Banks In India

The step comes as NOTTO looks to link all cornea transplant centres and tissue banks, including eye banks, with a national registry database of patients maintained by it

Broken period interest is the interest paid by a bank when purchasing government securities between coupon payment dates

South India-based Federal Bank on Wednesday reported a 16.74 per cent growth in consolidated net profit to Rs 1,027.51 crore for the June quarter, helped by higher recoveries from written-off accounts. The private sector lender's net profit grew to Rs 1,009.53 crore on a standalone basis, up from Rs 853.74 crore in the year-ago period. Its core net interest income moved up 19 per cent to Rs 2,292 crore during the reporting quarter on the back of a nearly 20 per cent growth in advances, while margin moderated to 3.16 per cent from 3.21 per cent in the preceding March quarter. Federal Bank Managing Director and Chief Executive Shyram Srinivasan, who will be demitting office in September after being at the helm for 15 years, told reporters that the bank is aiming to keep the net interest margin (NIM) between 3.15 and 3.25 per cent. The bank is aiming to keep all credit costs at 0.30-0.35 per cent, he said, adding that the bank is not focused on looking at the NIM number in isolation,

Jana Small Finance Bank on Monday reported an 89 per cent jump in its post-tax net profit to Rs 171 crore for the April-June quarter. The lender had reported a profit after tax of Rs 90 crore in the year-ago period. The core net interest income grew to Rs 610 crore from Rs 462 crore in the year-ago period on the back of a 25 per cent growth in advances and a 0.4 per cent expansion in the net interest margin to 8 per cent. The non-interest income was flat at Rs 189 crore for the reporting quarter. Amid the sluggish deposit growth in the system, the bank seems to have ducked the trend with a 41 per cent growth in the number. Its gross non-performing assets ratio increased to 2.62 per cent in June against 2.11 per cent at the end of the preceding March quarter, which was attributed to seasonal and event-driven factors by its managing director and chief executive Ajay Kanwal. The overall capital adequacy as of June 30 stood at 19.3 per cent against 18.7 per cent in the year-ago ...

The RBI publishes a list of bank holidays each month, advising customers to check the list to avoid unnecessary trips to the bank on holidays

The Reserve Bank of India's directive, which will go into effect in September, requires banks and non-banking financial companies to provide customers options to choose multiple card networks

CLSA expects private sector banks, which have been stock market laggards over the past few months, to give better returns ahead, given a good business outlook and inexpensive valuations

Banks can significantly increase employee productivity and revenues by incorporating generative AI (GenAI) in their operations, according to a report by IT company Accenture. Accenture analysed publicly available employee data to estimate the impact of generative AI on banking tasks. The company modelled the financial implications for over 150 large banks globally, including Indian public and private sector banks, over a three-year period. "Banks that move quickly to scale generative AI across their organisations could increase their revenues by up to 600 bps (basis points) in three years," the research revealed. Banks which effectively adopt and scale generative AI could increase employee productivity by up to 30 per cent by streamlining numerous language-related tasks, it said. "Operating income could increase by around 20 per cent, while return on equity levels could rise by 300 bps...By helping banks operate more efficiently, the technology could lead to 1-2 per cent in cost ..

The committee will include representatives from three state-run banks and be led by former CBI Special Director DC Jain

They added that the recommendation was currently under review with the NFRA, a regulator that oversees auditing, which will submit its views to a panel of top regulators

BFSI firms hold a weighting of 34.5%, down from 36.7% at the end of Dec 2022

The total income of branches more than doubled to Rs 60,596 crore in FY23 from Rs 22,947 crore in FY22. The expenses grew to Rs 51,479 crore in FY23 from Rs 19,709 crore

The RBI's increased risk weightage will hit growth in personal loans, credit cards and NBFCs

The commerce ministry on November 15 will do a soft launch of the revamped electronic bank realisation certificate for self-certification by exporters to promote ease of doing business for traders. An electronic Bank Realisation Certificate (eBRC) is an important document for exporters and is issued by a bank as a confirmation that the exporter has received the payment from a foreign buyer against the export of goods or services. This certificate validates repatriation of export proceeds to the country and ensure compliance with provisions of foreign exchange rules. eBRCs can be generated for outbound shipments of goods, services and deemed exports. According to a trade notice of the Directorate General of Foreign Trade (DGFT), the upgraded system is based on electronic inward remittance messages to be transmitted directly by banks to the DGFT. Based on the messages received, the exporters would self-certify their eBRCs. "The enhanced eBRC system shall enable exporters to reduce

The plan to set up this mechanism has come up at a time when the government has asked banks to play a more active role in financing startups

Lenders hesitate to deploy excess funds with the central bank due to uncertainty about the duration of recently withdrawn Rs 2,000 notes, affecting liquidity overall as loan demand remains strong

Healthy growth in NII, controlled credit costs to support bottom line: Analysts

According to the Reserve Bank of India's (RBI) list of holidays, 8 holidays are state-specific holidays for various celebrations across various states alongside others are weekend holidays

A big off-record talking point in recent times has been that boards are now burdened with matters that should be in the domain of banks' professional management

Banks have been slow to pass the rate hikes on the liabilities while the assets side saw immediate revision