Page 14 - Indian Banks

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)

Axis Bank launches 'Infinity Savings Account' with zero transaction fees

The bank offers two subscription-based flexible plans: Monthly and Annual

Banks to remain closed for 16 days in September; check full list here

Bank holiday September 2023: With 12 official holidays in various states and four weekends, the banks will remain closed for sixteen days. Here's the complete list

A step-by-step approach to CBDC

Why would anybody shift from UPI to CBDC? What are its advantages over UPI?

Commercial banks' deposit growth nearly at 7-year high, shows RBI data

Deposit growth hit 14.12% on 6 Jan, 2017, months after demonetisation of Rs 1000 currency note and the then Rs 500 note which was announced on 8 November 2016

Five-day work week in banks soon as industry demand gets nod from IBA

The proposal has now been sent to the finance ministry for its final approval. If approved, all Saturdays will be declared as bank holidays

Algo Rhythm: Banking technology tools that's up, close and personal

Banks have to understand customer intent, personally converse with them, and offer advice that was not drawn up in silos, says the survey

Indian banks' loans rose 20.2% y-o-y in 2 weeks to July 14: RBI data

Indian banks' loans rose 20.2% in the two weeks to July 14 from a year earlier, while deposits rose 13.2%, the Reserve Bank of India's weekly statistical supplement showed on Friday

Indian banks to witness record profitability in FY24: SBICAPS report

It added that the repo rate is expected to remain at current levels until late in FY24

PNB Q1FY24 results: Net profit up 307% to Rs 1,255.4 cr YoY, GNPAs at 7.73%

PNB's net NPAs also declined to 1.98% in the June quarter from 2.72% in the previous quarter

Are Indian banks ready to adopt the expected credit loss framework?

The sophistication that ECL is asking for is much more ahead and advanced compared to usual scoring models