Some customers were offered lower interest rates by market participants but we decided not to cut ours, HDFC Bank CFO Srinivasan Vaidyanathan said in an analyst call.
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Bank of Maharashtra cuts its MCLR on loans, making it an outlier in a rising interest rate scenario. CEO Rajeev explains how this was possible.
Turnaround story executed, Yes Bank is in process of forming alternate board; 9-member board recommended and Prashant Kumar to continue as CEO for another three years.
.Indian rupee falls to all-time low of 77.63 against US dollar amid negative forces from around the world; could edge closer to 79 mark in next couple of months.
Punjab National Bank will reprice its lending and deposit rates, lower non-performing loans, elevate recoveries and transfer Rs 2,700 cr of bad loans to NARCL in first phase, said CEO Atul Kumar Goel.
State Bank of India ups ante to contract bulk term deposits of Rs 2 crore and above by raising interest rates. “If we do not act now, money could get expensive,” says SBI official.
Canara Bank is planning to float a credit card subsidiary in the next 2-3 quarters; is also open to roping in a partner in the venture.
As RBI begins an aggressive rate hike cycle, banks will reprice their risks; inflation may continue to remain high for some time.
Even as RBI Governor Shaktikanta Das announced a sharp hike in repo rate and CRR, hell broke loose and there was panic selling in the bond and equity markets.
RBI hikes repo rate by 40 basis points to contain inflation; CRR raised by 50 bps to suck out Rs 87,000-crore of liquidity in banking system.
Home, auto and corporate loans will get costlier as banks start hiking their lending rates despite RBI leaving repo rate unchanged.
HDFC Bank plans to add between 700 and 1,000 branches a year to improve its deposit franchise even as it awaits regulatory approval for the merger of its parent, HDFC Ltd, with itself.
Governments across world are working on digital currencies but pace has got accelerated after war in Ukraine and imposition of sanctions against Russia, writes Hargovind Sachdev from New York.
After a long spell of low interest rate regime, India may be inching to a higher loan pricing structure; this would include deposit rates and corporate loans.
RBI introduces standing deposit facility at interest rate of 3.75%. While this is set to suck out excess liquidity in system, RBI restores LAF corridor and marginal standing facility at 4.25%.
