NEW BANKS

RBI met CFOs and auditors to enforce zero tolerance for compliance lapses. Deputy governors stressed accurate balance sheets, aggressive lending risks, and ever-greening of loans. Recent CEO talks included credit-deposit growth gaps. Governor Das em...

Paytm Payments Bank faces audit qualification disputes over viability, seeking RBI intervention. Compliance issues led to operational restrictions, prompting directions to transfer businesses. KYC guideline non-compliance has halted income generatio...

Ghosh, who will retire from the bank on July 9 as managing director, will oversee Bandhan's insurance and mutual fund ventures, besides the bank's activity, two people familiar with the matter said.

The bank plans to more than double its BC network during the current fiscal, Punjab & Sind Bank Managing Director Swarup Kumar Saha said, adding, that the bank is trying to expand this network to 4,000 by the end of the current financial year agains...

Bandhan Bank is facing a leadership change as CEO Chandra Shekhar Ghosh steps down without a successor in place. The board is considering options for an interim head to manage daily operations during this transition period.

The government is examining a proposal to increase the tax-deductible amount on savings account interest to Rs 25,000. Current limits are Rs 10,000 (Section 80TTA), Rs 50,000 for seniors (Section 80TTB), under the old tax regime. Banks have been adv...

RBI’s financial stability report warns of climate change risks despite declining loan defaults. Concerns exist over exposure to energy and construction sectors. A 2023 framework mandates climate strategies by March 2028. Regulatory delays persist, w...

Public sector banks in India are navigating the credit card market, facing challenges with high NPAs. The focus on tier-II and tier-III cities is driving credit card sales, with State Bank of India and Bank of Baroda leading in card spending through...

HDFC Bank announces temporary unavailability of UPI systems on Saturday, July 13, 2024, from 3:00 am to 3:45 am and 9:30 am to 12:45 am for migrating its Core Banking System to a new platform. The move aims to enhance customer experience by improvin...

Banks intensify scrutiny on new accounts to combat mule activities, adapting to evolving fraud tactics like forming private companies. Vigilant measures include verification visits, latitude data, and washout logic analysis to deter money laundering...

Challa Sreenivasulu Setty's upcoming role as the chairman of State Bank of India follows a period of remarkable growth under Chairman Khara's leadership, marked by a substantial increase in the bank's stock price and improved asset quality.

Apart from continuously checking network activities and server logs to detect malicious intrusions, banks will have to monitor critical payment systems such as SWIFT (the messaging system to confirm cross-border fund transfers), card network (which ...

The merger of Regional Rural Banks with Sponsor Banks, as demanded by bank unions, aims to enhance efficiency, viability, and sustainability in the banking sector. This strategic move will not only improve employee skills and governance but also mob...

Asked about the monetisation of subsidiaries, Khara said that SBI would wait for them to further scale up their operations before listing them. Scaling up their operation will increase valuation and ensure better returns for the parent SBI.

​​The study evaluates efficiency by examining how effectively banks utilise their resources to produce output at an optimal scale.

State-run banks are optimistic about a more lucrative performance-linked incentive (PLI) for employees and are advocating for a five-day banking week as a new coalition government takes charge. Bank unions and employee associations seek a review of ...

Raghavan previously served as JPMorgan's CEO in the Europe, Middle East and Africa (EMEA) region, while also leading its investment and corporate banking and treasury services in the region. After joining JPMorgan in 2000, he held senior roles in de...

PNB and IIFCL signed an agreement to offer financial assistance for infrastructure projects, aiming for consortium lending. The MoU signing involved Atul Kumar Goel and Padmanabhan Raja Jaishankar.

Indian Overseas Bank is set to establish 88 new branches across India in FY24. The bank recently opned a new branch in Nagapattinam and its 126th ATM in Puducherry. Managing Director and CEO Ajay Kumar Srivastava said that the bank's expansion strat...