Page 3 - Indian Banking System

PM Narendra Modi dedicates 75 Digital Banking Units across 75 districts

With an aim to promote financial inclusion, Prime Minister Narendra Modi on Sunday dedicated 75 Digital Banking Units (DBUs) to the nation.

Bank holiday: In October, banks will remain closed for total 21 days

Starting today (October 3), the banks in some cities will remain closed for the entire week because of festivals

Rothschild plans to hire 7 bankers in India before year-end for expansion

The expansion comes as India's dealmaking is bucking a global downturn driven by concerns over heightened inflation and a potential recession

Public sector banks plan to establish verticals for big data, analytics

PSBs will also launch digital-only goods, services in the upcoming year with minimal data entry requirements, automated checks, and underwriting for consumers

We're looking to hire 1,700 bankers this year: Central Bank of India MD

Rao says he doesn't foresee much flight of CASA money into term deposits as deposit rates are hiked

Banking system liquidity may remain in deficit in second half: Analysts

Liquidity in India's banking system is likely to remain in deficit in the second half of this financial year as credit growth picks up and the circulation of currency notes rises, analysts said

India's banking system liquidity slips into deficit after 40 months: RBI

India's banking system liquidity has slipped into deficit for the first time in nearly 40 months, according to the Reserve Bank of India

FSDC stresses on the need to monitor India's financial sector risks

Meeting discusses that it's endeavour of regulators to ensure incidents like the NSE colocation scam don't repeat and there are better ways to deal with the fallout

S&P affirms State Bank of India's 'BBB-' rating on improving asset quality

The rating agency also affirmed the short-term issuer credit rating 'A-3' and maintained stable outlook for the rating

Digital lending norms aim to protect customer interest: RBI's Rao

Deputy Governor says guidelines issued on August 10 aim to curb exploitation of regulatory arbitrage

PSU banks to open about 300 branches in unbanked areas by Dec 2022: Report

As part of the financial inclusion drive, public sector banks will open about 300 brick-and-mortar branches in the unbanked areas of various states by December 2022. These new branches will cover all remaining unbanked villages with a population of more than 3,000, according to sources. A Maximum number of 95 branches will be opened in Rajasthan followed by 54 in Madhya Pradesh. The public sector banks will open 38 branches in Gujarat, 33 in Maharashtra, 32 in Jharkhand and 31 in Uttar Pradesh. The progress with regard to the opening of branches in the rural areas was reviewed in the recent meeting of heads of public sector banks with the Financial Services Secretary last month. Banks have been asked to open branches at allocated locations by the respective State Level Bankers' Committee (SLBC) by December 2022, the sources said. Bank of Baroda will open 76 branches, while State Bank of India will establish 60 branches. Financial Inclusion is a national priority of the governmen

Centre may revamp framework for setting state-owned banks' targets

New framework could be on lines of earlier 'Statement of Intent' used to fix annual targets, will monitor performance on parameters such as return on assets, NPA, financial inclusion initiatives

Axis Bank hikes MCLR by 5 bps across tenors, follows other lenders

Banks change lending policy to keep up with monetary policy committee's raising repo rate

Bank Locker Rules: Here's everything you should know to protect your assets

The Reserve Bank of India regularly updates rules for improving the safety and convenience of the bank customers. These are the Bank locker rules that everyone should know.

India's bank liquidity surplus rises after a sharp drop last week

India's banking system liquidity surplus rose to more than 2 trillion rupees on Wednesday, after dropping to a near three-year low below 500 billion rupees ($6.34 billion) last week.

After PMC Bank, Wadhawans duped Indian Bank of Rs 279 crore

The Chennai-based public sector Indian Bank has admitted to a major loan default of Rs 279 crore by the realty group, Housing Development & Infrastructure Ltd (HDIL) Mumbai, and its suspended Directors -- Rakesh Kumar Wadhawan and son Sarang Wadhawan.

State Bank of India changes ATM withdrawal rules; Check new guidelines here

In a bid to protect the customers against ATM frauds, a withdrawal of or more than Rs 10,000 from the SBI account will now be possible only on entering the OTP in the ATM

Understanding Positive Pay System necessary to encash cheques from August 1

Several banks including BoB and SBI have issued notifications asking customers to register under PPS before August 1 to encash high-value cheques

Banks likely to lose Rs 11,790 cr in Q1 on bond rally, says report

Banks are unlikely to take a big hit on profitability this quarter due to rising bond yields, which may eat up 5.3 per cent (Rs 11,790 crore) of their net income in the worst-case scenario

IndusInd Bank's board gives nod to mobilise Rs 20,000 cr via debt

Private lender IndusInd Bank of Monday said its board has approved a proposal to raise Rs 20,000 crore in debt to fund business growth.