Page 2 - Indian Banking System

Nominee, survivorship clause can ease heirs' bank account, locker claims

For claims without a nominee, heirs should be prepared to submit succession certificates or letters of administration for larger amounts

ICICI Bank faces netizen ire for raising min balance requirement to ₹50,000

ICICI Bank's decision to raise the minimum monthly average balance (MAB) for new savings accounts to ₹50,000 in metro and urban areas has drawn significant backlash on social media, with users citing

RajivAnand to start with fresh and clean slate at IndusInd Bank: Chairman

Anand will be expected to scale the differentiated franchise of the bank, with a strong ethical foundation, Mehta added

Building bridges anew: RBI, banks must fine-tune board roles in governance

The developments at IndusInd Bank have led RBI's senior supervisory managers (SSMs) to take a closer look at bank boards, including the agenda presented, the time spent discussing specific items

Fiscal policy must match banking reality in bad loans amid economic shifts

The new framework introduces a principle-based regime, harmonises treatment across banks and non-banking financial companies (NBFCs)

Pain in microfinance will linger for at least 3-4 quarters: DCB Bank MD

DCB Bank MD & CEO Praveen Kutty outlines plans to double loan book, manage costs, and raise capital by Q2FY27, while navigating MFI stress and shifting lending strategy

Unethical practices by some banks, NBFCs threaten trust in system: RBI DG

With the ambitious goal of a developed India by 2047, banks will need to adapt continuously to serve a more aspirational, mobile, and digitally connected population, he said

Indian Bank Q1FY26 results: Consolidated profit down 11.4% at ₹ 2,276.37 cr

Indian Bank's consolidated net profit dips 11.4% in Q1 FY26, while standalone net profit rises 24%, with improvements in asset quality and advances

IBPS PO, SO recruitment 2025: Last date to apply for 6000 posts is today

The IBPS PO, SO recruitment 2025 registration window will end today, July 21. Candidates who wish to work in a government bank can send their application forms through the official website at ibps.in

How much liquidity does RBI want: Appropriate, adequate, or abundant?

Liquidity in the system had a deficit of Rs 2.4 trillion towards the end of the last financial year (on March 23); it is now in surplus of around Rs 3 trillion

Axis Bank Q1 results: Profit dips 3.8% to ₹5,806 cr on bad loan provisions

The country's fourth-largest private lender by market capitalisation reported a standalone net profit of 58.06 billion rupees ($674.8 million) for the quarter ended June 30

Managing excess liquidity: Financial markets need more clarity now

Excess liquidity could also incentivise the banking system to extend loans at lower rates

From BoB to Indian Bank, PSBs report double-digit credit growth in Q1

Bank of Baroda, Indian Bank lead state-owned lenders' strong credit expansion in April-June, while deposits grow at a slower pace

State Bank of India at 70: Tracing the journey of India's biggest lender

From its 1800s roots to today's banking giant, SBI marks 70 years since its birth

CBI busts 850,000 mule accounts in 700 bank branches across five states

The CBI has detected 8.50 lakh mule bank accounts in over 700 branches nationwide which are being used by cyber criminals to launder proceeds from scams involving digital theft, impersonation, fraudulent investments, and UPI-based frauds, an enquiry by the agency has found. The central agency's crackdown on these mule accounts, opened using fake IDs for the limited use of siphoning victims' money, came through a coordinated search operation recently at 42 locations in Rajasthan, Delhi, Haryana, Uttarakhand and Uttar Pradesh during which nine suspects were taken into custody, officials said Thursday. Those taken into custody include alleged middlemen, agents, aggregators, account holders, and banking correspondents, all believed to be instrumental in orchestrating and facilitating the opening of these fictitious accounts, they said. A mule account opened in the name of an individual who may or may not be aware that the account is used to launder illicit money. The CBI has found that

RBI to conduct seven-day VRRR auction on Friday to mop up liquidity

The average liquidity surplus in the system over the past two weeks-reflected by the daily absorption by the RBI-was around Rs 2.5 trillion

RBI, banks to launch DPIP platform to combat rising digital payment frauds

In a bid to rein in the increasing incidence of digital payment frauds, major public and private sector banks have been roped to develop Digital Payment Intelligence Platform (DPIP) as a Digital Public Infrastructure (DPI) under the supervision and guidance of the RBI. The proposed platform seeks to bolster fraud risk management by facilitating real-time intelligence sharing and gathering, thereby preventing fraudulent digital transactions, sources said. According to sources, the institutional structure of the proposed entity would be created with the help of both public sector and private sector lenders as fraud is a common monster. Earlier this month, a high-level meeting in this regard was convened to finalise the structure of the platform where senior bank officials, RBI officials and other stakeholders were present. Since the issue is one of the top agenda for both the government and the Reserve Bank of India (RBI), sources said the platform should become operational in the ne

K Ramachandran appointed part-time chairman of Tamilnad Mercantile Bank

TMB board appoints veteran banker K Ramachandran as Additional Director for three years and clears his name for part-time chairman, pending RBI approval

RBI imposed penalties on 353 banks, other regulated entities in FY25

The Reserve Bank took enforcement action against regulated entities (REs) and imposed 353 penalties aggregating to Rs 54.78 crore in the fiscal ending March 31, 2025 for contraventions with provisions of statutes. The contraventions/non-compliance were related to cyber security framework in banks; exposure norms and IRAC norms; know your customer directions; frauds classification and reporting directions; reporting information on CRILC; and submission of credit information to credit information companies (CICs). "During 2024-25, the Department undertook enforcement action against REs and imposed 353 penalties aggregating to Rs 54.78 crore for contraventions/non-compliance with provisions of statutes and certain directions issued by the Reserve Bank from time to time," according to the RBI's Annual Report for the Year 2024-25 released on Thursday. RBI data showed that as many as 264 penalties amounting to Rs 15.63 crore were imposed on cooperative banks. Moreover, the RBI imposed ..

RBI to prepare framework for ethical adoption of AI in financial sector

The Reserve Bank will prepare a framework for responsible and ethical adoption of artificial intelligence (AI) in the financial sector during the current financial year, the central bank's annual report said. Driven by rapid advances in computing power and the vast availability of digital data, AI and machine learning (ML) technologies have seen growing interest and significant progress in recent years, with financial institutions globally and domestically increasingly adopting these technologies. The Reserve Bank will prepare a framework for responsible and ethical adoption of AI in the financial sector, as per the agenda for 2025-26 spelt in the RBI's annual report for 2024-25. "The Reserve Bank is exploring and implementing AI/ML-driven solutions in its own functions," it said. It has constituted an external committee in December 2024, comprising experts with a mandate to recommend a Framework for Responsible and Ethical Enablement of AI in the financial sector. The Reserve Ban