Page 12 - Indian Banking Sector

Bank credit to NBFCs grows 22% in Oct, exposure to sector at Rs 14.8 trn

The RBI norms on an increase in risk weights exclude bank loans to housing finance companies or bank loans backed by priority sector loans (PSL)

November sees highest issuances of certificates of deposit in FY24

In November, banks issued CDs worth Rs 75,884 crore

Pace of bank credit to retail declined to 18% in October, shows RBI data

The month of October is marked by festive season demand and also the start of the busy season of the financial year

RBI's new risk-weight rules likely to spur co-lending by banks, NBFCs

The RBI recently decided to revise the risk weight norms for NBFCs to 125 per cent from 100 per cent

DLAI appoints Hemachandra, Prasad as independent directors to board

Fintech companies believe an SRO can consolidate multiple stakeholders on the back of a framework of common standards

NBFCs' contagion concerns

Reserve Bank of India's decision to increase risk weights on unsecured consumer loans and bank funding has dealt a double blow to non-banking financial companies

Biz trajectory remains intact, committed to achieving targets: RBL Bank CEO

Our bank had a total capital adequacy ratio of 17.07 per cent and Tier-I (entirely CET1) of 15.15 per cent as on September 30, 2023 (inclusive of profits for the half year), he says

'Upskill or cross-skill': Cybersecurity skill gap hobbles banking sector

Recently, UCO Bank reported an IMPS (Immediate Payment Service) fraud in which Rs 820 crore was credited to some account holders of the bank without a debit from any other bank

Deposits safe, RBI confident of fixing Abhyudaya Co-op Bank's governance

The multi-state cooperative lender, which was established in 1965, was under the regulatory watch for about two years, sources said

Tamilnad Mercantile Bank finalises three candidates for MD and CEO post

It was at the end of September that the bank's MD and CEO, Krishnan Sankarasubramaniam, resigned from the post, citing personal reasons

Risk weight hikes by RBI: Maintaining credit score now more crucial

If you're finding it difficult to secure a personal loan or credit card, be prepared to offer some collateral

Fusion MicroFinance plans to cut its bank funding share to 55-60%

The first focus for the Gurugram-based BSE listed lender is to bring down the share of bank funding in resources to 76-77 per cent in the near term

Technical snag hits UCO Bank's IMPS; impact yet to be ascertained

As a precautionary measure the bank has made the IMPS channel offline

Fintech lending set to surpass traditional by 2030 for mid-small income

India's fintech industry has been growing over the past few years on the back of the emergence of several fintech start-ups

Majority of CISOs in financial services sector experience gaps: Report

The report said that 76 per cent of CISOs polled witnessed the aforementioned challenge

Uco Bank Q2FY24 results: Net profit declines 20.4% to Rs 402 crore

The operating expenses, including staff expenses, grew by 16.3 per cent Y-o-Y to Rs 1,582 crore in Q2FY24

Unity Small Finance Bank Q2 results: Net profit jumps 155% to Rs 138 cr

Unity Small Finance Bank on Friday reported a net profit of Rs 137.73 crore in the quarter ending September 2023, up 155 per cent from Rs 53.97 crore in the year-ago period. Unity Small Finance Bank Limited is a scheduled commercial bank, promoted by Centrum Financial Services Ltd. The total income rose to Rs 360.5 crore from Rs 210.46 crore in the July-September quarter of 2022-23, the bank said in a release. Its gross non performing assets (NPA) was 5.5 per cent in the September quarter of the current fiscal, as against 56.29 per cent in the year-ago period. Similarly, net NPA fell to 0.43 per cent from 5.95 per cent in the September quarter of the last fiscal. The bank also reported that its net income rose by 115 per cent in the first half of this fiscal to Rs 515 crore on account of increased outreach to customers across products and geographies. At end-September, Unity Bank had 137 branches. The bank is focused to grow its retail presence during the second half of 2023-24

HDFC Bank revises Regalia CC lounge access program, to depend on spending

On reaching the quarterly milestone, the customers are eligible for just two complimentary lounge access vouchers. Post which, the access will depend on the credit card spending of the cardholders

Tech is critical, but banks won't like to be tech companies: Citi India CEO

It is demeaning to compare what banks do and what technology companies do; banks build relationship of trust with customers and use technology as an enabler, says Ashu Khullar, CEO Citibank India

BS BFSI Summit: Savers are slowly understanding MFs, says K V Kamath

'Fintechs using new and cost-effective technology, which incumbent banks are unable to compete with'