Page 28 - Banking Sector

Banking sector set to witness significant reforms in the new year

Privatisation of public sector banks and strategic disinvestment of IDBI Bank on the agenda of the government for 2022

Citicorp Finance reworking business strategy to focus on corporate lending

Banking sources said Citigroup is in an advanced stage to sell its consumer business unit in India.

Banks need additional $70 bn to back $5- trn GDP: SBI's Dinesh Khara

Banks would continue to play a critical role in meeting the needs of corporations

Technology is causing disruptions in banking, says K V Kamath

Kamath recognised the great transition done by the banks over the last two years during the pandemic, however, the only issue is about how to compete.

Merchants seek six more months to meet card data storage norms

Say hasty roll-out may lead to disruptions,loss of revenue

YES Bank board approves raising funds up to Rs 10,000 crore

The fundraising will happen through various instruments, including equity and bonds

New licensing regime for UCBs on the cards after a 17-year standstill

What went unnoticed is that the RBI has been tightening the screws on UCBs for a while now

Governance to groundwork for digital biz, the year that was 2021 for RBI

2021 will go down as the year in which the central bank undertook long overdue governance initiatives even as it laid the groundwork for the fast-growing digital business

On the cusp of an orbital jump

Estimates indicate that by 2025 about 130 zettabytes of data in the world will be unstructured.

Two-day nationwide bank strike ends; services across country hit

The two-day nationwide bank strike called by United Forum of Bank Union ended on Friday, impacting normal operations across the country. Lakhs of employees of public sector banks were on strike to protest against the proposed privatisation of banks by the government. Banks will work as usual on Saturday, as it is a working day. United Forum of Bank Union (UFBU) is an umbrella body of nine bank unions, including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW). Services like deposits and withdrawal at branches, cheque clearance and loan approvals remained paralysed due to the two-day strike. ATMs at different parts of the country went dry on the second day. Government treasury operations, negotiating of import and export bills, grant of loans, cash transactions, etc. were not possible and clearing operations were affected. In the three clearing centres of Mumbai, Delhi and Chennai, about 3

India is mulling changes in law to cut govt's stake in banks: Report

The proposals -- if approved -- would allow the government to gradually lower its holding in state-run lenders to 26% from 51% without diluting its grip on management appointments, say sources

SBI's exposure to road sector at Rs 90,000 crore, says Dinesh Khara

SBI's exposure to the road sector is close to Rs 90,000 crore, which is 37 per cent of the total banking exposure to the segment, its Chairman Dinesh Khara said on Friday. Speaking at a national conference on investment opportunities in highways, transport and logistics, he said State Bank of India (SBI) is a trusted partner in the growth of the roadway sector in the country. "For all purposes, SBI's exposure to the road sector at Rs 90,000 crore is almost 37 per cent of the total banking exposure to this particular sector," Khara said. The lender has granted credit worth Rs 35,000 crore as of June 30, 2021 to support the National Highways Authority of India (NHAI) for execution of multiple road infrastructure projects. It has granted credit worth Rs 5,000 crore to the SPV (special purpose vehicle) for Delhi-Mumbai Expressway, and has recently extended credit of Rs 8,000 crore to the initiative, he said. The bank is the largest lender to the recently launched National Highways Inf

ICICI Bank raises Rs 5,000 crore debt capital by issuing bonds

The board of directors of the bank had in April this year approved to raise funds by issuing debt securities

State Bank of India attempts to dissuade employees from striking work

Considering the ongoing pandemic situation, resorting to a strike will cause great inconvenience to the stakeholders, SBI said

Bank of Maharashtra lowers home loan rate to all-time low of 6.4%

The new rates would be effective from December 13, it said

NHB seeking agency for data on unsold properties across 50 cities

NHB has floated a request for proposal (RFP) for the engagement of an external agency to source the data

Rules on banks' investment portfolios to be revamped first time in 21 years

The outstanding investment portfolio of commercial banks was at Rs 45.84 trillion as of November 19 this year

Ease of doing biz, bank sector support will boost telecom industry: Birla

Aditya Birla Group holds over 27 per cent stake in VIL, while Vodafone Plc has more than 44 per cent in the telecom operator

'PSBs recovered Rs 4.18 trn related to frauds, defaults in last 3 fiscals'

The amount related to frauds of Rs 1 lakh and above has declined over the period

Dhanlaxmi Bank Part-Time Chairman G Subramonia Iyer submits his resignation

His resignation is to be effective from December 31, 2021