Banking Industry

After Credit Suisse wipeout, AT1 bonds make a return in the global market

A Bloomberg index of contingent convertible bonds has risen 10 per cent from the lows seen during the Credit Suisse crisis

Credit card outstanding rises 29.6% to reach record high level in Jan

RBI data showed that credit card outstanding in January 2023 stood at Rs 1,86,783 crore as against Rs 1,41,254 crore in January 2022

E-commerce, travel transactions drive credit card spends in January

Cross Rs 1 trillion for 11th month in a row

State Bank is changing its business model, quietly

Going beyond corporate loans, SBI is getting into vendor financing as well as supply chain and cluster financing, the buzzwords of banking these days

Launch of digital rupee a historic milestone, says RBI executive director

Terming the launch of digital rupee a historic milestone, RBI executive director Ajay Kumar Choudhary on Thursday said the currency would bring in a lot of operational efficiency in the system and will foster financial inclusion. As per the central bank digital currency (CBDC) tracker, almost 105 countries representing 95 per cent of the world's GDP have taken steps to inculcate digital currency in their ecosystem. Around 50 countries are at the advanced phase of exploration to launch the digital currency, while 10 countries have fully launched the digital currency, he said at an event organised by PHD Chambers of Commerce and Industry (PHDCCI). Digital rupee will add the resilience associated with innovation in the way payments are made, he said, adding, it will also boost innovation in the cross-border payment space. CBDC will give the public the desired experience while ensuring consumer protection but avoiding the damaging social and economic consequences, he added. RBI has ..

BS BFSI Insight Summit 2022: Who's leading the way in banking technology?

From Ranjeeth Bellary, Partner, EY Forensic & Integrity Services to Rajsri Rengan, HoD - Banking & Payments, India & Philippines, FIS here are panelists who will speak on Technology in Banking

SBI board approves raising Rs 10,000 crore capital through tier I bonds

State Bank of India (SBI) on Wednesday said its board has approved Rs 10,000 crore capital raising plan through Tier I bonds. The fund raising through Additional Tier 1 (AT1) capital up to an amount of Rs 10,000 crore is subject to Government of India concurrence, the bank said in a regulatory filing. The Central Board accorded an approval for raising capital by way of issuance of Basel III compliant debt instrument in INR and/or any other convertible currency, up to FY24, it said. The fund would help the bank grow its loan book. Last week, SBI had announced that its personal banking advances, excluding high value home loans, have crossed the Rs 5 lakh crore-mark. The country's largest lender took a year to book the last Rs 1 lakh crore of advances, as against over 15 months for the previous Rs 1 lakh crore and over 30 months for the Rs 1 lakh crore before that.

USA's Advent may leave race for Reliance Capital general insurance arm

PE firm previously submitted the highest non-binding bid for the business

Canara Bank Q2 profit jumps 89% to Rs 2,525 cr, asset quality improves

State-owned lender's gross global advances up 20% YoY to Rs 8.24 trn; retail lending portfolio grows 12.5%

Axis Bank hikes MCLR by 25 bps, joining other lenders in policy action

Central bank's MPC has cumulatively increased the repo rate by 190 bps since May

UP gets digital banking footprint with four of the 75 DBUs on its soil

The DBU are being set up to ensure the benefits of digital banking reach the remotest of places

Public sector banks plan to establish verticals for big data, analytics

PSBs will also launch digital-only goods, services in the upcoming year with minimal data entry requirements, automated checks, and underwriting for consumers

EnKash: Powering India's SMEs and start-ups with a suite of corporate cards

The firm currently has a user base of 100,000 enterprises and processes transactions worth about Rs 28,000 cr a year

HDFC, HDFC Bank merger: Analysts see banking industry consolidating

The banking sector, according to analysts at ICICI Securities, has been underperforming at the bourses against the overall market in the last six months largely due to credit growth concerns

Mar 28-29 nationwide strike may partially impact banking services

Strikers demands include scrapping of labour codes, no privatisation of any form, scrapping of National Monetisation Pipeline

Axis Bank set to buy Citigroup's India retail unit for $2.5 bn: Report

The Indian lender emerged as the buyer after beating out rivals, with factors such as job security for current Citigroup employees and competition.

Bounce rates in December fall to their lowest since Covid-19 pandemic

December data indicates a good third quarter for banks on asset quality front

Banks see uptick in credit growth; asset quality likely to improve

"An increase in bond yields would impact treasury performance," Motilal Oswal Securities said.

India digital loan apps blamed for mafia-like collection tactics, suicides

Panel set up by the RBI finds more than half of about 1,100 digital loan providers operate illegally.

NBFCs to witness revival in growth this year; may see slight uptick in NPAs

Non-banking financial companies (NBFCs) showed resilience in 2021 despite the coronavirus pandemic woes and are expected to witness continued momentum in growth this year