Besides banking services, SBI is planning to house specialist officers for forex, treasury solutions, wealth management and credit needs of startups.
Overall complaints relating to credit cards, failure to meet commitments, and Direct Selling Agents (DSAs) and recovery agents increased during July 1, 2020 to March 31, 2021 as against the previous year, with complaints related to DSAs and recovery agents surging 61%, the RBI said.
The increase in lending rate comes days after the Reserve Bank of India hiked its benchmark lending rate by 50 basis points to tame inflation.
Regulated entities must ensure recovery agents call borrowers only after 8 am and before 7 pm, the regulator said in a release.
Chaudhry was also separately granted a total of 412,938 stock options of Axis Bank during FY22
Some banks may choose to mobilise deposits by adopting a relatively more aggressive pricing strategy, which could limit the upside on NIMs, analysts said.
The top five banks by asset size accounted for half of the reduction in provisions and 53 percent of the drop in bad loans. This means small lenders are yet to recover completely
While the Deposit Insurance and Credit Guarantee Corporation (DICGC) cover has helped a majority of depositors, others with deposits above Rs 5 lakh are still waiting to get their money back.
As bond yields soften, SBI will recover most of the mark-to-market losses made in Q1, Dinesh Kumar Khara said
The Reserve Bank of India (RBI) increased the key policy repo rate — at which it lends short-term money to banks — by a steep 50 basis points or 0.5 per cent to a three-year high of 5.40 per cent to tame high inflation.
A 50 bps rate hike may seem hawkish, but it was required to control inflation, South Indian Bank MD & CEO Murali Ramakrishnan said
Although outsourcing of a permissible activity is an operational decision of the lender, it exposes them to various risks, the RBI said
At an auction on August 3, RBI sold 91-day T-Bills at a cut-off yield of 5.56 percent, down six basis points (bps) from last week. It sold the 182-day and 364-day notes at 5.89 percent and 6.23 percent cut-off yields, respectively, down nine and 10 bps from last week’s levels.
Of the total 248 successful data breaches, 41 were reported by PSBs, while private sector banks reported 205 data attacks
Mehul Choksi promoted Gitanjali Gems Ltd is the top wilful defaulter with Rs 7,110 crore in dues
During 2021-22, the write-off amount came down to Rs 1,57,096 crore compared to Rs 2,02,781 crore in the previous year.
Floating rate bonds have seen tepid demand in weekly auctions, which is why they have devolved on the primary dealers for three successive weeks of issuance
New Delhi, Aug 1 State-owned Punjab & Sind Bank on Monday reported an 18 per cent growth in net profit at Rs 205 crore in the April-June quarter of..
A spiraling crisis of stalled projects has dented the confidence of hundreds of thousands of homebuyers, triggering a mortgage boycott across more than 90 cities and warnings of broader systemic risks. The big question now is not if, but how much it will batter the nation’s $56 trillion banking system.
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Deposit growth has floundered as high inflation has resulted in less savings, as would be depositors are choosing to put money into shares and mutual funds in search of better returns, said Madan Sabnavis, chief economist at state-owned lender Bank of Baroda.
In November 2020, Sebi had issued a show cause notice to the company following its April 2020 decision to wind up six debt schemes having Rs 25,000 crore of AUM from 3 lakh investors, citing liquidity challenges because of the pandemic.