Page 10 - Indian Banking Sector

PNB hikes MCLR, Union Bank withdraws festive discount on vehicle loans

A PNB executive said there is intense competition for mobilising resources for which banks have and are raising deposit rates, increasing the cost of funds

RBI turns down Federal Bank MD & CEO extension request for one year

Bank need to submit fresh proposal of 2 candidates in order of preference

Central Bank of India's gross advances rise to Rs 2.4 trn, up 14.91% Y-o-Y

The bank also registered an increase in the rate of deposit growth at 9.52% (Y-o-Y). While its deposit base stood at Rs 3.4 trillion in Q3FY23, it expanded to 3.7 trillion in Q3FY24

Karur Vysya Bank biz grows at 14.74% to stand at Rs 1.58 trn for Q3FY24

The lender announced that ICICI Prudential Asset Management Company Limited (ICICI AMC) received approval from the Reserve Bank of India (RBI) to increase its stake

Indian Overseas Bank unveils savings account portability facility

Public sector undertaking Indian Overseas Bank has introduced savings account portability online, an initiative aimed at catering to customers who move to different locations for their career or education and find it cumbersome to relocate their home bank accounts to their current location. The facility, being available online, helps customers avoid the laborious process of filling up endless forms manually and cuts short the days of waiting for the account transfer to take place. "As part of our continuous endeavours toward making our customers' banking journey more efficient and easier, we are introducing Savings Account Portability Online." the bank's Managing Director and CEO Ajay Kumar Srivastava said, in a release issued here. "We are committed to staying at the forefront of technology with innovative solutions that cater to the evolving needs of the customers in today's digital age," he added. To initiate an account transfer, customers need to log into the bank's website ...

Banks raise over Rs 1 trn through CDs in Dec amid liquidity crunch

CDs, which are short-term debt instruments, are utilised by banks to raise funds

Banks bid Rs 3 trn against notified amount of Rs 1.25 trn in VRR auction

The deficit liquidity in the banking system widened to Rs 2.7 trillion on Thursday, according to data by the central bank

PNB board clears equity raise upto Rs 7,500 cr in FY25 to aid biz growth

Options open for institutional placement, follow-on issue

RBI defers implementation of norms on penal charges levied by banks

Initially issued in August, these norms were set to be implemented from January 1, 2024

Credit growth to dip to 12-13% in FY25 from 16.5% in early Dec 2023: ICRA

Tight liquidity, hike in risk weights to impact bank loan growth

Bad assets of banks decline multi-year low to 0.8% in Sept: RBI report

The Reserve Bank on Thursday said net non-performing assets ratio of banks declined to a multi-year low of 0.8 per cent at the end of September 2023 and the country's domestic financial system remains resilient. "The resilience of the non-banking financial companies (NBFCs) sector improved with CRAR at 27.6 per cent, GNPA ratio at 4.6 per cent and return on assets (RoA) at 2.9 per cent, respectively, in September 2023," said the RBI's Financial Stability Report (FSR). The gross non-performing assets (GNPA) ratio of banks also declined to a multi-year low of 3.2 per cent, it said. The report reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability and the resilience of the Indian financial system. It further said that the capital to risk-weighted assets ratio (CRAR) and the common equity tier 1 (CET1) ratio of scheduled commercial banks (SCBS) stood at 16.8 per cent and 13.7 per cent, respective

RBI approves CS Rajan's appointment as Kotak Mahindra Bank chairman

Rajan, an IAS officer of the 1978 batch, was appointed as an Independent Director on the Board of Kotak Mahindra Bank, with effect from October 22, 2022

Further strengthen balance sheets even if financials remain strong: RBI

Gross NPAs lowest in a decade; tighter norms on unsecured loans for stability

Banks bid 3.2 times against notified amount of Rs 50,000 cr at VRR auction

Market participants speculate that this might be the last VRR auction conducted by the central bank as the liquidity condition is expected to improve in a few days due to government spending

State Bank of India hikes retail, bulk deposit rates up to 50 bps

The term deposits upto Rs two crore are categorised as retail deposits and those above it are considered as bulk deposits

Banks' asset quality improves to decadal high at end-Sept: RBI report

The central bank said the banking system and the non-banking financial companies (NBFCs) remain resilient, backed by high capital ratios, improved asset quality and robust earnings growth

S K Kalra appointed interim MD & CEO of North East Small Finance Bank

The Reserve Bank of India and the board of NESFB have approved the appointment of Kalra, a former managing director of Andhra Bank

The future of finance

Strategic sense about the forces reshaping banking

SBI slows down unsecured retail loans, to focus on healthy growth

Chairman Khara says corporate loan sanction pipeline is at Rs 4.7 trn

The good and not so good of Indian banking story

The drop in provisions is a healthy sign - 21 of 32 listed banks have less than 1% net NPAs. But their CASA and NIM are under pressure