Page 4 - Indian Banking Sector

Indian Bank launches new savings accounts for NRIs with global access

The Bank's new offerings aimed at a seamless combination of traditional trust and modern conveniences, reinforcing its position as a trusted banking partner for NRIs around the globe

Karur Vysya Bank expects 2% more credit growth than industry in FY26

Private sector Karur Vysya Bank expects its credit growth to be more than 2 per cent over the industry's overall growth during the current financial year, a top official said. The Tamil Nadu-based bank has lined up plans to open 28 new branches before the first half of the current financial year, particularly in Southern and Western parts of the country, the Bank's Managing Director and CEO, Ramesh Babu, said. The financial landscape is witnessing a dramatic transformation globally as well as in India, driven by technological innovations, changing consumer preferences and the emergence of alternative business models, he said. "The Reserve Bank of India is expected to adopt a more accommodative monetary policy stance. This could involve further rate cuts to stimulate domestic demand and support economic growth. The sudden escalation at the border has also added more uncertainties for the coming year," Babu told analysts recently, during the Q4 FY2025 Earnings Conference ...

Finance ministry pulls up public-sector banks over staff misconduct

Ministry asks lenders to strengthen handling customer grievances following several incidents

Biz correspondents' body to raise Atal Yojana renewal commission with banks

BCRC may take up the issue with the Indian Banks' Association; in January, it had raised the matter with the insurance regulator

Indian Bank Q4 profit rises 32% to ₹2,956 crore on improved core income

State-owned Indian Bank on Saturday reported a 32 per cent jump in net profit to Rs 2,956 crore for the March quarter of 2024-25, helped by a decline in bad loans and a rise in core income. The Chennai-based lender had earned a net profit of Rs 2,247 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 18,599 crore from Rs 16,887 crore a year ago, Indian Bank said in a regulatory filing. Interest income grew to Rs 15,856 crore from Rs 14,624 crore in the fourth quarter of the previous financial year. Net Interest Income (NII) in the quarter also improved to Rs 6,389 crore from Rs 6,015 crore in the same period a year ago. On the asset quality front, the bank's gross Non-Performing Assets (NPAs) moderated to 3.09 per cent of gross advances as compared to 3.95 per cent by the end of March 2024. Similarly, Net NPAs came down to 0.19 per cent of the net advances over 0.43 per cent at the end of 2024. Provision Coverage Ratio of the bank rose to 98

Kotak Mahindra Bank Q4 results: Consolidated net profit down 7.5% Y-o-Y

On a standalone basis, the bank's net profit was down 14% Y-o-Y in Q4

Indian Overseas Bank Q4 results: PAT rises 30% to ₹1,051 cr on lower NPAs

State-owned Indian Overseas Bank (IOB) on Friday reported a 30 per cent rise in net profit to Rs 1,051 crore for the March quarter, helped by a decline in bad loans and a rise in interest income. The Chennai-based lender had earned a net profit of Rs 808 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 9,215 crore, as against Rs 9,106 crore a year ago, Indian Overseas Bank said in a regulatory filing. Interest income grew to Rs 7,634 crore during the period under review, from Rs 6,629 crore in the corresponding quarter a year ago. On the asset quality front, the bank's gross Non-Performing Assets (NPAs) moderated to 2.14 per cent of gross advances, as compared to 3.10 per cent by the end of March 2024. Similarly, Net NPAs also came down to 0.37 per cent of the advances, over 0.57 per cent at the end of 2024. As a result, total provision during the quarter eased to Rs 200 crore, as against Rs 409 crore in the same quarter a year ago. The b

State Bank of India to raise funds via share sale this fiscal year

The board of the state-run bank will discuss the proposal for fresh capital either through a follow-on public share sale, rights issue or qualified institutional placement on May 3

Banks set to meet investment needs of India Inc: RBI Guv Sanjay Malhotra

RBI governor says rupee's orderly movement reflects strong macro fundamentals

Indian banks outperform global peers in digital transition, daily services

Indian banks have introduced features like real-time and future-dated payments, app-based banking through messengers, and virtual card issuance for online transactions, outpacing global peers

ICICI Bank's Q4FY25 results: Net profit up 18% to Rs 12,630 crore

On a consolidated basis, the bank's net profit grew 15.7 per cent to Rs 13,502 in Q4FY25 from Rs 11,672 crore in Q4FY24

HDFC Bank's Q4FY25 results: Net profit up 6.7% aided by lower provisions

The bank's NII was up a little over 10 per cent Y-o-Y at Rs 32,065.8 crore in the reporting quarter

New India Co-operative Bank case: Depositors push for revival or merger

Depositors of scam-hit New India Co-operative Bank met RBI-appointed advisors and senior officials of the apex bank, demanding a concrete roadmap for the bank's revival or merger and better protection for depositors' interests, as per a release. The NICB Depositors' Foundation is demanding urgent measures to restore depositor confidence and alleviate the financial strain faced by thousands of account holders since RBI imposed restrictions on February 13, 2025. Mumbai Police has so far arrested eight persons in connection with the Rs 122 crore New India Cooperative Bank embezzlement case. The foundation president TN Raghunatha said a delegation of depositors met RBI-appointed advisors Ravindra Chavan and Ravindra Sapra at the bank's corporate office in Prabhadevi on Friday. During the discussion, the advisors offered a cautiously optimistic outlook on the bank's future, Raghunatha stated. "The advisors were positive about the prospects of reviving the bank. They confirmed that mult

RBI issues draft rules for gold loans to standardise norms across lenders

RBI said the policy will strengthen conduct-related aspects, with lending norms integrated into lenders' credit/risk management policies

NaBFID to raise ₹8,000 cr via bonds, includes first 5-yr paper: Bankers

It also aims to raise at least ₹2,000 crore through 10-year papers, with a greenshoe option of ₹3,000 crore, the bankers added

BankTech investment projected to hit $1 bn by 2027 end: Cedar-IBSi Capital

Venture capital fund Cedar-IBSi Capital on Sunday said investment in the country's BankTech sector is projected to reach USD 1 billion by the end of 2027. It said as the country is progressing towards achieving its gross domestic product target of USD 7 trillion by 2030, the banking sector will be a key driver for pushing the economic growth. "Investment in India's BankTech sector is projected to reach USD 1 billion by the end of 2027," the company said. Cedar-IBSi Capital Founder and Managing Partner Sahil Anand said technological revolution has been transforming banking services in India, bringing down its core functions towards digitisation. Research indicates that about 80 per cent of the traditional banking services can now be performed digitally, he said, adding that technology is playing a crucial role in driving financial inclusion, extending banking services toconsumers in underserved regions. Cloud computing has emerged as a transformative force in the banking sector, ..

Kotak Mahindra Bank appoints Bhavnish Lathia as Chief Technology Officer

The post fell vacant following resignation of Milind Nagnur, effective February 15, who was the chief operating officer and chief technology officer, due to personal reasons

Non-bailable warrant issued against New India Bank's ex-chairman, his wife

A local court has issued a non-bailable warrant (NBW) against New India Cooperative Bank's former chairman Hiren Bhanu and his wife Gauri Bhanu, who fled the country just before the Rs 122 crore embezzlement case came to light last month, officials said on Wednesday. The Economic Offences Wing (EOW) of the Mumbai police, which is investigating the case, has so far arrested seven persons in connection with the case, an official said. "The bank's former chairman and vice chairman, Hiren Bhanu and his wife Gauri Bhanu, are wanted accused in the case. But they left the country on January 26 and February 10 respectively," he said. As both are out of country and locating them was necessary for the probe of the case, a 'Blue Corner Notice' has been issued against them earlier, he said. "While investigating the case, the EOW had submitted an application before the court about issuing a non-bailable warrant against the Bhanu couple. Accordingly, the court has issued a non-bailable warrant .

Banking system in India remains strong despite market concerns

The RBI assures stability as IndusInd Bank addresses a one-time discrepancy, reinforcing the resilience of India's banking sector amid strong liquidity and regulatory oversight

Banks cut high-cost deposits, low-yielding loans to protect margins

Bankers said that, given the pressure on interest margins, many lenders have reduced dependence on high-cost bulk deposits and scaled down exposure to low-yielding credit to NBFCs