S&P’s investment-grade rating comes at a time when IDFC First Bank is preparing to raise overseas capital, RBI has opened swap window for FCNR(B) deposits and lender is chasing faster growth.
Banks add $13.10 bn to FCNR(B) deposits collection box in just 8 days; total mobilisation under RBI’s three concessional swap facilities stand at $72.85 bn until 21 August.
Bank of Baroda’s write-off of Rs 35,715 cr is over six years involving borrowers with outstanding dues of Rs 100 crore and above; recovery from such accounts is just Rs 9,946 cr.
Monetary policy committee members to back repo rate hike if inflationary pressures persist and oil prices continue to climb, minutes of meeting showed.
During the week, ICICI Bank, Kotak Mahindra Bank, IDFC First Bank, HDFC Bank and Bank of Baroda raise $4.4 bn.
RBI advances by a month the closure of its special FCNR(B) deposit swap facility after inflows cross over $50 bn; announcement comes days after RBI Governor Sanjay Malhotra says no proposal to prematuredly end the special scheme.
Early closure of FCNR(B) deposits swap window and oil prices rising close to $90 per barrel sends rupee diving to low of 95.61 a dollar; sharper fall arrested by RBI’s market interventions.
Bank write-offs hit high of Rs 1,48,753 crore in FY19 and sharply fall to Rs 20,485 crore in FY26, MoS for Finance Pankaj Chaudhary says.
After mopping up $6bn, SBI expects to add $4bn in final two months of RBI’s swap window. Is demand for FCNR(B) deposits slowing amid over-dependence on ME and tax issues in other states? SBI Chairman Setty says flows are more spread out, unlike in 2013.
SBI Chairman admits it is too late to catch up with entrenched players like PhonePe and Google Pay who dominate UPI market; YONO Pay is trying to get at least its own customers to use the platform.
Repo rate remains unchanged at 5.25% for 4th consecutive time; inflation forecast lowered to 5% for FY27 and GDP growth increased to 6.7%.
Banks’ combined stock of FCNR(B) deposit outstanding stands at $60.55 bn as on 30 July, up from $32.56 bn on 5 June 2026; SBI, HSBC and ICICI Bank lead the ship.
Sanjay Malhotra and the MPC members may find small space for an interest rate pause this time but a credit cycle reversal is inevitable down the line.
SBI delivers mixed performance in Q4 with loan growth strong but margins seeing contraction; Chairman CS Setty sticks to FY27 guidance on loan growth and domestic NIM.