RBI slaps fines on private lenders for deficiencies in regulatory compliance; Axis Bank to pay penalty of Rs 93 lakh and IDBI Bank Rs 90 lakh.
RBI lowers India's GDP growth for FY23 to 7.2% from its earlier guidance of 7.8% in backdrop of Russia-Ukraine war.
RBI proposes to make cardless cash withdrawal facility available across all banks and ATM networks using the UPI.
The RBI announced its bi-monthly monetary policy today. Here are the highlights, including on inflation and GDP forecast.
“In sequence of priorities, we have now put inflation before growth. Time is appropriate to prioritise inflation ahead of growth,” RBI Governor Shaktikanta Das said.
HDFC Bank board will consider a proposal for raising up to Rs 50,000 crore over the next 12 months, making it the country’s largest bond sale ever by a lender.
DCB Bank is planning to open 25 to 30 branches in the next 12 months, with Delhi NCR being one of the major areas of expansion.
RBI approves re-appointment of Murali M Natrajan as MD and CEO of DCB Bank for a further period of two years from April 29, 2022 to April 28, 2024.
Bandhan Financial Holdings-led consortium, including ChrysCapital and Singapore’s sovereign fund GIC, will acquire IDFC AMC for Rs 4,500 crore; deal to mark entry of Bandhan into mutual fund biz.
Banks have failed to meet the 31 March deadline to transfer Rs 50,000 crore of bad loans to NARCL due to procedural delay, Union Bank of India CEO Rajkiran Rai said.
HDFC Ltd Keki Mistry to also step down, but he may be on board of merged entity helping it to take off to next stage of growth.
HDFC Bank’s Q4 loan book up 21% to Rs 13.69 lakh crore; deposits rise 17% to Rs 15.59 lakh crore.
Two-day strike has impacted banking services and about 20 lakh cheques worth Rs 18,000 crore could not be cleared, said AIBEA general secretary C H Venkatachallam.
Punjab National Bank’s board approves plan to raise capital via issue of Basel III compliant AT-1 bonds up to Rs 5,500 crore and tier II bonds up to Rs 6,500 crore, in one or more tranches.
Trade unions of banks have responded to the government’s privatisation policy with a two-day strike, which crippled banking services and caused cash shortages at ATMs on Monday.
