Vaidyanathan readies IDFC First Bank for takeoff

IDFC First Bank MD & CEO Vaidyanathan has worked successfully on five fundamental business requirements of the bank. Now he has bet on cricket sponsorship rights as he plans to take the bank to its next phase of growth.

‘We wait for her to come on 15th of every month’

SBI’s customer service point in remote Jodamba provides basic banking services to villages of four panchayats as nearest branch is 70 km away. Burunda Pangi handles the CSP and travels across this region where Naxalites were once active to distribute old age pension of Rs 500 to villagers. 


Banks will have to work on deposit rates in 2024

Pressure on deposit rates to continue; several reasons free it from shadow of a flattened repo rate as banks prepare for a volatile market amid tight liquidity conditions. 

IBC needs ‘some course correction’, says RBI Governor

Lenders have recovered 32% of their total claims under the IBC, says RBI Governor Shaktikanta Das; learnings from IBC suggest need for some course correction.


SBI’s expansion plans to unbanked pockets in Odisha

SBI plans to add 1,561 customer service points, located in the unbanked gram panchayats of Odisha; state government to provide infrastructure.


RBI issues fresh guidelines on unclaimed deposits, inoperative accounts

Under the new RBI guidelines, banks will have to undertake special drives periodically to find out whereabouts of customers with such accounts.


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Will PSU banks see another wave of mergers?

Govt document, shared on X, triggers speculation that Union Bank of India and UCO Bank could possibly merger while Bank of Maharashtra and Bank of India could get together; govt later revises letter to end speculation.

SBI, HDFC Bank, ICICI Bank in RBI’s systematically important bank list

In RBI’s list of systematically important banks, SBI and HDFC Bank move up a ladder and will have to maintain higher capital; ICICI Bank retains same bucket as last year.


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Banks’ asset quality improves to 10-year high: RBI

Consolidated balance sheet of banks expanded by 12.2% in FY23, the highest in nine years; this was driven by credit to retail and services sectors, says RBI.


RBI targets evergreening of loans via AIFs, tightens norms

RBI bars banks and NBFCs from investing in any scheme of alternative investment funds linked to borrowing companies.



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