Bank of Maharashtra’s total biz crosses Rs 5 lakh crore for first time; loan growth up 21% in Q3 to Rs 2.28 lakh cr despite tighter underwriting standards.
Punjab & Sind Bank is poised to clock net profit of over Rs 1,000 crore this fiscal, CEO Swarup Kumar Saha said.
RBI asks NPCI to develop facility to allow customers using RTGS and NEFT to verify name of bank account to which money is being transferred before initiating the transaction; this is to avoid mistakes and prevent frauds.
Total number of employees of private banks surpassed that of public sector banks during 2023-24 but their attrition has increased sharply over the last three years, RBI said.
The six steps suggested by industry body CII include reduction in excise duty on fuel, cutting personal income tax rates for individuals and increasing daily wages under MGNREGS.
Banking fraud cases in India rise 27% to 18,461 in H1FY25; amount jumps eight-fold to Rs 21,367 crore, RBI data showed.
Indian banks improve their profitability for sixth consecutive year in 2023-24 while their gross bad loan ratio drops to 13-year low, RBI data shows.
Enforcement Directorate has restored properties worth Rs 22,280 crore from fugitive Vijay Mallya to Nirav Modi, Mehul Choksi and others, Finance Minister Nirmala Sitharaman said.
After review, RBI was satisfied that ECL Finance and Edelweiss ARC have taken the necessary remedial actions and committed to comply with regulatory guidelines on an ongoing basis.
Gross NPAs of public sector banks has fallen from peak of 14.98% in March 2018 to decade low of 3.12% in September 2024.
A committee under SBI will examine and submit a fresh list of stressed accounts with banks for transfer to NCLT; NARCL has acquired 22 accounts with exposure of Rs 95,711 crore.
During April-September period of current fiscal, public sector banks recovered Rs 37,253 crore of bad loans.
IDFC First Bank CEO Vaidyanathan expects load of high-cost legacy borrowings to fall to just Rs 5,000 cr by fiscal-end; speaks of bank’s strong deposits growth including CASA, which is a hot pot item in this market.
Correction in equity markets over time can help banks get back the deposits it has ceded, SBI managing director Ashwini Kumar Tewari said.
The move from collaterals to cash flow-based lending will give enough traction to the growth of micro enterprises to become small and small to become medium, says SBI chairman CS Setty.
The 6.75% interest rate offer is for deposits with tenures ranging from seven to 180 days; there is no penalty for early withdrawal.
SBI lowers deposit growth forecast to 10%-11% but retains credit growth guidance at 14-16% for FY25; bank to stay away from deposit rate war and margins to remain stable, says chairman CS Setty.