Page 18 - Indian Banking Sector

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

PSBs back on growth path as India's economic recovery gains traction

While the impetus to double-digit credit growth was from wholesale lending, retail credit growth continued to be robust

Economic recovery gradual, uneven amidst global headwinds: RBI report

Corporate sales and profitability increasing and gross NPA of banks is at 6-year low

HDFC Bank to shift payments from core banking, ensure minimal downtime

This would pave way for minimal payments downtime

HDFC Bank to double network in 5 yrs; to add 1,500-2,000 branches annually

The bank proposes to nearly double its network of branches in the next three to five years by opening 1,500 to 2,000 branches every year: CEO Sashidhar Jagdishan.

Early assessment of banking sector health encouraging: RBI deputy guv

"The asset quality of banks has improved and the gross NPAs and net NPAs of the banks have improved from the pre-pandemic levels," Rao said

Growth of shadow banks poses threat to financial stability: RBI report

Balance sheet expanded but asset quality deteriorated, says RBI report

Dhanlaxmi Bank's Q4 net profit jumps over four-fold to Rs 23 crore

Private sector lender Dhanlaxmi Bank on Thursday reported over four-fold jump in its net profit at Rs 23.42 crore in quarter ended March 2022, on fall in bad loan ratio as well as interest income

Please change the definition of 'fraud', bankers to urge RBI: Report

All the high-street bank CEOs decided to make a representation to RBI at a meeting to discuss issues faced by the lenders