Banking Industry

To improve governance, customer services says experts

The Finance Ministry on Tuesday issued a host of suggestions with regard to 'Transfer Policy' of public sector banks with an aim to promote greater transparency. According to an advisory issued to heads of public sector banks (PSBs), the Department of Financial Services asked lenders to incorporate advices suitably in their respective 'Transfer Policy' with the approval of their boards and take immediate action for its implementation and compliance from 2025-26. "PSBs are also advised to send a copy of the policy, so modified, to this Department, at the earliest," the communication said. The transfer policy has been reviewed with an aim to promote greater transparency and ensure formulation of a uniform and non-discretionary policy, it said. Some of the changes advised include banks to automate the transfer process and to develop an online process for the same with facilities of giving location preference options to its employees, it said. "Women employees be transferred as far as

Majority banking leaders across the world say they would be willing to reward employees who made effort to return to office

SBI had 22,640 branches at the end of September 2024, up from 15,870 in March 2014

Other income expands sharply but provisioning too

Business Standard BFSI Insight Summit 2024: Industry experts share insights into reach, regulatory pressures, growth opportunities for non-banking financial companies, microfinance institutions

Top public sector bank executives underlined that the customers are now the centrepiece for banks during a panel discussion at the Business Standard BFSI Insight Summit in Mumbai

The proposed document said the RRB with the largest business (total deposits and advances) among the amalgamating RRBs in a state would be the transferee RRB in that state

Credit growth coming off its highs has largely contributed to credit-deposit growth aligning

Banks with large asset sizes and those endowed with greater resources are more inclined to invest in innovation and modern technologies like AI

The bank's net interest income (NII) increased to Rs 10,517 crore in Q2 FY25 from Rs 9,923 crore in Q2 FY24, showing an improvement of 5.99 per cent on a year-on-year (Y-o-Y) basis

Following the company's Q2 earnings, SBI Life Insurance managing director and chief executive officer (MD&CEO) Amit Jhingran spoke on the road ahead for the company

Total income grew 15 per cent to Rs 1,565 crore during the quarter under review, from Rs 1,365 crore during the July to September period last financial year

The financial institution is also looking to raise funds from multilateral agencies and is preparing for ratings to facilitate international market fundraises

Pralay Mondal discusses the bank's roadmap, reducing the share of gold loans, and the recent Fairfax stake sale

This will be 2nd meeting of its kind

Expects net to cross Rs 5,000 cr for Fy25

State Bank of India (SBI) is planning to open 600 branches across the country in the current financial year in a bid to tap business opportunities in emerging areas including large residential townships. "We have strong branch expansion plans...this would be mainly focused on emerging areas. A lot of residential colonies are not covered by us. Around 600 branches is something we are planning in the current year," SBI Chairman C S Setty told PTI in an interview. The country's biggest lender opened 137 branches last fiscal. Of the total, 59 new rural branches were inaugurated. SBI has a network of 22,542 branches across the country as of March 2024. Apart from branch presence, SBI has 65,000 ATMs and 85,000 business correspondents. "We serve about 50 crore customers and we take pride in saying that we are the banker to every Indian, and, more importantly, to every Indian family," he said. He also said it would be his endeavour to transform SBI into the best bank, the most valued ba

The Committee noted that banks in India are increasingly linking their personal, retail, and MSME loans to the policy repo rate, with a growing share of advances tied to this rate

The state-owned lender will raise Rs 2,500 crore through additional Tier-I bonds in Q3