Page 7 - Banks

European banks operating in India seek 2-year breather for ESMA deadline

Resolution between ESMA, RBI before May 1, 2023 seen as unlikely

Cash recyclers to tango with bank branches: How does this help?

The ATM will emerge as a remittances channels, enabling cash drops by customers and cash-outs by recipients of direct benefit transfers

Trade leaders demand to constitute digital payment regulation board

Faster adoption and acceptance of digital payments in India if transaction charges levied by the banks on digital payments is waived and a Digital Payments Regulation Board is constituted.

Bank credit profiles not at much risk from Adani exposure, says Fitch

State-owned lenders could see pressure to refinance group's debt if global market shun it

Banks' exposure to Adani group 'insufficient' to pose credit risk: Fitch

MUMBAI (Reuters) -The exposure of banks to the embattled Adani Group is 'insufficient in itself' to present a substantial risk to credit profiles of these lenders, Fitch Ratings said in a note.

Marginal pressure on banks next fiscal, net interest margin may fall: Fitch

Banks will face margin pressure next fiscal as they increase the deposit rates to attract funds to support sustained high loan growth, and the same will fall by 10 basis points to 3.45 per cent, a global rating agency said on Monday. "We expect the domestic banking sector's average net interest margin to slightly contract by about 10 bps (basis points) in FY24 to 3.45 per cent, following a 15 bps increase in FY23 to 3.55 per cent, in a base case scenario, but remain well above that during FY17-FY22 average of 3.1 per cent," Fitch Ratings said in a report. However, the 10 bps likely reduction in margin is unlikely to affect banks' profitability in the near term. Higher fee income -- stemming from higher loan growth -- and a revival in treasury gains should broadly counterbalance the twin pressures of higher credit costs and funding costs in FY24, while supporting capitalisation. This contraction is consistent with the lagged normalisation in deposit rates, although banks should be ab

Neither macro fundamentals nor country's image impacted by Adani saga: FM

Banks have an exposure of Rs 80,000 crore to the conglomerate, with the SBI leading the pack with Rs 27,000 crore

Fino Payment Bank's Q3 net profit jumps by 35% on widening margins

Fino Payments Bank on Thursday posted a 35.5 per cent jump in its December quarter net profit at Rs 19.1 crore, aided by widening profit margins. The Navi Mumbai-based payments bank said its revenues grew 14.2 per cent to Rs 314.1 crore during the reporting quarter. The operating cost grew by just 2.5 per cent to Rs 61.9 crore, resulting in the widening of the operating profit margin to 12.4 per cent as against 9.4 per cent in the year-ago period. "Our growth and profitability led approach is yielding good dividends. The strategic focus on customer acquisition is working well," its managing director and chief executive Rishi Gupta said.

Budget proposals don't seek privatisation of state-owned banks: DEA Secy

Finance Minister announced that to simplify, ease and reduce cost of compliance, financial sector regulators will be requested to carry out a comprehensive review of existing regulations

Rating firms seek exposure details from lenders on Adani companies

Rating agencies seek exposure details from lenders; their exposure amounts to 38% of the group's total debt

Indian lenders expect pick up in retail deposits as interest rates rise

Currently, most large lenders offer deposit rates between 6.75% and 7.30% for 1-2 year deposits and between 5.75% and 7.25% for longer-term deposits

Banks get time till Dec end to renew safe deposit locker agreements

RBI has asked them to complete work in phases with intermediate milestones of 50% by June 30, 75% by Sept 30

RBI orders SBM Bank to stop transactions under remittance scheme

The scheme allowed Indian residents to freely remit funds abroad up to $250,000 per financial year

Banks get time till Dec 31 to execute revised agreement with locker holders

The RBI on Monday extended the time till December-end for banks to enter into revised agreements with safe deposit locker holders as a large number of customers are yet to do so. In August, 2021 the Reserve Bank of India (RBI) had asked banks to enter into revised agreements with the existing locker holders by January 1, 2023 in view of various developments in the area of banking and technology, nature of consumer grievances and also the feedback received. "However, it has come to the notice of RBI that a large number of customers are yet to sign the revised agreement. "In many cases, the banks are yet to inform the customers about the need to do so before the stipulated date (January 1, 2023)," the central bank said in a statement while extending the deadline for banks to complete the process of renewal of agreements for the existing safe deposit lockers in a phased manner by December 31, 2023. Banks have been asked to notify all their customers of the revised requirements by Apr

War for deposits will intensify

For most banks, the liability part of the balance sheet has been on autopilot, and the strategies have evolved around credit growth and recovery of bad loans. Now the story has to change

Raise credit penetration in 112 aspirational dists, FinMin tells banks

The Finance Ministry on Friday asked banks to further increase credit penetration in aspirational districts and ensure availability of at least one banking outlet within 5 km of all inhabited villages. Progress of 112 Aspirational Districts under Targeted Financial Inclusion Intervention Programme (TFIIP) was discussed in detail during a review meeting of Lead District Managers (LDMs) of aspirational districts and State Level Bankers' Committee (SLBC) convenors chaired by banking secretary Vivek Joshi. "Banks were also requested to run financial literacy camps in villages with the help of Panchayati Raj institutions to further improve the performance of financial inclusion schemes. A reward and recognition programme for performing districts and SLBCs was also discussed," said an official release. Joshi appreciated the efforts of SLBCs and LDMs in furthering the drive for financial inclusion in the country and requested LDMs and SLBC convenors to utilise the next six months with ...

RBL Bank's Q3 results: Net profit jumps 34% YoY on firm NII growth

The net NPA ratio was at 1.18 per cent as on December 31, lower than 1.26 per cent a quarter ago and 1.85 per cent a year ago

Union Bank of India reports two-fold jump in Q3 profit at Rs 2,245 cr

Union Bank of India on Friday reported two-fold jump in standalone profit at Rs 2,245 crore for third quarter ended December 2022 helped by decline in bad loans

SBI raises Rs 9,718 cr via second tranche of infrastructure bonds at 7.70%

This is the second fund-raising since early December when it had mopped up Rs 10,000 crore via infra bonds

IndusInd Bank posts bigger-than-expected Q3 net jump of 68% to Rs 1,959 cr

Analysts were expecting a profit of Rs 1,859 crore, according to Refinitiv IBES data