Page 13 - Indian Banking Sector

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

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