SC verdict sets aside 2008 ruling of National Consumer Disputes Redressal Commission that had capped maximum interest chargeable by banks at 30% per annum for late credit card bill payments.
Reserve Bank of India imposes penalty of Rs 27.30 lakh on IndusInd Bank for non-compliance with certain provisions of norms related to 'interest rate on deposits'.
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.
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.
Repo rate stays put at 6.5% for 11th straight time; RBI cuts CRR by 50 basis points and revises GDP and inflation forecast for FY25.
Pressure to dial interest rates down intensifies after GDP growth slows to shocking 5.4%; will inflation at 14-month high of 6.2% be deciding factor as MPC meets amid uncertainty over tenure of RBI Governor Shaktikanta Das?
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.
Among top 10 banks in terms of highest amount of loans written off in FY24, six report increase; Union Bank of India, SBI, Bank of Baroda and Central Bank of India buck the trend.
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.