Page 5 - Indian Banking System

Indian banks are strong enough to support growth

While the share of retail loans has increased, they are anchored in secure home loans

Bernstein sees 20% upside in IndusInd Bank, 7% downside in Bajaj Finance

The downside in Bajaj Finance, Bernstein said, was because much of the positives are priced into the stock's rich valuations

FSIB suggests 5 chief general managers for position of EDs in PSU banks

The Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned banks and financial institutions, on Monday recommended the elevation of five chief general managers for the post of executive directors in various banks. The FSIB interviewed 57 candidates between June 13-17 for recommending suitable names for executive directors (EDs) in public sector banks (PSBs). Keeping in view their performance in the interface, their overall experience and the extant parameters, the Bureau recommends five names for the panel of EDs for year 2024-25, FSIB said in a statement. These successful Chief General Managers (CGMs) are Beena Vaheed (Union Bank of India), Rajeeva (Punjab National Bank), S K Majumdar (Canara Bank), D Surendran (Canara Bank) and Amit Kumar Srivastava (Punjab National Bank). "The names are in the order of merit. This panel will be operated in the financial year 2024-25, subject to availability of vacancies in the panel Year 2024-25," it said. Th

Fintech to switch on reset button as self-regulatory mechanism comes in

The first signs of change in the way the sector looks at itself are upon us

Modi govt revived banking sector, Rs 10 lakh cr bad loans recovered: FM

Finance minister Nirmala Sitharaman on Friday said the Modi government has turned around the banking sector through various reforms and improved governance which has led to banks recovering more than Rs 10 lakh crore from bad loans between 2014 and 2023. She said the Enforcement Directorate has investigated around 1,105 bank fraud cases, which resulted in the attachment of Rs 64,920 crore worth of proceeds of crime. As of December 2023, assets amounting to Rs 15,183 crore have been restituted to the Public Sector Banks (PSBs). "Recently, India's banking sector achieved a significant milestone by recording its highest-ever net profit, crossing Rs 3 lakh crore. The banking sector turned around due to PM Shri @narendramodi's strong and decisive leadership. Our government atoned for the UPA's sins in the banking sector through comprehensive and long-term reforms," Sitharaman said in a post on X. She said there has been no leniency in recovering bad loans, especially from large ...

Sebi asks clearing corporations to diversify their bank exposure

Regulator also tweaks norms on collateral and liquid assets

Narayanan Vaghul: A generous leader and true colossus of Indian banking

His life and career exemplify that decency, simplicity, and forward-thinking can lead to success at the highest levels

RBI says 97.76% of Rs 2,000 currency notes returned to banking system

The Reserve Bank of India (RBI) on Thursday said 97.76 per cent of the Rs 2000 denomination banknotes have returned to the banking system, and only Rs 7,961 crore worth of the withdrawn notes are still with the public. On May 19, 2023, the RBI announced the withdrawal of Rs 2000 denomination banknotes from circulation. The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of the high value banknotes was announced, has declined to Rs 7,961 crore at the close of business on April 30, 2024, the Reserve Bank said in a statement. "Thus, 97.76 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned," it said. The Rs 2000 banknotes continue to be legal tender. People can deposit and/or exchange Rs 2000 banknotes at 19 RBI offices across the country. People can also send Rs 2000 bank notes through India Post from any post office to any of the RBI Issue Offices for

RBI asks all regulated entities to review their lending practices

The regulator has also asked the entities to take corrective measures, including system-level changes

ATM deployers may get a boost; higher cash withdrawal may cost more

higher cash withdrawal may cost more

Bank of Maharashtra Q4 results: Net profit up 45% at Rs 1,218 crore

Public sector lender mulls Rs 7,500 crore equity capital raise

Loan for Vodafone Idea: Banks to check liabilities repayment schedule first

Telecom company Vodafone Idea needs to raise about Rs 25,000 crore through loans

CD issuances fall significantly in April as liquidity conditions ease

Total CD issuances amounted to around Rs 19,850 crore as of 21 April, a significant decrease from the Rs 1.2 trillion worth of issuances in March

Tamilnad Mercantile Bank net profit falls flat at Rs 253 crore in Q4

The bank posted a net profit of Rs 284 crore for the October-December 2023 quarter

Universal bank licences: Here are key changes in licensing criterion

Two new sets of banks - small finance banks and payments banks - have also started operations under differentiated licensing norms

RBI Guv Das for greater participation of banks in rupee derivatives market

Currently, domestic banks primarily interact with global market-makers rather than end clients and have yet to establish themselves as significant market-makers globally

Public-sector banks may be allowed to transfer unclaimed shares to IEPF

FinMin preparing to amend Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970

RBI to offer CBDC-R accessible to non-bank payments system operators

Farmers to transact through CBDC-R for inputs, first use case of programmability starts today

RBI to allow third-party apps for UPI payments through PPI wallets

Cash deposit facility in banks through UPI soon

SFBs seek glide path from RBI to become universal banks citing eligibility

Lower priority sector lending norms would help in reducing cost