Page 6 - Banks

Banks, NBFCs may tap overseas market as dollar bond spreads narrow

Following India's rating upgrade, in investment grade space, spreads have compressed by 10 - 15 bps while in high yield space spreads have compressed by 25 - 30 bps

ED attaches fresh ₹186 crore assets in bank fraud case against DHFL

Fresh assets worth about Rs 186 crore have been attached under the anti-money laundering law in an alleged bank loan fraud case against the Dewan Housing Finance Corporation Ltd (DHFL) and its promoters, the ED said on Tuesday. The assets provisionally attached under the Prevention of Money Laundering Act (PMLA) include 154 flats and movable assets in the form of receivables pertaining to 20 flats in Mumbai, the federal probe agency said in a statement. The total value of the attached properties is Rs 185.84 crore. An order was issued under the PMLA by the Mumbai zonal office of the agency on September 5, it said. The Enforcement Directorate (ED) case stems from a CBI FIR against DHFL, its promoters Kapil Wadhawan and Dheeraj Wadhawan, and others for allegedly cheating a consortium of 17 banks led by the Union Bank of India. The accused were involved in "siphoning off" and "misappropriation" of bank loan funds by "falsifying" the books of the DHFL and linked default of the bank ...

Banks betting on festive season, GST cut to boost credit growth in H2FY26

Banks are launching attractive loan offers, with credit growth expected to rise during the festive season and after GST cuts. Retail lending is set for significant growth in H2 FY25

CCI approves SMBC's 20% stake purchase in Yes Bank for $1.6 billion

SMBC in May had inked a deal to take a 20% stake in Yes Bank for $1.6 billion, making it the largest cross-border merger and acquisition deal in India's financial sector

SBI to raise up to $1 bn via 5-yr dollar bonds after India's rating upgrade

MUMBAI (Reuters) -State Bank of India plans to raise funds through the issuance of dollar-denominated bonds with a maturity of five years, three merchant bankers said on Tuesday, days after S&P Global Ratings upgraded India's sovereign credit rating for the first time in 18 years in August.

RBI imposes penalty of ₹44.70 lakh on Bandhan Bank over regulatory lapses

The Reserve Bank of India has imposed a penalty of Rs 44.7 lakh on Bandhan Bank for deficiencies in certain statutory and regulatory compliance. In a statement on Friday, the RBI said that a statutory inspection for supervisory evaluation of the bank was conducted with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why a penalty should not be imposed on it for its failure to comply with the said RBI directions. RBI said the bank paid remuneration in the form of commission to certain employees. Also, Bandhan Bank had carried out manual intervention through the back-end in respect of data of certain accounts and had not captured the audit trails/ logs of access with specific user details in the system. RBI, however, said the penalty is based on deficiencies in statutory and regulatory compliance and

Banks aid exporters amid US tariffs, S&P Global lifts India's rating, IDBI Bank privatisation & more

With the US imposing 50% tariffs from Aug 27, Indian banks are stepping in to support exporters, especially MSMEs, through cheaper loans, flexible repayment, export insurance.

Banks see thinning spreads, driven by credit dip, lower deposits, rate cuts

Growing competition in corporate and institutional credit as well as in home loans, and lower interest rates have also put pressure on lending margins

Credit to India Inc declines to 36% in 14 years, BCG report shows

Corporate credit share shrinks as firms tap bonds, private credit and markets; retail lending rises sharply, making balance sheets stronger and funding more diversified

J&K Bank names veteran banker S Krishnan as non-executive chairman

J&K Bank on Wednesday said its board has approved the appointment of S Krishnan as non-executive chairman of the bank for a period up to March 26, 2028. His appointment would be effective from the date of approval from the Reserve Bank of India (RBI), J&K Bank said in a regulatory filing. The bank's board, in its meeting held on August 25, took the decision in this respect, it said. Krishnan, currently an independent director on the board of Srinagar-headquartered bank, served as MD & CEO of state-owned Punjab & Sind Bank. Subsequent to superannuation and pursuant to the approval of the appointment by the RBI, Krishnan took charge as MD & CEO of Tamilnad Mercantile Bank in September 2022. Krishnan, a veteran banker with more than four decades of experience, is a postgraduate in Commerce and a qualified Cost Accountant.

Net-Zero Banking Alliance halts activities as global banks exit membership

The reality is NZBA "never truly challenged the fossil fuel-oriented business models of major banks," said Lucie Pinson, the founder of climate nonprofit Reclaim Finance

SBI asks regulator to allow banking industry to finance acquisitions

SBI Chairman also urged the private sector to commence investment for capacity expansion, as the government has already taken several steps to boost consumption

Veteran banker Rajiv Anand takes charge as CEO of crisis-hit IndusInd Bank

Anand, whose appointment was announced earlier this month, was previously deputy managing director at Axis Bank and held key management positions at leading global financial institutions

Sebi approval for LIC as IDBI Bank public shareholder after divestment

SEBI has approved reclassification of LIC as a public shareholder in IDBI Bank following strategic divestment, subject to curbs on voting rights and board representation

Bank-AI collab improves pricing, risk models: Philadelphia Fed's Jagtiani

Bank-fintech collaborations are allowing for more proper pricing and risk underwriting, said Julapa Jagtiani, Senior Economic Advisor and Economist at the Federal Reserve Bank of Philadelphia, on Thursday. Jagtiani was addressing a webinar on "Beyond Intuition: AI, Crypto, and Social Algorithms Shaping the Future of Finance", organised by Indian Institute of Management Bangalore (IIMB) Centre for Software and IT Management (CSITM). "When banks team up with vendors of AI solutions, we see more correct pricing of non-prime borrowers. Rather than pricing all as equally risky, AI differentiates who will default and who will not," said Jagtiani. The webinar was attended by more than 170 participants and included pre-eminent finance professionals from the United States, United Kingdom, and India. Apart from Jagtiani, the panel comprised Evelyn de Rothschild, Professor of Finance at Cambridge Judge Business School, Marina Niessner, Assistant Professor of Finance at Indiana University's ..

Advisory Board for Banking and Financial Frauds reconstituted for 2 year

Advisory Board for Banking and Financial Frauds, a panel to examine role of top bank officials or financial institutions in fraud cases, has been reconstituted for two years, with ex-CVC Suresh N Patel designated as its chairman. ABBFF, which functions as a 'Safety Valve' for bankers, has been reconstituted for two years with effect from August 21, 2025. The members of the board are Ravikant, a former secretary of the Department of Ex-Servicemen Welfare; Rajni Kant Mishra, a former director general of the Border Security Force; Alok Kumar Choudhary ex-MD of State Bank of India and Sarada Kumar Hota, former MD of National Housing Bank, a notification said. As per the terms of appointment, the chairman and members of ABBFF are eligible for re-appointment, subject to the condition that the total period of appointment as chairman and/or member should not exceed 4 years or 70 years of age, whichever is earlier, said the notification dated August 19. The board has been mandated to examin

Adani Group units secure $275 million offshore loans from global banks

Investors have grown more confident lending the Adani Group as it seeks to raise funds across the spectrum of its businesses

Low savings account interest rates fuel a rush to liquid mutual funds

Net new account openings swell to 220,000 in 2025

FinMin to meet CEOs of PSBs on August 20 to review Q1 performance

The finance ministry has called a meeting of heads of public sector banks (PSBs) on Wednesday to review the first-quarter financial performance. The meeting is scheduled to be chaired by Financial Services Secretary M Nagaraju. The review meeting on August 20 with public sector banks to assess the performance of the first quarter of 2025-26, according to sources. Led by State Bank of India (SBI), public sector banks, cumulatively, logged a record profit of Rs 44,218 crore in the first quarter of the current fiscal, with an 11 per cent year-on-year growth. All 12 public sector banks together made a profit of Rs 39,974 crore in the June quarter of FY25. The increase in profit in absolute terms was Rs 4,244 crore. Market leader SBI alone contributed 43 per cent to the total earnings of Rs 44,218 crore, as per the published numbers on stock exchanges. SBI logged a net profit of Rs 19,160 crore in Q1 FY26, 12 per cent higher than the same period of the previous fiscal. In terms of siz

The Karnataka Bank saga: A clash of egos and cultures in old private banks

Karnataka Bank was founded by a group of agriculturists, lawyers and businessmen, led by BR Vysaray Achar, to promote economic development in the South Canara region. It has no identified promoter