Page 9 - Indian Banks

Banks concerned as trade settlements with Russia stall in face of sanctions

The extent of the payments that are stalled is not clear at the moment and RBI is trying to assess it

DBS Bank India migrates to new IFSC and MICR codes of erstwhile LVB

Following the amalgamation with DBIL, the IFSC & MICR codes of all branches of erstwhile LVB have changed. While the new codes have been active since October 25, 2021, the older IFSC codes will remain valid until February 28, 2022, to ensure customers' convenience and ease of transition. Customers will be required to use the new DBS IFSC code from March 1, 2022, onwards to receive funds through NEFT/RTGS/IMPS.The change was communicated to customers through physical letters, emails, and SMS as well as at the branches. They were requested to share the new IFSC code with business partners, associates and vendors to update their records, recurring payments and receivables well in time. All existing cheques issued to the third party will have to be replaced with new cheques before February 28, 2022. Any cheque with old MICR codes presented after the aforementioned date will not be honoured.New cheque books (with new MICR code) have been available since 1st November 2021. Customers ..

Banks boost tech spend as super app space gains momentum in India

ICICI, Axis Bank now spend 8-9% of total operating expenses on technology

CSB Bank gets RBI nod to appoint Pralay Mondal as Deputy Managing Director

His prior appointment in the bank since September 23, 2020 was as President

Buyer shouldn't pay for bank's mistake

Despite the State Commission having concluded that there was deficiency in service on the part of the bank, it had not been held liable

Hard lessons for banks and FIs from a decade of bad infrastructure loans

Loans to the sector became huge NPAs largely due to the practice by lenders of offering unconditional mobilisation advance and time gap between preparation of a DPR and awarding the bid

Cooperative forum set up by RBI board member weighs in for PMC depositors

Sahar Bharati requests finance minister's intervention for a better deal

Bank stocks broadly positive during Basel norms implementation: RBI paper

Banking stocks have broadly reacted positively to the strict capital norms under the Basel regulations put in place for domestic banks over an 18-year period, starting October 1998, RBI paper showed

Banks see uptick in credit growth; asset quality likely to improve

"An increase in bond yields would impact treasury performance," Motilal Oswal Securities said.

India digital loan apps blamed for mafia-like collection tactics, suicides

Panel set up by the RBI finds more than half of about 1,100 digital loan providers operate illegally.

HDFC Bank's loan book grows by 16.4% to Rs 12.6 trn in December quarter

HDFC Bank's retail loans grew by around 13.5 per cent yoy and 4.5 per cent over September 2021 based on its internal business classification.

Three small, mid-sized banks post 4.9-12% credit growth in Dec quarter

Commercial banks in India as a group posted 7.3 per cent (Y-o-Y) growth till the middle of December 2021, according to Reserve Bank of India (RBI) data.

With ATM withdrawals set to get costlier, reduce dependence on cash

Beware of keypad manipulation and heat mapping while using the ATM or PoS machine

Asset quality set to worsen, but banks resilient enough: RBI report

The GNPA ratio of PSBs, which was 8.8 per cent in September this year, may deteriorate to 10.5 per cent by September 2022 under the baseline scenario

Bank NPAs ease to nearly six-year low: RBI Trends & Progress report

Credit growth showing signs of recovery, says RBI report

Indian bankers collect bumper fees from record $18 billion in IPOs

A little over 110 firms ranging from online grocers to food delivery and beauty startups listed their shares in Mumbai this year, raising almost $18 billion, according to data compiled by Bloomberg

RBI says RBL Bank well capitalised with satisfactory financial position

The stock of the bank closed 18.32 per cent down to close at Rs 140.90 a piece on the BSE

Banks raise over Rs 37,000 cr via AT1 bonds amid capital ratio concern

Call options for instruments raised last year and worth Rs 28,430 crore are due in the next financial year.

MPAI, ADIF write to RBI for an extension of tokenisation deadline

MPAI and ADIF have in their letter highlighted several operational challenges that will hinder the transition to the token-based payments ecosystem

Fintech leading India's banking revolution but it's hampered by old rules

The country's licensing policy for financial institutions is past its sell-by date. Innovative solutions are out there but require regulation.