Page 25 - Banking Sector

'Gold loan NBFCs may adopt aggressive growth strategies amid competition'

Gold loan portfolio across banks has jumped by more than 89 per cent year-on-year to Rs 60,700 crore in FY21 and Rs 70,900 crore in the first nine months of FY22

FM Nirmala Sitharaman asks banks to be more customer-friendly

The minister also made it clear that banks do not have to be lenient on credit underwriting standards by taking any adverse risks on a proposal

NBFCs seek priority sector tag for 2-wheeler loans financed by bank credit

This would help them get cheaper funds from banks and increase lending, especially in rural areas

CSB Bank gets RBI nod to appoint Pralay Mondal as Deputy Managing Director

His prior appointment in the bank since September 23, 2020 was as President

LIC IPO applications: Banks told to raise UPI per-transaction cap

A specially created working group found processing of many applications failed if UPI was selected as a mode of payment by retail investors due to per transaction caps imposed by banks

Three shipyards account for bulk of Rs 44,000 cr banks lost to the industry

ABG Shipyard was biggest contributor, at Rs 23,000 cr, to the drain on banks' coffers

More capital support to IDBI Bank may have adverse impact on LIC: DRHP

LIC had infused Rs 4,743 crore into IDBI Bank on October 23, 2019 using policyholders' funds while the bank further raised Rs 1,435.1 crore in Dec. 2020 by way of a qualified institutional placement

ABG Shipyard fraud: Banks' detection faster than usual, says FM Sitharaman

The alleged Rs 22,842 crore ABG Shipyard fraud is the largest fraud detected in the Indian banking system yet.

Banks in India can offer foreign currency-settled rupee derivatives

Move is expected to remove segmentation between onshore and offshore markets

Spike in credit demand from corporate, RAM segments: Indian Bank MD & CEO

In a Q&A, Shanti Lal Jain talks about recovery in demand, bad loan trends and the status of Covid recast

DCB Bank Q3 net down 21.9% YoY to Rs 75 cr as other income falls

Sequentially, net profit rose marginally from Rs 65 crore in Q2FY22

Punjab and Sind Bank post Rs 301 cr net profit in Q3 versus year-ago loss

Interest margins improve; provisions & contingencies fall sharply

City Union Bank Q3 net rises 15% to Rs 196 crore on lower provisioning

City Union Bank (CUB) on Friday reported a 15 per cent rise in net profit at Rs 196 crore for the quarter ended December 2021 on lower provisioning requirements.

IOB Q3 net profit goes up by 113% as provisions decline sharply

The public sector lender's net interest margin declined to 2.4 per cent in Q3FY22 from 2.45 per cent in Q3FY21

Beyond the third wave: Rural economy, banking recovery, and more

Budget at a glance: Here're the key numbers from Union Budget 2022

Govt expects 27% lower dividend at Rs 74,000 cr from RBI and banks in FY'23

The government is expecting a 27 per cent lower dividend at Rs 73,948 crore from the Reserve Bank of India (RBI) and public sector banks and financial institutions in 2022-23. In absolute term, this is nearly 27,400 crore lower than the Revised Estimates (RE) of Rs 1,01,353 crore under the head of dividend or surplus of Reserve Bank, nationalised banks & financial institutions during the current fiscal. During the current financial year alone, the RBI has paid a dividend of Rs 99,122 crore. This dividend payout was for the financial year 2020-21 paid in May last year. As per the Budget document, dividends from public sector enterprises and other investments have also been pegged lower at Rs 40,000 crore as against RE of Rs 46,000 crore. Total dividend collection of the next financial year would be Rs 1,31,948 crore as against the RE of Rs 1,68,247 crore, as per the RE of 2021-22.

Banks' loans rose 8% YoY in two weeks to January 14: RBI data

Banks' loans rose 8% in the two weeks to Jan. 14 from a year earlier, while deposits rose 9.3%, the Reserve Bank of India's weekly statistical supplement showed on Friday.

Punjab National Bank looking to further dilute its stake in UTI Mutual Fund

State-owned Punjab National Bank (PNB) on Friday said it is looking to further monetise its stake in UTI Mutual Fund as part of its non-core asset sale plan to shore up its capital base.

Central Bank Q3 profit jumps 69% at Rs 279 cr on core income growth

Central Bank of India on Friday reported 69 per cent jump in net profit at Rs 279 cr for the quarter ended December 2021 on the back of healthy growth in core income and fall in bad loan proportion.

Fino Payments Bank net profit rises 116% at Rs 14.1 crore in Dec quarter

Its revenues rose by 20 per cent YoY to Rs 275.16 crore in Q3Fy22