Page 8 - Banks

Central Bank Q3 net rises 64.16% at Rs 458 cr on improved margins

State-owned lender reports first full quarter after exiting regulator's Prompt Corrective Action regime

RBI guidelines may prompt J&K Bank to dilute promoter shareholding

The union territory of Jammu & Kashmir has 64.5 per cent stake in J&K Bank while UT of Ladakh has about 4.5% stake

Increased provision on CET1 for loan loss to be phased out: RBI paper

The RBI will introduce an ECL approach for loan loss for banks, as compared to the incurred loss approach at present, one year after announcing the final guidelines

RBI prior approval now a must for picking up over 5% stake in banks

RBI has defined "major shareholding" as "aggregate holding" of five per cent or more of the paid-up share capital or voting rights in a banking company by a person

Financial conditions to be tighter due to Fed's decadal-high rates: Crisil

Liquidity conditions will also not return to surplus as seen in the pandemic years, which will maintain fundamental pressure on domestic interest rates

Bank of Maharashtra to raise up to Rs 1,000 crore from share sale in Q4: MD

As per the Sebi norms, listed entities are required to have at least 25 per cent public shareholding

Bank of Maharashtra Q3 PAT jumps two-fold to Rs 775 cr due to asset quality

State-run Bank of Maharashtra (BoM) on Monday reported a two-fold jump in its standalone profit after tax (PAT) at Rs 775 crore in the quarter ended December 2022 due improved asset quality.

Privatisation and debt are on the radar of bankers

Banks were challenged in 2022 by the sluggish growth in deposits, which have not kept pace with credit. One reason is that deposits, unlike debt mutual funds, do not offer any tax breaks

India lets banks use face recognition, iris scan for transactions: Rpts

The Indian government is allowing banks to verify individual transactions that exceed a certain annual limit using facial recognition and an iris scan in some cases, in a bid to reduce fraud

Credit growth of scheduled commercial banks tapers off in December

Banks extended loans of almost Rs 1.5 trillion during the fortnight ended December 30

Banks want CRR, SLR, priority sector exemption for sovereign green bonds

Suggest green masala bond to attract foreign investors

Financialising the economy

The sector is expected to outperform

Fino Payments Bank ups interest rate on savings deposit to 5%

In addition to the hike in interest, the bank's customers will also get monthly interest pay-outs on their balances.

Banks raise record Rs 91,500 crore in debt capital in FY23 so far: Report

Amid tight liquidity condition, banks have issued a record quantum of bonds, with gross issuances hitting an all-time high of Rs 91,500 crore so far this fiscal, and are likely to close the financial year with around Rs 1.4 lakh crore. Gross bond issuances by banks is estimated to reach Rs 1.3-1.4 lakh crore this fiscal as debt sales have already hit record high of Rs 0.915 lakh crore, surpassing the previous high of Rs 0.8 lakh crore in FY17, Icra Ratings said in a note on Monday. The agency said this alternate resource of fund raising by banks is on the back of widening credit-deposit gap. With credit demand continuing to outdo deposits throughout this fiscal, the overall gap between deposits and credit growth widened substantially. Incremental credit expansion stood at Rs 12.7 lakh crore, while deposit accretion continued to trail at Rs 8.9 lakh crore, till December 16, 2022. To bridge this gap, banks have been relying on various sources of funding such as refinance from financia

Total business to cross Rs 2 trn milestone soon: Punjab & Sind Bank MD

Punjab and Sind Bank is expected to cross Rs 2 lakh crore business milestone soon on the back of robust growth in loans, its managing director Swarup Kumar Saha has said. In the third quarter of the current financial year, he said, the bank has witnessed a credit growth of 17 per cent to Rs 78,049 crore. "Topline growth is in line with our guidance while other key parameters like asset quality and slippages are also under control," he told PTI. The bank's current account and savings accounts increased by 11.33 per cent to Rs 36,460 crore at the end of the third quarter. The total business rose by 12.26 per cent to Rs 1.87 lakh crore at the end of December 31, 2022, Saha said. Talking about new initiatives, Saha said the bank has recently partnered with SBI Card to launch co-brand credit cards for its customers. Available in three variants -- PSB SBI Card ELITE, PSB SBI Card PRIME and PSB SimplySAVE SBI Card -- will have access to a wide suite of exclusive privileges. The bank is

Banks reluctant to fund loss-making Vodafone Idea before capital hike

"Without that (capital injection) it looks difficult for the company to ...survive," said one top official at a state-owned bank

Banks, FIs should play key role in financing NIP projects: DFS secy

NIP has expanded to over 9,000 projects covering 34 infrastructure sub sectors

Banks, FIs must design project-based products to meet NIP target: DFS secy

Banks and financial institutions need to design products in sync with requirements of infra projects in view of the whopping Rs 111 lakh crore National Infrastructure Pipeline (NIP), Financial Services Secretary Vivek Joshi said on Thursday. Observing that the infrastructure sector has strong backward and forward linkages with the robust multiplier effect across the sectors, he said, NIP along with other initiatives like Make in India, Production-Linked Incentive scheme is poised to catapult India to a USD 5 trillion economy. Under the aegis of PM Gatishakti portal, he said, NIP projects with a total outlay of Rs 111 lakh crore are being monitored. The NIP, which started with 6,800 projects, has now expanded to over 9,000 projects covering 34 infrastructure sub-sectors. While 44 per cent of investment is funded through the central and state budgets, banks, financial institutions and Development Finance Institutions (DFIs) are expected to play a crucial role in financing of these ...

Odisha-based Annapurna Finance applies for universal bank license

Established in 2009, the MFI has been promoted by People's Forum, a society registered in Odisha, which comes under the RBI's NBFC-MFI category

Mid-rung lenders register 12-26% credit growth in Oct-Dec quarter

Sequentially, few banks have reported higher deposit growth than credit growth