Page 13 - Banking Sector

Fitch affirms Bank of Baroda, subsidiary at 'BBB-' with stable outlook

Action factors in a high likelihood of sovereign support to the public sector lender; rating agency says profitability to rise further; high loan growth to resume

HSBC says exploring sale of Canadian operations for latest disposal

A potential sale of HSBC's 100% equity stake in HSBC Bank Canada is among the options being explored, the lender said in a statement.

HDFC Bank is now ten times bigger than the crisis-struck Credit Suisse

Along with HDFC Bank, several Indian banks have a higher m-cap than the crisis-struck Swiss bank, including ICICI Bank, SBI, Kotak Mahindra Bank, Axis Bank and IndusInd Bank

Story of BillDesk and how it became India's largest bill payment platform

Founded by three former executives of Arthur Andersen, it initially offered banks a platform that enabled their customers to pay bills from their homes

MPC after-effect: SBI, ICICI Bank, YES Bank, BoI raise lending rates

The hike in lending rates shall be applicable to home loans and consequently, equated monthly instalment payments made by customers.

Automation Anywhere raises $200 mn from Silicon Valley Bank, others

The firm's cloud customers have run an estimated 50 million automations in 2022, with leading firms deploying thousands of bots across their organisations

Loan provisioning in banks: RBI for expected loss-based approach

With low NPAs and high provisions, time ripe for global standards: Bankers

Banks can boost liquidity by drawing down on CRR: RBI governor Das

The fall in the liquidity surplus is owing to multiple factors, including the RBI's interventions in the forex market and a sharp pick-up in bank credit growth, which is currently at nine-year highs

RBI to publish paper on expected loss-based approach for loan provisioning

Banks now make loan loss provisions on incurred loss model, wherein provisions are made after defaults

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

UP govt asks banks to strengthen security systems, digital transactions

The Uttar Pradesh government has decided to upgrade the security system in the banking sector

HDFC Bank launches festive scheme; home, personal, auto loans included

The loans for these categories, which fall under a scheme titled 'Festive Treats 4.0', are applicable till October 31, 2022, the bank's website showed

Can financial services be made bite-sized to deepen credit penetration?

Small can be more beautiful: Large-scale sachetisation of financial services may be just around the corner

At 16.2%, credit growth in banking system at multi-year high: RBI data

But a widening credit-deposit gap is a concern for lenders

Will exit reconstruction scheme after lock-in period ends: YES Bank

The RBI has set three parameters for YES Bank before it can leave the reconstruction scheme

ICICI Bank launches 'Festive Bonanza', announces offers on home, auto loans

In the personal loan segment, customers will not be levied pre-closure charges after 12 equated monthly instalments are paid

M K Shah Exports approaches McLeod Russel India lenders with counter offer

Carbon Resources has offered an upfront payment of Rs 1,245 crore of an estimated outstanding bank debt of Rs 1,650 crore

SBI raises Rs 4,000 crore via tier-2 bonds at cutoff rate of 7.57%

Lender claims overwhelming response from investors, with bids of Rs 9,647 crore; issue oversubscribed 5x against base size of Rs 2,000 crore

Bank NPAs loans may drop to 5% by March 2023 on economic rebound: Crisil

May even touch decadal low of 4% by March 2024; MSMEs remain vulnerable with one-fourth of recast accounts likely to turn NPAs

Banks alert customers about mobile banking malware targeting over 200 apps

This malware captures the credentials when users log into their net-banking apps and access bank accounts