Page 7 - Banking

LIBOR transition: SBI says ready to embrace new alternatives

The bank said it will spread awareness about the transition among customers and extensive client groups through curated knowledge sharing sessions

RBL Bank depositors protected, unanswered questions remain: AIBEA

'Section 45 of the Banking Regulation Act gives the depositors the necessary protection'

J&K Bank board appoints Baldev Prakash MD & CEO for three years

Jammu & Kashmir Bank on Tuesday said its board of directors has appointed Baldev Prakash as the MD & CEO for three years. The board of directors in the meeting held on December 28 has appointed Baldev Prakash as Managing Director & Chief Executive Officer of the bank for a period of three years, J&K Bank said in a regulatory filing. His appointment will be effective from the actual date of his taking charge, the bank said. The board also appointed R K Chhibber as an additional director on the board of the bank to be effective from the date Baldev Prakash takes charge as MD&CEO of the bank, it said further. In October this year, the RBI had approved the appointment of Prakash as the next MD&CEO of J&K Bank. His appointment was slated from the date of taking charge or April 10, 2022, whichever earlier. Prakash has over 30 years of experience in banking in various roles at small and large size branches at SBI. He had joined SBI as a probationary officer in ...

Indian banks must bolster capital and augment credit flow, says report

Due to the pandemic, credit growth of commercial banks had been subdued in 2020/21 but non-banking finance companies filled up the space, RBI said

Banks need to strengthen corporate governance, says RBI report

The Reserve Bank emphasised it will endeavour to ensure a safe, sound and competitive financial system through its regulatory and supervisory initiatives

RBI releases report on trend and progress of banking in India: Highlights

Return on assets of SCBs improved from 0.2 per cent at end-March 2020 to 0.7 per cent at end-March 2021, aided by stable income and decline in expenditure, states the report

ED seizes Rs 293 cr worth shares of ex-Tamilnad Mercantile Bank chairman

The seized assets are in the form of shareholdings of Muthu alias MGM Maran in four Indian companies

HDFC Bank ties up with IPPB to serve semi-urban, rural areas

About 90 per cent of IPPB customers reside in rural areas

BBB invites applications for position of Union Bank of India MD

The post of MD and CEO would fall vacant at Mumbai-based Union Bank of India upon retirement of Rajkiran Rai G in May 2022

Banks' better NPA recovery, declined provisioning to continue in 2022: ICRA

The improvement in such parameters has helped realise better profitability for the banks, the rating agency said

Corporate-promoted NBFCs can have 15% stake in banks, with increase in cap

Banking experts said the move to increase non-promoter shareholding would help lenders with greater access to capital

FIBAC 2021: India Inc spoilt for choice as funding avenues open up

Panelists at FIBAC say banks lose monopoly of being only source of funding to firms

Building a brave new world of banking

The differentiated banking model, therefore, has been far from convincing and may take more time to stabilise

Central Bank of India, U GRO tie up for co-lending to MSMEs

The disbursement will be to U GRO Capital's varied MSME segments under its programs - Pratham, Sanjeevani, Saathi, GRO MSME and machinery financing

Govt appoints non-official directors on boards of various banks

The government has appointed Non-Official Director (NOD) on the board of these banks for three years

RBI empanells CSB Bank to undertake banking biz of central, state govts

This appointment will allow CSB Bank to undertake general banking business of the central and state governments which may be entrusted by the RBI, the bank said

SBI's exposure to road sector at Rs 90,000 crore, says Dinesh Khara

SBI's exposure to the road sector is close to Rs 90,000 crore, which is 37 per cent of the total banking exposure to the segment, its Chairman Dinesh Khara said on Friday. Speaking at a national conference on investment opportunities in highways, transport and logistics, he said State Bank of India (SBI) is a trusted partner in the growth of the roadway sector in the country. "For all purposes, SBI's exposure to the road sector at Rs 90,000 crore is almost 37 per cent of the total banking exposure to this particular sector," Khara said. The lender has granted credit worth Rs 35,000 crore as of June 30, 2021 to support the National Highways Authority of India (NHAI) for execution of multiple road infrastructure projects. It has granted credit worth Rs 5,000 crore to the SPV (special purpose vehicle) for Delhi-Mumbai Expressway, and has recently extended credit of Rs 8,000 crore to the initiative, he said. The bank is the largest lender to the recently launched National Highways Inf

Two-day bank strike ends; banking operations hit across Maharashtra

Banking operations across Maharashtra remained impacted for the second straight day on Friday as employees of state-run lenders continued their two-day strike against bank privatisation

Bank strike continues for second day, services hit at many places

Banking services across Tamil Nadu remained hit for the second day on Friday with employees union staging a protest against the proposed privatisation of nationalised banks by the government

ICICI Bank raises Rs 5,000 crore debt capital by issuing bonds

The board of directors of the bank had in April this year approved to raise funds by issuing debt securities