Page 6 - Indian Banks

Banks to remain closed today for Mahavir Jayanti; check holidays' list

The RBI announces bank holidays through its official channels, such as its website and bank notifications. The bank holidays are classified under three categories

Indian banks recovered over Rs 14k cr, twice he owed, claims Vijay Mallya

Fugitive liquor baron Vijay Mallya has claimed that Indian banks have got access to his properties worth Rs 14,131.6 crore, more than twice the amount that he owed to public sector banks. Mallya cited purported reference to the details of restoration done by the Enforcement Directorate against wilful defaulters in the Finance Ministry's annual report 2024-25 to say that banks have already recovered Rs 14,131.8 crore against Rs 6,203 crore awarded by the Debt Recovery Tribunal. "Finally, against aT judgment debt of Rs 6,203 crore, admitted recovery of Rs 14,131.8 crore, which will be evidence in my UK bankruptcy annulment application. Wonder what banks will say in an English Court," Mallya said in a post on X. Sharing details of fugitive economic offenders, including Mallya and 10 others, the report said a total of 44 extradition requests have been sent to various countries in respect of 36 individuals. As per the annual report of the ministry, a complete amount of attached properti

RBI may infuse up to Rs 4 trillion to shield economy from global risks

SBM India estimates that up to Rs 2 trillion could be injected in the first half, adding to an unprecedented $80 billion already pumped in since January

Union Bank of India Q4 loan growth at 8.6%, total advances at Rs 9.82 trn

State-owned Union Bank of India on Friday said it has posted a credit growth of 8.6 per cent to Rs 9.82 lakh crore during March 2025 quarter. Total advances were Rs 9.04 lakh crore at the end of March 2024, Union Bank of India said in a regulatory filing. The lender reported a 7.22 per cent rise in total deposits to Rs 13.09 lakh crore as against Rs 12.21 lakh crore at the end of the fourth quarter of the previous financial year. Total business of the bank rose 7.8 per cent to Rs 22.92 lakh crore as compared to Rs 21.26 lakh crore at March-end 2024. Meanwhile, J&K Bank reported a 10.3 per cent improvement in advances to Rs 1.06 lakh crore at the end of fourth quarter of FY25 as against Rs 96,981 crore in the same period a year ago. The Srinagar-based lender's deposits rose 10.2 per cent to Rs 1.48 lakh crore during the quarter from Rs 1.34 lakh crore in the year-ago period, J&K Bank said in a separate regulatory filing. Ujjivan Small Finance Bank clocked a 7.9 per cent rise in

RBI tells banks to continue joint account for surviving spouse's pension

Spouse entitled for family pension must be survivor

IndusInd Bank taps Grant Thornton for fraud checks in accounting case

The accounting discrepancy contravened Reserve Bank of India rules, though the central bank has said IndusInd is well-capitalised

Public sector banks' dividend rises 33% to Rs 27,830 crore in FY24

Dividend payout by public sector banks (PSBs) have risen by 33 per cent to Rs 27,830 crore in FY24, indicating significant improvement in financial health of these lenders. PSBs declared a dividend of Rs 27,830 crore to shareholders in 2023-24 as against Rs 20,964 crore in the previous fiscal, registering an increase of 32.7 per cent, according to the government data. Of Rs 27,830 crore total dividend, nearly 65 per cent or Rs 18,013 crore was paid to the government towards their shareholding in FY24. During 2022-23, the government received Rs 13,804 crore as dividend from the public sector banks including State Bank of India (SBI). It is to be noted that 12 public sector banks recorded the highest ever aggregate net profit of Rs 1.41 lakh crore in 2023-24 against the net profit of Rs 1.05 lakh crore in 2022-23, and earned Rs 1.29 lakh crore in the nine months of the current financial year. Out of the total profit of Rs 1,41,203 crore earned during FY24, market leader SBI alone ..

New India Bank case: Depositors ask RBI for measures to revive bank

An organisation representing depositors of the New India Co-Operative Bank, hit by alleged embezzlement of Rs 122 crore, have submitted a petition to the Reserve Bank of India, seeking immediate measures to revive the bank for ending their financial hardships. In the petition, the organisation said it suspects that "deeper financial irregularities like undisclosed non-performing assets (NPAs) or additional frauds could be contributing to the crisis". On February 15, the Economic Offences Wing (EOW) of the Mumbai police arrested Hitesh Mehta, General Manager and Head of Accounts of the New India Cooperative Bank, for allegedly misappropriating Rs 122 crore from the bank. Two days prior to that, the RBI had imposed several restrictions on the bank, including on withdrawal of funds by depositors, citing supervisory concerns emanating from the developments in the bank, and to protect the interest of its depositors. A day later, it superseded the cooperative bank's board for a year and .

Banks' Apr-Dec performance robust, impaired loan ratio near trough: Fitch

Fitch Ratings on Monday said Indian banks have performed robustly in the first nine months of the current financial year with the sector's impaired loan ratio close to the trough. In its commentary, Fitch said improvements in key performance metrics of Indian banks in the past few years will provide strong support for their Viability Ratings (VRs). The global rating agency also said that Indian banks' risk appetites have been more calibrated since 2018, with efforts to diversify loans and improve the quality of corporate exposures contributing to lower bad loan formation. Lower legacy bad loans drove improvement in banks' gross impaired loan ratios and earnings, Fitch said. However, these risk enhancements have yet to be fully tested, and banks have tended to vary risk appetite through cycles, such as growth in unsecured personal loans in recent years until regulatory measures discouraged this behaviour, Fitch noted. "Indian banks performed robustly in the first nine months of the

Tighter lending norms stymie Indian banks' loan growth for 7th month

Including the merger impact, loans grew 11.4% last month, compared with 20.3% in the year-ago period

Green loan expansion can boost loan portfolios of Indian banks: IIM study

The IIM Lucknow study seeks to address this gap by designing a framework to identify non-carbon-intensive sectors and assess their impact on loan portfolio quality

Banks offering more green loans have better financial stability: IIM study

Banks that have a greater proportion of green loans experience long-term improvements in financial stability, according to research by the Indian Institute of Management (IIM), Lucknow. The study published in the prestigious Finance Research Letters journal found that expansion of non-carbon intensive lending can improve the core of loan portfolios of Indian banks. The findings underscore the strategic importance of sustainable lending in the Indian banking system. A green loan is a form of financing that enables borrowers to use the proceeds to exclusively fund projects that make a substantial contribution to an environmental objective. According to Vikas Srivastava, ONGC Chair Professor, IIM Lucknow, despite global initiatives to create uniform frameworks for green lending, there are significant gaps in providing incentives, particularly in developing economies such as India. "Most Indian banks are heavily dependent on lending to carbon-intensive industries as there is no clear

Customers panic as RBI bans withdrawals from New India Co-operative Bank

RBI imposed severe restrictions on New India Co-operative Bank, including a ban on withdrawals for six months, due to concerns over the bank's financial stability

Liquidity easing to moderate pressure on banks' net interest margins: Fitch

The Indian banking sector's NIM remains healthy at 3.5 per cent as of the first half of FY25, although it has declined from about 3.6 per cent in FY24, partly due to the upward repricing of deposits

Banks' margins to take 10 bps hit in FY26 due to rate cuts: Fitch Ratings

Last week, the RBI started its rate-cutting cycle by lowering its key policy rate by 25 bps to 6.25 per cent and said it would be watchful and proactive with liquidity measures

Why RBI has asked banks to change their internet domain name to 'bank.in'?

The Reserve Bank of India (RBI) announced the launch of two domains: '.bank.in' for all Indian banks and 'fin.in' for NBFCs

India remains a strategically important country for foreign banks: CEOs

India's growth requires foreign capital, which can come via FDI and supply chain diversification

Bank holidays in February 2025: Banks to remain closed on these days

A list of bank holidays in February 2025 has been released by the Reserve Bank of India (RBI). Due to regional festivals, banks will be closed for 14 days next month

Banks must adapt to technology quickly, ensure resilience: DFS Secy

Financial Services Secretary M Nagaraju on Friday said banks must adopt rapid technological changes, modernise core systems, and prioritise compliance and risk measures to ensure resilience amid global challenges. In a virtual keynote address at the IBA's 20th Annual Banking Technology Conference, Expo & Citations - 2025 conference on Future Ready Banking for Viksit Bharat, he emphasised that technological advances like DPI and Unified Lending Interface are empowering financial inclusion. "Banks must adapt to rapid changes, modernise core systems, and prioritise compliance and risk measures to ensure resilience amid global challenges," he said. Scaling up globally competitive banks, closing credit gaps, and expanding insurance and pension coverage are critical to realising the vision of Viksit Bharat by 2047, he said. The financial services secretary also highlighted India's evolving financial landscape, driven by innovations like JAM, UPI, and ONDC. Emphasising AI/ML's role, he .

Indian Banks Must Rethink CCM as a Growth Engine in 2025

Financial transactional updates win the battle of eyeballs even in this era of shrinking attention span. They have a huge potential to become a strategic asset for banks.