Page 17 - Banks

ICICI Bank, UK's Santander sign MoU to ease corporate banking at both ends

The partnership is aimed at serving the banking needs of the corporate ecosystem in the growing UK-India corridor, the banking executive noted.

RBI hikes repo rate by 40 bps: Analysts see muted impact on banks' NIM, PAT

Non-bank finance companies (NBFCs), however, may feel more heat, except those engaged in mortgage financing

More is less in client communication

Sarika likes to go through all the communication she receives and then take an informed decision. She was hassled because this deluge was hindering her

Banks, FIs will have to factor cross-holding norms for investing in LIC IPO

State-owned insurer is a significant investor in banks' capital, especially in public sector lenders.

Barclays suspends market making in its own debt after blunder

Barclays disclosed on March 28 that it had exceeded a U.S. limit on sales of structured products, triggering a loss and a potential restatement of 2021 accounts of two units

Consumer loans up 32% in festive season of FY22, marking demand revival

The festive season spanning October-December period saw origination worth Rs 19,356 crore in FY21.

Banks globally need to compete with fintech players to keep pace: Report

Nearly half of respondents said their current banking relationships were neither rewarding (49 per cent) nor emotionally connected (48 per cent), while 52 per cent said banking was not 'fun'

'Unconfirmed LC binds only the issuing bank to pay'

In a freely negotiable LC, any bank can negotiate the LC compliant documents, pay the party and claim reimbursement in accordance with the instructions of the LC issuing bank.

Govt setting up 75 digital banks this year, says FM Nirmala Sitharaman

Sitharaman is in Washington DC to attend the annual spring meeting of the International Monetary Fund and the World Bank

Listed commercial banks likely to report 77% rise in Q4 net profit

The combined profit after tax (net profit) of the 17 banks under review is expected to grow to Rs 42,013 crore for Q4FY22

Decline in bad loans to improve profitability of banks: Report

Capital ratios at Public Sector Banks (PSBs) have improved in the past year, helped by capital infusions from the government, it said

Bank credit growth seen in double digits in Q4; flat NIMs likely: Analysts

Q4 preview: Analysts believe earnings momentum is likely to gather pace, with healthy loan growth, stable margins, and improving asset quality trends

What is KYC and why is it mandatory to avail many financial services?

The RBI imposed a fine of Rs 93 lakh on a major private lender last week for rules violations -- including that of Know Your Customer or KYC. But what is KYC? Here is some insight

Sensex snaps 3-day losing run on RBI policy, rises 412pts up; yields up 2%

CLOSING BELL: The RBI also announced revised inflation and GDP growth forecasts in-line with market expectations

HDFC Bank, HDFC to merge in $40 billion deal to create lending behemoth

The transaction involves the amalgamation of HDFC and its two wholly-owned subsidiaries HDFC Holdings and HDFC Investments with HDFC Bank

Federal Bank's advances rise 10% to Rs 1.47 trn in FY22; deposits up 5%

The private sector lender's interbank deposits plunged by 62% to Rs 1,162 crore during the year ended March 2022, and the certificates of deposit fell by 59.3% to Rs 2,437 crore.

Regional rural banks may also be allowed to turn into SFBs: SBI Research

In fact, some of the large RRBs are bigger than the SFBs currently operating in the market

RBI extends timelines for banks to use lockable cassettes in ATMs by a year

The RBI decided to extend the timeline after it received representations from various banks and Indian Banks' Association expressing difficulties in meeting the timeline

Fintech has spread far and wide in India, banks need a counterattack

Banks aren't intuitively geared to handle the unique requirements of small businesses

Seven banks to disburse Rs 1,500 cr to complete stalled Amrapali projects

A consortium of seven banks will disburse Rs 1,500 crore loans to complete the construction of stalled projects of erstwhile Amrapali group, following a direction by the Supreme Court. The state-owned NBCC has undertaken the completion of many residential projects in Noida and Greater Noida under the aegis of Amrapali Stalled Projects and Investment Reconstruction Establishment (ASPIRE) and supervision of the Supreme Court. On March 28, the Supreme Court directed the Bank of Baroda-led consortium of seven banks to effectuate disbursal of Rs 1,500 crore by Tuesday for the construction of stalled real estate projects of Amrapali Group. In a statement, NBCC said that an agreement has been signed between ASPIRE and a consortium of seven public sector banks on March 29 for the disbursal of Rs 1,500 crore loan for stalled Amrapali projects. The seven banks in consortium are -- Bank of Baroda, Indian Bank, UCO Bank, Punjab National Bank, Bank of India, State Bank of India and Punjab & ...