Banking & Finance

Banks: Strong growth momentum in retail lending

Loan growth of 21% y-y in Q2FY19 driven by volumes; barring LAP segment, asset quality remains stable.

Banking & Finance News

Banks recover Rs 40,400 crore from defaulters: RBI report

In the fiscal ended March 2018, banks recovered Rs 40,400 crore worth of bad loans as against Rs 38,500 crore recovered in FY17.

RBI, RBI report, defaulters, Insolvency and Bankruptcy Code, SARFAESI, reserve bank of India, banking news

Provision coverage ratio of PSU banks on the rise, crosses 66 per cent

The provision coverage ratio (PCR) gives an indication of the provision made against bad loans from the profit generated. Higher the PCR, lower is the unexposed part of the bad debts.

Banking & Finance News

RBI exploring mobile phone-based solution to help visually impaired identify banknotes

The Reserve Bank is looking at a mobile phone-based solution to help visually impaired people easily identify Indian currency notes. Currently, intaglio printing-based identification marks are present

Banking & Finance News

Clamour grows for review of RBI’s ownership rules for private banks as Kotak deadline approaches

As an RBI deadline ends on Monday for Kotak Mahindra Bank to reduce promoters' stake, clamour has increased for a review of the central bank's ownership guidelines for the country's private sector len

Banking & Finance News

Government to infuse Rs 10,086 crore in Bank of India

The finance Ministry had informed the bank about the capital infusion on Wednesday (December 26), Bank of India said in a regulatory filing. The fund infusion would be by way of preferential allotment

Bank of India, finance Ministry, public sector lenders, capital infusion, United Bank of India, banking news

Lowering capital buffer detrimental to banks, economy, says RBI

The Reserve Bank Friday warned that with high bad loans and inadequate provisioning to cover the same, any relaxation in the regulatory capital requirement or risk-weights could be detrimental to bank

RBI, cumulative default rates, loss given default, Urjit Patel, NPA News

RBI says banks under PCA report slower NPA growth in FY18

The 11 public sector banks that are under the prompt corrective action (PCA) framework have shown lower growth in gross non-performing assets as against non-PCA banks, the Reserve Bank said in a repor

RBI, PCA report, NPA growth, GNPA, PCA banks, Corporation Bank News

NPAs of PSU banks decline by over 23,000 cr in H1 FY19, says official

Various initiatives taken by the government have yielded results, with the bad loans of public sector banks declining by over Rs 23,000 crore from a peak of Rs 9.62 lakh crore in March 2018, said a se

NPA, PSU banks, Rajiv Kumar, Arun Jaitley, Reserve Bank of India, Prompt Corrective Action  News

RBI relaxes withdrawal limit for depositors of City Co-operative Bank

The Reserve Bank has increased the withdrawal limit for depositors of City Co-operative Bank Ltd, Mumbai, to Rs 5,000.

Banking & Finance News

Union Bank of India first PSU bank to announce capital infusion by government

United Bank of India became the first of the country’s ailing state-run banks to announce a new cash injection from the government, disclosing in a filing that it will receive 21.6 billion rupees ($

Union Bank of India, PSU bank, capital infusion, Icra Ltd, Oriental Bank of Commerce, Bank of Maharashtra News

Government to infuse Rs 28,615 cr in 7 PSBs soon

The government is likely to infuse Rs 28,615 crore into seven public sector banks (PSBs) through recapitalisation bonds by the end of this month, sources said Thursday.

public sector banks, recapitalisation bonds, Bank of India, Arun Jaitley, Prompt Corrective Action , IDBI Bank News

Bank workers at it again: Second nation-wide strike within a week

The nation-wide strike would impact banking services like deposits and withdrawal at branches, cheque clearances and issuance of demand drafts, among others.

bank strike, nation-wide strike, public sector bank, bank services, Vijaya Bank, Dena Bank, Bank of Baroda, banking news

Liquidity concerns: National Housing Bank’s refinance cap hiked to Rs 50,000 cr

The hike in limit comes even as housing finance companies (HFCs), an important segment of non-banking financial companies (NBFCs), have availed of only about Rs 12,000 crore-Rs 14,000 crore from the N

National Housing Bank, nhb News

RBI launches survey on people’s retail payment habits

The Reserve Bank of India (RBI) has launched a survey to understand the "Retail Payment Habits of Individuals" (SRPHi).

RBI, RBI survey, retail payment habits, digital payment, banking news

NBFC, HFC heads meet PM Narendara Modi over liquidity issues – Here is what they suggested

Representatives from NBFCs and housing finance companies Wednesday met Prime Minister Narendra Modi here and gave suggestions on how to "revive" the sector facing liquidity issues, especially after de

NBFC, IL&FS, Narendara Modi, liquidity crunch, IL&FS crisis, Assocham, National Housing Bank News

Strike paralyses banking operations in Mumbai

All banking operations were paralysed in the country's financial capital on Wednesday, following a strike by various banking employees and officers unions, officials said here.

Banking & Finance News

Premium of non-life insurers rises 27 percent to Rs 12,551 crore in November

Of these, 25 general insurance companies wrote gross direct premium of Rs 11,498.11 crore, up 26.4 per cent from November 2017.

Banking & Finance News

Checking bank fraud: Vigilance commission takes this action on PSU banks, insurance firms

Probity watchdog Central Vigilance Commission (CVC) has started examining audit reports of state-run banks and insurance companies to check incidents of fraud and suggest corrective measures, official

Banking & Finance News

Year of Exits: Borrowers left as loans went kaput; CEOs forced to leave and RBI chief quits too

The magnitude of the scam shook the entire banking system and PNB is still trying to overcome this.

Banking & Finance News

Banks on nationwide strike on Wednesday, services likely to be affected

Services of banks are likely to be affected on Wednesday due to a nationwide strike call given by the United Forum of Bank Unions (UFBU) to protest against bank mergers and pay revision.

bank strike, nationwide strike, United Forum of Bank Unions, All India Bank Employees Association, National Organisation of Bank Workers, banking news

Bank strike: Are banks closed today? No, but here’s why banking services may get disrupted

Yesterday was a national bank holiday for Christmas. However, today, on December 26, banking services may get disrupted.

PSU banks, indradhanush plan, NPA, PSU market capitalisation News

SBI charges among lowest in banking sector: MD

State Bank of India (SBI) Managing Director P K Gupta said that the charges for various services offered by the bank are among the lowest in the industry.

Banking & Finance News

Yes Bank to use data analytics to offer right mix of products

With an increasing focus on retail customers, Yes Bank is now churning data to understand customer behaviour and offer a right mix of products based on a predictability model, a senior official said.

Banking & Finance News

SBI invites bids from banks for Rs 20,000-cr QIP

In June 2017, SBI had raised Rs 15,000 crore through India’s largest-ever QIP, which took the government’s share in the lender to 57.07%.

SBI Life rating 'buy', Jeferies rating SBI Life, SBI LIfe latest rating News

We are on track to close the financial year with a nominal profit in Q4, says CEO of Central Bank of India

The strategy covers both income and cost side. On the income side, we have to improve the revenue and quality assets. We are focusing more on the better-rated companies.

central bank, central bank of india, pallav mohapatra News

Allahabad Bank working hard to meet Rs 1,000 crore recovery target in Q3

As a part of the turnaround strategy, the lender, which is under the prompt corrective action (PCA) of the Reserve Bank of India, is looking to bring down the net NPA ratio to below 6% by the first qu

Allahabad Bank, banking sector, economy, india, banking industry News
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