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Nonetheless, tepid growth in current and savings account deposits has sustained in the April-June quarter.
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In the last few quarters, banks have been struggling with deposit mobilisation, especially on the CASA front, due to unattractive interest rates for depositors as other financial products offered greater returns.
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The demand for SLR comes after the RBI has cut cash reserve ratio by 100 basis points to improve liquidity
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K. Satyanarayana Raju, MD and CEO of Canara Bank, said in an interview with Moneycontrol that the yield on corporate loans is likely to ease by 10–15 basis points in the coming months due to the RBI rate cut.
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Bank’s cost of deposit was 5.8 percent in Q1, which is presently 5.9 percent, change of just 10 bps primarily because of the change in the composition of the deposit, Samra said
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"Cost of employee to bank is very high in PSBs. The public sector banks must enhance their operational efficiency and reduce costs by leveraging AI and technology," the official added.
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Small banks showed a steep fall in CASA ratio while large lenders such as HDFC Bank and ICICI Bank showed a modest reduction
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The lender's gross advances grew 6.16 percent to Rs 61,326.42 crore in the three months to March 2023
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Instead of following the traditional brick-and-mortar credit-based model, Fino's SFB plan will offer products to the customer through merchant points and a digital platform in an asset-light manner, Rishi Gupta says.
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One of the oldest private sector banks in the country, Tamilnad Mercantile Bank offers a range of banking and financial services primarily to micro, small and medium enterprises, agricultural and retail customers.
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The advances grew by 15.5 percent year-on-year to approximately Rs 11.98 lakh crore in Q2FY22 and the same increased 4.4 percent sequentially, said HDFC Bank.
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With healthy provision cover, reasonable buffer to face Covid-led disruptions, adequate capital and excellent liability to propel growth, Axis Bank appears to be at a vantage position to accelerate the growth pedal in the post Covid era
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Major accounting frauds typically come to light when liquidity tightens. Given the over 2% point jump in money market rates in India in the 12 months to September the probability of major accounting fraud coming to light in the Indian stock market is growing.
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On March 31, 2017 Raghukool Estate Developement LLP sold 26,70,000 shares of Shoppers Stop at Rs 360.
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Speaking to CNBC-TV18, Chanda Kochhar, Managing Director and Chief Executive Officer of ICICI Bank, said a large part of the lending rates cut had already happened.
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Morgan Stanley feels that Axis may have seen interest based on its strong retail deposit franchise, which make up for almost 80 percent of its funding. However, it has also highlighted concerns on the bank's profitability based on its NPAs.
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Despite denials from both Kotak Mahindra and Axis Bank, the rumours of a merger have seen shares of the private lenders rise 3.38 percent and 8.31 percent, respectively, over the past month.
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Reserve Bank of India Governor Urjit Patel said that given the quantum of reduction in repo rates that have taken place over the past two years, there is some more scope for reduction in lending rates.
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The house is upbeat on consumption theme and likes ITC, Emami and Sheela Foam, said Jaideep Goswami, Head-Institutional Equities, ICICI Securities.
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Even as banks have been accused of being behind the curve when it comes to cutting interest rates, ICICI Bank MD and CEO Chanda Kochhar says in the current financial year, they have been more proactive than the central bank itself.
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Speaking to CNBC-TV18, Vishwavir Ahuja, RBL Bank‘s Managing Director and Chief Executive Officer, said unexpectedly high loan growth in the third quarter had put it on track to meet its annual guidance of 30-35 percent.
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Credit growth of United Bank of India (UBI) at the end of FY 2016-17 will be as low as 7-8 percent due to demonetisation impact, its MD & CEO P Bajaj said.
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Bandhan Bank today cut its Marginal Cost of funds Based Lending Rate or MCLR by 148 basis points to 10.52 percent.
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With currency exchange getting done by December 31 and situation normalising, 2017 could see upmove in the market, believes Sanjay Dutt, Director of Quantum Securities.
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Speaking to CNBC-TV18 Ananth Narayan of Standard Chartered Bank said that the market will continue to remain in excess liquidity. Lack of credit offtake, economic slowdown in the quarter coupled with surplus deposits in banks will mean a soft corner for bonds, he said.
