RBI to supply dollars to Indian Oil, Hindustan Petroleum and Bharat Petroleum from 12 October; slashes threshold for unbacked derivative positions from $100 mn to $5 mn.
Banks need to maintain 99% of required cash reserve ratio daily from earlier 90%, effective 16 Oct; RBI’s move aimed at tightening liquidity management.
Along with one-time joining bonus of Rs 7.35 crore in equity, Anup Bagchi's potential compensation as HDFC Bank CEO in first year could reach Rs 43.24 crore; annual remuneration of Rs 35.9 cr to consist of Rs 8.97 crore as fixed pay and Rs 26.92 cr as performance-linked variable pay.
Economists expect further tightening of up to 75 basis points to take repo rate to around 6% by end of FY27, if inflation, oil prices and geo-political conditions stay adverse.
As external hires take over HDFC Bank and Kotak Mahindra Bank, something fundamental has altered. Era of high-profile bank chieftains is giving way to new form of process-driven leadership.
Despite RBI’s 25-basis-point repo rate hike, banks may take time to raise FD rates as they have huge stock of FCNR(B) deposits; Bajaj Finance raises rates and other NBFCs are expected to follow suit.
Several banks have announced an increase in their lending rates from tomorrow, following the RBI hiking repo rate by 25 basis points. Loans will get expensive, including for home loan borrowers.
New CEO Anup Bagchi will need to resurrect HDFC Bank’s shares, accelerate loan growth, revive low-cost deposits and expand margins even as his former employer bank closes in on the leader.
RBI revises earlier provisional data and says final count of FCNR(B) deposit inflows is $132.98 bn; OFCBs and ECBs have drawn $5.32 bn and $5.30 until 18 September.
A wider debate has centred around the ending of UPI’s free era. Govt says 96% of daily UPI transactions remain untouched. Critics say it will lead to price rise and impact biz growth. Who gains and who loses?
Recovery from written off accounts stands at Rs 1.83 lakh cr in last 5 financial years, translating to 35.24% of the value. Top five banks account for 70.99% of public sector banks’ loan write-offs. Wilful defaulters owe Rs 2.85 lakh crore to PSBs.
After resignation of Atanu Chakraborty, Sashidhar Jagdishan was out to demonstrate that nothing was wrong at HDFC Bank. What made him back off? Kaizad Bharucha is one of names floating to occupy CEO chair as bank enters new phase of leadership transition.
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.
Bank of Baroda reaches an out-of-court settlement with NMC group and its administrators in Abu Dhabi and London.
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.
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.
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%.
IDFC First Bank Q1 net more than doubles over year-ago period to Rs 1,075 crore; lender targets 2.5% share in FCNR(B) deposits under RBI’s swap window.
RBI bought $22.2 bn and sold $28.3 bn in May; rupee sank to record low of 96.96 per dollar on 20 May amid surge in oil prices.