Private banks collected Rs 4,948.71 crore in FY26 from customers for failing to maintain minimum balance in their savings and current accounts; HDFC and Axis Bank accounted for 58% of this.
RBI Governor Sanjay Malhotra says bulk of inflows is through FCNR(B) deposits; dismisses concerns that inflows represent recycling of existing deposits.
Bank of Baroda says bank’s core banking systems not accessed and continue to remain secure; breached data includes customer details and identification documents, says cybersecurity activist Srikanth.
In an unusual development, HDFC Bank CEO Sashidhar Jagdishan, CFO Srinivasan Vaidyanathan and retail assets group head Arvind Vohra are imposed a penalty of Rs 1 lakh in MSRDC case.
PNB’s Q1 net up threefold; to increase focus on low-cost deposits, shedding of low-yielding advances and deployment of AI-powered solutions while mobilising FCNR(B) deposits in FY27.
MoS for Finance Pankaj Chaudhary said 18,021 complaints against banks regarding recovery agencies had more than doubled in FY26 over year-ago.
Banks, NBFCs, ARCs, credit information companies and other regulated entities should set up processes to manage data risk.
RBI approves Mahesh Muralidhar Pai’s appointment as MD and CEO of South Indian Bank for three years, effective 1 October; he is currently CGM at Canara Bank.
Punjab & Sind Bank receives licence from IFSCA to establish an IBU at GIFT City, Gandhinagar.
Retail and MSME loans see above-average growth and asset quality remains contained; risks may increase due to conflict in West Asia and borrower cash flows can get impacted, says RBI in Financial Stability Report.
RBI sticks to Rs 1 lakh crore and above as definition for upper-layer NBFCs; Tata Sons listing a must under this but silence on indirect receipt of funds provides hope of a skip.
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.
