Page 12 - Indian Banking Sector

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'

Never seen this kind of alignment in banks: KV Kamath at the BS BFSI Summit

Kamath said that he has 'no sympathies' for organisations complaining of not having enough people in a country like India

HDFC Bank 2.0 under Sashidhar Jagdishan: Steady beginning, miles to go

HDFC Bank, under Jagdishan, took the challenge head on and went on war footing to plug the gaps

Tamilnad Mercantile Bank Q2 net profit increases 5% to Rs 274 crore

The bank's total income during the period was up by 16 per cent, from Rs 1,141 crore in September 2022-23 to Rs 1,365 crore in the second quarter of FY24

Adding more bite: A case for tougher RBI penalties for violations

The amounts lenders are fined for violations are too little and may not deter them

South Indian Bank Q2 results: Net profit rises 23% to Rs 275 crore

The bank's net interest income during the period went up from Rs 726 crore to Rs 830 crore, registering a growth of 14.3 per cent on a year-on-year basis

IndusInd Bank Q2 results: Net profit up 22% on NII growth, low provision

Yield on assets for the quarter stood at 9.69 per cent, compared to 8.65 per cent in the same quarter of the previous year

RBI starts pilot programme for wholesale digital rupee in call money market

More use cases on to be tested; Plan to test the entire wholesale segment

Banks turning to SDF over liquidity mismatch and 24x7 RTGS facility

Banks earn less for keeping money in SDF, at 6.25 per cent, while call money rates hover around 6.70 per cent

Banks likely to report healthy profits in Q2 on high credit growth

Sequentially rising fund cost put pressure on margins

Banks to report healthy bottom line on high credit growth, low credit costs

NII, a key earning source for lenders, may show higher growth in private banks (24.4 per cent Y-o-Y) compared to public sector banks (12.1 per cent Y-o-Y) in Q2FY24

It's time RBI became data-dependent: PNB Gilts MD & CEO Vikas Goel

'A lot would depend on the RBI and liquidity. There is a glide path for yields now'

IndusInd Bank launches digital banking app, aims 10 mn customers in 3 years

The app boasts a transparent rewards programme, wherein users can select their favourite brands from leading e-commerce platforms

SBI Cards likely to gain as higher spending expected in third quarter

The four largest players are HDFC Bank, SBI Cards, ICICI Bank and Axis Bank and they hold 70 per cent of outstanding cards and receive about 75 per cent of spends

IFC gets approval from RBI to raise stake in Federal Bank to 9.7%

IFC currently holds a 1.34 per cent stake in the bank

Axis Bank launches NEO for Business transaction banking platform for MSMEs

India currently has over 65 million MSMEs which contribute over 30 per cent to India's gross domestic product

Fino Payments shares recover after 'funds misappropriation' allegation

Lender says action by some employees will not impact it; conducts internal investigation

Five-day work week in banks soon as industry demand gets nod from IBA

The proposal has now been sent to the finance ministry for its final approval. If approved, all Saturdays will be declared as bank holidays