Page 2 - Indian Banks

Gautam Adani in crisis as bonds hits distressed levels, stock sale axed

Banks either want more collateral for loans, or are scrutinizing the value of the company's debt to lend against

Markets 'overpricing' banks' risk from Adani exposure: Societe Generale

India's banking sector has been one of the hardest hit by the collateral damage from the sharp correction in the Adani group stocks over the past week post the Hindenburg report: SocGen

Bank credit growth rises to 16.5% to Rs 132.81 trillion in Jan 13 fortnight

Deposit growth has gathered pace to 10.6%

Indian banks' switch to IFRS norms unlikely to drive rating changes: Fitch

The RBI introduced a discussion paper last week that suggested banks make provisions for bad loans using the expected credit loss (ECL) method

AU Small Finance Bank net jumps 30% to Rs 393 cr on healthy core income

Of the total provision, Rs 127 crore are for the restructured book and Rs 98 crore are for contingency provisions and Rs 41 crore are floating provision

Asset quality of Indian banks will be stable in 2023, says Moody's

The asset quality of Indian banks and those in Southeast Asian countries will be stable in 2023, said Moody's Investors Service in its latest report on the banking sector in emerging markets

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

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

Govt extends tenure of Bank of Baroda MD Sanjiv Chadha by 5 months

The government has extended the tenure of managing director (MD) and CEO of Bank of Baroda (BoB) Sanjiv Chadha for about five months till June 30. The order dated January 14, 2023 comes ahead of his three-year tenure that ends on January 19. The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services for extending the term of Chadha till June 30, 2023, when he attains 60 years, the retirement age, sources said. Meanwhile, the Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned banks and financial institutions, on Saturday recommended elevation of Executive Director (ED) Debadatta Chand as managing director of Bank of Baroda. Besides, the Bureau recommended Union Bank of India ED Rajneesh Karnatak for the position of MD & CEO in Bank of India. The final decision on the FSIB recommendation would be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi. Th

Indian banks gave highest returns in Asia Pacific region: S&P Global report

According to the report, the Punjab & Sind Bank had posted a returns of 118 per cent while the Jammu and Kashmir Bank gave 104.69 per cent

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

How financial reforms can quicken pace for India to become a $5-trn economy

In the Union Budget for FY22, no funds were earmarked for recapitalising state-run banks. This was a decadal first, and will temper their eagerness to lend

Expect bold changes in the year 2023

India is making rapid strides in the area of digital banking, meeting the expectations of a digitally agile customer base in the information age

Ajay Kumar Srivastava becomes new MD and CEO of Indian Overseas Bank

After successful completion of about 27 years in Allahabad Bank he was elevated as Executive Director of IOB in October 2017

Plan to open more branches across country, says TMB CEO S Krishnan

Private sector Tamilnad Mercantile Bank Ltd (TMB) has drawn up plans to strengthen itself by opening up additional branches across the country in the near future, said a top official of the bank on Friday. The over-a-century old bank recently inaugurated its 510 and 511th branches here and in Salem respectively. "Upon being listed on the stock exchanges, Tamilnad Mercantile Bank Ltd is back to enrich our vision in expanding the network pan-India. The bank has opened its 510th and 511th new branches in Tamil Nadu. We have plans to also open many more in the near future...," said managing director and CEO of the bank S Krishnan in a statement. The Tamil Nadu-based bank currently has presence across 16 States and four Union Territories and serves over 5 million customers.

Banks using quality liquid assets to fund loan growth: RBI report

Credit growth in the system has touched a decade high, a level seen last in 2011

Urban Co-op Bank profiles improve on bad loan dip, better profitability

However, growth in deposits and advances took a knock as liabilities shrank on the back of high base in 2020-21, shows RBI Report on Trend and Progress of Banking in India

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

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

Banks may need to lift deposit rates as credit demand surges: RBI report

The Reserve Bank of India has raised rates aggressively this year to tame inflation. While banks have swiftly transmitted the hikes to their lending rates, deposit rates have been laggards for most

Banks' GNPAs fall 5% in Sept, but current situation can impact health: RBI

Indian banks' gross non-performing assets declined to 5.8 per cent, but the present macroeconomic environment can impact lenders' health, the Reserve Bank said on Tuesday. The GNPAs, which touched a peak in FY18 following the asset quality review, have been declining sequentially to reach 5 per cent in September, the RBI said in the 'Trends and Progress of Banking in India' report for FY22 released on Tuesday. The number stood at 5.8 per cent in March 2022, according to the report which also had a strong commitment by the RBI to be not complacent, given the present environment. "Although presently the Indian banking sector remains robust and resilient with improved asset quality and strong capital buffers, the policymakers remain mindful of dynamically evolving macroeconomic conditions that may impinge on the health of regulated entities," the report said. The decrease in the GNPAs was attributed to lower slippages and also a reduction in outstanding GNPAs through recoveries, ...