Page 4 - Indian Banking System

HDFC Bank lost Rs 50k-cr corporate loans as competitors offered lower rates

Merger-related dispensations separately handled by RBI, says HDFC Bank CFO Srinivasan Vaidyanathan

Negative interest rate and financial repression

Investments drive growth but how will investors get funds if the savings pile shrinks with no incentive to save in a negative interest rate regime?

Govt revamps Banks Board into Financial Services Institutions Bureau

Guidelines for selection of general managers and directors of public sector general insurance companies have been made part of FSIB

S&P affirms ICICI Bank's 'BBB-' rating on improved asset quality

As S&P affirms ICICI Bank's BBB rating, an upgrade over the next one to two years is unlikely as that would require an improvement in the bank's financial profile

End arbitrary account-freeze by banks

A longer-term solution is to allow customers to easily vote with their feet

Non-banks not allowed to load credit lines on prepaid wallets, cards: RBI

RBI has asked fintech to stop this practice immediately. The change will come into effect on July 1

Early assessment of banking sector health encouraging: RBI deputy guv

"The asset quality of banks has improved and the gross NPAs and net NPAs of the banks have improved from the pre-pandemic levels," Rao said

Credit card linkage to UPI: Uncertainty over pricing leaves players in dark

There is no clarity on whether linking to UPI facility will be extended to credit cards of other card networks, such as Visa, Mastercard, American Express, etc

Banks to take Rs 37,200-cr hit by liquidating 10 power projects: BofA

Combined capacity is 10.5 Gw; projects fail to find any takers under insolvency process

HDFC Bank sees profits more than doubling to $15 bn in 5 years after merger

CEO Jagdishan tells analysts merger with HDFC gives the lender the opportunity to double balance sheet every five years

HDFC raises interest rate by 5 bps; ICICI Bank raises MCLR by 30 bps

As of December 2021, a little over 39% of banking system loans are linked to the external benchmark, shows RBI data

Union Bank to raise up to Rs 8,100 cr in capital for business expansion

The lender's board approved raising equity capital up to Rs 3,800 crore, within overall limit of Rs 8,100 crore, said the company in filing with BSE

BOI Q4 net profit rises 142.3% to Rs 606 cr on margin improvement

The Mumbai-based BOI's net interest income (NII) expanded by 35.77 per cent to Rs 3,986 crore in Q4FY22 from Rs 2,936 crore in Q4FY21

Tamilnad Mercantile Bank's Q4 net rises 36%, total income increases 9%

Tamilnad Mercantile Bank's Q4 result: The total interest earned increased 6.23 per cent to Rs 3,833.86 crore for FY22 as compared to Rs 3,609.05 crore for the previous year

Axis Bank hikes MCLR by 35 bps across tenors with effect from May 18

Recently, country's largest lender, State Bank of India (SBI), also increased its MCLR by 10 bps. SBI has hiked its MCLR by 20 bps in two months

Canara Bank to invest Rs 1,000 cr for building digital banking backbone

Canara Bank is planning to come up with its super-app next month which is yet to be named.

Bajaj Finance raises interest rates on fixed deposits by up to 10 bps

The revised interest rates by Bajaj Finance will be applicable to fresh deposits as well as renewals of maturing deposits

Central Bank of India yet to take decision on closing 600 branches

The number of branches stood at 4,528 at the end of December 2021

DCB Bank March quarter net profit jumps by 44.87% to Rs 113 crore

Private sector lender DCB Bank on Saturday posted a 44.87 per cent rise in its net profit at Rs 113 crore for the quarter ended March 2022

Kotak Mahindra Bank's consolidated net rises 50% to Rs 3,892 cr in Q4FY22

The lender's net interest income increased 18% YoY to Rs 4,521 crore, aided by a loan growth of 21%