Banking & Finance

5G for banking! RBI preparing to adopt fifth generation technology

The 5G technology, along with blockchain, will be progressively adopted by banks.

Banking & Finance News

RBI Feb 12 circular: IBA wants one-day default rule scrapped — here’s why

Following RBI governor Shaktikanta Das’ announcement the RBI would issue a revised circular following the apex court’s verdict, the Indian Banks’ Association has written to the RBI with at least

Banking & Finance News

Kotak Bank cuts interest rate on select saving accounts

The new rates will be effective from April 15, 2019.

Banking & Finance News

More PSU bank mergers in offing? RBI bats for further consolidation

the Reserve of Bank of India has suggested further consolidation in the banking sector as larger banks are more labour cost efficient as they reap economies of scale.

Banking & Finance News

SBI puts Rs 8,453-crore bad loans up for sale in Q4

A loan account that has remained in NPA category for 5 years must be classified as a doubtful III account and fully provided for, as per RBI.

Banking & Finance News

Good news on growth front: Non-food credit grows 13.75%, deposits up 10%

The CD ratio of scheduled commercial banks stood at 77.65% in the fortnight ended March 29.

Banking & Finance News

Banks close FY19 with 13.24% credit growth, deposits up 10.03%

Banks closed fiscal 2019 with robust disbursals that rose in double-digits for the second year in row, after the sub-5 percent in FY17, which was the lowest in five decades.

Banking & Finance News

IDBI Bank lowers lending rates by 5 basis points

The new one-year marginal cost of funds-based lending rate (MCLR), to which most of the loan pricing is based on, has been reduced to 9 percent, the bank said in a statement Thursday.

Banking & Finance News

BBB for autonomy to PSU banks to decide organisational structure

The Banks Board Bureau (BBB), the apex body for selection of whole-time directors of state-owned lenders, has made a case for giving a complete autonomy to banks to decide organisational structure for

Banking & Finance News

Mega PSU banks in making: Recapitalisation done, now consolidation on reform agenda

Amalgamation of banks is part of the government’s efforts to create a few but strong state-run lenders with much larger balance sheet to support the increasing need for credit of the fast-growing ec

Banking & Finance News

Public sector banks to get more govt capital in H1FY20

The finance ministry believes the worst is over for state-run banks as they are well capitalised at the moment. The government had infused around Rs 1.06 lakh crore in FY19.

Banking & Finance News

NBFCs paying more in raising funds via NCDs

NBFCs have been raising more funds from the NCD market since commercial banks appear to have slowed in extending credit to the sector.

Banking & Finance News

IDBI Bank to hire around 950 after LIC takeover

IDBI Bank has called for applications for nearly 950 positions, many of them in specialised roles, after the bank was taken over by Life Insurance Corporation (LIC) of India.

Banking & Finance News

Federal Bank takes tips from Swiggy and Uber, may adopt Blockchain technology

Swiggy and Uber users are pushing bankers to adopt digital technologies, says Federal Bank COO.

Banking & Finance News

Interest rates: SBI loans cheapest among top banks after 5 bps cut

SBI cut its MCLR rates for the overnight, one-month, three-month, six-month and one-year tenors by 5 basis points (bps) to 8.15%, 8.15%, 8.20%, 8.35% and 8.50%, respectively. According to the bank, le

how to open a ppf account in sbi without having saving account in sbi or any other post office News

Banks’ net interest income to rise over 20% y-o-y in Q4: Analysts

Even as banks see a rise in core income and a drop in fresh bad loans, they may see a fall in non-interest income, with treasury income falling sharply on a sequential basis.

Banking & Finance News

IndusInd Bank prices maiden dollar bond at 185 bps over US Treasury yield

The initial price guidance stood at 210 bps over the US Treasury. The bank indicated that with 3.5 times over-subscription, the final price tightened by 25 bps.

IndusInd Bank, bonds, banking news, finance news, markets news

SBI cuts interest rates, loans get cheaper; deposits to also fetch less returns

Similarly, the bank also revised savings rates from May 1.

how to open a ppf account in sbi without having saving account in sbi or any other post office News

Fitch affirms ‘BBB-‘ rating to Exim Bank, stable outlook

Its board has representation from ministries of finance, external affairs and commerce & industry.

Banking & Finance News

Turning ash into gold: SBI eyes Rs 423 crore recovery from two dud accounts

Steel maker Kamachi Industries has an outstanding of Rs 364.80 crore while SNS Starch --which manufactures and exports various grades of starch -- owes Rs 58.87 crore to SBI.

SBI, e-auction of NPA accounts, NBFC, Steel maker Kamachi Industries, SNS Starch News

PNB to get capital boost; housing finance stake sale credit positive for PSU bank

Last month state-run Punjab National Bank announced that it will sell 13 per cent stake in PNB Housing Finance for Rs 1,850 crore (USD 270 million) to global private equity firm General Atlantic Group

Banking & Finance News

RBI to examine merger proposal of Indiabulls and Lakshmi Vilas Bank

"It is also clarified that presence of additional directors nominated by the RBI on the Board of LVB (Lakshmi Vilas Bank) does not imply any approval of the RBI of the merger proposal", the central ba

RBI, Indiabulls, Lakshmi Vilas Bank, merger of Indiabulls and Lakshmi Vilas Bank, Chennai News

Bank of India bids adieu; looks to sell insurance JV stake, boost kitty by Rs 1,105 crore

State-run Bank of India is looking to raise up to about Rs 1,105 crore by divesting its 25.05% stake in its insurance joint venture with Union Bank of India and Japan-based life insurance company Dai-

Banking & Finance News

Bank of India to sell 25.05% stake in life insurance joint venture

Established in February 2009, Star Union Dai-ichi Life’s (SUD Life) premium income stood at Rs 1,211 crore, while its profit after tax stood at Rs 55 crore during April-December 2018-19.

Banking & Finance News

SBI is geared to meet any additional demand for housing loans

The bank, which witnessed a spike in NPAs in its home loan portfolio post the merger of the associate banks, expects the NPA levels to dip with improvements in underwriting and recoveries.

Banking & Finance News

HDFC Bank March advances rise 5%, deposits grow 17%

he bank said it has purchased loans aggregating Rs 19.24 billion through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation, during the quarter en

hdfc guides 8 steps to avoid bank fraud News

Lakshmi Vilas Bank board clears merger with Indiabulls Housing Finance; key things to know

Board of Lakshmi Vilas Bank on Friday approved merger with Indiabulls Housing Finance in a through a share swap deal, both companies said in separate regulatory filings.

Banking & Finance News
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