Page 5 - Indian Banks

Chief labour commissioner to meet bank unions on proposed Nov 10 strike

Banks notices say normal services could get affected but they are taking action to keep work going

Credit risk not being fairly priced in by banks, says SBI report

Credit demand at decadal highs and liquidity remains significantly downsized, says research

Banks' loans rise 17.9% YoY in two weeks to Oct 21, deposits up 9.5%: RBI

Bank deposits fell Rs 601.16 billion to Rs 172.04 trillion rupees in the two weeks to Oct 21

Multiples Private Equity likely to sell stake in APAC Financial Services

Multiples Alternate Asset had acquired the stake for Rs 250 crore in 2018

Banks' reliance on deposits increases amid strong credit growth

Banks have raised over 3.51 trillion Indian rupees($42.41 billion) through certificate of deposits (CDs)in April-October, 22% higher than the 2.87 trillion rupees raised in 2021-2022

Maharashtra appoints liquidator to wind up Rupee Cooperative Bank

Over 200 employees risk losing their jobs

Bank of India launches special deposit scheme; raises interest on others

Apart from the special deposit scheme, Bank of India has raised interest rate on its existing 555-days fixed deposit scheme to 6.30 per cent

RBI starts pilot of its digital currency, allows 9 banks to use it

The e-rupee is set to be test launched within a month for retail use in select locations and users, the Reserve Bank of India had said in a statement Monday

RBI steps up fund infusion as system liquidity 'almost neutral'

Rates on CPs, CDs surge; pressure mounts on banks to raise deposits

Climate risks: Headwinds for banking

"Climate action failure" still features among the foremost long-term threats, and its severity is increasing

Banks' loans rose 17.9% in two weeks to Oct 7, deposit up 9.6%: RBI data

Indian banks' loans rose 17.9% in the two weeks to Oct. 7 from a year earlier, while deposits rose 9.6%, the Reserve Bank of India's weekly statistical supplement showed on Friday

India pushing for valuation of $7.7 billion for state-owned IDBI Bank

India is pushing for a valuation of around 640 billion rupees ($7.7 billion) for state-owned IDBI Bank Ltd. in what could be the biggest sale of the government's stake in a lender in decades

Dhanlaxmi Bank's shareholders seek to curb CEO's spending powers

The shareholders seek to suspend powers exercised by CEO Shivan JK in respect of all capital and revenue expenditure, except statutory payments such as salaries and wages

Top headlines: Axis Bank Q2 net jumps 70%; Bajaj Finance Q2 net surges 88%

Business Standard brings you top news of the evening

South Indian Bank posts profit in Q2 at Rs 223 cr; asset quality improves

South Indian Bank (SIB) on Thursday reported a net profit of Rs 223.10 crore for the quarter ended September 2022 as provisions for bad loans came down significantly. The lender had posted a net loss of Rs 187.06 crore in the same quarter a year ago. Total income during July-September 2022-23 was up 10.6 per cent at Rs 1,995.24 crore as against Rs 1,803.76 crore in the same quarter a year ago, SIB said in a regulatory filing. The interest income grew to Rs 1,740.14 crore from Rs 1,646.59 crore. Asset quality of the lender improved as gross non-performing assets (NPAs) fell to 5.67 per cent of gross advances as of end-September 2022 from 6.65 per cent by end of September 2021. In value terms, gross NPAs stood at Rs 3,856.13 crore as against Rs 3,879.60 crore. Net NPAs (bad loans) were trimmed to 2.51 per cent (Rs 1,647.13 crore) as against 3.85 per cent (Rs 2,178.49 crore). Provisions for bad loans and contingencies fell down by more than 57 per cent to Rs 179.29 crore during th

AU Small Finance Bank's net profit rises 23% to Rs 343 crore in Q2

AU Small Finance Bank (SFB) on Wednesday reported a 23 per cent rise in its net profit at Rs 343 crore in the July-September quarter on healthy growth in loan disbursals aided by consistent fall in bad loans. The Jaipur-based lender had posted a net profit of Rs 279 crore in the same period in the year ago fiscal year. Bank's net interest income (interest earned minus expended) grew by 44 per cent to Rs 1,083 crore during July-September period of 2022-23, as against Rs 753 crore in same period of 2021-22, AU SFB said in a regulatory filing. Total income of the bank was up by 40.3 per cent at Rs 2,240 crore as against Rs 1,597 crore. Gross advances of the lender rose to Rs 52,452 crore as of Q2FY23 as against Rs 36,405 crore during the same period a year ago, with auto, MSME and home loans accounting for 75 per cent of the component. Disbursements during the quarter stood at Rs 8,605 crore as against Rs 5,061 crore. "The operating environment in Q2FY23 saw uncertainty over inflati

SBI cuts savings deposit rate by 5bps to 2.7%;BoB raises FCNR deposit rates

State Bank of India (SBI) has reduced the interest rate on savings accounts by a marginal 5 basis points to 2.70 per cent effective from October 15. The new saving rates are applicable on balances of less than Rs 10 crore, on which the bank earlier offered 2.75 per cent per annum interest. The lowering of rates on savings accounts by SBI comes at a time when the peer lenders have been raising deposit rates to mobilise funds. However, on saving account balances of Rs 10 crore and above, SBI has increased the deposit rates to 3 per cent per annum from 2.75 per cent earlier. Bank of Baroda on the other hand hiked the interest rates on foreign currency non-resident (FCNR) deposits across various currencies and maturity periods by up to 135 basis points. The new deposit rates came to effect from October 16, 2022 and will remain in force till November 15, 2022, Bank of Baroda said in a release on Monday. The revised rates are applicable on fresh and existing FCNR deposits which are ren

Bandhan Bank plans to hike exposure of secured loans to 70% by 2025

Currently, 39 per cent of the asset book is secured

SBI home loan book crosses Rs 6 trn-mark; launches festival discounts

The nation's largest lender State Bank on Wednesday said its home loan book has surpassed the Rs 6-lakh-crore-mark, making it the largest in the industry. To mark the occasion, the bank also announced a festive offer for home loan buyers, offering up to 25 bps discount on interest rate starting at 8.40 per cent and also the waiver of the processing fee till January 31, 2023. The lower interest will also be applicable to balance transfers. The bank had crossed the Rs 5 lakh crore mark in January 2021, the bank said in a statement, adding it is the first lender to achieve the Rs 6 lakh crore milestone in the residential home category. As a part of the festive offer, SBI will offer a concession of up to 0.25 per cent on home loans, 0.15 per cent on top-up loans, and 0.30 per cent on loans against property, the bank said, adding the offer also includes waiving off the processing fees up to January 31, 2023. Commenting on the milestone, its chairman Dinesh Khara said SBI has over 28 lak

RBI pulls up banks on exposures' ratings without lenders' names

The Reserve Bank of India (RBI) on Monday said that a bank loan rating by rating agencies not having lenders' names won't be considered for capital computation by banks