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The RBI’s decision to widen the CRB range to 4.5–7.5% and set it at the upper bound is a nod to global risks
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The total recovery of the bank stood at Rs 4,733 crore for the fourth quarter and Rs 14,336 crore for FY25 while overall slippages ratio was 0.73 per cent during the last financial year.
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The other members will be the Deputy Governor in charge of Payment and Settlement Systems, one RBI official nominated by the Central Board, and the three government nominees.
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RBI board revised Contingent Risk Buffer to 6.0 percent, ± 1.5 percent of balance sheet size, as against the existing level of 6.5 percent, with a lower bound of 5.5 percent.
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IndusInd Bank stayed absent from the primary market after mobilizing heavy funds in March. The lender had ramped up efforts to mobilise certificates of deposit in March to raise more than Rs 16,500 crore through CDs.
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According to the Bloomberg data, the local currency’s biggest gain was seen after November 11, 2022, when it appreciated around 99 paise in a single day.
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The spread between Indian and US 10-year bonds recently fell to its lowest in over two decades, after the yield on US treasuries spiked over fiscal concerns.
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Many things are now digitised and automated, and information is available on a real time basis. Yet, the happenings at IndusInd Bank highlight the need for more scrutiny on the process followed by RBI’s supervision. That it’s happening within five years of the Yes Bank debacle compounds the issue
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March quarter financials take a hit of Rs 4,975 crore, which includes accounting adjustments and reversals on account of derivative instruments as well as rectifying lapses in the bank’s microfinance portfolio. Auditors say incorrect accounting of derivatives started as back as FY16.
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The rupee was under pressure on May 22 due to demand from oil companies and sell-off by foreign investors.
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While IndusInd Bank has said that all known discrepancies have now been accounted for, and auditors have combed through its financials extensively, analysts and the market remain wary.
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A 50 bps CRR cut can free up around Rs 1.20 lakh crore worth of banks’ liquidity which lenders can use for lending or parking in money market instruments, thus accruing recurring returns which gets added to the bottomline.
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On May 2, the Reserve Bank of India’s (RBI) working group has recommended the extending of trading timings for the call money market to 7 PM from the current timing of 5 PM. This, to meet the needs of the banks in real-time payment system.
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Ashok Hinduja said coordinated efforts of current management under the guidance and monitoring of the Board and other stakeholders have ensured that the lender's business remains healthy, with robust capital adequacy.
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According to the Bloomberg data, spread is lowest since July 28, 2004, when it was at 135 bps.
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The cash reserve ratio currently stands at 4% of deposits, which needs to be reported by banks to the Reserve Bank of India on a fortnightly basis. Banks set aside 90% of this requirement daily at present.
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"...whatever Sebi’s remit is, Sebi is doing. It is RBI’s remit but if there are any egregious violations by anyone in its capacity Sebi is looking into it," said Sebi's Tuhin Kanta Pandey.
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AI is transforming India’s financial services sector. Banks must integrate AI strategically, balance innovation with regulation, and adopt responsible AI to enhance productivity, customer experience, and long-term growth
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The struggle for US Dollar continued since Moody’s announced its downgrade of the US credit rating.
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The board found out that a bunch of key personnel perpetrated fraudulent accounting practices
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In the reporting quarter, the bank has let go some corporate accounts for balance sheet management and liquidity management. This has led to fall in corporate loan growth, lender said.
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Mehta said bank will submit the recommendation of chief executive officers (CEO) names to the Reserve Bank of India (RBI) by June 30.
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The company will raise the funds from overseas market through bonds and syndicated loans, Chopra said.
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This is first earnings report by the bank after it uncovered accounting discrepancies, and under scrutiny due to multiple audits and top-level resignations.
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The bank said it has appropriately accounted for and reflected the financial impact of all discrepancies while finalizing its results, and has received investigation reports from an external professional firm and its Internal Audit Department (IAD).
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In an exclusive conversation, R Subramaniakumar, MD & CEO of RBL Bank said the bank’s interest in wealth management stems from its shift towards a customer-centric rather than a product-centric approach.
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Whether microfinance, credit cards, mortgages or other secured loans, Kumar is clear that all segments will continue to remain relevant for the bank and contribute amply to the bottom line.
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TransUnion CIBIL said the credit growth has been significant and the portfolio qualities too have remained stable because of the credit infrastructure, availability of information and objective underwriting. The CIC does not see unsecured delinquency transmitting to secured loans.
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Dollar index eased after the concerns over the US economic and fiscal outlook.
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The board of directors of UGRO Capital on May 20 approved the fund raising of Rs 400 crore through issuance of equity shares by way of rights issue and Rs 914.30 crore via issuance of unsecured compulsorily convertible debentures (CCDs).
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A look at the bank rate actions on deposit rates so far.
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The management’s guidance on margins for FY26 is modest
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The financial terms of the transaction have not been disclosed yet
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The funds will be raised through a public offer or a private placement of senior unsecured notes in US Dollar or any other major foreign currency, or both, said SBI.
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The Insurance Amendment Bill is expected to simplify the capital structures of companies by proposing key reforms including composite licenses and increasing the foreign direct investment (FDI) cap.
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After the first rate cut, banks enjoyed 10 -33 bps increase in treasury income due to the arbitrage in TREPS market, while after the second rate cut, the arbitrage shrunk a bit to 10-18 bps.
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Currently, Emirates NBD Bank PJSC is carrying on banking business in India in branch mode through its branches located in Chennai, Gurugram and Mumbai.
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Under the new draft norms, the RBI has proposed that a single regulated entity (RE) contribution to any AIF scheme shall be capped at 10 percent of its corpus. Collectively, a ceiling of 15 percent shall apply for investment by all REs in an AIF scheme.
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In December 2023, the RBI had barred REs, including banks and non-banking finance companies (NBFCs), from investing in alternate investment funds (AIFs) that have investments in existing and recent borrowers
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The revised rates came into effect from May 16
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SEBI examining the timing of trades by these six officials to ascertain whether the sales violated regulations, the report said
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For the full year FY25, the company achieved a 46.3 percent increase in individual new business premium, which stood at Rs 1,372 crore, compared to Rs 938 crore in FY24
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The bank will offer a specialised current account product with no quarterly average balance requirement, making it easier for startups to manage their finances
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According to the RBI’s draft guidelines, lenders have to include appropriate single borrower limits and sectoral limits for loan portfolio against gold collateral, mechanisms to ensure end-use of loans, LTV ratio, valuation standards, and standards of gold purity.
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If not for the 11% drop in vegetable prices, inflation would hover closer to 4.1%. The RBI will have this in mind when it meets in early June
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On May 16, Moody's Ratings stripped the U.S. government of its top credit rating Friday, citing successive governments' failure to stop a rising tide of debt.
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For India, it’s a bold assertion of strategic red lines. For Turkey, it’s a costly misstep
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According to sources, the regulator is in conversation with the forensic auditor, Grant Thornton, on this matter and is evaluating whether lapses identified in treasury operations should be classified as case of fraud.
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Local bond yields trending lower is a disincentive for foreign investors as it narrows the spread between Indian and home market bonds, and usually leads to outflows
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The banks' auditors too will also need to do a lot of explaining, said Abizer Diwanji, on how the internal controls failed to spot the 'unsubstantiated balances' in its other assets account.
