Banking System

The government plans to retain a minimum shareholding of 51% in state-run banks, according to the first source. At present, the government has much higher ownership in all 12 banks.

RBI announces Rs 60,000 crore OMO, other steps to inject liquidity into system

The OMO purchase will be undertaken in three tranches of Rs 20,000 crore each, wherein RBI will buy government securities from the open market.

A zero accident policy is a very risky policy for India's growth, says Uday Kotak

Despite a 'rough history' in India's banking sector, the nation must find ways to fix things quickly and move on, whenever things goes wrong, Kotak added.

Bandhan Bank completes digital migration of core banking system

Recently, certain banks have encountered technical difficulties with their digital and tech-based banking services.

Binance.US set to be cut off from banking system after SEC suit

In a tweet of an email to customers, the platform said its payment and banking partners have signaled an intent to pause US dollar fiat channels as early as June 13.

MC Exclusive | No reason why UCO bank should not lend to Adani group, says MD & CEO

When it comes to extending new loans to the group, the lender will assess how viable its projects are, says Soma Sankara Prasad

Trouble in Credit Suisse unlikely to any impact India's banking system: Experts

Although Credit Suisse is more relevant to India's financial system than Silicon Valley Bank (SVB), it has very limited operations, according to a report by Jefferies India.

Joe Biden to speak today to reassure Americans on banking system: White House

President Joe Biden said he planned to speak about the US banking system Monday morning, to reassure Americans after the failures of Silicon Valley Bank and Signature Bank. "I will deliver remarks on how we will maintain a resilient banking system to protect our historic economic recovery," he said Sunday night in a statement that also included Biden's promise of "holding those responsible for this mess fully accountable."

Bancassurance turns nightmare as bankers face pressure to sell insurance products

Senior-level executives are getting handsome perks such as holidays for meeting targets on the sale of third-party products. Those who fail are often threatened with penal measures.

Bank credit growth accelerates to 14% in Q1 despite hike in lending rates: RBI data

The growth came despite a 0.21 per cent increase in the weighted average lending rate on the outstanding loans, it said, adding that this was the first quarter of a hike after ten successive quarters of a decline.

COVID-19 impact | Indian banking system will be one of the slowest to recover: S&P

Major banking systems, such as the US, UK, France, Germany, Spain, Italy, Japan, Australia, Brazil, Indonesia, and Russia, are also unlikely to recover until 2023

Banking system in tatters as wilful defaulters doubled in last five years: Congress

Calling the government a "suit-boot aur loot ki sarkar", Congress spokesperson Randeep Singh Surjewala said in a tweet, "The banking system is in tatters. Wilful defaulters have doubled in five years. 5090 creditors have increased to 11000 creditors."

Opinion | Time to support growth as inflation set to undershoot 4 percent

We expect domestic growth impulses could remain soft at least for the next two quarters

Opinion | The case for reducing the CRR

It would inject liquidity in the banking system, reduce the statutory cost of deposits for banks and help them reduce lending rates

India's weak banking system to strengthen over 2 years: S&P

In its report titled 'The Worst Is Almost Over For India's Banks', S&P said the ratings on the banks are "more likely to be raised than lowered" in the next 2 years. But, weak risk management and internal-control practices limit the potential for considerable upside, it said.

RBI Guv Urjit Patel appears before Par panel; assures steps to strengthen banking system

Sources present at the meeting of the Parliamentary Standing Committee on Finance said the RBI Governor expressed confidence of tiding over the crisis regarding non-performing assets (NPAs).

PBOC to skip open market operations for the 11th straight session

"Although general liquidity level in the banking system is down a bit due to local government bond issuance, it is still at a relatively high level," PBOC said in a statement on its website.

Parliamentary panel wants banks to devise mechanism to detect NPAs early

Concerned over high level of bad loans in the banking system, a parliamentary panel has asked PSU banks to devise a mechanism to detect stressed assets early so that urgent corrective steps can be taken.

Crisil sees weak recovery on spike in bad loans to 10.6%by Mar

Though there is a fragile recovery in credit quality among the corporates, the stress in the banking system is expected to continue in fiscal 2018 and may top 10.6 per cent by March next, warns a report.

Digital transaction brings in savings to govt:Nirmala Sitharaman

"The visionary approach of Prime Minister ensures recognition of self respect to all sections including those who are marginalised and belonged to the poorer sections and to register development of all states" she said while inaugurating a seminar on Digi Dhan Yojana.

Corporate credit offtake still weak, but retail too losing steam

While much of the weakness on the corporate loans was anticipated, the worrying part was the slowdown in momentum of growth in retail loans, given retail has been the only growth driver for bank credit over the last few years Both mortgages and non-mortgages slowed..

Mint Annual Banking Conclave: Future of Indian banking system

In the 10th Mint Annual Banking Conclave, a panel of experts speak about -- opportunities, hurdles, how to address these issues, what can be called as the future of the Indian banking system and how technology is driving that.

Rs 6.78 lakh cr remonetised, Rs 9.1 lakh cr in circulation: Govt

"Remonetisation is taking place ceaselessly at a fast pace. Between November 10, 2016 and January 13, 2017, the notes in circulation have increased by Rs 6.78 lakh crore, thereby taking the total notes in circulation to Rs 9.1 lakh crore," Minister of State for Finance Arjun Ram Meghwal said in a written reply in Rajya Sabha.

RBI Governor faces tough questions on demonetisation

RBI Governor Urjit Patel today faced some tough questions from MPs as he could not set a time frame for return of normalcy in the banking system even as the central bank asserted that Rs 9.2 lakh crore or 60 percent of demonetised currency has been replaced.

RBI has pumped in Rs 9.2 trillion of new notes

The Reserve Bank of India has injected rupees 9.2 trillion ($135.21 billion) worth of new currency notes into the banking system to help replace the notes banned in November, a parliamentary panel member quoted central bank governor Urjit Patel as saying on Wednesday.