RETAIL BANKING
Chandra Shekhar Ghosh likely to be Bandhan Group's executive head 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.
07 Jul, 2024, 10.46 PM ISTBoB loan book grows 8% in Q1; IndusInd's net advances up 16% The bank's CASA ratio fell to 36.7% at the end of June 2024 from 39.9% a year ago, disclosures made by the bank showed. Retail deposits and deposits from small business customers amounted to ₹1.74 lakh crore as of June 2024, up from ₹1.69 lakh crore...
06 Jul, 2024, 01.00 AM ISTHDFC Bank gross advances jump 52.6% on-year in Q1 to Rs 24.8 lakh crore HDFC Bank's gross advances increased by 52.6% year-on-year to ₹24.87 lakh crore in the quarter ending June 30, driven by its merger with HDFC Limited last July. Excluding the merger impact, advances grew by 14.9% from June 30, 2023, reaching ₹25.08 ...
05 Jul, 2024, 12.26 AM IST- ADVERTISEMENT
Bandhan Bank shows strong growth in deposits and Advances for June Bandhan Bank reported significant growth with loans & advances reaching Rs 1,25,619 crore in June 2024, a 21.8 per cent year-on-year increase from June 2023's Rs 1,03,169 crore. Total deposits grew 22.8 per cent to Rs 1,33,203 crore, up from Rs 1,08...
04 Jul, 2024, 09.24 PM ISTRBI tells banks to find ways to bridge the gap between credit and deposit growth The meeting addressed various banking challenges including credit-deposit ratio, cybersecurity, and digital frauds. Governor Das emphasized the need for robust cybersecurity controls and customer awareness initiatives to curb digital frauds.
03 Jul, 2024, 08.43 PM ISTPSBs on the margins in credit cards, but NPAs ahead by a wide margin 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...
02 Jul, 2024, 12.48 AM ISTRBI, ASEAN countries to create instant cross-border retail payments platform The Reserve Bank of India and ASEAN nations are collaborating on "Project Nexus," aimed at establishing a platform for instant cross-border retail payments by linking fast payment systems. India joins Malaysia, Philippines, Singapore, and Thailand a...
01 Jul, 2024, 04.42 PM ISTFor people's man Challa Sreenivasulu Setty, the challenge is to take high-flying SBI to newer heights 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.
01 Jul, 2024, 12.30 AM ISTIndia Ratings pegs bank credit growth at 15.4% for FY25 India Ratings has forecasted a 15.4% loan growth for banks in FY25. The rating agency believes a turnaround in private capital expenditure could alleviate any pressure on overall credit growth during the fiscal year.
29 Jun, 2024, 10.10 AM ISTRetail loans moderate for the 10th straight month The Reserve Bank of India reported that bank lending to the retail sector moderated for the tenth consecutive month in May, reaching 17.8% from 19.1% a year ago. Corporate loans grew faster at 8.9% compared to 6% in May 2023. Non-food bank credit sa...
28 Jun, 2024, 07.46 PM ISTRBI cautions against surge in private credit between corporates and non-banks The Reserve Bank of India (RBI) warns of systemic risks from the rapid growth of private credit, which has quadrupled in the past decade, especially due to its opacity and interconnectedness with banks and non-banks. The RBI highlights potential vul...
27 Jun, 2024, 05.35 PM ISTYes Bank restructures workforce, lays off 500 employees in cost-cutting move While the layoffs have happened across several verticals ranging from wholesale to retail, the branch banking segment saw a large impact, one person cited above said. The people sacked have been given severance pay amounting to three months’ salary....
25 Jun, 2024, 10.51 PM ISTPNB plans to expand its overseas footprint, to open representative office in Dubai State-owned Punjab National Bank is set to establish a representative office in Dubai, expanding its global presence. With board approval secured, regulatory clearance is underway. The bank aims to enhance profitability by focusing on various portfo...
09 Jun, 2024, 12.41 PM ISTRBI sees moderation in unsecured retail loans, tells banks to maintain prudent asset-liability balance The Reserve Bank of India (RBI) noted a moderation in unsecured retail loans and advances following concerns raised in November 2023. Governor Shaktikanta Das highlighted that growth in personal loans and NBFC funding reliance has slowed. The RBI co...
07 Jun, 2024, 11.06 AM ISTNow, a 'Bank Clinic' to guide you on complaints The Bank Clinic is an initiative by the All India Bank Employees' Association (AIBEA) to help customers address their grievances amid rapid expansion in technology and a series of Reserve Bank of India (RBI) guidelines on retail banking. A customer ...
03 Jun, 2024, 12.14 AM ISTCredit growth slows in April across major sectors Bank credit growth is expected to moderate 200 basis points (one bps is 0.01 percent) to 14% this fiscal after an estimated robust growth of 16% in fiscal 2024, according to ratings firm Crisil. Strong economic activity and retail credit demand dro...
31 May, 2024, 06.50 PM ISTLarge Indian banks are expected to improve their asset quality in the current fiscal: S&P India's top banks are set for asset quality improvement in the fiscal year, driven by record profits, which will enhance their balance sheets and underwriting standards. Despite a rise in HDFC Bank's nonperforming loans post-merger, all major banks ...
29 May, 2024, 04.26 PM ISTRBI Guv Shaktikanta Das launches PRAVAAH, Retail Direct mobile app and FinTech Repository The Reserve Bank of India (RBI) has launched three major initiatives to enhance regulatory processes, facilitate retail investment, and provide comprehensive data on the fintech sector. The PRAVAAH portal is a secure web-based platform for individua...
28 May, 2024, 07.28 PM ISTBank credit growth rate expected to moderate: Crisil The central bank increased the risk capital requirements for unsecured loans to NBFCs to 125% in November last year from 100% prompting banks to realign their strategies and strengthen their underwriting process.
28 May, 2024, 07.09 PM ISTBanks' underwriting standards at risk amid rapid consumer loan growth, Fitch says Fitch Ratings warns of potential challenges to Indian banks' consumer loan quality due to rapid growth and "untested risks." Concerns include lower transparency in retail underwriting data and reliance on unsecured credit for margin expansion. While...
13 May, 2024, 12.14 PM IST