RETAIL BANKING

U.S. retail sales dipped less than forecasted 0.3 percent in June, led by auto (2.3 percent) and gas (3.0 percent) drops, totaling $704.3 billion. The Federal Reserve may cut rates in September as the economy cools. Core sales rose 0.8 percent. Econ...

Moody's Ratings affirmed HDFC Bank Limited's Baa3 long-term deposit ratings and baa3 Baseline Credit Assessment, maintaining a stable outlook due to India's favorable operating environment. The bank's diversified loan portfolio and profitability sup...

Axis Bank faced glitches after migrating Citibank customers to its systems, with many unable to access accounts or log into the Axis app. Axis acknowledged "teething issues" and increased call center staff to address them. Despite problems, 97% of u...

State Bank of India (SBI) has introduced a new 444-day deposit scheme with 7.25% interest, 15 basis points higher than the prevailing rate. The bank's higher rate comes after raising the benchmark marginal cost of fund-based lending rate by 5 to 10 ...

Goldman Sachs has named Sudarshan Ramakrishnan and Devarajan Nambakam as co-heads of its investment banking business in India. Sunil Khaitan has also joined as managing director. Ramakrishnan and Nambakam will drive growth strategy, reporting to Son...

SBI, India's largest lender, has raised the MCLR by 5-10 basis points for tenures from one month to three years, effective July 15. Updated rates on SBI's website range from 8.35% for one month to 9% for three years, including 8.40% for three months...

Paytm parent One 97 Communications has reported that domestic investors and mutual funds have upped their holding in the company, in the first quarter of FY25. Retail investors grew their stake by 1.3% in the quarter, while mutual funds upped their ...

Chandra Shekhar Ghosh, founder of Bandhan Bank, transitioned from CEO to a strategic role after starting as an NGO and growing it into India's largest microfinance institution turned universal bank. Overcoming his humble beginnings, Ghosh's journey ...

MD & CEO of Bandhan Bank Chandra Shekhar Ghosh said "When we started as a universal bank, we were committed to provide banking solutions to address the needs of all the customers. The trade products are in line with that vision".

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...

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...

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.

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...

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...

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...

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 ...

​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...

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 ...

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...