Page 8 - Indian Banks

Q2 result preview: Bank PAT growth may slow to 10% on margin pressure

Moderating credit growth, rising deposit cost likely to weigh on net interest income

Banks to rely on certificates of deposit to fund credit demand: Officials

Certificates of deposit (CDs) are debt instruments with maturities of less than one year issued by banks

Home loan origination volumes decline 9% in June quarter, says report

Home loan originations dropped 9 per cent in the June quarter, according to a report released on Monday. From a value perspective, quantum of home loan originations was at par with the year-ago period, the report by credit information company Transunion Cibil said. The outstanding balances on home loans grew only 14 per cent during the quarter, making it the slowest growth across all categories which constitute retail lending, the report said. Interestingly, the decline in origination volumes and the sluggish growth in outstanding balances came at a time when the incidence of non-payment of loans reduced during the quarter, the report said, pointing out that the advances overdue for over 90 days stood at 0.9 per cent in June 2024, showing a 0.32 per cent improvement. "India's retail credit growth moderated in the quarter ending June 2024 as financial institutions tightened the supply of credit, particularly on consumption-led products like credit cards, consumer durable loans and .

Banks to play major role in making India developed by 2047: FM Sitharaman

Finance Minister Nirmala Sitharaman on Thursday said the banking sector will have to play a crucial role in driving the agenda of making India a developed nation or Viksit Bharat by 2047. The Finance Minister was speaking at an event here to mark the 90th Foundation Day of the Bank of Maharashtra, a public sector lender. "Banks will have to play a crucial role in driving the agenda set by the Prime Minister and by your role, we are going to give greater momentum to achieving this dream," she said. Sitharaman said banks will be required to give strong momentum to the infrastructure sector, ensure the availability of need-based funding to MSMEs, bring unbanked population under the ambit of formal banking channels, and help increase insurance penetration. She noted that technology is changing the banking landscape as it provides a secure and easy-to-navigate digital banking experience to all customers. However, she added that "you (banks) cannot have a digital system which somewhere

Casa ratio of banks may fall to pre-Covid level: SBI chief CS Setty

But Setty says SBI will hold on to current share by tapping small businesses

Banks, FIs to invest Rs 32.5 trillion in renewable energy by 2030: Centre

RE project developers commit 570 GW of capacity addition

Eid-e-Milad 2024 bank holiday: Are banks closed today? Check details

On September 16, public and private sector banks are closed in multiple states on the occasion of Eid-e-Milad. Here's all you need to know

Indian Bank raises Rs 5,000 crore via long-term infrastructure bonds

This strategic move is part of Indian Bank's efforts to mobilise resources for credit growth and refinancing of infrastructure projects

Nomura cuts target prices for Axis Bank, SBI and BoB ahead of Fed meeting

Analysts at Nomura suggested that larger private banks are likely to experience a greater negative impact on their NIMs from the potential US Fed rate cuts compared to mid-sized & smaller banks.

IBA likely to seek easing of proposed norms for retail deposits: Report

The RBI had sought feedback on the proposal until Aug 31, after which it would finalise them for implementation from April 2025

SBI working on new version of digital banking platform: Dinesh Khara

Former SBI Chairperson Dinesh Khara on Thursday said the country's largest lender is working on a new version of its digital banking platform to take care of its customers' requirements and preferences. In his special address at the Global Fintech Fest 2024 here, Khara, who superannuated on Thursday, also said that a banker should always keep risks in mind, even though people tend to ignore the risk but that shouldn't happen. "We had envisaged YONO only as a retail solution and initially it was thought to replace internet banking but when we launched it, we thought that it should be much more than that, (as) it serves all banking and financial needs today. We're working on YONO 2.0 where it should be made more modular and faster in terms of processing," Khara said. Stating that YONO has 80 million registered users today with almost 10 million users logging in at the platform each day, he said in many respects, it would be a record of sorts across the globe. Last year, the platform

Foreign lenders lured by stake sales in Indian banks, face tighter rules

Banking sector deals in India, especially those involving foreign entities, are rare

Indian banks spending less on cybersecurity than global peers, says BCG

Digital payment frauds saw a more than fivefold jump to Rs 1,460 crore ($175 million) in the year ended March 2024 from the previous year

Nifty Bank & Private Bank: Check support, resistance and other details here

The Nifty Bank Index is currently exhibiting a bullish trend on the charts, suggesting a positive outlook for the near term.

Debt exposure of domestic banks and NBFCs in Adani Group increase to 36%

Indian lenders, including domestic banks and non-banking financial companies, have extended Rs 88,100 crore to the Adani Group, out of its total debt of Rs 2,41,394 crore as of March 31, 2024

Banks' borrowings in India crosses Rs 9 trillion-mark in July: RBI

Bank borrowing figures for July 26 were up 20% compared to the borrowing figures of Rs 7.75 trillion for April 5

How to bridge the wide gap between banks' credit and deposit growth?

To address the issue of deposit growth trailing lending growth, which can have potential systemic risks, some banks are also adopting innovative strategies to attract deposits

RBI asks top banks to refrain from large trading bets against rupee

The Indian rupee turned into the worst-performing Asian currency over the last month, pressured by the unwinding of trades that used the Chinese yuan to fund long bets on the local currency

Banks write off loans worth Rs 9.90 trillion in last 5 years: Govt in RS

Banks have written off loans worth Rs 9.90 lakh crore in the last five financial years, Parliament was informed on Tuesday. During 2023-24, banks loan write off was at Rs 1.70 lakh crore, as against Rs 2.08 lakh crore in the previous fiscal, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Rajya Sabha. Write-off was highest at Rs 2.34 lakh crore during 2019-20, which came down to Rs 2.02 lakh crore in the following year and to Rs 1.74 lakh crore in 2021-22. As per the RBI guidelines and policy approved by banks' boards, NPAs, including those in respect of which full provisioning has been made on completion of four years, are removed from the balance-sheet of the bank concerned by way of write-off, he said. "Banks evaluate/consider the impact of write-offs as part of their regular exercise to clean up their balance-sheet, avail tax benefit and optimise capital, in accordance with the said guidelines and policies of the respective boards," he said in a re

Discouraging retail play in F&O may help banks attract more deposits: Khara

Regulatory moves discouraging retail investors' derivative market bets may help the banking system garner the much-needed deposits, SBI Chairman Dinesh Kumar Khara has said. Khara said the budget announcements like the tweaks on the short-term and long-term capital gains will not lead to much gains from a deposit accretion perspective. "F&O (future and options) kind of things are being discouraged for the retail (investor) by the regulator. Those who are resorting to such kind of an instrument, they might come back to the banking system," Khara told PTI over the weekend. It can be noted that concerns over losses incurred by 90 per cent of investors in the derivative trades have led to fears of household savings being blown in speculation rather than being deployed for productive purposes among policymakers. As per capital markets regulator Sebi, retail investors lost Rs 52,000 crore in such activity in FY24 alone which necessitates a clampdown. Sebi has come up with a seven-point