Deposits In Banks
Share of Casa in overall deposits at 7-year low of 11.6% by FY23-end
Worse still, Casa deposits' share of incremental deposits has fallen to single digit (6.7%), for the second time in 10 years
 "Share of Casa in overall deposits at 7-year low of 11.6% by FY23-end")
RBI to set up portal to search across multiple banks for unclaimed deposits
The Reserve Bank on Thursday announced to set up a centralised portal to access details of unclaimed deposits by depositors or their beneficiaries across various banks. About Rs 35,000 crore unclaimed deposits as of February 2023 were transferred to RBI by public sector banks (PSBs) in respect of deposits which were not operated for 10 years or more. In order to improve and widen the access of depositors or beneficiaries, it has been decided to develop a web portal to enable search across multiple banks for possible unclaimed deposits, RBI Governor Shaktikanta Das said while announcing the first bi-monthly monetary policy for current financial year 2023-24. State Bank of India (SBI) tops the chart of unclaimed deposits worth Rs 8,086 crore followed by Punjab National Bank Rs 5,340 crore, Canara Bank Rs 4,558 crore and Bank of Baroda Rs 3,904 crore.
 "RBI to set up portal to search across multiple banks for unclaimed deposits")
Small US banks see record drop in deposits after SVB collapse: Fed data
Deposits at small banks fell $119 billion to $5.46 trillion in the week ended March 15
 "Small US banks see record drop in deposits after SVB collapse: Fed data")
BofA gets more than $15 bn in deposits after Silicon Valley Bank collapse
The inflows offer a first glimpse into deluge of deposits that made its way to the country's largest banks as customers fearful of a spreading crisis sought refuge in the firms seen as too big to fail
 "BofA gets more than $15 bn in deposits after Silicon Valley Bank collapse")
Top headlines: FPIs seek six more mths from FinMin, 1st India chip fab soon
Business Standard brings you the top headlines at this hour
 "Top headlines: FPIs seek six more mths from FinMin, 1st India chip fab soon")
Too-big-to-fail US lenders rake in deposits after three banks fail
JPMorgan Chase & Co., the largest US bank, alone received billions of dollars in recent days, and Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. are also seeing higher-than-usual volume
 "Too-big-to-fail US lenders rake in deposits after three banks fail")
Banks increase deposit rates on tight liquidity, high credit growth
Banks have made a beeline to increase rates on their deposits as liquidity in the system has tightened and the credit growth in the system has remained consistently high
 "Banks increase deposit rates on tight liquidity, high credit growth")
Valuation gap with peers is expected to narrow for Axis Bank
It is leveraging the digital ecosystem, focusing on acquisition of corporate salary accounts, and also cross-selling products to existing clients
 "Valuation gap with peers is expected to narrow for Axis Bank")
Bank credit grows 17.5% in a fortnight; deposits up 10%: RBI data
Country's largest lender State Bank of India (SBI) raised deposit rates by 15-100bps, the maximum increase being for bulk deposits
 "Bank credit grows 17.5% in a fortnight; deposits up 10%: RBI data")
Bank of Baroda hikes MCLR up to 30 basis effective December 12
The revised rates will be effective from December 12
 "Bank of Baroda hikes MCLR up to 30 basis effective December 12")
ICICI, Axis, IDFC First Bank hike deposits rate for above Rs 2 crore
Hike rates after credit growth expands 15.3%
 "ICICI, Axis, IDFC First Bank hike deposits rate for above Rs 2 crore")
Flows into NRI deposits nosedive to mere $349 mn in June quarter
Outstanding deposits declined to $135.9 billion at the end of June 2022 from $141.5 billion a year ago.
 "Flows into NRI deposits nosedive to mere $349 mn in June quarter")
As credit demand grows, banks may soon be scrambling for deposits
Loan growth in India is at a 3-year high and seen inching up further as economic activity gains traction but a much slower growth in deposits could send banks scurrying for funds
 "As credit demand grows, banks may soon be scrambling for deposits")
South Indian Bank net profit up 10-fold in Q1, asset quality improves
In Q1, South Indian Bank's gross advances saw a growth of 10.95 per cent compared to the same period last financial year
 "South Indian Bank net profit up 10-fold in Q1, asset quality improves")
Credit-deposit growth gap widens to a three-year high of nearly 5%
Development fuels concern that slow deposit growth could emerge as one of the biggest constraints for loan growth in the system
 "Credit-deposit growth gap widens to a three-year high of nearly 5%")
PNB customers must give details of high-value cheques before clearance
To sensitise its customers against high-value cheque frauds, Punjab National Bank urged them to submit details about cheques at least a day before clearance under Positive Pay System (PPS) framework.
 "PNB customers must give details of high-value cheques before clearance")
Cap on term deposit while opening bank locker will end arbitrariness
Your bank will bear limited liability for the contents of your locker, so buy insurance
 "Cap on term deposit while opening bank locker will end arbitrariness")
Bank credit grows by 6.36% while deposits jump by 11.41%: RBI data
The numbers are up to the fortnight ended January 15
 "Bank credit grows by 6.36% while deposits jump by 11.41%: RBI data")
How faster deposit growth could become counterproductive for banks
Should deposit growth continue to outpace credit growth, banks may end up ceding some hard-earned 25-50 bps improvement in profitability or net interest margin gained in the past two years
 "How faster deposit growth could become counterproductive for banks")
Bank credit up 5.5% to Rs 102.65 trillion, deposits rise 11.1%: RBI data
On an year-on-year (YoY) basis, non-food bank credit growth was at 6.7 per cent in June 2020
 "Bank credit up 5.5% to Rs 102.65 trillion, deposits rise 11.1%: RBI data")
