Page 69 of banking sector

"Fitch Ratings has revised the Outlook to Stable from Negative on the Long-Term Issuer Default Ratings (IDR) of 9 India-based banks, while affirming their IDRs," Fitch said in a statement.

The other lenders are Bank of Baroda (BOB), Bank of Baroda (New Zealand) Ltd, Bank of India, Canara Bank, Punjab…

June 15, 2022 17:36 IST

Laying down a set of specific instructions in an annex accompanying Tuesday's circular, the RBI reiterated that banks must follow them in letter and spirit.

RBI flags lack of due diligence in bank funding to govt-owned entities

We have come across instances where banks have not been strictly complying with our extant instructions on assessment of commercial…

June 15, 2022 05:45 IST

Revathy Iyer, Sachin Chaturvedi, Satish Kashinath Marathe, Swaminathan Gurumurthy, Ajay Seth and Sanjay Malhotra are non-official directors of the central bank.

Govt appoints 4 non-official directors on RBI central board

Anand Mahindra is chairman of the Mahindra Group, non-executive chairman of Mahindra & Mahindra and Tech Mahindra. Venu Srinivasan is…

June 15, 2022 05:30 IST

This ruling came on a case filed by National Insurance Company general manager Ravi, who had complained that people junior to him were selected by the BBB for the position of directors in public-sector general insurers twice. The court also set aside relevant circulars that enabled the BBB to make such selections.

New entity with wider mandate to replace BBB

The move followed a directive late last year by the Delhi High Court, which held that the BBB cannot select…

June 15, 2022 04:10 IST

Explainer: All about RBI’s On tap Licensing Policy for Universal Banks and Small Finance Banks

Reserve Bank of India (RBI) recently rejected six out of eleven applications by entities aspiring for on-tap banking licenses.

Updated: June 16, 2022 15:43 IST

‘As a universal bank, RBL must diversify its loan offerings’

The lender will now prioritise diversifying its loan book to branch out beyond its niche of credit cards and microfinance…

Updated: June 14, 2022 10:50 IST

At SBI, Chugh would be responsible for driving growth of customer acquisition through digital channels, along with defining and implementing digital strategies.

India Inc’s registers record dividend payout in FY22; PSBs, IT companies lead drive

Top 400 companies from the NSE500 have given out Rs 2.6 trillion in FY21, data collated from Capitaline shows.

June 13, 2022 04:45 IST

"The RBI's move to raise policy interest rate by another 50 bps within a short timeframe will help the Indian economy in the medium term," Sinha said.

Bad bank AMC hits regulatory hurdle; transfer of bad loans delayed

In January, State Bank of India (SBI) chairman Dinesh Khara said the NARCL had received all approvals to start operations…

June 13, 2022 04:30 IST

RBL bank, RBL bank performance, RBL bank Q3, RBL bank Q3 net result

DHFL administrator R Subramaniakumar is RBL Bank chief

The bank received the communication approving Subramaniakumar’s appointment from the RBI on Friday.

June 12, 2022 05:30 IST

Linking credit cards to UPI to drive higher acceptance

While the linking of the unified payments interface (UPI) with RuPay credit cards is seen as an advantage by major…

June 9, 2022 02:45 IST

According to the CBI FIR, the scam started taking shape between April and June 2018, when Yes Bank invested Rs 3,700 crore in short term debentures of scam-hit DHFL.

Yes Bank begins process to exit reconstruction scheme

The process was started on the recommendation from State Bank of India (SBI), the largest shareholder in Yes Bank.

June 9, 2022 01:45 IST

Their demands included updation and revision of pension for all pensioners and doing away with the national pension scheme and restore old pension scheme for all bank employees, AIBEA general secretary C H Venkatachalam said after the meeting of UFBU.

Public sector bank employees threaten to go on strike on June 27

The United Forum of Bank Union (UFBU), an umbrella body of nine bank unions including All India Bank Officers’ Confederation…

June 8, 2022 20:46 IST

PNB to focus on retail, MSMEs to drive loan growth

The bank is planning to strengthen the PNB ONE app by offering digital lending, marketplace features, lifestyle offerings and wealth…

June 8, 2022 03:30 IST

PSBs to conduct massive loan drive today

In October 2021, public-sector banks (PSBs) were directed to launch a similar outreach programme for a longer period in the…

June 8, 2022 02:20 IST

In the previous fortnight ended May 6, bank credit grew by 10.82 per cent and deposits at 9.71 per cent.

Bank credit grows by 11.04 pc; deposits by 9.27 pc

In the fortnight ended May 21, 2021, bank advances stood at Rs 108.31 lakh crore and deposits at Rs 151.67…

June 7, 2022 20:18 IST

Need to make Indian banks, currency important part of international trade, says PM Modi

Inaugurating the week-long events by the ministry of finance and corporate affairs as part of ‘Azadi Ka Amrit Mahotsav (AKAM)’,…

June 7, 2022 01:20 IST

Banks see pick-up in capex loans

The spurt in demand has encouraged even large private banks to take a share of the pie.

June 6, 2022 06:14 IST

For SBI, the retail segment was the key driver for loan growth, according to ICICI Securities. SBI’s retail loans grew 15%. A bulk of these loans consisted of home loans, which grew 11.5% on year. Chairman Dinesh Khara expects the current loan growth momentum to sustain, both in the retail and corporate portfolios.

Retail segment likely to be key driver: Bankers see credit growth momentum sustaining

To give credit growth a leg-up, ICICI Bank is ramping up its insta-biz platform for SME business, Jefferies said in…

June 3, 2022 01:45 IST

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Insurers line up for SDLs in bond forwards market

Market9 hr ago

Insurance companies are increasingly involved in the state development loan (SDL) forwards market, making up 10-15% of the overall bond forwards market. This is beneficial for their portfolio returns, as long-term SDLs have become attractive due to the yield curve and regulatory changes.

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