IndusInd Bank’s internal audit department also finds Rs 674 crore has been incorrectly recorded as interest in the microfinance loan book over three quarters of FY25.
Sumitomo Mitsui Banking Corporation is acquiring 20% stake in Yes Bank for Rs 13,482 crore, making it largest cross-border M&A deal in India's financial sector; SBI and 7 others to sell.
IndusInd Bank’s top two executives traded in its shares while being aware of accounting lapses at the bank in its derivatives portfolio but before those were made public, an audit report by Grant Thornton has found.
Union Bank of India’s top management lands into trouble for an unusually large book order worth Rs 7.25 crore with Rupa Publications; CEO Manimekhalai may not get an extension.
SBI anticipates loan growth to moderate to 12-13% in FY26 from an earlier guidance of 14-16%; lending margins would also remain under pressure as RBI is expected to cut repo rate further, chairman Setty said.
SBI accounts for over 40% of total earnings of state-owned banks in FY25; as per percentage increase, PNB reports highest net profit growth of 102% while Punjab & Sind Bank comes second.
IndusInd Bank has not quite gathered the dirt of Yes Bank when it sank in 2020; bank’s fault line is currently restricted to discrepancies in forex derivatives accounting and not to spike in bad loans.
The affiliate firms of Warburg Pincus and ADIA will own 15% stake in IDFC First Bank; fund raise will fuel lender's next phase of growth.
Impact represents 2.27% of IndusInd Bank’s net worth as of December 2024, according to external agency’s audit report; this is lower than bank’s earlier internal review estimate of 2.35% impact.
Only few private sector banks have responded early to repo cut as deposits lagging behind loan growth is a constraint; RBI’s assurance of liquidity surplus may encourage more banks to cut deposit rates.
IndusInd Bank's share price goes diving after discrepancies in accounting of derivatives portfolio come to light. Here is how and what happened to the country’s fifth-largest private sector bank.
Amid missed targets, liquidity crunch and market slide, most banks have seen deposits lag behind loan growth in the March quarter.
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.
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.
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.
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.
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.
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.
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.