The RBI had on August 6 allowed banks to conduct a one-time restructuring of loans without classifying them as non-performing assets
ICICI Bank is planning to raise around Rs 15,000 crore through this issue
The State Bank of India interview will be conducted online on August 18 or 19 and those under consideration besides Rajnish Kumar include the bank’s three managing directors.
While provisioning of about 20 percent is in compliance with regulations, banks might want to raise provisions during the COVID-19 pandemic
RBI Monetary Policy LIVE Updates: The Reserve Bank of India’s Monetary Policy Committee (MPC) has kept the repo rate unchanged at 4% amidst COVID-19
Aditya Puri retires as HDFC Bank's Managing Director on October 26, 2020. Sashidhar Jagdishan has been appointed as his successor.
The shift towards FDs could mean that depositors think interest rates will increase, and it may also hint at risk-aversion
In the latest financial stability report, the RBI had warned that moratorium loans could lead to higher NPAs in the financial system.
In most cities, banks will remain closed on August 1 and August 15 on account of Eid-Ul-Adha and Independence Day, respectively.
The RBI's conscious steps to reduce the repo rate have also lowered the marginal cost of fund-based lending rate across banks, ratings agency India Ratings and Research said in a note.
As per the latest Financial Stability Report (FSR) released by the Reserve Bank, gross non-performing assets of all banks may jump to 12.5 percent by the end of this fiscal under the baseline scenario, from 8.5 percent in March 2020.
The RBI stated that the total number of frauds reported by Scheduled commercial banks and select FIs during Financial Year 2019-20 is 84,545 and the amount involved therein is Rs 1,85,772.42 crore.
Fitch said state banks already face significant execution risks in raising equity due to depressed stock market valuations and weak investor interest.
Unless banks are given the freedom to decide on business decisions, banking sector NPAs can’t be addressed. In a highly competitive industry, PSBs need to be given a level playing field.
Lenders fear a surge in bad loans once the RBI’s six-month loan moratorium period ends in August, despite a declining trend in loans under moratorium.
The context here is the annual awards given by financial media houses to banks. The recipients, sometimes, include even those banks who have been fined by the RBI and other regulators, sometimes more than once, for rule violations.
Yes Bank was near bankrupt in March and was rescued by a Reserve Bank-led bailout plan under which SBI picked up 49 percent equity in the once-storied private sector lender.
Many media reports have suggested that HDFC Bank was looking into allegations of misconduct in its vehicle financing business.
The first part of the plan would be to sell majority stakes in Bank of India, Central Bank of India, Indian Overseas Bank, UCO Bank, Bank of Maharashtra and Punjab & Sind Bank, leading to an effective privatisation of these state-owned lenders, a government official said.
He said the social outreach initiatives have made Odisha a model state in the country in terms of financial inclusion of all sections of the society.
In its 2019-20 annual report, the bank said it is expecting the various technological initiatives for customer convenience to yield "good results" in coming months.
Member banks are working on digitisation of loan products so that the human intervention is minimised in the process of loan, he said.
Moneycontrol's Shraddha Sharma explains how the pandemic is accelerating digitalisation in the banking sector.
A look at the latest data of large banks shows a spike in number of fraud cases and the money involved over the previous year. Subsequently,there is a corresponding rise in provisions made.
Out of Rs 1,23,432 crore written off by SBI during from FY13 to FY20, the bank recovered only Rs 8,969 crore.