Page 48 - Banking Sector

RBI makes risk-based internal audit mandatory for select NBFCs, UCBs

The central bank had introduced RBIA for scheduled commercial banks (SCBs) in 2002.

Budget 2021: Bad bank will be a win-win for lenders, says Debasish Panda

All banks are eligible for privatisation. A committee of secretaries will decide which banks will be privatised, said Panda

Nifty Bank index buoyant as long-standing demands are met in Budget

Increase of 12.1 per cent clocked in two days is the highest gains posted by the index in almost a year

Germany lays out reform of banking watchdog after Wirecard fraud

The acknowledgement of problems was a fresh indictment of Germany's supervision of a company that began by processing payments for gambling and pornography before becoming a star of fintech

What about the Bank Investment Company in Sitharaman's Budget 2021?

Between 2015-16 and 2019-20, the Centre had pumped in Rs 3.56 trillion into these banks through both direct subscription of equity shares and recapitalisation-bonds

Budget 2021 lays out road map for overhaul of state-run companies

The policy classifies central public-sector companies, banks and insurance companies into four strategic areas

Budget 2021: All eyes will be on the package FM unveils for state-run banks

A status check on the consolidation of four sets of state-run banks offers clues to the hard decisions that are needed, write Abhijit Lele and Raghu Mohan

ICICI Bank third quarter net profit jumps 19% to Rs 4,940 crore

The lender was helped by a surge in net interest income

ICICI Bank's Q3 net profit increases 17% to Rs 5,498 crore

Its total income increased to Rs 24,416 crore from the year-ago's Rs 23,638 crore, while the total expenditure was lower at Rs 15,596 crore as against Rs 16,089 crore

Union Bank of India net profit falls 37% to Rs 727 crore in Dec quarter

Net interest income for the reporting quarter rose 4.85 per cent to Rs 6,590 crore, from Rs 6,285 in Q3FY20.

To avoid zombie lending, banks need fully empowered boards: Eco Survey

The survey has put the blame of the current banking crisis on the zombie lending following the Global Financial Crisis in 2008

RBI says it will charge banks if they do not improve customer grievance

To operationalize the cost-recovery framework for banks, peer groups based on the asset size of banks as on March 31 of the previous year will be identified

State Bank of India asset quality remains healthy: Chairman Khara

The faster-than-expected economic recovery may limit the impact to lenders' balance sheets, Khara said

LIC-owned IDBI Bank posts Q3 net profit of Rs 378 crore as NII grows

Life Insurance Corporation -owned IDBI Bank reported a standalone net profit of Rs 378 crore for December quarter 2020-21 on the back of healthy growth in interest income. The lender, which is under the Reserve Bank of India's prompt corrective action (PCA) since May 2017, had reported a standalone net loss of Rs 5,763 crore in the year-ago quarter. On a consolidated basis, its profit after tax stood at Rs 393.15 crore, compared to a loss of Rs 5,728.70 crore last year. The profit has increased to Rs 378 crore in the quarter. It has been contributed by growth in the other income and net interest income. Our operating profit grew by 32 per cent (quarter-on-quarter) and net interest margin has increased to 2.87 per cent, bank's managing director and CEO Rakesh Sharma told reporters. Net interest income (NII) grew 18 per cent to Rs 1,810 crore as against Rs 1,532 crore in the same quarter of the previous fiscal. Its net interest margin (NIM) improved by 60 basis points to 2.87 per ce

IDBI Bank shares gain over 2% after third quarter earnings

The firm reported a standalone net profit of Rs 378 crore for the December quarter

Bank of Baroda clocks Rs 1K-cr profit, warns of stress in retail, SME loans

Despite interest income declining by almost 7 per cent, the lender's NII rose 8.65 per cent to Rs 7,749 crore

Agri-NBFCs seek parity with banks, want inclusion in govt subsidy schemes

The government may consider including agri-NBFCs in all state supported subsidy schemes and programmes

Dhanlaxmi Bank Board approves appointment of Shivan as MD and CEO

Earlier, RBI had asked the lender's board to get shareholders' approval before appointing Shivan as the next MD and CEO

UCO Bank logs net profit at Rs 35 cr in Q3, stock closes 1.55% higher

Its gross non-performing Assets declined to 9.8 per cent in December 2020 from 19.45 per cent a year ago.

RBI open to digital currency, examining the need to introduce CBDC

A CBDC is legal tender and a central bank liability in digital form denominated in a sovereign currency and appearing on the central bank's balance sheet.