SBI classifies loan account of Reliance Communications along with promoter-director Anil D Ambani as ‘fraud’ and is in process of lodging complaint with CBI; earlier, Canara Bank had withdrawn such label.
IOB expects total business to grow over 12% in FY26; loan book growth should be around 12-13%
Union Bank of India Q1 asset quality improves with gross NPAs falling to 3.52% from 4.54% a year ago.
HDFC Bank Q1 net profit rises to Rs 18,155 crore; announces first-ever issuance of bonus shares, allocated at a ratio of 1:1.
RBL Bank’s Q1 gross NPAs up while NIM narrows; weak performance in last few quarters impacted by unsecured retail loan segment.
Union Bank of India Q1 net profit at Rs 4,116 crore while NII falls; bad loans decline to 3.52% from 4.54% a year ago.
ICICI Bank’s net interest margin drops to 4.34% from 4.41% in preceding quarter; asset quality improves.
Citigroup’s India head of commercial banking, Bhanu Vohra, has resigned after spending 25 years with the bank.
Retail inflation stays below RBI’s medium-term target of 4% for fifth consecutive month; June inflation of 2.1% is lowest year-on-year rise since January 2019.
Sashidhar Jagdishan takes home Rs 12.08 cr as annual pay in FY25, up 11.8% from Rs 10.8 cr a year ago; deputy MD Kaizad Bharucha is paid Rs 11.01 cr.
Karnataka Bank’s COO Raghavendra Srinivas Bhat will take up the new role for a period of three months or until a regular MD & CEO is appointed, whichever is earlier, based on RBI approval.
RBI slaps penalty of Rs 4.88 lakh on HDFC Bank and Rs 2.70 lakh on Shriram Finance for violations of regulatory norms.
Public sector banks are in discussions with finance ministry to scrap requirement of customers maintaining minimum balance in savings deposit accounts; five banks already dropped this.
CRIF data shows high-ticket loans gain preference in FY25 amid rising stress in small borrowers, increased caution, evolving risks and broad-based moderation in credit growth.
This is IndusInd Bank’s 12th all-women branch in India; managed by team of five dedicated women officers, branch will offer retail banking services.
