Page 9 - Banks

SBI, ICICI Bank, HDFC Bank remain systemically important banks: RBI

The RBI on Monday said state-owned SBI, along with private sector lenders ICICI Bank and HDFC Bank continue to be Domestic Systemically Important Banks (D-SIBs) or institutions which are 'too big to fail'. SIBs are perceived as banks that are 'too big to fail (TBTF)'. This perception of TBTF creates an expectation of government support for these lenders in times of distress. Due to this, these banks enjoy certain advantages in the funding markets. "SBI, ICICI Bank and HDFC Bank continue to be identified as Domestic Systemically Important Banks (D-SIBs), under the same bucketing structure as in the 2021 list of D-SIBs," the Reserve Bank said in a statement. The additional Common Equity Tier 1 (CET1) requirement for D-SIBs was phased-in from April 1, 2016 and became fully effective from April 1, 2019. The additional CET1 requirement will be in addition to the capital conservation buffer. The Reserve Bank of India (RBI) had announced SBI and ICICI Bank as D-SIBs in 2015 and 2016. Bas

Contact the bank if you have not signed the new locker agreement

While new rules enhance banks' accountability, buying locker insurance is added protection

Is it time for state-run banks to end industry-wide wage pacts?

While there is still a large talent pool in state-run banks, the reality is that it may not walk in as in the past

RBI working on alternate arrangements for banks hit by EU oversight rule

The RBI is continuously engaged with ESMA and other regulators to arrive at a mutually acceptable arrangement, which recognizes the territorial independence of the host regulator, said central bank

Brokerages pick banks, infra and telecom for 2023 play; IT, metals may drag

The banking sector was a standout performer in 2022 with the Nifty PSU Bank rallying almost 70 per cent

Bank frauds from card, net-based transactions rise, shows RBI report

In terms of the number of frauds, the modus operandi seems to have shifted to card or internet-based transactions

Top Headlines: Banks' balance sheet grows, daily vax rates in India double

Business Standard brings you the top headlines at this hour

Banks' balance sheet grows in double digits after 7 years: RBI report

Gross NPA slips to 5%; regulator flags slippages from recast accounts

SBI Funds Management appoints Shamsher Singh as new MD, CEO of company

SBI Funds Management Ltd on Thursday said it has appointed Shamsher Singh as managing director and chief executive officer of the company. Singh, who was deputy managing director at State Bank of India (SBI), has taken over the charge from Vinay M Tonse following his repatriation to the public sector lender, the asset management company said in a statement. Singh has more than 32 years of rich experience working with SBI in various verticals, including investment banking, treasury, corporate banking and branch banking. He had joined SBI as probationary officer in June 1990 and moved up the ranks to become deputy MD by successfully managing leadership roles across domains besides serving international stints in the US, Bahrain and UAE. "Its a huge responsibility to manage the growth dynamics of the No. 1 mutual fund house in the country... As a market leader our aim is to ensure that more domestic investors consider mutual funds when planning for their financial goals while we reach

NBFCs are not dying to become banks: Industry leaders at BS BFSI Summit

NBFC have certain disadvantages compared to banks on the liability side and they don't have access to demand deposits like commercial banks but this is not a big impediment to growth of the industry

Banks look at possibility of rupee trade with Bangladesh, African nations

Banks are looking at the possibility of initiating rupee trade with Bangladesh and African countries like Egypt as part of exercise to make rupee an international currency, sources said. The overseas trade in rupee would safeguard the external sector from fluctuation in the forex market. India imported goods worth USD 3,520.83 million from Egypt, of USD 1,004.24 million from Algeria and USD 2,725.08 million from Angola in the last financial year. As far as Bangladesh is concerned, the import in the last year from the neighbouring country stood at USD 1,977.93 million, according to the data provided by the commerce ministry. Currently rupee trade arrangements are with Russia, Mauritius and Sri Lanka through Special Rupee Vostro Account (SRVA). Indian banks have already opened SRVA with banks of these three nations, operationalising the rupee trade arrangement. Recently, SBI Mauritius Ltd and People's Bank of Sri Lanka opened an SRVA with State Bank of India (SBI). In addition, Ban

Digital lenders seek cap on default loss guarantee models from RBI

They suggested that the central bank could look at a reasonable cap to the FLDG models, given RBI's concerns of around build-up of systemic risk and 100% risk transfer rather than banning it outright

NBFC-MFIs overtake commercial banks in micro loan market share in Q2

One reason for this shift in trend could be that banks faced challenges in managing this asset class, especially after the outbreak of the Covid-19 pandemic and the resultant lockdowns

NeoGrowth raises Rs 300 cr from Dutch lender FMO, existing investors

Small businesses-focused fintech player NeoGrowth has raised Rs 300 crore from Dutch entrepreneurial development bank FMO along with existing investors. Of the fresh equity capital, Rs 160 crore has been pumped in by the Dutch lender, NeoGrowth said in a statement on Thursday. The money will be used for on-lending and entering new markets, it added. NeoGrowth is also backed by Omidyar Network, Lightrock, Khosla Impact, Accion Frontier Inclusion FundQuona Capital, IIFL Seed Ventures Fund, WestBridge, and Leapfrog Investments. It has Rs 1,600 crore of assets under management and is connected with over 1.5 lakh MSMEs. So far, it has disbursed over USD 1 billion in loans, said MD & CEO Arun Nayyar. Peter Maila, co-chief investment officer at FMO, said NeoGrowth has been a debt client of FMO since 2017 and this is the first equity investment by FMO into the company. The equity allocation was not disclosed by the companies. NeoGrowth offers loans to first-time entrepreneurs, women ...

In 2 weeks, bank tier-2 bond sales soar past AT-1 issues for whole year

Analysts cite credit growth surge, better risk profile of tier-2 bonds behind the rush

Reserve Bank of India removes informal NDF restrictions on banks: Report

India's central bank has lifted informal restrictions placed on banks for trading in the non-deliverable forward market (NDF)

Digital lending apps: RBI received 13,000 complaints against banks, NBFCs

The grievances, filed under RBI's integrated ombudsman scheme of 2021 between April 2021 and Nov 2022, also cite harassment by recovery agents

Not all banks may opt to sell products of 27 insurers, say experts

Insurers are happy with the opening up of the distribution network as they need not shell out huge sums as a sign-in bonus to banks as corporate agents

Banks need to scale up investments in technology, says RBI's MK Jain

Financial institutions must build capacities in analytics and HR, says central bank deputy governor

Bank of Canada hikes policy interest rate by 50 basis points to 4.25%

The Bank of Canada has increased its benchmark interest rate by 50 basis points to 4.25 per cent