SBI aims to strike a deal by end-March for the sale of its 24% stake worth Rs 18,420 crore in Yes Bank.
Reserve Bank of India has imposed penalties on CSB Bank, Union Bank of India and Muthoot Housing Finance, for violation of various regulatory guidelines.
HDFC Bank’s Sashidhar Jagdishan is top paid bank CEO with remuneration of Rs 10.77 cr; salary hikes of heads modest in FY24.
RBI puts housing finance companies at par with NBFCs; HFCs need to maintain higher liquid assets to back public deposits.
Banking Laws (Amendment) Bill, 2024, introduced in Lok Sabha; among other changes, it proposes to allow customers of banks to name up to four nominees to their accounts.
RBI keeps repo rate unchanged at 6.5% for 9th consecutive time; retains growth and inflation forecast for FY25 at 7.2% and 4.5% respectively.
While offering top-up loans, certain banks and NBFCs have not strictly adhered to regulatory prescriptions relating to loan to value ratio, risk weights and monitoring of end-use of funds; RBI asks lenders to review such practices and take remedial action.
Govt of India appoints Challa Sreenivasulu Setty as next chairman of State Bank of India; his three-year tenure comes into effect from 28 August.
Recovery against Rs 9.90 lakh crore loan write-off was just Rs 1.84 lakh crore during last five financial years; write-off was highest at Rs 2.34 lakh crore in FY20.
Union Bank of India pays highest compensation of Rs 74.96 crore in FY24, followed by Bank of India at Rs 20.38 crore and Indian Bank at Rs 16.16 crore, says Finance Minister Nirmala Sitharaman.
Rupee depreciates by 11 paise on Tuesday to touch record low of 83.95 against US dollar amid pullout of global funds from Indian markets; drop also due to fears of recession in US and unwinding of yen carry trade.
Public sector banks’ NPAs on Mudra loans fell significantly over last few years to 3.4% in FY24, FM Nirmala Sitharaman said; in private sector banks, this fell to 0.95% from a peak of 1.77% in FY21.
Customers of several co-operative banks and regional rural banks were not able to access payments services like withdrawing cash at ATMs or using UPI due to a ransomware attack at C-Edge Technologies.
Non-bank payment system operators will have to put in place a real-time fraud monitoring solution to identify suspicious transactional behaviour and generate alerts, RBI said.
Govt mopped up Rs 98,681 crore from long term capital gains tax on listed equities in FY23, up 15% over the year-ago period.
