Banking

In July 2024, the total strength of outsourced staff in the BFSI (banking, financial services, and insurance) space was 77,000, out of which 6,000 were recovery agents

The trade union representing the supervisory cadre of bank employees said this decision follows its 102nd Executive Committee Meeting held on January 6

Bank officers' union AIBOC on Thursday threatened to go on a nationwide strike on February 24-25 to press for their various demands, including a 5-day work week and adequate recruitment in all cadres.

Banks engage in cross-selling financial products from their subsidiaries and third parties to their customer base

Finance minister Nirmala Sitharaman is the chairperson of the six member council and secretaries of department of economic affairs and financial services are the other members

Estimates 13.5% loan growth in FY25

The meeting aims to review the progress of various financial inclusion schemes and discuss future funding requirements in light of the upcoming Budget

Margin pressures, sluggish loan offtake may weigh on performance

The rating agency said in a release that banks' rapid improvement in financial metrics seen over financial years 2021 to 2024 is likely to have peaked and will see an "inflexion point" in 2024-25

While a softening of yields was observed on expectations of a rate cut, yields climbed again, tracking the rise in US Treasury yields

As per the master direction, credit information companies (CICs) will have to send alerts through SMS/ email to customers when their Credit Information Report (CIR) is accessed by the specified users

While state-owned Union Bank of India reported a 2.2 per cent sequential growth in advances in Q3FY25, its deposits shrank by 2 per cent during the same period

Assam asks MFIs to identify borrowers to get balance payments

SBI report, released on Friday, claimed a decline in poverty ratio in rural areas

HDFC Bank reported a 15.8 per cent rise in total deposits to Rs 25.63 trillion as against Rs 22.14 trillion at the end of the third quarter of the previous financial year

According to a Finance Ministry statement, this platform consolidates information on e-auction properties from all PSBs and offers a one-stop destination for buyers and investors

Meanwhile, Yes Bank reported a marginal contraction in deposits during the October-December period (Q3FY25) over the previous quarter

The branches of The National Co-operative Bank, Bangalore (Karnataka), will function as branches of Cosmos Co-operative Bank Limited (Maharashtra) with effect from January 6, 2025

The first is 'Har Ghar Lakhpati,' a pre-calculated recurring deposit (RD) scheme designed to help customers accumulate Rs 1,00,000

For the full calendar year 2024, UPI-enabled platforms handled approximately 172 billion transactions, reflecting a 46 per cent annual increase