Punjab National Bank will hive off newly set up credit card biz into a wholly owned subsidiary; gets RBI nod to dilute stake in new entity to 51%.
IOB expects to come out of PCA and recovery of bad loans is one of the key areas of focus; education loans comprise 13% of the bank’s retail loan book.
FM Nirmala Sitharaman unveils plan for India’s first bad bank; govt to provision Rs 30,600 cr guarantee to back security receipts issued by NARCL as banks prepare to offload Rs 2 trillion of soured assets over 5 years.
Banks lure customers with lower interest rates as part of festive offer as market shifts to retail loans. Here is what SBI, PNB, BOB, Bank of Maharashtra and Kotak Mahindra Bank are offering.
After four years of handcuff, UCO Bank will have no lending restrictions as it exited from RBI-imposed PCA framework on back of improved financial position and reduction in bad loans.
A surge in gold loans pushes retail advances to top of bank credit for first time; industrial credit is at Rs 28.24 lakh cr while retail is tad higher at Rs 28.58 lakh cr.
Depositors of stressed banks to get up to Rs 5 lakh back from 30 Nov as govt notifies amendment to DICGC Act.
Axis Bank reported a YoY growth of 11% in net interest income to Rs 7,760.27 cr in Q1; asset quality deteriorated due to second wave of Covid-19.
RBI has approved reappointment of Sandeep Bakhshi as CEO of ICICI Bank until 3 October 2023.
Term deposits for new locker customers covering 3 years of rent and compensation policy in case of loss form some of the revised guidelines; directives to come into force from 1 Jan 2022.
HDFC Bank will aggressively go to market with not just existing suite of credit cards but also new offerings in form of co-brands and partnerships,” CEO Sashidhar Jagdishan said in email to staff.
RBI lifts ban imposed on HDFC Bank to stop selling new credit cards; ban on launching new digital initiatives remains.
A late entrant in the personal gold loan market, SBI is targeting to grow the gold loan book to Rs 1 lakh cr in a year’s time, said deputy MD Saloni Narayan.
