Page 17 - Indian Banking Sector

Public sector banks plan to establish verticals for big data, analytics

PSBs will also launch digital-only goods, services in the upcoming year with minimal data entry requirements, automated checks, and underwriting for consumers

Can financial services be made bite-sized to deepen credit penetration?

Small can be more beautiful: Large-scale sachetisation of financial services may be just around the corner

At 16.2%, credit growth in banking system at multi-year high: RBI data

But a widening credit-deposit gap is a concern for lenders

Post-IPO, Tamilnad Mercantile Bank to up focus on RAM, go on phygital mode

TMB's IPO was subscribed 2.86 times on the last day of subscription

HDFC Bank to open 207 branches in Maharashtra, hire more than 3,000

The smart banking lobbies will be set up in 16 districts and will be operational 24 hours and 7 days

Public versus private banks: The case made for both in an RBI paper

Far from arguing against privatisation, the RBI paper attracting Opposition ire presents the pros and cons of both ownership structures

Banks must ensure credit schemes reach eligible citizens: FM Sitharaman

'Difficult situation' caused by unintended people getting benefits of credit programmes now over, she says

Flows into NRI deposits nosedive to mere $349 mn in June quarter

Outstanding deposits declined to $135.9 billion at the end of June 2022 from $141.5 billion a year ago.

YES Bank hits highest level since January 2021; stock soars 20% in 3 days

On July 29, 2022, the bank announced to raise equity capital of around 1.1 billion (Rs 8,900 crore) from funds affiliated with two global private equity investors - Carlyle and Advent International.

Changes in rules from August 1: LPG cylinder price, BoB payment scheme

August will be full of shocks and surprises as there will be some changes in rules, banks closed for 18 days, a change in the Bank of Baroda cheque payment system and the introduction of PPS

SBI Card net profit more than doubles to Rs 627 crore in June quarter

SBI card shares of the lender were trading 4.2 per cent higher than the previous day's close at Rs 926.1

IDBI Bank sale: Clarity on sale glide path for buyers after EoI stage

Currently, the RBI guidelines require promoters to reduce their shareholding to 26 per cent in 15 years

HDFC Bank opens special window offering 6.80% interest for NRE deposits

The window, which is available on Wednesday and Thursday, offers an annual rate of 6.80 per cent on NRE deposits worth Rs 2 crore to less than Rs 150 crore

Indian economy relatively better placed amid grim global scenario: RBI Guv

"RBI has been supplying US dollars to the market to ensure adequate supply of liquidity," Governor Shaktikanta Das said

AU Small Finance Bank Q1 net up 32% YoY to Rs 268 cr, down 23% sequentially

Improvement in NII, even as trading losses weigh on profitability

Bank credit grows by 13.3%, deposits by 9.7% in fortnight ended on July 1

Bank credit grew by 13.29 per cent to Rs 123.81 lakh crore and deposits by 9.77 per cent to Rs 169.61 lakh crore in the fortnight ended on July 1, RBI data showed. In the fortnight ended June 2, 2021, bank advances stood at Rs 109.28 lakh crore and deposits at Rs 154.51 lakh crore, according to the Scheduled Banks' Statement of Position in India as on July 1, 2022, released on Thursday. In the fortnight ended June 17, 2022, bank credit grew by 8.31 per cent and deposits by 12.05 per cent. In FY22, bank credit rose by 8.59 per cent and deposits by 8.94 per cent.

NBFCs to rely more on funding from banks, cost may rise, says report

Non-bank finance companies (NBFCs) are likely to rely more on banks for their funding requirements as interest rates are hardening in the capital market, says a report. As the sector moves towards banks for meeting its funding requirements, smaller NBFCs could witness a sharp increase in their funding costs, India Ratings and Research said in a report. "The borrowings of non-bank finance companies (NBFCs) could get skewed to banks in FY23, given the hardening of rates in the capital markets," the agency said in a report on Wednesday. The shift in the NBFCs' funding mix in FY23 will be driven by a rise in the proportion of short-term funding by way of commercial papers and debenture funding getting replaced by bank funding to a certain extent. A huge quantum of borrowings to be raised by large NBFCs would lead to a further increase in the banks' exposure to the sector, and small NBFCs thus could face crowding out, the report said. The agency said with the rise in interest rates, ..

Banks may incur Rs 13,000 cr MTM losses in Q1 on rising bond yields: Icra

State-owned lenders, which hold large quantities if G-Secs, to face brunt of yield spike

Bank of Maharashtra bucks the trend, cuts MCLR by 20-35 basis points

The state-owned lender cut overnight and one-month MCLR by 25 bps to 6.90 per cent and 7 per cent

TCS beats street estimates with 16.2% Q1 revenue growth; margins disappoint

The consolidated revenue of the IT major grew to Rs crore in the quarter under review from Rs 45,411 crore a year ago