Union Bank of India has mobilised Rs 17.58 crore in 5,653 Mahila Samman Savings Certificate beneficiary accounts, after introducing it on 30 June.
Bank of Maharashtra sees 25% growth both on the credit and deposit side; total business touches Rs 4.19 crore, up 24.82%.
Bank of Baroda plans to sell up to 49% stake in its credit card business arm, BOB Financial Solutions Ltd.
Given the bank’s profitability, asset quality and capital position, HDFC Bank CEO Sashidar Jagdishan says the aim is to add another HDFC Bank every four years.
Profit of public sector banks in last nine years triples to Rs 1.04 lakh crore due to initiatives taken by government, FM Nirmala Sitharaman said.
After 45 years of running HDFC and overseeing growth of India’s largest private sector bank from its birth days, Deepak Parekh decides to hang up his boots. He leaves behind a rich legacy.
The new HDFC Bank entity will rank fourth in equity market capitalisation, behind JPMorgan Chase & Co, Industrial and Commercial Bank of China and Bank of America.
Interest rates of schemes like 1-and 2-year post office time deposit and 5-year recurring deposits have been raised; PPF remains unchanged at 7.1%.
Share of loans bearing over 9% interest rate rose to 56.1% in March 2023 from 31.4% a year ago, data from RBI showed.
Retail loans have grown faster and share of large borrowers in gross advances have declined over last three years, RBI’s Financial Stability Report shows.
Bad debt from credit card receivables in private sector banks remained broadly flat at 1.9% while it was 1.8% for foreign banks, RBI’s Financial Stability Report said.
Banks see credit growth of 15.4% on 2 June 2023, according to RBI’s Financial Stability Report; deposit growth stands at 11.8%.
Indian economy makes solid recovery and is among fastest-growing large economies despite formidable headwinds, says RBI Governor Shaktikanta Das.
Despite sudden surge in liquidity, bank deposit rates are unlikely to fall while borrowing costs could continue to face upward bias in FY24, says India Ratings and Research.
RBI says compromise settlement with wilful defaulters has existed for more than 15 years; latest circular only aims at tightening existing norms.
