Page 26 - Banks

Banks' outstanding loans rose 20.2% on year in two weeks to March 22: RBI

Outstanding loans rose 1.21 trillion rupees ($14.54 billion) to 164.35 trillion rupees in the two weeks to March 22

Certificates of deposit issuances by banks up 34% in FY24, hit Rs 9.56 trn

The top five issuers accounted for approximately 60 per cent of the total fundraising in February

Tier-1 capital raise by banks halves to Rs 17,516 crore in 2023-24

Healthy capital ratios, high interest rates, weak appetite lead to lower issuances

Union Bank raises Rs 42,000 cr from DIFC to fund overseas business growth

State-owned Union Bank of India on Wednesday said it has raised USD 500 million (about Rs 4,200 crore) from foreign markets to fund overseas business growth. The fund was arranged by Dubai International Financial Centre (DIFC), Dubai Branch, Union Bank of India said in a regulatory filing. A syndicated term loan of USD 500 million (USD 400 million and Green Shoe of USD 100 million) would be drawn in two tranches with tenure of 3 and 5 years. The first tranche of USD 100 million was drawn on Wednesday, it said. This is the maiden syndicated term loan raised by Union Bank of India at an overseas centre, it added.

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

There are a total of 14 days of bank closures in April 2024, including national holidays, every second and fourth Saturday and each Sunday.

Bank Holidays in April 2024: Here's the full holiday list for April month

In the month of April, banks will remain shut for 12 days. If you are planning to visit banks this month, here is the full holiday list you should know

Banks' GNPAs set to improve further to 2.1% by FY25: Care Rating

The gross non-performing assets (GNPA) of the Indian banking system are set to improve further to up to 2.1 per cent by the end of FY25, a report said on Friday. GNPAs are likely to come at 2.5-2.7 per cent in FY24 and will improve further to 2.1-2.4 per cent by the end of FY25, domestic rating agency Care Ratings said in the report. It can be noted that the Reserve Bank of India (RBI) began the comprehensive exercise in the middle of the last decade by instructing banks to classify certain stressed assets as NPAs so that the balance sheets represent a true picture. The rating agency also flagged a list of downside risks, which may result in its estimate not coming true, including a material weakening in asset quality due to the elevated interest rates, the impact of regulatory changes, a tighter liquidity environment and global issues. It said GNPAs surged to 11.2 per cent in FY18 from 3.8 per cent in FY14 due to the AQR process of 2015-16, which pushed banks to recognise NPAs and

China's property crisis ripples through banks as bad loan ratios creep up

Bank of Communications Co. reported Wednesday that its property bad loan ratio jumped to 4.99 per cent at the end of last year from 2.8 per cent a year earlier

Govt updates list of banks authorised to import gold, silver in FY25

The government on Thursday updated the list of banks authorised to import gold and silver during 2024-25. As per the list, 11 banks, including HDFC Bank and ICICI Bank, have been authorised by the Reserve Bank of India to import gold and silver for 2024-25 with effect from April 1. The authorisation will be valid up to March 31 next year. "List of banks authorised to import gold/silver...has been updated," the Directorate General of Foreign Trade (DGFT) said in a public notice. Three banks -- Indian Overseas Bank, Punjab National Bank, and Union Bank of India -- have authorised by the RBI to import only gold for 2024-25 with effect from April 1 this year. Gold imports rose 38.76 per cent to USD 44 billion during April-February this fiscal. However, silver imports dipped 11.53 per cent to USD 4.62 billion during the period.

Banks closed for 14 days in April; Check the state-wise list of holidays

On the account of public holidays, regional holidays, and regular closures on second and fourth Saturdays and all Sundays, banks will remain in various states across the month

S&P Global downgrades outlooks on 5 US banks to 'negative' on CRE exposures

The ratings agency downgraded the outlook for First Commonwealth Financial, M&T Bank, Synovus Financial, Trustmark and Valley National

RBI eases recently tightened regulations for banks' investments in AIFs

This was to ensure the rules were uniformly implemented among lenders and to address stakeholders' concerns, the Reserve Bank of India (RBI) said in a release

Ethiopia's biggest bank says 80% cash lost during system glitch recouped

Ethiopia's biggest bank says it has recouped nearly 80 per cent of the cash it lost during what it says was a glitch in its system that allowed customers to take out more money than they had in their accounts. Abe Sano, president of the Commercial Bank of Ethiopia, told reporters on Tuesday that around USD 14 million was withdrawn or digitally transferred during the error. The value of the transactions ranged from 9 cents to USD 5,350, he said. The amount lost initially was reported as USD 40 million. Nearly 15,000 people have voluntarily returned funds that were taken illegally, the bank said in a statement. But 567 individuals haven't yet returned money that is not theirs. On Tuesday, the bank posted their names and account details online, in an apparent attempt to shame them into giving it back. The total amount remaining is not significant for the bank, but if this money is not fully recouped, it sends the wrong message, Abe said. News of the glitch spread on social media on Ma

Will take action on those involved in bank irregularities: PM to Sarasu

Prime Minister Narendra Modi spoke to the BJP candidate in Kerala's Alathur Lok Sabha constituency, Prof T N Sarasu, on Tuesday and assured her that strict action would be taken against those involved in the alleged irregularities in the cooperative banks in the southern state. Party leaders said Modi, who called Professor Sarasu, inquired about her campaign progress in the Alathur seat. The seat is reserved for the Scheduled Castes, and the candidature of Sarasu, a retired college principal, was announced on Sunday. During her conversation with the prime minister over the phone, Sarasu raised the issue of irregularities reported from certain cooperative banks in Kerala and sought his intervention to punish the guilty. Responding to this, Modi said, "I am happy that, as the candidate, you are taking the issue of the people and common man's problems. It is a good thing for any public servant. I am happy to hear that you are raising the issue." He said he had heard about it and had

Public sector banks' dividend payout may exceed Rs 15,000 crore in FY24

Public sector banks (PSBs) are likely to pay a dividend in excess of Rs 15,000 crore for the financial year ending March 2024 on the back of improved profitability, according to sources. In the first three quarters of the current financial year, all 12 PSBs earned a total profit of Rs 98,000 crore, only Rs 7,000 crore less than the entire FY23. PSBs earned the highest-ever aggregate net profit of Rs 1.05 lakh crore during FY23 compared to Rs 66,539.98 crore earned in 2021-22. As a result, the government earned a dividend of Rs 13,804 crore, 58 per cent higher than the Rs 8,718 crore paid out in the previous financial year. Since the profit in the current financial year would be much higher than the previous year, so will be the dividend payout to the government, sources said. Going by the past record, the dividend payout for FY24 should be in excess of Rs 15,000 crore, they added. Earlier in January, the Reserve Bank, in its draft guidelines, proposed to allow banks having net ..

Holi 2024 Bank Holiday: Bank to remain shut in some states, check list here

Holi 2024 Bank Holiday: India will celebrate Holi on March 25, 2024, and banks in most of the states will remain closed on this day. Check the full list of remaining holidays in the country

Govt invites feedback on draft accessibility guidelines for banking sector

The government has invited feedback and suggestions on its draft accessibility guidelines for the banking sector with the aim to ensure that banking services are accessible to all, including persons with disabilities. The draft rules by the Department of Disabilities Affairs covered various aspects of physical infrastructure, automated machines, digital platforms, and training initiatives within the banking sector. By providing detailed specifications and requirements, the guidelines said it aims to create an environment that is welcoming and accommodating to individuals with diverse abilities. According to the draft guidelines, banks are required to ensure that their information or service counters are accessible to all users. This includes provisions for wheelchair users, individuals of short stature, and those with sensory disabilities. Specific measures such as tactile guiding indicators, adjustable counter heights, and hearing enhancement systems are mandated to facilitate ..

Banks should pass reasoned orders while declaring entity defaulter: HC

The Bombay High Court has said banks and financial institutions should pass reasoned orders before declaring an entity or person a wilful defaulter under the Reserve Bank of India's Master Circular. A division bench of Justices B P Colabawalla and Somasekhar Sundaresan, in its order on March 4, noted that wilful defaulters are ostracized from access to the financial sector and hence, the discretion given to banks under the circular should be exercised with caution as mandated by the RBI. "Banks and financial institutions that seek to invoke the Master Circular to declare occurrence of wilful default, must share the reasoned orders passed by its Identification Committee and Review Committee," the HC said. The bench was hearing a petition filed by Milind Patel, former joint managing director of IL&FS Financial Services Limited (IFIN), challenging an order passed by the Union Bank of India in February 2023 declaring the firm and its promoters wilful defaulters under the 2015 Master ..

Banks' asset quality to improve in next six months as economy grows: Survey

FICCI, Indian Banks' Association survey had 23 respondents represent 77% of industry by asset size

Banks to remain open on March 31 despite Easter Sunday: Here's why

The RBI has designated 33 agency banks to remain operational on March 31. Take a look at the full list