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.
RBI elevates Kesavan Ramachandran to position of executive director with effect from 1 July.
In a rare move, govt demotes Union Bank of India ED Pankaj Dwivedi; reverts him to previous post as GM in Punjab & Sind Bank.
RBI’s new provisioning norms for project financing to be effective from 1 October; will make it cheaper for lenders to provide loans for infrastructure and industrial projects like roads, ports and power plants.
From the current financial year, small finance banks are required to extend 60% of their total loans to the priority sector, down from the earlier mandate of 75%.
India’s retail inflation dips to 2.82% in May, the lowest since February 2019; fourth consecutive month when inflation has stayed below RBI’s median target of 4%.
