BUSINESS
Rs 2,000 note withdrawal: Banks see majority notes from businesses
The Reserve Bank of India said on August 1 that Rs 2,000 banknotes worth Rs 3.14 lakh crore, or 88 percent in circulation, have returned to the banking system, as on July 31.
BUSINESS
Suryoday SFB aims to ramp up commercial vehicle loans, double portfolio size over next few quarters: MD and CEO
Currently, the bank has a commercial loan portfolio of Rs 50 crore; it is looking to partner fintechs and NBFCs for growth and to improve asset quality.
BUSINESS
RBI's I-CRR will not cause any liquidity shortage for banks, say bankers
Governor Das highlighted that the central bank considered the imposition of I-CRR desirable in the interest of financial and price stability and that banks would have enough liquidity to do their lending operations
BUSINESS
LIC Q1 Results: Net profit rises multi-fold on higher income on investments
LIC's gross non-performing asset (GNPA) as of June 30 stood at 2.48 percent as against 5.84 percent last year, while its net NPA was nil, same as last year
BUSINESS
RBI MPC: Deputy governor asks banks to 'redouble' efforts on loan recovery
A Moneycontrol assessment of the banks investor presentation in the April-June FY 24 quarter showed that banks wrote off Rs 34,428 crore compared to Rs 44,898 crore.
BUSINESS
Banks to assess interest on floating rates, says Governor Das
This comes after the central bank proposed to introduce a framework for the reset of interest rates on floating interest loans.
BUSINESS
RBI to develop, test tech platform for 'friction-less' credit delivery
The idea of a platform is based on the learnings from the digital Kisan Credit Card pilot, Shaktikanta Das has said
BUSINESS
RBI may use AI in conversational payments on UPI
Das said this measure is proposed with the objective to harvest new technology enhancements for users.
BUSINESS
Banks to maintain 10% incremental CRR from August 12, says RBI governor
The central bank on August 10 kept the repo rate unchanged at 6.5 percent
BUSINESS
RBI Policy: MPC may leave repo rate unchanged yet again, say bankers
The central bank has raised the repo rate by 250 basis points since May 2022. For the fiscal year 2023-24 (FY24), the central bank has projected consumer price index (CPI) inflation at 5.1 percent
BUSINESS
LIC Housing Finance open to partner with SFBs to step up home loan business, says MD and CEO
The mortgage lender will target to compete with HDFC Bank’s home loan portfolio. The lender is also undergoing a structural overhaul and expansion with 44 new cluster offices.
BUSINESS
Indian banks write-off Rs 34,428 crore in Q1 FY24
PSU bank account for 80 percent of the total write-off in the reporting quarter, with private banks accounting for the remaining.
BUSINESS
Don’t see any stress in SBI’s corporate loan book: Chairman Dinesh Khara
On lending to aviation, Khara said that the bank is choosy in lending to airlines. The lender recorded a 28 percent year-on-year (YoY) growth in lending to aviation
BUSINESS
SBI targeting 15% credit growth this fiscal, says Dinesh Khara
The SBI chairman said the bank has a corporate sector lending plan to lend Rs 3.5 lakh crore of which Rs 1 lakh crore was lent in the April-June quarter
BUSINESS
SBI’s YONO marred by issues and customer complaints
The country’s largest bank had in July 2023 launched a revamped version of You Only Need One (YONO) which introduced new features and improved the existing technical issues.
BUSINESS
We are looking at 25% growth in advances this fiscal year: Equitas SFB's P Vasudevan
The Equitas Small Finance Bank CEO and MD said the bank will apply for a universal licence soon now that its reverse merger with Equitas Holdings has been completed.
BUSINESS
Banks step up lending to aviation; sector seen safe in long term, experts say
Outstanding credit to the aviation sector rose 41 percent on May 19 from a year earlier, according to data from the central bank.
BUSINESS
Interview | Federal Bank’s unsecured retail segments working well: MD
Shyam Srinivasan said the unsecured business, which stands at 3 to 4 percent, may become 10 percent of its business in the next few years.
BUSINESS
Interview| Digital lending to be the next big thing in microfinance: Arohan Finance MD
The NBFC-MFI currently has Rs 50 crore of AUM under its digital lending pilot, and plans to have an AUM of around Rs 2,000 crore in the next two to three years.
BUSINESS
Axis Bank sees 34.8% attrition rate in FY23, higher than FY22 and FY21
CEO Amitabh Chaudhry said attrition was an industry-wise issue and the bank is making constant efforts to check it
BUSINESS
Easing load of bad debt, rising income from interest boost bank earnings
Most banks have also seen a sharp rise in retail loans. The rise was between 12-50 percent across banks. The lenders reported 30-100 percent growth in net profit, which is almost in line with the estimates of brokerage firms
BUSINESS
Interview | IDBI Bank to invest Rs 700 crore in digital lending business this fiscal, says MD and CEO
The bank is looking at recovering Rs 4,000 crore of bad loans in FY24, says Rakesh Sharma, MD and CEO.
BUSINESS
MC Interview: RBL Bank’s MSME lending platform to go live by end-Q2FY24, says CEO R Subramaniakumar
RBL bank is looking at a deposit growth of 18-20 percent in FY24 and is confident of improving the asset quality further, the CEO said
BUSINESS
ICICI Bank ready to move to ECL framework, waiting for RBI guidelines, says executive director
The Reserve Bank of India on January 16 proposed a framework for adoption of an expected loss-based approach for provisioning by banks
