Page 8 - Banks

₹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

Financial bidding for IDBI Bank expected to conclude by October 2025

"All things have at the high pace and IDBI bank will be completed by October 2025," said the official.

Kotak Mahindra Bank shares rally on robust loan, deposit growth in Q1

In its quarterly business update, the bank reported 14 per cent year-on-year (YoY) and 4.2 per cent sequential growth in net advances to Rs 4.44 trillion in Q1FY26

Corporate 'fraud accounts' pose tough challenges for banking system

SBI also reported former chairman of the group Anil Ambani to the Reserve Bank of India (RBI)

RRBs' IT integration likely to be completed by Sep 15: Nabard chairman

NABARD Chairman Shaji KV said on Monday IT integration of recently amalgamated Regional Rural Banks (RRBs) on the principles of 'One State One RRB' is expected to be completed by September 30. The amalgamation of RRBs on the principles of 'One State One RRB' became effective from May 1. This was aimed at improving scale efficiency and cost rationalisation. With this, now, there are 28 RRBs in 26 states and 2 UTs with more than 22,000 branches covering 700 districts. Speaking at a CII event, Shaji said that as of May 1, integration of all the RRBs at the state level has been done, and by September, the IT integration of RRBs is expected to be completed. The chairman said that NABARD (National Bank for Agriculture and Rural Development) is working on building a common digital infrastructure with RRBs. They are rolling out credit infrastructure and government data systems to reach rural populations. However, challenges like low internet bandwidth and awareness exist, but efforts ar

Dhanlaxmi bank shares climb 5% as Q1 deposits grow 14% YoY

At 01:40 PM, Dhanlaxmi Bank shares were trading at ₹30.72, up by 2.57 per cent on the National Stock Exchange