Page 14 - Indian Banks

RBI introduces card tokenisation facility at bank level for convenience

The RBI on Wednesday introduced a Card-on-File (CoF) token facility at the level of banks and other institutions to provide convenience for cardholders to get tokens created and linked to their existing accounts with various e-commerce applications. At present, a CoF token can only be created through the merchant's application or webpage. For a CoF, a token is a 16-digit number unique for a combination of card, token requestor and merchant. Through tokenisation, the actual card details are replaced with token credentials that can be used only with the intended merchant. "It has been decided to enable Card-on-File Tokenisation (CoFT) directly through card-issuing banks/institutions also. This will provide cardholders with an additional choice to tokenise their cards for multiple merchant sites through a single process," the RBI said in a circular. Generation of CoF tokens for a card, through the card issuer, can be enabled through mobile banking and internet banking channels. In ..

Banks seek RBI's nod to defer penal interest guideline by 3 months

The RBI issued guidelines instructing banks to levy charges rather than increase the interest rate for borrowers who fail to meet the terms and conditions of a loan contract starting January 1, 2024

RBI imposed monetary penalties worth Rs 40 crore on 211 entities in 2022-23

Out of 211, 176 penalties worth Rs 14.04 crore were alone imposed on cooperative banks, Bhagwat Karad told Lok Sabha on Monday

Rising cost of funds may squeeze bank NIMs by 30 bps more: CARE Ratings

Banks are still grappling with policy rate hikes on deposits, along with regulatory actions on unsecured lending

Banks, Indian companies set to raise Rs 13,700 cr through bond market

HDFC Bank, Shriram Finance, Tata Projects to raise funds

Lawmakers to hold discussions with select banks, insurance cos next year

Indian government, in 2019, announced the merger of 10 state-owned banks into four lenders

Total income of Indian banks' overseas branches more than doubles in FY23

The total income of branches more than doubled to Rs 60,596 crore in FY23 from Rs 22,947 crore in FY22. The expenses grew to Rs 51,479 crore in FY23 from Rs 19,709 crore

Presence of Indian banks via subsidiaries increased to 417 in FY23: RBI

Indian banks increased their overseas presence through the subsidiaries route to 417 during 2022-23, from 399 at the end of the preceeding fiscal, as per Reserve Bank data released on Wednesday. Their employee strength, too, rose 0.5 per cent and 6.2 per cent for foreign branches and subsidiaries, respectively, during 2022-23, the Reserve Bank of India (RBI) survey on International Trade in Banking Services 2022-23 showed. The survey covers 14 Indian banks having overseas branches or subsidiaries and 44 foreign banks having branches or subsidiaries in India. On the other hand, the number of branches and employees of foreign banks in India contracted during 2022-23 to 774 from 858 in 2021-22. "Overseas business of Indian banks expanded as both mobilisation of deposits as well as lending activities increased during the year," the RBI said. Shifting of retail business of a major foreign bank in India to a domestic private sector bank led to decline in aggregate deposits and credit of

RBI allows liquidity reversal for banks on weekends, holidays from Dec 30

The Reserve Bank of India (RBI) governor Shaktikanta Das said that the move will come into effect on December 30

RBI to establish cloud facility for financial sector to secure data privacy

Focusing on digital banking, the RBI announced a regulatory framework for web-aggregation of loan products and proposed the establishment of a fintech repository by April 2024

Indian banks ask fintech partners to limit tiny personal loans: Report

Several smaller fintechs have tie-ups with banks and non-bank finance companies for small-ticket personal loans

US-based data analytics firm FICO launches its cloud platform in India

"We can deliver vehicle loans faster and more accurately," said Uttam Tibrewal, executive director, AU Small Finance Bank

With 123,000 new employees in FY23, bank hiring to hit 10-year high

The highest annual net addition among banks was recorded in FY11 at 125,000, followed by 124,000 in FY12

BFSI forms larger pie of corporate profits in India than US, Europe

This surge is largely due to rising lending rates and an expansion in the net interest margins of banks and non-bank lenders

Deposits safe, RBI confident of fixing Abhyudaya Co-op Bank's governance

The multi-state cooperative lender, which was established in 1965, was under the regulatory watch for about two years, sources said

State Bank of India, BoB target 1 million user base in retail CBDC

Separately, Balaji Rajagopalan, SBI's Chief Technology Officer, said that the target is to achieve 1,000,000 users by the end of December from the existing 400,000 users

Nabard withdraws Rs 5,000 cr bond issue over high yield bids for coupon

The issuer received bids in the range of 7.85-7.87 per cent, according to market participants

Healthy outlook: Banks profit rises 33.5% to Rs 77,564 crore in Q2

High credit offtake; lower credit costs boost bottom line

Indian banks' Viability Ratings to benefit from improved performance: Fitch

Indian banks' Viability Ratings (VR) will continue to benefit from improved operating conditions and performance in the near term, said a global rating agency. "We expect Issuer Default Ratings (IDRs) to remain stable across banks as they are driven by our expectation of extraordinary support from the Indian sovereign (BBB-/Stable), should there be a need," Fitch Ratings said in a statement. Two Indian banks' VRs were upgraded in 2023, with upside possible for several banks as Fitch expects the recent, better-than-expected, financial performance, mainly in asset quality and earnings, to be maintained, it said. The recent revision of the operating environment score to 'bb+' from 'bb' also supports the assessment, it said. Five of the eight Indian banks' VRs are in the 'bb' category, reflecting a moderate degree of financial strength, while the other three with VRs in the 'b' category are still weighed down by their risk profiles, weak financial metrics of the past and weaker ...

Uco Bank Q2FY24 result: Net profit falls 20.3% to Rs 401.67 crore

Uco Bank Q2 result: The bank's gross non-performing assets fell to 4.14 per cent in the July-September quarter as compared to 4.48 per cent in the previous quarter