Page 32 - Banking Sector

Banks should be more liberal on issues like exchange rates: Goyal

Union Commerce Minister Piyush Goyal on Thursday asked bankers to be "more liberal" on aspects like exchange rates while serving the exporters segment.

Axis Bank commits Rs 30,000 cr till FY26 towards sustainable lending

The country's third largest private sector lender Axis Bank has committed Rs 30,000 crore lending till fiscal year 2025-26 under its sustainable financing framework, a senior official said.

DICGC asks 21 stressed cooperative banks to prepare list of account holders

DICGC has also asked the banks to circulate consent form to account holders for accessing funds up to Rs 5 lakh as per the amended law within 90 days.

An existential crisis for banking sector?

The business model of banks is under threat. While they need to reinvent themselves, both banking and market regulators must take a close look at the evolving landscape

We want Federal Bank to be the 'Rahul Dravid' of banking space: MD-CEO

In a Q&A, Shyam Srinivasan says he wants the lender to be a predictable and trustworthy brand. He also expects home loan interest rate wars to erupt in the festive season

Punjab National Bank cuts repo-based lending rate by 25 bps to 6.55%

State-owned Punjab National Bank (PNB) on Friday said it has slashed the repo-based lending rate by 25 basis points (bps) to 6.55 per cent.

RBI nod to special committee to oversee operations at Ujjivan SFB

The Reserve Bank has given its go-ahead to Ujjivan Small Finance Bank (SFB) to form a special committee of directors to oversee operations in the absence of an MD and CEO. The Reserve Bank of India (RBI) in a letter dated September 15, 2021, has approved the constitution of 'Special Committee of Directors' with three independent directors as its members, Ujjivan SFB said in a regulatory filing on Thursday. The committee will "oversee the operations and administration of the bank in the absence of the Managing Director and CEO with effect from September 16, 2021," it said. Last month, the Bengaluru-based company had appointed old hand Carol Furtado to take charge as officer on special duty (OSD) till September 30, 2021, following the resignation of Nitin Chugh as MD and CEO. She will take charge as the interim CEO from October. "The board of Ujjivan SFB, in parallel, will evaluate suitable candidates for the MD & CEO position, and submit two names to RBI for approval," the lender .

Sebi mulls carving out separate AIF category to buy distressed loans

Markets regulator Sebi is planning to carve out a separate category in Alternative Investment Funds (AIF) whereby such entities can purchase distressed loans from banks and NBFCs.

Indian Banks' Association to steer 'EASE reforms' in public sector banks

EASE agenda is aimed at institutionalising clean and smart banking

Gross NPAs of banks to cross Rs 10 trn by March 2022: Study

The study also highlighted that risk management practices of Indian banks

After Q1 spike, NBFC bad loans to ease in FY22 as collections improve: Icra

Rating agency says the 90-day-plus dues, which touched 6.3% this June, may drop to 5.3% by March 2022 under base scenario

Trust between govt, industry key to use opportunities created by Covid: FM

FM assured that the proposed DFI, the National Bank for Infrastructure Financing and Development (NaBFID), will become functional soon

Indian banks' improved performance in contrast to stress from Covid: Fitch

Indian banks' improved performance for the financial year ended March 2021 is in contrast to the stress evident from extension of Covid-19-related relief measures to borrowers, Fitch Ratings has said.

Bank of Baroda's launches one-stop digital platform 'bob World'

State-owned Bank of Baroda on Wednesday announced the launch of its digital banking platform 'bob World', aimed at providing all banking services under one roof

RBI penalises 2 co-op banks for deficiencies in regulatory compliance

The Reserve Bank of India (RBI) on Wednesday said it has imposed penalties on two cooperative banks for deficiencies in certain regulatory compliance.

Ind-Ra retains 'stable' outlook on Indian banking sector in FY22

The rating agency has kept its FY22 credit growth estimates unchanged at 8.9% for FY22

Centre appoints Harsha Bhupendra Bangari as EXIM Bank MD

Banks Board Bureau (BBB), the headhunter for state-owned banks and financial institutions, had interviewed 10 candidates for the top post at EXIM Bank

Bank of Maharashtra expects total business to cross Rs 3 trn soon

The bank has been a performer in various key parameters, including deposit mobilisation, credit growth, recovery, risk management etc, BoM managing director and CEO A S Rajeev said

RBI imposes Rs 50 lakh penalty on Bombay Mercantile Co-operative Bank

The Reserve Bank of India (RBI) on Friday said it has imposed a penalty of Rs 50 lakh on Bombay Mercantile Co-operative Bank, Mumbai for deficiency in regulatory compliance.

Cathie Wood's fintech ETF sells HDFC Bank for first time since May

HDFC Bank ranks among the world's most priciest mega banks