The action was taken based on significant concerns found in RBI's IT examination for 2022 and 2023 and the continued failure on part of the bank to address these concerns in a comprehensive and timely manner.
Bombay HC's verdict would render all look out circulars issued by public sector banks against defaulters as quashed.
HDFC Bank CEO Sashidhar Jagdishan says lender will not use pricing to crank up pace of deposit growth; focus will be on improvement of profitability matrix.
Ajith Kumar gets RBI approval to be new managing director and CEO of Dhanlaxmi Bank; he succeeds JK Shivan.
Depositors will soon be able to use UPI to deposit cash at cash deposit machines installed at ATMs and bank branches.
Several Axis Bank credit card customers witnessed unauthorised transactions where they received transaction alerts on certain low-value purchases being carried out at some e-commerce sites.
Gurubari Sisa often remembers the dreadful night when Naxalites pounded blows on her eldest son. SBI’s customer service person travels up the hills to deliver Sisa’s monthly pension of Rs 500 as she is unable to walk.
BJP tops with Rs 6,986.5 crore; TMC is second-largest recipient of electoral bonds worth Rs 1,397 crore.
IDFC First Bank CEO Vaidyanathan shares vision of bank’s size in next five years even as it normalises lending growth, hooks on to strong deposit growth and keeps guard on bad loans.
Bank credit and deposits cannot keep running at very different levels for a long period of time and are likely to converge at around 13%, bankers said.
SBI should be in a position to meet wage cost as well as pension obligations by generating incremental productivity through digital route, said chairman Dinesh Khara.
Banks see dip in CASA deposits as savers shift towards term deposits due to higher interest rates, according to a survey by by Ficci and IBA.
Mobilising CASA deposits, protection of margins at 3%, reduction of NPAs, increasing yield on advances and aggressive recovery target. This is how CEO Manimekhalai wants Union Bank of India to strategically move in FY24 with operating profit the key pillar.
Bank deposits cross Rs 200 trillion milestone in 2023, with the last Rs 50 trillion being mopped up in a record two years and nine months.
Bank credit growth could moderate to 12-14% in next fiscal if deposit growth remains tepid, says S&P in a report.
IDFC First Bank MD & CEO Vaidyanathan has worked successfully on five fundamental business requirements of the bank. Now he has bet on cricket sponsorship rights as he plans to take the bank to its next phase of growth.
RBI extends pause on repo rate for sixth consecutive time; liquidity management to be two-way; inflation projected lower at 4.5% for FY25, GDP at 7%.
Pressure on deposit rates to continue; several reasons free it from shadow of a flattened repo rate as banks prepare for a volatile market amid tight liquidity conditions.
Paytm Payments Bank’s persistent non-compliance of the regulator’s norms prompted RBI to act; action was taken keeping in mind the gravity of the violation.
HDFC Bank, which has the second-largest home loan assets, has decided to strategically leverage its large size to cross-sell multiple products and boost its CASA deposits base.
RBI cancels licence of Sumerpur Mercantile Urban Cooperative Bank, Pali as the lender does not have adequate capital and earning prospects.
Canara Bank would need 2-3 months to get approval for stock split from RBI; split would make shares more affordable for retail investors and boost their shareholding.
Dilemma HDFC Bank faces today is growth versus profitability even as CD ratio is high at 110% and liquidity is tight in banking system; in post-merger scenario, bank needs deposits to outpace loan growth.
The NBFC cannot also securitise or sell any of its gold loans, as per the RBI directive.
RBI finds JM Financial indulging in various manipulations, including helping a group of its customers to bid for various IPOs by using loaned funds.
The merger is effective 1 April. All branches of Fincare Small Finance Bank will function as branches of AU Small Finance Bank.
RBI asks credit card issuers not to enter into any arrangement or agreement with card networks that restrain customers from availing services of other networks.
