RBI slaps penalty of Rs 2 cr on SBI for deficiencies in regulatory compliance, including payment of remuneration to employees in form of commission.
RBI decides to lift IDBI Bank out of PCA framework, subject to certain conditions and continuous monitoring.
Morgan Stanley upgrades two other PSU banks; stays underweight on Canara Bank and Bank of India.
Balance sheets of India’s top private banks are the strongest ever; they are well-positioned to accelerate growth and gain market share, says Morgan Stanley.
Public sector banks will have to let go of one of their big advantages as the Centre has now allowed all private banks to participate in govt-related banking transactions.
SBI taking several steps to double its home loan book to Rs 10 lakh cr in next 5 years; co-lending will help expand its footprint in the unorganised sector.
IDBI Bank is planning to set off its accumulated losses as on 1 April 2021. The bank’s board will meet for this purpose on Friday.
Economic Survey is critical of the way RBI handled the Yes Bank and Lakshmi Vilas Bank crisis sprouting from the “ever-greening” of loans.
Govt is planning stake sales in IDBI, Central Bank of India and Punjab & Sind Bank; 10-15% stake in LIC also to be sold.
While there is a fair amount of visibility in the corporate book, the retail and SME books are not stress tested, says BoB CEO Sanjiv Chadha.
Axis bank’s retail assets account for 83% of fresh slippages. Q3 net profit plunges 36% to Rs 1,117 cr.
Federal Bank Q3 net drops 8.2% to Rs 404 cr, mainly due to higher provisioning for bad loans.
HDFC Bank reported an improvement in asset quality in Q3; net profit rose 18% on back of surge in net interest income.
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SBI Cards Q3 sees 52% dip in net profit to Rs 209.7 cr; write-off keeps gross NPAs under control.
