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.
Consumer loans are getting costlier; Bank of Baroda, Canara Bank and UCO Bank raise their benchmark marginal cost of fund-based lending rate across tenures.
RBI Governor Shaktikanta Das said cheque-clearing cycle will reduce from the current two business days to a few hours.
Union Bank of India is offering a special interest of 7.4% to regular citizens on term deposits of 333-day tenure.
Reserve Bank of India has laid down broad principles for management of model risks in credit for banks and other regulated entities to ensure prudence and robustness.
State Bank of India has earned net profit of Rs 1.63 lakh crore in last four years compared to Rs 1.45 lakh crore for the 64 years before that, says chairman Dinesh Khara; he retires later this month.
Indian Bank has corporate loan pipeline of Rs 40,000 cr in FY25, says CEO Shanti Lal Jain; plans to sell Rs 400 cr of NPAs to ARCs.
After taking charge in 2022, Punjab National Bank CEO Atul Goel starts addressing the bad loan issue, focuses on recoveries, targets higher credit growth and mobilises deposits.
Canara Bank’s Q1 net profit stands at Rs 3,905 crore on back of strong growth in credit, recoveries and non-interest income; recovery from written-off accounts up 45.48 % YoY to Rs 1,158 crore.
With banks facing low deposit growth, SBI MD Ashwini Tewari suggests exploration of various avenues, including cut in CRR; govt could also offer tax benefits to encourage individuals to keep more money in bank deposits.
RBI has found certain banks having lakhs of accounts used as conduit for fraudulent transactions and evergreening of loans, says Deputy Governor Swaminathan.
IDFC First Bank’s rural loan book of Rs 40,000 crore offers three benefits; CEO Vaidyanathan also believes that the bank is strategically well positioned for the future.
