RBI says it will gradually phase out incremental cash reserve ratio, a liquidity-draining out measure which required banks to park an additional 10% of their fresh deposits with the central bank.
After launching public tech platform for frictionless credit delivery, RBI mulls handing it over to a private company as it did with NPCI.
The asset valuer will have to conduct a valuation of IDBI Bank’s assets and provide assistance in the sale process of the lender.
With its instant settlement feature, CBDCs can play an important role in making cross-border payments cheaper, faster and more secure, RBI Governor Shaktikanta Das said.
Large-scale demand for housing pushes bank credit to real estate sector to annual growth of 38% in July, as per RBI data.
As part of sequencing of three top-level departures, Uday Kotak resigns as MD and CEO of Kotak Mahindra Bank four months ahead of RBI’s deadline.
Uday Kotak narrates his 38-year journey since institution was founded with three employees in Fort, Mumbai. Here is full text of his resignation letter.
The Kotak Mahindra group, founded by Uday Kotak in 1985, began its financial services journey with a bill discounting business in 1985. Here is the growth story of Kotak Mahindra Bank.
Government and IBA are sticking to hard stance of not revising old pension scheme for bank employees despite corpus for it rising and roll count falling, says Raghavan.
There are enough indicative trends to show that RBI is most unlikely to go for an interest-rate cut in the current financial year.
Bankers say RBI’s move to hike incremental CRR to 10% will be an opportunity loss to banks; impact of few basis points to be felt on short-term rates in bond markets.
HDFC Bank CEO Sashidhar Jagdishan speaks of funding risk, impact on NIM and growth opportunities; says bank’s philosophy has always been not to compromise growth for profitability.
RBI Governor Shaktikanta Das explains on central bank’s decision to retain repo rate at 6.50%, revise inflation rate projection for FY24 and increase incremental CRR as a measure to absorb surplus liquidity.
Renewal of government guarantee comes after a gap and is set to restart flow of NPA accounts of banks to NARCL; movement will, however, depend on other factors like right pricing.
Largest amount of Rs 21,044.4 crore has come on account of non-maintenance of minimum balance; major banks also collect over Rs 8,000 crore for ATM transactions beyond free numbers since 2018.
