Public sector banks lead in loan revival as private banks fear defaulting
Public sector banks are seeing their loan book growing across all major segments agriculture, retail, MSMEs, personal loans except corporates and large businesses. On average PSBs have seen a growth anywhere between 7-13% since the pandemic.
SBI, ICICI Bank, HDFC Bank remain systemically important banks: RBI
The Reserve Bank had issued the framework for dealing with D-SIBs in July...
HDFC Bank submits outage control plan
The bank is working on multiple immediate and long-term solutions as part of its internal review. “The ...
Citi appoints Arjun Chowdhry as head of global consumer banking, India
Arjun Chowdhry will join the Asia consumer leadership team, ensuring alignment with global and regional priorities and attracting the right talent to build world class teams, the leading global bank said in a press release on Monday. Chowdhry will report to Ashu Khullar, CEO, Citi India and Fabio Fontainha, APAC and EMEA head of retail banking.
Banks parked Rs 2 trillion excess cash amid RBI signalling
The cut-off yield, above which banks cannot claim a rate for parking excess cash, was at 3.55 percent. That was higher than the average market expectations, dealers said.
IDFC First Bank enters credit card business
Generally, the annual percentage rate or the APR for other banks ranges from 34-40%. Customers can also use interest-free cash withdrawal facilities at ATMs of up to 48 days
Govt decides not to issue anymore zero coupon bonds for banks’ recapitalisation
The government had relied on zero coupon bonds for the first time last year when it used it to infuse Rs 5,500 crore in state-owned-Punjab and Sind Bank. The government had budgeted Rs 20,000 crore in FY21 towards bank recapitalisation and it is yet to decide on infusion of the balance Rs 14,500 crore.
Banks rely on farmers for new loans
Economists attribute this trend to farm sector doing better than the urban-centric sectors like industries and services during the pandemic. " Farm loans growth was broadly in line with what has been happening in the past few years" said Indranil Sengupta, chief India economist, Bank of America Securities. " But the rural and the agricultural sector has not been as much affected by the pandemic"
RBI imposes Rs 2 crore penalty on Deutsche Bank
The action, the RBI added, was based on the deficiencies in regulatory compliance and was not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. NKD CS NKD ANU ANU
Indian banking's digital drive is looking increasingly bright for banking correspondents
Thanks to their role in taking banking and financial services to the last mile, several ecommerce players are interested in tapping them to make inroads into the hinterland. Top players such as Amazon and Flipkart are trying to use the vast BC network to widen the reach of goods sold on their respective platforms. Telecom and tourism players are also exploring ways to use them to reach a wider audience pool.
View: Bad bank is a good idea, but India's debt-laden banks need a better plan
How does one make bad loans seamlessly move from banks to investors who love dealing in junk? How does one make such deals part of a normal and liquid securities market — and not merely a parking pact among bank, ARC and promoter?
The future of banking: Lessons from the DBS takeover
The credit-starved Indian market provides a opportunity for universal banks to explore and grow profitably.
Shivalik Bank gets license as Small Finance Bank
Shivalik bank has over four lakh customers and a total business size of Rs 1,800 crore as on March 31, 2020. The total advances stood at Rs 719 crore.
Bank of Baroda launches WhatsApp banking services
The lender is offering services such as balance enquiry, mini statement, cheque status enquiry, cheque book request, blocking debit card and information on products and services, among others via WhatsApp, a release said.
Post Office Savings Bank likely to be interconnected with other banks by April
The postal department during the lockdown was at the frontline to deliver essential parcels when rail, road and air traffic were grounded and continues to enhance capacity as trains are not fully operational yet, Department of Posts Secretary Pradipta Kumar Bisoi told.