Rs 935.44 crore and the cheque was presented by its MD and CEO Rajneesh Karnatak. In addition, Mumbai-based financial institution EXIM Bank presented a dividend cheque of Rs 252 crore for 2023-24.

Sensex tumbles over 900 pts intraday: Why are stock markets falling today?

The NSE Nifty50 fell 1.19 per cent or 291 points, reaching a low of 24,141.80 levels

Commercial banks turn cautious on lending to smaller microfinance players

Lenders wary after recent RBI guidelines on higher risk weighting for unsecured loans