RBI allows banks to increase charges on ATM cash withdrawals beyond free monthly usage by Rs 2 to Rs 23 per transaction from May 1.
RBI makes major changes in priority sector lending norms, including raising loan limits for housing and renewable energy.
PwC’s external audit report will help determine who is responsible for accounting discrepancy in IndusInd Bank, says Ashok Hinduja; lender has not sought any fresh capital from promoters.
Highest write off of Rs 2,36,265 cr was in 2018-19 and lowest of Rs 58,786 cr was in 2014-15 in the last decade; in FY24, write off amount was Rs 1,70,270 cr.
RBI assures depositors that there is no need to react to speculative reports at this juncture; directs IndusInd Bank's board to complete remedial action in Q4 following Rs 2,100 crore accounting discrepancy disclosed by private lender.
Sanjay Malhotra will have to guide RBI through an uncertain phase which is seeing the world redraw its politics and economics. Don't expect many interest rate cuts as he has to weigh in a wobbly rupee, trade wars, tight liquidity, inflation and financial stability.
Microfinance loan book is IDFC First Bank's 'first big isssue post-merger’ and will peak in Q4 of FY25, says MD & CEO Vaidyanathan; every other single business of the bank is doing well.
Punjab & Sind Bank is planning to up branch network to 2,000 by March 2027 as it seeks to grow retail loans. “New branches will be mainly outside Punjab where market is getting almost saturated for us,” says CEO Swarup Kumar Saha.
RBI lowers risk weights for banks on consumer microfinance loans by 25 percentage points to 100%; move to release more funds and boost credit at a time when the economy is facing slowdown in growth.
KVS Manian takes up challenge of lifting Federal Bank to top five league; pivotal decisions include scaling up beyond Kerala, driving volumes in medium-yielding biz, reducing concentration of top depositors and having play in affordable housing.
Bank of India reports loan fraud of Rs 226.84 crore by Odisha-based Gupta Power Infrastructure to the RBI; earlier, PNB had declared fraud of Rs 270.57 crore by the same company.
Hitesh Mehta, ex-GM of New India Co-operative Bank used to call two staffers and instruct them to hand over Rs 50 lakh at a time from the bank's safes to persons he sent; police has also arrested former CEO of the bank.
During April-September period of current fiscal, public sector banks recovered Rs 37,253 crore of bad loans.
Gross NPAs of private sector banks stood at Rs 1.34 lakh crore as on 30 September 2024, said MoS for Finance Pankaj Chaudhary; this as percentage of outstanding loan is 1.86% in private sector banks.
Canara Bank MD & CEO Satyanarayana Raju sheds nearly Rs 40,000 crore of low-yielding advances in corporate sector; taps alternative resources to bridge gap between credit and deposit growth and lends at higher cost.
IDFC First Bank MD & CEO V Vaidyanathan believes that none of the stories on the bank’s projected long-term growth in deposits, loans, profitability and bad loans have fundamentally changed.
Banks have seen a surge in gold loans as prices for the yellow metal have soared and the RBI has worried that aggressive lending in this segment can lead to a build-up of bad debt if irregular practices are not corrected.
Several asset reconstruction companies are struggling, a few are dead and some are set to die amid limited availability of bad loans to source and a regulatory requirement to increase their net worth.
Banking fraud cases in India rise 27% to 18,461 in H1FY25; amount jumps eight-fold to Rs 21,367 crore, RBI data showed.
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.
Relaxations in new circular timely as resolution of small loans via settlement process will be quicker; this when ARCs are seeing jump in retail and microfinance bad loans in their catchment area.
Indian Overseas Bank is selling 46 bad loan accounts worth Rs 11,500 cr; invites expressions of interest from ARCs.
As per RBI data, Mehul Choksi-owned Gitanjali Gems tops defaulter list, owing Rs 8,516 crore; ABG Shipyard occupies second spot with outstanding amount of Rs 4,684 crore.
State Bank of India posts net profit of Rs16,891 crore in Q3, but margins are lower and deposit mobilisation stays weak; chairman Setty is confident that credit growth will be 14-16% in FY25.