Page 60 - Banks

Banks plan to ramp up penetration via ATMs, branches: CMS Info Systems CEO

'At sector level, large banks, both public-sector as well as private, need to increase their reach'

McLeod Russel India lenders likely to discuss Carbon Resources proposal

The contours of the proposal are like this: of an outstanding bank debt of Rs 1,650 crore, the upfront payment being offered is Rs 1,245 crore

Transferring 18 NPAs to bad bank by October-end a tall order: Bankers

There is no way that lenders can bypass established regulatory norms including the step of inviting counter bids under Swiss challenge method, they said

RBI introduces compliance function for UCBs in Tier-3 and 4 categories

The compliance function would ensure strict observance of all statutory and regulatory requirements. UCBs with deposits of more than Rs 1,000 crore fall under Tier-3 & 4 categories

Be ready to meet the credit demand: FM Nirmala Sitharaman to banks

The finance minister said Indian banks have to plan for the Amrit Kaal. And for that, they have to become digitally savvy, especially the public sector ones

Banks ensure their systems speak to each other for customer service: FM

Finance minister Nirmala Sitharaman on Friday urged banks to ensure that their systems speak to each other so that they are able to serve customers in a better way. The minister, while delivering the keynote address at the 75th annual meeting of the Indian Banks Association (IBA), said many a time customers are forced to transact with multiple lenders due to which it is important that the systems of one bank talks to that of other. She termed such a mechanism as an artificial wall erected by lenders to protect their turf. The finance minister also underlined the need for ensuring that banking personnel converse in the local language so that their customers are served better. Banks need to ensure that their systems speak to each other so that the common man banking with multiple lenders is not inconvenienced. Also, another key element of serving the customer better and more effectively is conversing in the local language, Sitharaman said. She also said it is essential that banks inv

State Bank of India ready to open rupee trade account with Russian banks

A vostro account is opened by a domestic bank with a foreign correspondent bank to act as an agent for the domestic bank

Bank of Baroda raises interest rates on deposits below Rs 2 cr by 0.20%

Bank of Baroda has raised the interest rates on retail term deposits of below Rs 2 crore by up to 0.20 per cent. The new rates have come to effect from September 13, 2022. The one-year tenor domestic and NRO (Non-Resident Ordinary) term deposit will offer an interest of 5.50 per cent, up from 5.30 per cent earlier, the bank said on Wednesday. Deposits for above 400 days to 3 years will earn an interest of 5.50 per cent, up from 5.45 per cent. For above 3 years to 10 years, the new rate is 5.65 per cent, up by 0.15 per cent. For senior citizens, there will be a higher rate of interest for one-year deposits at 6 per cent from 5.80 per cent earlier. Likewise for other tenors applicable on resident senior citizens, the new rates will range in 6-6.65 per cent as against 5.95-6.50 per cent. Among others, the bank has also raised the interest on 'Baroda Tax Savings Term Deposit' for 5 to 10 years tenor to 5.65 per cent, up by 0.15 per cent. For senior citizens, the deposits will earn up

Banks exempt from 10% TDS on one-time loan settlements, waivers: CBDT

Issue of bonus and rights shares too will not require tax to be deducted under a section introduced in the Union Budget

BS Number Wise: The increasing dominance of bank-owned mutual funds

Related entities acting as distributors account for a higher share of assets in such fund houses

Buoyed by demand, banks want more long-term gilts, but RBI may not yield

Apart from long-term bonds, the market participants also requested the central bank to reduce issuance of floating-rate bonds and cap sizes of weekly primary auctions to Rs 30,000 crore

Banks, FMCG: Time to bet on domestic economy-related sectors, say experts

Banks, Auto, FMCG, Hospitals, Domestic Industrials, and Discretionary may continue to outperform the 'Export + Cyclical'-oriented themes

Govt, RBI propose action plan for facilitating special rupee accounts

According to the action plan, once banks receive applications from corresponding banks, they have to undertake internal scrutiny and send it to the RBI for approval

'Think of the worst': RBI Governor Das nudges banks to raise capital

Inflation has peaked, expect CPI at 5% in April-June, he says

YES Bank hikes interest rate on NRE, FCNR fixed deposits as norms are eased

RBI has taken several steps such as exempting banks from maintaining CRR and SLR on incremental NRE and FCNR (B) deposits, in order to attract dollars and protect the rupee

Day after Q1 GDP data, a spate of forecast cuts by banks, institutions

Moody's cut its forecast to 7.7%, from 8.8%, citing dampening economic momentum in the coming quarters on rising interest rates, uneven monsoon, and slowing global growth

ICICI Bank, Bandhan Bank, Karnataka Bank increase MCLR across tenors

Loan rates going up after central bank's rate-setting committee hiked benchmark policy rate by 50 basis points

China's biggest banks hit by margin squeeze amid bad loan pressure

China's $52 trillion banking industry is facing an increasingly difficult year, with its largest lenders cutting loan rates while bad debt is piling up amid a property crisis

Most Indian banks offer worst customer experiences on mobile apps: Report

Most Indian banks are falling behind customers' changing needs on their mobile apps, doing too little to help customers understand their spending and debts, a new report has revealed

Here's a full list of bank and school holidays in Sept 2022; Check details

Banks and schools might be closed for the first three days of September. Why bank holidays are called bank holidays? Read this detailed article to know the number of holidays in the month of September