Page 13 - Indian Banking Sector

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

National consumer commission imposes Rs 15 lakh fine on HSBC for negligence

The National Consumer Disputes Redressal Commission has imposed a fine of Rs 15 lakh on the Hongkong and Shanghai Banking Corporation Ltd (HSBC) for negligence and deficiency in service. The top consumer commission was hearing a plea filed by complainants claiming their joint savings bank account was illegally frozen resulting in ATM withdrawal transactions being declined and dishonour of cheques. Presiding Member Inder Jit Singh said, Opposite Party (HSBC) shall pay a compensation of Rs 15 lakh to complainants for the mental agony, harassment and adverse impact on the reputation of complainants on account of dishonour of cheques despite the account having sufficient balance on account of acts of negligence and deficiency in service on the part of the OP. The commission also directed HSBC to pay litigation costs of Rs one lakh. It noted that the bank had frozen the joint on the grounds of non-renewal of the Know Your Customer (KYC) details of either of the complainants and/or ...

RBI supervision not meant to be intrusive or punitive: Deputy Governor Jain

Jain, whose 5-year tenure ends today, talks about the importance of technology, customer service and financial inclusion, besides the RBI's focus on governance at banks and every financial institution

There's more trouble coming for regional US banks: Soros Fund CEO

One further source of trouble for the industry will be commercial real estate, an area that in recent years smaller and regional banks have become a bigger force in

Monetary policy: RBI defines technical write-offs for regulated entities

Will provide further impetus to resolving stressed assets, rationalising and harmonising instructions

Will banks become risk-averse in the quest to seek a governance premium?

India Inc will have to pencil in Mint Road's stress on the governance premium in bank lending

Sustaining banking stability

Governance gaps must be avoided

G20: Experts deliberate on cyber security exercise for banking sector

The Deputy Governor in his address stressed that managing cyber risks has become a key driver for ensuring financial stability

Bank boards must hold mgmts accountable for their actions: RBI Dy Guv Rao

If the management fails to meet expectations, the board should even consider replacing it, he said

Banks seek one more year to prepare for ECL reporting on stressed assets

Banking regulator has indicated five-year glide path for shift to new system

UCO Bank Q4 net profit rises 86% to Rs 581.24 cr, NPA down to 4.78%

The loan Book of UCO Bank also reached its highest-ever level of Rs 11.6 trillion against a loan book of Rs 12.9 trillion last year

Banking infra needs further strengthening in NorthEast: Bhagwat Karad

The government schemes on financial inclusion are doing well and there is an increase in credit growth by 85 per cent

After a decade in wilderness, Indian banks healthy, but still not cautious

With the incremental credit-to-deposit ratio running at 111%, Indian banks will have to pay more to savers - sacrificing some part of their high profitability

FY24 kicks off a fresh cycle for Indian banking

Inflation remains a worry in the world's fifth-largest economy but, at the moment, no risk is seen for financial sector stability

South Indian Bank to name new CEO by May as Ramakrishnan announces exit

Search committee considering internal and external options for selecting new chief of Thrissur-based lender

Euro falls sharply against dollar as banking sector troubles continue

The euro fell sharply against a strengthening dollar on Friday amid nervousness over banks, with better-than expected economic data failing to lift sentiment