Page 46 - Banking Sector

Federal Bank aims 'mid-teen' growth in credit for fiscal 2022

The firm is aiming for an acceleration in credit growth into 'mid-teen' figures in 2021-22

HSBC to announce exit from US retail banking, reshuffles top jobs

HSBC on Tuesday is set to report an expected plunge in annual profits reflecting the impact of the Covid-19 pandemic

Unsecured loans come back to haunt private banks after 13-year gap

ICICI Bank, Axis, among others see rise 'proforma' slippages in Q3

SBI Payments to launch YONO Merchant app for low-cost payments

SBI Payments is a subsidiary of India's largest lender State Bank of India

SC gives RBI six months to lay down regulations for locker facility

The court held that banks cannot wash off their hands towards their customers for the operation of lockers

Karnataka Bank reports Rs 34.16-crore fraud to Reserve Bank of India

Private sector lender Karnataka Bank on Friday said it has reported to the RBI a fraud of about Rs 34.16 crore in credit facilities extended to IL&FS Transportation Networks, which is a dud account now. "The bank has reported to RBI (Reserve Bank of India) a fraud in the credit facilities extended earlier to IL&FS Transportation Networks Ltd with an outstanding balance of Rs 34.16 crore (defaulted entity)," Karnataka Bank said in a regulatory filing. The lender said IL&FS Transportation had availed credit from it during 2016 under multiple banking arrangement in which Karnataka Bank was one of the members. During 2018, the borrowing account was classified as non-performing asset and has been fully provided for, it added. Karnataka Bank stock closed 0.72 per cent down at Rs 69.40 apiece on BSE.

80% Indian corporate banks to leverage Cloud by 2024: Report

Nearly 80 per cent of corporate banks in India are forecast to run their trade finance and treasury workloads on Cloud by 2024, said a new IDC report

Bank unions plan march towards Parliament in Mar to protest privatisation

Bank unions on Friday staged protest in all the state capitals

IDFC First Bank gets board approval for Rs 3,000 crore fund mop-up

Private sector IDFC First Bank on Thursday said its board has okayed raising up to Rs 3,000 crore through various means.

Ranbaxy-Daiichi case: SC asks lenders to place loan records of promoters

The Supreme Court Thursday directed 17 banks and financial institutions of former Ranbaxy promoters Malvinder and Shivinder Singh to place on record the paperwork related to the loans in question

IndusInd Bank gets Rs 2,021 crore capital boost from promoters

The firm has received Rs 2,021 crore equity from the promoters after the conversion of preferential warrants into equity shares

Billionaire Hinduja family pays 61% premium to boost IndusInd stake

The family's holding in the lender shrank to 13% following its merger with the nation's largest microlender Bharat Financial in July 2019

Government to infuse Rs 1,500 crore into Exim Bank next fiscal

The Centre has decided to infuse Rs 1,500 crore capital into state-owned Export-Import Bank of India (Exim Bank)

Govt to bring amendments to two Acts to enable privatisation of PSU banks

To facilitate privatisation of public sector banks, the government is likely to bring amendments to two legislations later this year

ICICI to buy over 9% stake in fintech startup Thillais Analytical Solutions

The firm said it has entered into an agreement with fintech startup Thillais Analytical Solutions Pvt Ltd to buy 9.65 per cent stake in the company

Indian Bank integrates core banking software of erstwhile Allahabad Bank

Indian Bank on Monday said it has successfully integrated the software system with the erstwhile Allahabad Bank post the amalgamation

Reserve Bank of India forms expert panel for urban co-operative banks

The RBI has constituted an expert committee under the chairmanship of its former Deputy Governor N S Vishwanathan

Financing the recovery: Are banks in a position to partner India Inc?

The FSR projects a sharp increase in banks' gross non-performing assets by September 2021

How did a five-member external jury select the BS Banker of the Year?

The jury picks Shyam Srinivasan for Federal Bank's consistency of performance

We are a digitally relevant, contemporary franchise: Federal Bank CEO

I am ready to play the long game, which means that sometimes governance takes premium overshort-term tradeoffs , says CEO Srinivasan