SBI’s FCNR(B) deposit outstanding was at $13.82 bn as on 30 July, up from $9.70 bn on 5 June; difference of $4.12 bn is net growth but does not reflect FCNR flows under RBI scheme as around $2 bn matured.
Post HDFC Bank rate row, RBI allows differential bulk deposit rates based on their run-off risk profile; lenders, however, have to offer uniform interest rates on deposits of similar amount.
Private banks collected Rs 4,948.71 crore in FY26 from customers for failing to maintain minimum balance in their savings and current accounts; HDFC and Axis Bank accounted for 58% of this.
In an unusual development, HDFC Bank CEO Sashidhar Jagdishan, CFO Srinivasan Vaidyanathan and retail assets group head Arvind Vohra are imposed a penalty of Rs 1 lakh in MSRDC case.
Bank of Baroda says bank’s core banking systems not accessed and continue to remain secure; breached data includes customer details and identification documents, says cybersecurity activist Srikanth.
IDFC First Bank Q1 net more than doubles over year-ago period to Rs 1,075 crore; lender targets 2.5% share in FCNR(B) deposits under RBI’s swap window.
RBI bought $22.2 bn and sold $28.3 bn in May; rupee sank to record low of 96.96 per dollar on 20 May amid surge in oil prices.
MoS for Finance Pankaj Chaudhary said 18,021 complaints against banks regarding recovery agencies had more than doubled in FY26 over year-ago.
Banks, NBFCs, ARCs, credit information companies and other regulated entities should set up processes to manage data risk.
Merchandise trade deficit widened to $27.9 bn in May ; balance of payments posted a deficit of $4.4 bn.
Inflation climbs to 4.38% in June compared to 3.93% in May; uncertainty over West Asia conflict and uneven monsoon casts shadow on price outlook.
Indian Bank has raised $140 mn in FCNR deposits; has pipeline of $1 billion, says MD and CEO Binod Kumar.
Banks wrote off 33.2% of bad loans worth at least Rs 1.28 lakh crore in FY26, with private sector lenders taking a bigger share.
RBI approves Mahesh Muralidhar Pai’s appointment as MD and CEO of South Indian Bank for three years, effective 1 October; he is currently CGM at Canara Bank.
Punjab & Sind Bank receives licence from IFSCA to establish an IBU at GIFT City, Gandhinagar.
