Page 33 - Banking Sector

RBI fines Axis Bank Rs 25 lakh for flouting KYC norms

The fine is based on a scrutiny carried out by RBI during February 2020 and March 2020 in a customer account maintained with the bank

PNB waives all service charge, processing fee on retail products

Punjab National Bank on Tuesday said it has waived all service charges and processing fee on retail products as part of its festival season offering.

IDFC First Bank aims retail loan book growth of 25% on long-term basis

IDFC First Bank reported a net profit of Rs 452 crore in 2020-21. There was a net loss of Rs 2,864 crore in FY20.

FinMin exploring insurance bonds as alternative to bank guarantees

The government is considering to introduce insurance bonds as an alternative to bank guarantees, Finance Secretary T V Somanathan said here on Tuesday.

Banks recast loans worth Rs 35,000 crore under RBI's second scheme

Retail and loans to micro, small and medium enterprises have the largest share in the two schemes combined

HDFC Bank's $1-billion global AT-1 bond issue priced at 3.7%

Market sources said the response was strong with demand in the region of $4 billion-$4.5 billion

HDFC Bank can start issuing credit cards again as RBI eases curbs

Ban on Digital 2.0 programme continues; bank ready with aggressive plan

Of Covid deaths, bank deposits and bad loans

Districts with higher death rates during the pandemic have shown outflow of bank deposits, rise in home loan NPAs and rush to raise gold loans

AU Small Bank eyes Universal banking status in 2-3 yrs, says MD-CEO

Lender has rolled out platform to provide customers with a full-suite of digital banking services, including face-to-face interaction with a banker over video call

A new phishing attack lurking to scam banking customers: Advisory

The malicious activity is being carried out using the ngrok platform, a unique web application, it said.

Track up to 29-day dues in micro-loans to contain slippages: Sidbi

Advises caution amid easing of stress, evident from improved collection efficiency

Indian bankers in talks as court rulings threaten over $6 billion in loans

Any failure to recoup money adds to stress in banking sector, which is dealing with increased level of bad loans and reduced profits because of the impact of the pandemic

PSU banks mobilise record fund of Rs 58,700 crore from markets in FY'21

Notwithstanding economic disruptions caused by the pandemic, PSBs have managed to raise a record Rs 58,700 crore from markets in FY2020-21 through a mix of debt and equity to enhance capital base.

Deposit insurance: Urban cooperative banks major beneficiaries, shows data

By March 2020, 357 urban cooperative banks (UCBs) had failed in the country, leading to payment of Rs 4,903 crore in claims

Union Bank of India Q1 standalone net profit zooms to Rs 1,181 crore

Union Bank of India reported over three-fold jump in standalone net profit at Rs 1,181 crore for June quarter 2021-22, helped by higher net interest income and improvement in asset quality.

SBI inches towards record high ahead of Q1 results; stock up 3%

Analysts expected SBI to report a healthy performance, supported by recoveries and modest opex

HDFC enhances existing limit to borrow via medium-term bonds up to $2.8 bn

The country's largest mortgage lender HDFC Ltd on Wednesday said it has enhanced its existing limit to raise capital through medium-term notes to up to USD 2.8 billion (about Rs 20,875.65 crore).

Statsguru: Performance and challenges of co-operative sector in India

Even though a fifth of these cooperatives are in the financial sector, their share has remained low

Banker's Trust: Tamal Bandyopadhyay on the facts and fiction of Mudra loans

Do we need yet another refinance agency? No one will shed a tear if Mudra is given a decent burial

Covid-19 wave intensifies pressure points for small, mini non-banks: Report

The second COVID-19 wave has intensified pressure points for small and mini NBFCs, as they did not get the benefit of the RBI's liquidity measures announced last year, a report said.