Page 10 - Banking

Sovereign green bonds trading at IFSC to start in 2nd half of FY25: RBI Guv

The government has been raising funds through green bonds since 2022-23 and has raised a total of Rs 36,000 crore in the last two years

Bank of Baroda, Canara Bank, and UCO Bank hike MCLR by 5 basis points

UCO Bank reduces T-bill benchmark linked rates

Govt tables banking laws bill in LS, seeks to raise nominees per a/c to 4

Another proposed change relates to redefining 'substantial interest' for directorships, which could increase to Rs 2 crore instead of the current limit of Rs 5 lakh, which was fixed almost six decades

Banks should offer innovative products, services to garner deposits: Das

This nudge comes amid sluggish deposit growth, which has led to a widening gap between credit and deposit growth

Continuous clearing of cheques to speed up payments, enhance efficiency

The cheques will be scanned, presented, and passed in a few hours and on a continuous basis during business hours

New UPI feature to allow multiple users to use one account for transactions

RBI has increased the limit for tax payments through UPI from Rs 1 lakh to Rs 5 lakh per transaction

RBI status quo on interest rates to boost demand for realty sector: CEOs

The real estate industry experts are expecting the move to continue the growth momentum in the sector

Q1 results: SFBs' net profit growth flat as provisions jump over 2x

Provisions more than double on asset quality pressures

No need to keep minimum balance in Jan Dhan, basic savings accounts: FM

Since MP is talking about banks collecting money for basic minimum balance which is not there in the account, that does not apply to PM Jan Dhan accounts, basic accounts of poor people, FM said

Muted treasury gains for banks in Q1 FY25 due to new investment norms

Under the new norm, banks must categorise bonds as HTM on a permanent basis, with the exception of 5% of the portfolio that can be withdrawn throughout the year

PSU banks' compensation against fraud rises over three-fold to Rs 140 cr

Union Bank of India paid the highest compensation of Rs 74.96 cr followed by Bank of India at Rs 20.38 cr and Indian Bank at Rs 16.16 cr during FY24, FM Nirmala Sitharaman said

Results review: PSBs' net profit grows 16% to Rs 39,974 crore in Q1

NII under pressure; asset quality continues to improve

NPAs of PSBs on Mudra loans declined to 3.4% in FY24: FM Sitharaman

Sitharaman addressed questions regarding NPA associated with Mudra loans, highlighting a significant reduction in NPA rates over the past few years

Banking system liquidity improves to touch 1-yr high; overnight rates ease

According to Bloomberg data, the weighted average call rate also declined 5 bps on Monday to 6.44%

UPI transactions jump 36% to Rs 60 trn in Apr-Jun qtr: MoS Finance

As per the details of UPI transactions shared by Minister of State for Finance Pankaj Chaudhary in the Lok Sabha, 41.22 bn UPI transactions took place between April and June in 2024-25

Allocated Rs 633 cr for ECL provisions: Jammu & Kashmir Bank MD & CEO

This journey over the past two and a half years has been remarkably engaging and incredibly interesting for me, Baldev Prakash, Jammu & Kashmir Bank, MD & CEO

RBI revises NPAs provision norms for co-op banks to ensure uniformity

Prescribes one-time measure for smoother transition to new regime

Indian lenders need $1 bn to upgrade core bank systems: BCG report

Companies' legacy core systems have various problems, it says

Bank of Baroda sees up to 15 percentage points LCR impact after RBI norms

The LCR level was 122 per cent in March 2024. As a part of liability management, the bank has sold down borrowing on excess Statutory Liquidity Ratio (SLR), Chand said

Why Indian banks need to be extra nice to their less tech-savvy customers

Out of 820 million active internet users last year, 370 million used the web for digital banking