Page 50 - Banks

All Silicon Valley Bank deposits safe, new backstop for banks created: US

SVB's collapse into FDIC receivership - the second-largest US bank failure in history behind Washington Mutual in 2008 - came suddenly on Friday, following a frenetic couple of days

Govt sees negligible impact from Silicon Valley Bank failure: Officials

Startup sector may be face liquidity issues; exposure of Indian banks to SVB yet to be ascertained

Silicon Valley Bank crisis unlikely to affect Indian banks, say analysts

Have exposure to bigger banks only, not small ones: SBI chairman Khara

SVB fallout impact: Govts across globe stepping in to look for solution

Meity may meet advisory group on e-commerce and cyber laws; meanwhile US lawmakers rush to sell SVB assets and make portion of uninsured deposits available to account holders as early as Monday

Silicon Valley Bank fallout: Paying staff first challenge for start-ups

Y Combinator says over 100,000 jobs within its community at risk

Fallout from SVB collapse spreads around world from London to Singapore

Founders are warning that the bank's failure could wipe out startups around the world without government intervention

FDIC, US Fed discuss fund to backstop deposits if more banks fail

The hope is that setting up such a vehicle would reassure depositors and help contain any panic

SVB chief pressed US lawmakers to weaken bank risk scrutiny 8 years ago

Eight years before the second-largest bank failure in American history occurred this week, the bank's president personally pressed Congress to reduce scrutiny of his financial institution

Mandatory for banks to record transactions of politically exposed people

Centre has amended the Prevention of Money-laundering Rules, 2005, making it mandatory for banks and financial institutions to record financial transactions of politically exposed persons

SVB rival banks benefit as startups withdraw funds to seek new home

A few banks benefited from some startups that withdrew funds from the now-failed Silicon Valley Bank

Indian shares slide as IT firms fear high interest ahead of US jobs data

IT stocks lost 0.66%, falling for the third session in a row due to worries about rate hikes in the United States and Europe, where a majority of their clients are based

State Bank of India raises Rs 3,717 cr from its third AT1 bond sale

The nation's largest lender State Bank of India on Wednesday raised Rs 3,717 crore through additional tier 1 bond sale. The bank said this is the third Basel III compliant additional tier 1 (AT1) bond sale and the latest issue was closed at a coupon rate of 8.25 per cent. The proceeds will be used to augment its additional tier 1 capital and overall capital base of the bank and also for strengthening capital adequacy in accordance with RBI guidelines. These perpetual bonds have a call option after 10 years and every anniversary thereafter. On the investor interest, the bank said the issue attracted an overwhelming response from investors with bids of Rs 4,537 crore from 53 bids from provident and pension funds and insurance companies and was oversubscribed by about 2.27 times against the base issue of Rs 2,000 crore. Given the high response, the bank has decided to accept Rs 3,717 crore at a coupon rate of 8.25 per cent payable annually. This represents spread of 66 bps over the

Moody's downgrades long-deposit ratings of five Pakistani banks amid crisis

Moody's Investors Service has downgraded the long-term deposit ratings of five Pakistani banks to Caa3 from Caa1, The Express Tribune reported

Valuation comfort remains with PSU banks despite sharp gains

The entire sector has beaten the Nifty (up 6 per cent in the same period) comfortably - the Bank Nifty, which includes both private and PSU banks, is up 16.6 per cent

What Axis Bank's acquisition of its consumer biz means for Citi's customers

Product such as home loans and credot/debit will undergo no change; but in case there are changes, the customer will be duly informed

Banks request RBI to include more long-term bonds in H1 FY24 borrowing

Banks expressed reservations about floating rate bonds in next year's borrowing

Indian Banks Association considers 5-day work week for bank employees

If the proposal gets IBA's nod, it will be sent to the finance ministry and subsequently to the Reserve Bank of India's (RBI) for approval

Green finance: Taxonomy, a clear legal definition keenly awaited

Even as the central bank is drawing up taxonomy for this emerging business, the degree of awareness at bank board level could be the weakest link yet

Indian Bank ties up with Toyota Kirloskar Motor to offer vehicle financing

Public sector Indian Bank has inked a pact with automaker Toyota Kirloskar Motor to offer vehicle financial options to its customers, the bank said on Tuesday. The tie-up would offer various initiatives including 90 per cent on-road funding with no processing fee, foreclosure and party payment charges to prospective customers. The development will now enable bank's customers, especially in the rural and semi-urban markets to buy their vehicles from Toyota Kirloskar Motor, the city-headquartered Indian Bank said in a statement here. "This is yet another step by Indian Bank to enhance banking experience of our customers. As a bank, with pan-India presence, especially in rural and semi-urban areas. This association will further boost our auto-financing segment," Indian Bank executive director Imran Amin Siddiqui said. "Digitization of loan procedures has significantly reduced the turn around time for retail loan. We are keen to provide our customers comfort and convenience, by alignin

Bank credit grows at 16.1% to Rs 134.17 trillion in Feb 10 fortnight

About a month ago (January 13 fortnight), credit growth stood at 16.5 per cent YoY