Federal Reserve cuts interest rates by 50 basis points. But India’s own rate-cutting cycle will start only when RBI feels inflation has been durably tamed to reside in the target zone of 4%.
HDFC Bank is under regulatory pressure to improve credit-to-deposit ratio which has worsened post-merger; is in talks with Barclays, Citigroup, JPMorgan Chase and ICICI Bank to offload Rs 8,400 crore in loans.
The move from collaterals to cash flow-based lending will give enough traction to the growth of micro enterprises to become small and small to become medium, says SBI chairman CS Setty.
Indian Banks’ Association likely to ask RBI to reduce amount of additional funds lenders will need to set aside against some retail deposits.
Competition for deposits expected to continue for some time, says SBI chairman CS Setty; rather than rates, bank to focus more on customer service and wider network to drive deposit growth.
Reserve Bank of India is making efforts to make UPI and RuPay truly global, Governor Shaktikanta Das said, while outlining focus areas of the central bank going forward.
Taking charge at a time when SBI has touched peak profits, new chairman C S Setty says he will strive to make the bank the most valued financial institution and adopt a bottom-up approach to management.
Correction in equity markets over time can help banks get back the deposits it has ceded, SBI managing director Ashwini Kumar Tewari said.
Punjab National Bank customers can now download their account statements and interest certificates directly through WhatsApp.
SBI chairman Dinesh Khara brushes off concerns over slowing deposit growth; says bank has been able to support its strong loan book growth.
IDFC First Bank CEO Vaidyanathan expects load of high-cost legacy borrowings to fall to just Rs 5,000 cr by fiscal-end; speaks of bank’s strong deposits growth including CASA, which is a hot pot item in this market.
Launched by Canara Bank in 2013-14, Dr. Ambedkar Vidya Jyothi Scholarship Scheme has already transformed lives of 95,000 students with total disbursement of Rs 46 crore.
With consumer demand slowing and concerns being raised over the global economy, some economists say the Reserve Bank of India could consider interest rate cuts despite worries over inflation.
PNB Antah Drishti is a contactless card designed specifically for visually impaired customers who cannot use regular debit cards.
Deposits trailing behind credit growth; FM Nirmala Sitharaman says lenders should make more efforts to raise small deposits that come in “trickles” but are “bread and butter” of banking system.
