Indian Banking Sector

Kotak Mahindra Bank appoints Bhavnish Lathia as Chief Technology Officer

The post fell vacant following resignation of Milind Nagnur, effective February 15, who was the chief operating officer and chief technology officer, due to personal reasons

Non-bailable warrant issued against New India Bank's ex-chairman, his wife

A local court has issued a non-bailable warrant (NBW) against New India Cooperative Bank's former chairman Hiren Bhanu and his wife Gauri Bhanu, who fled the country just before the Rs 122 crore embezzlement case came to light last month, officials said on Wednesday. The Economic Offences Wing (EOW) of the Mumbai police, which is investigating the case, has so far arrested seven persons in connection with the case, an official said. "The bank's former chairman and vice chairman, Hiren Bhanu and his wife Gauri Bhanu, are wanted accused in the case. But they left the country on January 26 and February 10 respectively," he said. As both are out of country and locating them was necessary for the probe of the case, a 'Blue Corner Notice' has been issued against them earlier, he said. "While investigating the case, the EOW had submitted an application before the court about issuing a non-bailable warrant against the Bhanu couple. Accordingly, the court has issued a non-bailable warrant .

Banking system in India remains strong despite market concerns

The RBI assures stability as IndusInd Bank addresses a one-time discrepancy, reinforcing the resilience of India's banking sector amid strong liquidity and regulatory oversight

Banks cut high-cost deposits, low-yielding loans to protect margins

Bankers said that, given the pressure on interest margins, many lenders have reduced dependence on high-cost bulk deposits and scaled down exposure to low-yielding credit to NBFCs

New India Coop Bank had capacity for Rs 10 cr, book showed Rs 122 cr: EOW

New India Cooperative Bank's Prabhadevi branch in Mumbai had a capacity to keep Rs 10 crore at a time, but the cash in hand book showed there was Rs 122.028 crore in the safe on the day of RBI inspection, police officials said on Tuesday, citing probe into a fraud case. Mumbai Police's Economic Offences Wing (EOW) is probing a Rs 122-crore embezzlement at New India Cooperative Bank and has arrested three persons, including two former top executives of the lender, so far. The RBI inspection team visited the corporate office branch of the bank at Prabhadevi on February 11, where they found Rs 122 crore cash was missing from the safe, an official said. The balance sheet at the corporate office branch was showing Rs 133.41 crore at the bank's safe at Prabhadevi and Goregaon branches, and Rs 122.028 was the figure on the balance sheet of Prabhadevi branch on that day, he said. During the probe, the EOW found the capacity of the safe at the corporate office to store cash was only Rs 10 .

Green loan expansion can boost loan portfolios of Indian banks: IIM study

The IIM Lucknow study seeks to address this gap by designing a framework to identify non-carbon-intensive sectors and assess their impact on loan portfolio quality

Banks offering more green loans have better financial stability: IIM study

Banks that have a greater proportion of green loans experience long-term improvements in financial stability, according to research by the Indian Institute of Management (IIM), Lucknow. The study published in the prestigious Finance Research Letters journal found that expansion of non-carbon intensive lending can improve the core of loan portfolios of Indian banks. The findings underscore the strategic importance of sustainable lending in the Indian banking system. A green loan is a form of financing that enables borrowers to use the proceeds to exclusively fund projects that make a substantial contribution to an environmental objective. According to Vikas Srivastava, ONGC Chair Professor, IIM Lucknow, despite global initiatives to create uniform frameworks for green lending, there are significant gaps in providing incentives, particularly in developing economies such as India. "Most Indian banks are heavily dependent on lending to carbon-intensive industries as there is no clear

NaBFID to raise Rs 30,000 cr during Q4 for funding infra projects: MD

NaBFID Managing Director and Chief Executive Officer Rajkiran Rai G has said it is planning to raise Rs 30,000 crore during the ongoing quarter for funding infrastructure projects in the country. "We were expected to touch Rs 1 lakh crore of (loan) sanction this year (FY25)... we are very close to that, and we will be crossing that target this year," he told PTI in an interview. On the disbursement side, he said, "We are expected to disburse about Rs 60,000 crore this financial year. That target seems a bit challenging because of documentation and other processing." In the infrastructure segment, there is always a gap between sanction and disbursement. National Bank for Financing Infrastructure and Development (NaBFID) raised about Rs 5,000 crore via a 15-year paper. "We are continuously raising money, but it will be linked to disbursements. We may raise up to Rs 30,000 crore this quarter, depending on the requirement," he said. NaBFID, set up in 2021, is a specialised developmen

Banks to have 'bank.in' internet domain name, non-banks 'fin.in': RBI

In order to check cyber security threats, the Reserve Bank on Friday decided that Indian banks will have exclusive internet domain name 'bank.in' and non-bank financial entities 'fin.in'. Unveiling the last bi-monthly monetary policy of this fiscal year, RBI Governor Sanjay Malhotra said registrations for 'bank.in' will commence from April 2025, and going forward 'fin.in' will be introduced. The decision is aimed at enhancing trust in the financial sector, he said adding the increased instances of fraud in digital payments are a significant concern. "To combat the same, the Reserve Bank of India (RBI) is introducing the 'bank.in' exclusive Internet Domain for Indian banks," he said. The initiative aims to reduce cyber security threats and malicious activities like phishing, and streamline secure financial services, thereby enhancing trust in digital banking and payment services. The Institute for Development and Research in Banking Technology (IDRBT) will act as the exclusive ...

SBI looks to raise around Rs 5K crore via perpetual bonds before end of Feb

The country's largest lender could have a call option at the end of either five years or 10 years on the issue

Banks loan growth drops for 6th month in Dec as tighter lending curbs weigh

The data showed that banks' credit increased by 12.4 per cent year-on-year last month, slower than the 15.6 per cent rise in December 2023

Union Budget FY26: Key banking amendments in the spotlight, yet again

Among the most-watched moves pertaining to the banking sector will be possible changes to the RBI Act, the Banking Regulation Act and the Banking Companies Act

Banks to NBFCs, customer complaints rise as redressal system slows down

Complaints about mobile or e-banking form majority of those received by the RBI ombudsman against banks

Markets Today: Economic Survey, US GDP; Nestle, ONGC, Q3; Dr. Agarwal's IPO

Back home, at 6:40 AM, GIFT Nifty futures indicated a strong start, up 71 points at 23,489

Banks must adapt to technology quickly, ensure resilience: DFS Secy

Financial Services Secretary M Nagaraju on Friday said banks must adopt rapid technological changes, modernise core systems, and prioritise compliance and risk measures to ensure resilience amid global challenges. In a virtual keynote address at the IBA's 20th Annual Banking Technology Conference, Expo & Citations - 2025 conference on Future Ready Banking for Viksit Bharat, he emphasised that technological advances like DPI and Unified Lending Interface are empowering financial inclusion. "Banks must adapt to rapid changes, modernise core systems, and prioritise compliance and risk measures to ensure resilience amid global challenges," he said. Scaling up globally competitive banks, closing credit gaps, and expanding insurance and pension coverage are critical to realising the vision of Viksit Bharat by 2047, he said. The financial services secretary also highlighted India's evolving financial landscape, driven by innovations like JAM, UPI, and ONDC. Emphasising AI/ML's role, he .

Barclays sees heightened competition in India from Japan's biggest banks

Japanese banks including Mitsubishi UFJ Financial Group Inc and Sumitomo Mitsui Financial Group Inc. are targeting India and the US for expansion

South Indian Bank posts highest-ever quarterly profit of Rs 342 crore in Q3

The bank's operating profit in Q3FY25 was up by 9.4 per cent at Rs 528.84 crore, as against Rs 341.87 crore in the third quarter of the previous financial year

Bank stocks steer Nifty 50, Sensex to green territory, Kotak leads rally

The rupee, too, strengthened slightly, settling at 86.57 per dollar, compared with 86.61 on Friday

Karur Vysya Bank Q3 results: Net profit grows 20.39% to Rs 496 crore

The bank's net interest income (NII) increased by 7.79 per cent to Rs 1,079 crore compared to Rs 1,001 crore in the same period last year

Budget 2025: Banks expect incentives to boost deposit mobilisation

The Indian Banking Association has asked for certain tax rebates on the savings account in order to nudge customers to retain funds in this account