Page 21 - Banking Sector

Private banks are better money managers, state-owned lenders grow faster

They witnessed higher gains from parking funds with RBI and income from investments; as rates rise, space for both would shrink

RBI proposes norms for outsourcing of IT services by banks, NBFCs

Regulated entities (REs) will not require prior approval from the central bank for the outsourcing of IT and IT-enabled services

HDFC Bank to shift payments from core banking, ensure minimal downtime

This would pave way for minimal payments downtime

DBS Bank India acquires 9.9% in NBFC Svakarma Finance for undisclosed sum

DBS Bank India said the stake buy in Svakarma will help in delivering relevant financial solutions to the micro-enterprises through a combination of direct lending and co-lending

Moody's upgrades ICICI Bank, Axis Bank's baseline credit assessments

Affirms Baa3 deposit ratings of both Indian private sector lenders; outlook on ratings for both banks, where applicable, remains stable

FM Nirmala Sitharaman set to review govt banks' financials on Monday

Loan recovery, bad loans over Rs 100 crore to be reviewed

Banks' gross NPA drop below 6% in March 2022, lowest in six years

Health of the sector is encouraging: Deputy guv

TCS, HDFC Bank, Infy and LIC among Kantar's global 100 most valuable firms

Infosys made its debut to the list at 64th position at a brand value of $33,551 billion, up 33 per cent

Early assessment of banking sector health encouraging: RBI deputy guv

"The asset quality of banks has improved and the gross NPAs and net NPAs of the banks have improved from the pre-pandemic levels," Rao said

SBI and subsidiaries reshuffle top management to improve efficiency

SBI has promoted market-recruited executives who have been associated with the bank's subsidiaries for some time

SBI raises lending rates, HDFC Bank and BoB increase deposit rates

Moves follow RBI's 90-bp repo rate increase in a little over a month

Equitas Small Finance Bank gets RBI nod to reappoint Vasudevan as MD & CEO

Equitas Small Finance Bank (ESFB) on Wednesday said that the Reserve Bank of India has okayed its proposal to reappoint MD and CEO Vasudevan P N for one year. "We wish to inform that pursuant to the bank's application vide its letter dated May 23, 2022, RBI vide its letter dated June 15, 2022 has approved the proposal to reappoint Vasudevan P N as the Managing Director & Chief Executive Officer (MD &CEO) of the bank, for a period of one year with effect from July 23, 2022," it said in a regulatory filing. Earlier in May this year, ESFB founder and CEO Vasudevan P N had asked the lender to look for his successor as he wanted to step down to pursue "a distinct set of goals". He is also the Managing Director of Equitas, which began as a micro finance institution in 2007 and was later converted into bank in 2016. In a letter to ESFB last month, Vasudevan expressed his desire to quit but did not gave a timeline. Vasudevan said he along with his wife has created a public charitable .

RBI pulls up banks for flouting norms on infra loans to govt entities

Must follow instructions in 'letter and spirit'

SBI and IDBI Bank join trend, raise their interest rates on deposits

Interest rates on retail term deposits (below Rs 2 crore) of 211 days to less than one-year tenor have been increased by 20 bps to 4.6 per cent. It was 4.4 per cent earlier

Stormy Dhanlaxmi EGM on cards today under a cloud of allegations and exits

The Dhanlaxmi Bank EGM has been called by a group of eleven minority shareholders unhappy with the working of the bank, and its financials

Loan demand is bouncing back after 2 yrs of credit contraction: SBI chief

Companies are steadily drawing down from a $71 billion loan pipeline, said Dinesh Kumar Khara

Alok Kumar Choudhary appointed State Bank of India MD for 2 years

Choudhary would hold the position of MD till his superannuation on June 30, 2024

Banks to take Rs 37,200-cr hit by liquidating 10 power projects: BofA

Combined capacity is 10.5 Gw; projects fail to find any takers under insolvency process

Bank of Baroda revises proposed dividend upwards to Rs 2.85 per share

Small impact on net-worth and capital adequacy. The dividend payment is subject to shareholders' approval at the annual general meeting

79,669 pieces of fake Rs 500 notes detected by banks in FY22: RBI report

The number of counterfeit notes of Rs 2,000 denomination detected in the system was 13,604 pieces during 2021-22, up 54.6 per cent from the preceding financial year