Aim is to become 3rd largest public sector bank in operating profits in FY24; motivated staff, market penetration strategies, digital investments to drive this competitive battle.
Bankers say RBI’s move to hike incremental CRR to 10% will be an opportunity loss to banks; impact of few basis points to be felt on short-term rates in bond markets.
State Bank of India has no plans to spin off YONO as a subsidiary or list it, says chairman Dinesh Khara; former head Rajnish Kumar had said valuation would get reflected once it is hived off.
There are enough indicative trends to show that RBI is most unlikely to go for an interest-rate cut in the current financial year.
Renewal of government guarantee comes after a gap and is set to restart flow of NPA accounts of banks to NARCL; movement will, however, depend on other factors like right pricing.
Canara Bank has set up 500 jewel loan shops in its branches; 80% of its Rs 1.3 lakh crore gold loan biz comes from South India, says CEO Satyanarayana Raju.
HDFC Bank CEO Sashidhar Jagdishan speaks of funding risk, impact on NIM and growth opportunities; says bank’s philosophy has always been not to compromise growth for profitability.
Banks’ total loan write-offs moved to Rs 10.57 lakh crore in last five years; they could only recover 18.60% of write-offs during last three years.
Largest amount of Rs 21,044.4 crore has come on account of non-maintenance of minimum balance; major banks also collect over Rs 8,000 crore for ATM transactions beyond free numbers since 2018.
Topping the list is Mehul Choksi-owned Gitanjali Gems with Rs 8,738 crore; this is followed by Era Infra Engineering, REI Agro, ABG Shipyard and Concast Steel and Power.
Sashidhar Jagdishan’s pay pack of Rs 10.55 crore in FY23 is Rs 80 lakh more than Axis Bank’s Amitabh Chaudhry and Rs 95 lakh more than ICICI’s Sandeep Bakhshi.
Despite the HDFC-HDFC Bank merger, SBI chairman Dinesh Khara reiterates that the state-owned bank will continue to lead the home loan market.
Total value of Rs 2,000 banknotes received back from circulation is Rs 3.14 lakh crore up to 31 July, says RBI.
Minister of state for finance Bhagwat Karad said scheduled commercial banks have recovered Rs 10,16,617 crore from bad loans between 2014-15 and 2022-23.