Sanjay Malhotra will have to guide RBI through an uncertain phase which is seeing the world redraw its politics and economics. Don't expect many interest rate cuts as he has to weigh in a wobbly rupee, trade wars, tight liquidity, inflation and financial stability.
Microfinance loan book is IDFC First Bank's 'first big isssue post-merger’ and will peak in Q4 of FY25, says MD & CEO Vaidyanathan; every other single business of the bank is doing well.
KVS Manian takes up challenge of lifting Federal Bank to top five league; pivotal decisions include scaling up beyond Kerala, driving volumes in medium-yielding biz, reducing concentration of top depositors and having play in affordable housing.
Punjab & Sind Bank is planning to up branch network to 2,000 by March 2027 as it seeks to grow retail loans. “New branches will be mainly outside Punjab where market is getting almost saturated for us,” says CEO Swarup Kumar Saha.
Canara Bank CEO Satyanarayana Raju says CASA ‘shortfall’ has come amid liquidity issues, stiff competition and stability of payment platforms; opening of 250 branches a year has eye on CASA deposits and biz growth.
State Bank of India posts net profit of Rs16,891 crore in Q3, but margins are lower and deposit mobilisation stays weak; chairman Setty is confident that credit growth will be 14-16% in FY25.
Hitesh Mehta, ex-GM of New India Co-operative Bank used to call two staffers and instruct them to hand over Rs 50 lakh at a time from the bank's safes to persons he sent; police has also arrested former CEO of the bank.
Bank of India reports loan fraud of Rs 226.84 crore by Odisha-based Gupta Power Infrastructure to the RBI; earlier, PNB had declared fraud of Rs 270.57 crore by the same company.
Barely two weeks after New India Co-op Bank's fall, RBI revises norms for urban co-op banks relating to small-value loans and real estate exposure limits.
State-owned banks report highest-ever aggregate net profit of Rs 1.29 lakh crore and operating profit of Rs 2,20,243 crore in nine months of the financial year.