Page 13 - Indian Banks

Indian Bank Q2 results: Net profit rises 61% to Rs 2,068.49 crore

The total income of the Chennai-based bank also rose by 25 per cent during the quarter, reaching Rs 15,929.4 crore compared to Rs 12,714.2 crore in the same quarter of the FY23

Banks well placed to withstand trading losses due to hardening yields: RBI

While banks are endowed to face effects of rising yields, they need to strengthen risk management practices and internal controls by banks remains of paramount importance, it emphasised

Indian banks are facing a higher risk of defaults from unsecured loans: UBS

The note said the share of borrowers with more than five personal loans rose from 1 per cent in 2018 to 7.7 per cent in March 2023

Banks assess carbon risk of loan book amid investor, RBI push: Reports

The South Asian nation is the world's third-highest greenhouse gas polluter and has set a goal of reaching net zero emissions by 2070

Indian banks pursue unpaid loans by Singapore's GVK in British court

A trial involving six Indian banks pursuing unpaid loans amounting to an estimated USD 2 billion, including interest accrued, from GVK Coal Developers (Singapore) Pte Ltd and associated companies opened in the High Court here on Tuesday. Judge Dame Clare Moulder presided over the hearing at the Commercial Court division to hear the case brought by Bank of Baroda (acting by its Ras Al Khaimah branch), Bank of India (London branch), Canara Bank (London branch), ICICI Bank Ltd (acting by its Bahrain, Dubai and Off-Shore Banking branches), Indian Overseas Bank (Corporate Branch, India) and Axis Bank Ltd. The case dates back to 2011 and 2014, when loan facilities were made available to the company, which the banks say are long overdue other than USD 83 million from the proceeds of the sale of a Bengaluru airport and certain amounts not in dispute. According to court documents, the banks have been pursuing the case at the High Court in London since 2020. GVK's legal representatives had .

Here's how the Indian banks are making $64 billion from a freebie

Since April, customers dipping into their mobile-phone wallets to settle bills of more than Rs 2,000 ($24) have to bear a maximum

IndusInd Bank launches digital banking app, aims 10 mn customers in 3 years

The app boasts a transparent rewards programme, wherein users can select their favourite brands from leading e-commerce platforms

Yes Bank appoints Manish Jain as country head of Wholesale Banking

Jain succeeds Ravi Thota, who resigned in August, citing personal and professional reasons

Got new debit/credit card? Here's what to do before 1st online transaction

Most banks now toggle off the control limit of a card at the time of issuance. To make online or offline transactions, the users must first enable the controls. Know how here

Bank credit grows 15.07% YoY in early Sept; deposits expands by 12.8%

RBI released the Scheduled Banks' Statement of Position in India as of September 8, 2023

Headwinds ahead for NBFCs; analysts differ significantly in recommendations

But analysts differ significantly with respect to individual large players

Credit card users in India may no longer be able to overpay their dues

The banks have put guards in their applications to prevent customers from overpaying their credit card dues

Banks receive GST notices for use of brand name by branches, subsidiaries

Tax authorities believe that the brand name is a free service given to related parties and thus subject to GST

Healthy loan book growth likely to drive profitability of banks in FY24

Analysts at the agency maintained a positive outlook on the banking sector amid expectation that credit growth in the banking sector in the financial year 2023-24

Banking investments

New norms will impart stability

Reserve Bank of India makes banks' investment norms more stringent

Over 5% sale from held-to-maturity category will need prior approval

Citi India FY23 profit jumps threefold Rs 13,614 crore on retail arm sale

Citi's total assets stood at Rs 2,17,302 crore as at March 31, 2023. Citi concluded the deal with Axis Bank in March this year

Deposit growth picked up pace, credit offtake moderated in August

The data for both credit and deposit excludes the impact of the merger of HDFC with HDFC Bank in July 2023

Banks have no option but to partner with fintech, says K V Kamath

'India will be a $25 trillion economy in 25 years, digital India will drive 20-25% of this growth'

CD issuances rise in August; market expects incremental CRR extension

Market participants expect that banks might keep raising funds through CDs on the speculation that the Reserve Bank of India (RBI) might extend the Incremental Credit Reserve Ratio (I-CRR)