Page 42 - Banking Sector

Privatisation of two public sector banks on meeting agenda next week

Four to five PSBs have been suggested by the Niti Aayog and they will be discussed in the meeting, sources said

Hike in deposit limit: Payment banks likely to attract bigger clients

Industry sources said banks had made a case for increasing the limit to Rs 5 lakh in line with the hike in deposit insurance cover

Dhanlaxmi Bank gross advances up over 4% by March; deposits rise over 7%

Private sector lender Dhanlaxmi Bank witnessed over 7 per cent year-on-year growth in its total deposits during the financial year ended March 2021, while advances rose over 4 per cent.

Payments banks can now hold max balance of Rs 2 lakh per customer

The RBI has doubled the limit of maximum balance that an individual customer can hold with payments banks to Rs 2 lakh from Rs 1 lakh earlier with immediate effect

Monetary policy: Soon, you can withdraw cash from digital wallets

The rationale behind this move is to level the playing field between banks and non-banks PPI issuers

Bharti AXA Life, Fincare SFB join hands for bancassurance partnership

Bharti Axa Life and Fincare Small Finance Bank have joined hands for a bancassurance partnership under which the bank will sell insurance policies to its customers.

Bankers hail RBI's dovish policy, welcome G-SAP, TLTRO, PSL measures

Bankers gave a thumbs up to the clear commitment to liquidity infusion through the G-Sec Acquisition Programme (G-SAP) and other growth-enhancing measures by RBI

Pay Rs 79-cr GST dues to operate bank accounts, HC tells ByteDance

The indirect taxes department has accused ByteDance of evading taxes and not paying its GST dues in full, a charge denied by the Chinese firm

Banks turn RBI's hot-money decision into lucrative trade strategy

At the center is the RBI's decision in February to remove limits on local bank exposures to other countries and central banks

IndusInd Bank: With the balance sheet stabilising, focus shifts to growth

Street's apprehension on asset quality and ability to regain footing on deposits has been arrested

Banks sanctions Rs 25,586 cr to 114,322 Stand-Up India accounts in 5 years

The Finance Ministry on Sunday said banks have sanctioned Rs 25,586 crore to about 1,14,322 beneficiaries under the Stand Up India Scheme in the last five years for promoting entrepreneurship among women and SC & STs. The objective of Stand-Up India is to promote entrepreneurship amongst women, Scheduled Castes (SC) & Scheduled Tribes (ST) categories, to help them in starting a greenfield enterprise in trading, manufacturing and services sector, by both ready and trainee borrowers, the Finance Ministry said in a statement. Under the scheme, bank loans between Rs 10 lakh and Rs 1 crore are provided to at least one Scheduled Caste/ Scheduled Tribe borrower and at least one woman borrower per bank branch of Scheduled Commercial Banks. Started in April 5, 2016, the scheme has benefited 93,094 women entrepreneurs with outstanding loan of Rs 21,200 crore as of March 23. This scheme, which has been extended up to 2025, covers SC/ST and/or women entrepreneurs, above 18 years of age, ..

Private lender Yes Bank targets startup sector, ties-up with GVFL

To broaden its services for the start-up sector, the lender Yes Bank has tied-up with GVFL Limited.

Individual loan business continues to improve in January-March: HDFC

Loans worth Rs 7,503 crore were assigned to its banking subsidiary.

Laid strong base for growth, aiming at 13.5% CAGR by 2025: Indian Bank MD

Bank announces new vision and mission on first anniversary of Allahabad Bank amalgamation, launches Chatbot and IB Smart Office as well

Under Modi regime, private banks outnumber PSBs on new rural branches

Since 2014, public sector banks' branch network in rural and semi urban has grown by a mere 4,000 - from 49,859 in 2014 to 53,467 while for private sector banks, it doubled from 9,673 to 18,437

China's financial regulators draft tougher rules for too-big-to-fail banks

Chinese authorities have started to evaluate systemically important banks this year by measuring assets of the nation's 30 largest lenders.

The forgotten case for bank nationalisation

In the recent clamour for their re-privatisation, we seem to have forgotten the rationale for bank nationalisation and the crucial role public sector banks continue to play in war against poverty

Karnataka Bank targets over Rs 1.42 trn business turnover in FY22

Public sector Karnataka Bank has targeted 12 per cent business growth in the current fiscal year, expecting total business of over Rs 1.42 trillion.

NBFCs seek easing of rules on NACH mandate cancellation

NBFC industry body says this facility should work on "best effort" basis and not be made mandatory as most customers are not tech-savvy and are not comfortable with electronic platforms

Bank credit to medium-sized firms grows 21% in February, shows data

The outstanding loans to large corporations continue to shrink as many of them have repaid existing loans