Punjab National Bank reports fraud of Rs 270.57 crore by Odisha-based Gupta Power Infrastructure to the RBI; loan was given by bank’s Station Square branch in Bhubaneswar.
New India Cooperative Bank official arrested for allegedly embezzling Rs 122 crore has admitted to giving Rs 70 crore to a real estate developer to complete an SRA project in Charkop in Kandivali.
Private lender Karnataka Bank has requested for reversal of suspicious cross border UPI transaction of Rs 18.87 crore to the Reserve Bank of India.
Minister of state for corporate affairs Harsh Malhotra also said that 2,707 cases have ended in liquidation orders.
RBI-led MPC lowers repo rate by 25 bps to 6.25%; GDP growth rate expected to be at at 6.7% in FY26 while inflation is projected to fall to 4.2%.
Implementation of liquidity coverage ratio, project finance and expected credit loss norms deferred by at least a year; central bank to keep in view benefits and costs of every regulation, says RBI Governor Sanjay Malhotra.
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.
RBI to take steps to inject liquidity into banking system, including purchase of government securities worth Rs 60,000 crore in three tranches.
ICICI Bank Q3 net profit jumps to Rs 11,792 crore; slippages in retail and rural credit see a rise.
AU SFB has already applied to RBI for transition to universal bank; Jana SFB is expected to also apply in the current calendar year.
Kotak Mahindra Bank completes acquisition of Rs 3,300 crore personal loan book of Standard Chartered Bank following regulatory approvals.
HDFC Bank CFO Srinivasan Vaidyanathan says bank to regain market share and grow loans higher than system in FY27, after bringing down CD ratio.
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.
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.
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.