Page 7 - Banks

Banks park ₹1.7 trn at 7-day VRRR auction as banks roll over matured amount

The Reserve Bank of India's 7-day VRRR auction saw robust participation, with banks parking Rs 1.7 trillion, rolling over maturing funds. The auction's cut-off rate was 5.49%.

Indian Bank gets board's approval to raise ₹5,000 crore: MD Kumar

Indian Bank plans to raise ₹5,000 crore in FY26, with a focus on enhancing capital adequacy and introducing its own UPI app, IND-UPI. Net profit rose by 23.69% in Q1 FY26

Savings deposit rates of some PSBs at historic low, says RBI bulletin

Savings deposit rates of some public sector banks (PSBs) are prevailing at a historical low, since their de-regulation in 2011, according to the latest bulletin of the Reserve Bank of India (RBI). The weighted average domestic term deposit rates for fresh deposits has declined significantly for both PSBs and private sector banks. "Currently, the savings deposit rates of some PSBs are prevailing at a historical low, since their de-regulation in 2011," said an article published in the the RBI's July bulletin. In October, 2011, the RBI had deregulated the savings bank deposit interest rate, and allowed banks to determine the interest rate at their own. The rates on small savings schemes were kept unchanged by the government during the ongoing September quarter. The prevailing rates on these instruments are higher than the formula-based rates by 33-118 bps, the article said. It further said in response to the 100-bps reduction in the policy repo rate since February 2025, banks have .

J&K Bank Q1 FY26 results: Net profit increases 17% to Rs 485 crore

Jammu and Kashmir Bank on Friday posted a 16.7 per cent increase in net profit at Rs 484.84 crore in the April-June quarter of FY26. The bank had reported a profit after tax (PAT) or net profit of Rs 415.49 crore in the same period of the previous fiscal year, J&K Bank said in a statement. Net Interest Income (NII) during the reporting quarter grew 7 per cent year-on-year to Rs 1,465.43 crore, while the other income jumped 29 per cent to Rs 250.30 crore from Rs 194.10 crore recorded last year. Return on Assets (RoA) in the quarter improved to 1.17 per cent from 1.08 per cent a year ago, while Net Interest Margin (NIM) stood at 3.72 per cent as against 3.86 per cent recorded in Q4FY25. Bank's cost-to-income ratio also improved to 60.78 per cent YoY, it said. Operating profit witnessed a 13 per cent increase to Rs 672.84 crore from Rs 594.67 crore recorded in the corresponding period last year, the bank said. The bank's MD and CEO Amitava Chatterjee said that despite tough situation

New IRDAI chairman, private banks' retail loan growth, hiring at major commercial banks & more

The Centre has appointed Ajay Seth, recently retired finance secretary, as the new chairman of the Insurance Regulatory and Development Authority of India, 4 months after the position was left vacant.

₹25,000 cr QIP shows investor confidence, to boost credit growth: SBI chief

SBI chairman C S Setty on Wednesday said the Rs 25,000-crore capital raise through the qualified institutional placement (QIP) route is a vote of confidence on the country's largest lender and also the Indian economy. Speaking at a ceremony at the NSE to mark the the fund raise as India's biggest share sale ever, Setty said the capital will be deployed for asset growth. He also said that even before the QIP, the bank was in a position to support asset growth of up to Rs 6 lakh crore, but the fund raise will be of help for it. "This landmark equity issue is a vote of confidence in SBI's strong fundamentals, potential risk management and the customer centricity with the digital first approach," Setty said. Thanking the investors led by state-run life insurance behemoth LIC for the response to the issue, which received bids of over Rs 1.12 lakh crore and was over-subscribed by over four times, Setty also spelled out the revised capital levels. The common equity tier-I capital will ..

RBI cancels licence of Karwar Urban Co-op Bank over inadequate capital

The Reserve Bank on Wednesday said it has cancelled the licence of Karnataka-based The Karwar Urban Co-operative Bank as it does not have adequate capital and earning prospects. Consequently, the bank ceases to carry on banking business, with effect from the close of business on July 23, 2025. The Registrar of Cooperative Societies, Karnataka has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank, the RBI said in a statement. On liquidation, every depositor would be entitled to receive the deposit insurance claim amount of his/her deposits up to a monetary ceiling of Rs 5 lakh from Deposit Insurance and Credit Guarantee Corporation (DICGC). As per the data submitted by the bank, 92.9 per cent of the depositors are entitled to receive the full amount of their deposits from DICGC, RBI said. As of June 30, 2025, DICGC has already paid Rs 37.79 crore of the total insured deposits. Giving details, the RBI said the cooperative does not h

Kotak Mahindra Bank targets affluent clients with 'Solitaire' launch

According to the bank, the eligibility hinges on salaried individuals maintaining a relationship value of ₹75 lakh with the bank, and ₹1 crore for self-employed individuals

Top banks' fresh hiring slowed in FY25 amid moderation in business growth

Hiring by India's major commercial banks, including HDFC Bank, SBI, and Axis Bank, has declined significantly in FY25 due to slower growth, reduced branch expansion, and improved attrition rates

South Indian Bank Q1FY26 results: Net profit rises 10% to ₹322 crore

South Indian Bank on Thursday reported a 10 per cent rise in profit to Rs 322 crore during the first quarter. The Kerala-based bank had a net profit of Rs 294 crore in the same quarter of previous fiscal year. The total income rose to Rs 2,984 crore during the June quarter of 2025-26, from Rs 2,736 crore in the same of FY25, South Indian Bank said in a regulatory filing. Interest earned by the bank grew to Rs 2,362 crore as compared to Rs 2,314 crore in June quarter FY25. During the period, operating profit of the bank rose to Rs 672 crore as compared to Rs 508 crore in the same quarter a year ago. The bank's asset quality showed improvement as gross non-performing assets (NPAs) declined to 3.15 per cent of gross advances at the end of the June quarter from 4.50 per cent a year ago. Similarly, net NPAs, or bad loans, declined to 0.68 per cent as against 1.44 per cent in the year-ago period. Capital adequacy ratio of the bank rose to 19.48 per cent from 18.11 per cent in the same

Private sector bank chiefs take home hefty compensation cheques in FY25

Public sector banks' chiefs trail far behind, with the chairman of SBI, India's largest lender, earning a fraction of what private sector banks' chief executives make

JPMorgan profit beats analysts expectation; raises interest income forecast

The bank now expects about $95.5 billion of NII, or the difference between what it earns on loans and pays out on deposits, compared with an earlier estimate of nearly $94.5 billion

RBI Governor hints at allowing foreign banks to own 26% in Indian banks

RBI Governor Sanjay Malhotra says interest rate transmission is effective and hints at a policy to allow foreign banks to hold up to 26 per cent in Indian lenders

Citigroup profit beats analyst estimates, shares rise on buyback plans

Shares jumped 3.3 per cent after the bank announced it would buy back at least $4 billion in stock in the third quarter

Central bank expects FY26 inflation to be below 3.7%: Guv Malhotra

Annual retail inflation in India slowed to a more than six-year low of 2.10% in June, on the back of easing food prices, data showed on Monday

HDFC Bank CEO Sashidhar Jagdishan's plea to quash FIR adjourned to July 23

Bombay High Court adjourns hearing of HDFC Bank CEO Sashidhar Jagdishan's plea to quash an FIR lodged by the Lilavati Trust, with the investigation continuing under the Economic Offences Wing

Karnataka Bank appoints Raghavendra Bhat MD & CEO for three months

Bhat takes charge from 16 July following the resignations of Srikrishnan Sarma and Sekhar Rao, pending shareholder approval at the bank's upcoming annual general meeting

RBI to hold 3-day VRRR auction Tuesday to absorb ₹1 trillion liquidity

RBI to absorb ₹1 trillion via a three-day VRRR auction on Tuesday, aiming to manage surplus liquidity and align maturities with GST-related outflows

Banks' loan offtake gains pace at end of first quarter, shows data

Bank credit growth slowed further to 9.5% YoY in the fortnight ending June 27, with deposits growing at 10.1%, outpacing credit growth, data showed.

RBI to intensify scrutiny of bank auditors after governance lapses

With governance concerns at IndusInd and Karnataka Bank, RBI is expected to tighten its engagement with statutory auditors and examine the role of board sub-committees more closely