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.
India’s benchmark interest rates remain unchanged at 6.5% for eighth consecutive time but more voices are growing within RBI’s rate-setting panel for easier money.
Unclaimed deposits with banks have jumped 26% year-on-year to Rs 78,213 crore at the end of March 2024, as per the RBI Annual Report.
RBI has many reasons to feel that project financing is fraught with risks; bankers say draft is hurriedly sewn and, if implemented, prices would go up all around.
Bank of Maharashtra posts highest growth rate last fiscal in terms of total business and deposit mobilisation among public sector lenders.
Microloans to be extended to SHGs and joint liability groups of women enrolled under Sustainable Livelihoods Initiative of HDFC Bank.
