Page 55 - Banks

War for deposits will intensify

For most banks, the liability part of the balance sheet has been on autopilot, and the strategies have evolved around credit growth and recovery of bad loans. Now the story has to change

Raise credit penetration in 112 aspirational dists, FinMin tells banks

The Finance Ministry on Friday asked banks to further increase credit penetration in aspirational districts and ensure availability of at least one banking outlet within 5 km of all inhabited villages. Progress of 112 Aspirational Districts under Targeted Financial Inclusion Intervention Programme (TFIIP) was discussed in detail during a review meeting of Lead District Managers (LDMs) of aspirational districts and State Level Bankers' Committee (SLBC) convenors chaired by banking secretary Vivek Joshi. "Banks were also requested to run financial literacy camps in villages with the help of Panchayati Raj institutions to further improve the performance of financial inclusion schemes. A reward and recognition programme for performing districts and SLBCs was also discussed," said an official release. Joshi appreciated the efforts of SLBCs and LDMs in furthering the drive for financial inclusion in the country and requested LDMs and SLBC convenors to utilise the next six months with ...

RBL Bank's Q3 results: Net profit jumps 34% YoY on firm NII growth

The net NPA ratio was at 1.18 per cent as on December 31, lower than 1.26 per cent a quarter ago and 1.85 per cent a year ago

Union Bank of India reports two-fold jump in Q3 profit at Rs 2,245 cr

Union Bank of India on Friday reported two-fold jump in standalone profit at Rs 2,245 crore for third quarter ended December 2022 helped by decline in bad loans

SBI raises Rs 9,718 cr via second tranche of infrastructure bonds at 7.70%

This is the second fund-raising since early December when it had mopped up Rs 10,000 crore via infra bonds

IndusInd Bank posts bigger-than-expected Q3 net jump of 68% to Rs 1,959 cr

Analysts were expecting a profit of Rs 1,859 crore, according to Refinitiv IBES data

Central Bank Q3 net rises 64.16% at Rs 458 cr on improved margins

State-owned lender reports first full quarter after exiting regulator's Prompt Corrective Action regime

RBI guidelines may prompt J&K Bank to dilute promoter shareholding

The union territory of Jammu & Kashmir has 64.5 per cent stake in J&K Bank while UT of Ladakh has about 4.5% stake

Increased provision on CET1 for loan loss to be phased out: RBI paper

The RBI will introduce an ECL approach for loan loss for banks, as compared to the incurred loss approach at present, one year after announcing the final guidelines

RBI prior approval now a must for picking up over 5% stake in banks

RBI has defined "major shareholding" as "aggregate holding" of five per cent or more of the paid-up share capital or voting rights in a banking company by a person

Financial conditions to be tighter due to Fed's decadal-high rates: Crisil

Liquidity conditions will also not return to surplus as seen in the pandemic years, which will maintain fundamental pressure on domestic interest rates

Bank of Maharashtra to raise up to Rs 1,000 crore from share sale in Q4: MD

As per the Sebi norms, listed entities are required to have at least 25 per cent public shareholding

Bank of Maharashtra Q3 PAT jumps two-fold to Rs 775 cr due to asset quality

State-run Bank of Maharashtra (BoM) on Monday reported a two-fold jump in its standalone profit after tax (PAT) at Rs 775 crore in the quarter ended December 2022 due improved asset quality.

Privatisation and debt are on the radar of bankers

Banks were challenged in 2022 by the sluggish growth in deposits, which have not kept pace with credit. One reason is that deposits, unlike debt mutual funds, do not offer any tax breaks

India lets banks use face recognition, iris scan for transactions: Rpts

The Indian government is allowing banks to verify individual transactions that exceed a certain annual limit using facial recognition and an iris scan in some cases, in a bid to reduce fraud

Credit growth of scheduled commercial banks tapers off in December

Banks extended loans of almost Rs 1.5 trillion during the fortnight ended December 30

Banks want CRR, SLR, priority sector exemption for sovereign green bonds

Suggest green masala bond to attract foreign investors

Financialising the economy

The sector is expected to outperform

Fino Payments Bank ups interest rate on savings deposit to 5%

In addition to the hike in interest, the bank's customers will also get monthly interest pay-outs on their balances.

Banks raise record Rs 91,500 crore in debt capital in FY23 so far: Report

Amid tight liquidity condition, banks have issued a record quantum of bonds, with gross issuances hitting an all-time high of Rs 91,500 crore so far this fiscal, and are likely to close the financial year with around Rs 1.4 lakh crore. Gross bond issuances by banks is estimated to reach Rs 1.3-1.4 lakh crore this fiscal as debt sales have already hit record high of Rs 0.915 lakh crore, surpassing the previous high of Rs 0.8 lakh crore in FY17, Icra Ratings said in a note on Monday. The agency said this alternate resource of fund raising by banks is on the back of widening credit-deposit gap. With credit demand continuing to outdo deposits throughout this fiscal, the overall gap between deposits and credit growth widened substantially. Incremental credit expansion stood at Rs 12.7 lakh crore, while deposit accretion continued to trail at Rs 8.9 lakh crore, till December 16, 2022. To bridge this gap, banks have been relying on various sources of funding such as refinance from financia