Page 3 - Bank Deposits
Bank NIMs to compress 10-120 bps in FY24: Rating agencies CRISIL and ICRA
With a healthy loan profile, credit costs fall further from 0.7% in FY23
 "Bank NIMs to compress 10-120 bps in FY24: Rating agencies CRISIL and ICRA")
Small banks vs private/PSU banks: Where should you lock your money?
Here are some key points to consider when making your decision
 "Small banks vs private/PSU banks: Where should you lock your money?")
Why spate of bank deposit rate hikes could be a thing of the past
Around 85% of the Rs 2000 notes are deposited in the bank accounts and not exchanged for smaller denominations. Thus, bank deposits are likely to increase by atleast Rs 2 lakh crore
Deposits shrink Rs 59,623 cr, credit down Rs 6k cr in May 19 fortnight
CARE Ratings said the credit-to-deposit ratio has been generally trending upward since the latter part of FY22
 "Deposits shrink Rs 59,623 cr, credit down Rs 6k cr in May 19 fortnight")
Explained: What are the tax implications of depositing Rs 2,000 notes?
Are you depositing Rs 2,000 notes in the bank? Will your deposits be monitored? Will you need to pay any tax on it? How can you avoid a tax notice on these deposits? Read to find the answer
 "Explained: What are the tax implications of depositing Rs 2,000 notes?")
Interest rates on fresh term deposits and loans dip in April, shows data
The rise in rates seems to have been arrested for now at the end of May. Deposits coming from the withdrawal of the Rs 2,000 note may improve liquidity
 "Interest rates on fresh term deposits and loans dip in April, shows data")
Bank credit grows at a steady 15.5% YoY in early May, shows RBI data
Deposit mobilisation improves with 10.4% YoY growth
 "Bank credit grows at a steady 15.5% YoY in early May, shows RBI data")
Banks to launch 100 days campaign to trace, settle unclaimed deposits: RBI
The Reserve Bank of India on Friday said a special 100 days campaign will be launched under which banks trace and settle their top 100 deposits in every district of the country. The banks will commence the campaign from June 1, 2023. Balances in savings/current accounts which are not operated for 10 years, or term deposits not claimed within 10 years from date of maturity are classified as "unclaimed deposits". These amounts are transferred by banks to "Depositor Education and Awareness" (DEA) Fund maintained by the Reserve Bank of India. "The Reserve Bank of India today announced a 100 Days 100 Pays' campaign for banks to trace and settle the top 100 unclaimed deposits of every bank in every district of the country within 100 days," the central bank said in a statement. This measure, it added, will complement the ongoing efforts and initiatives by the Reserve Bank to reduce the quantum of unclaimed deposits in the banking system and return such deposits to their rightful ...
 "Banks to launch 100 days campaign to trace, settle unclaimed deposits: RBI")
Citi India plans to launch sustainability-linked deposits in coming days
Money raised from these deposits will be invested by Citi to help multinational customers meet their environmental, social and governance obligations in India
 "Citi India plans to launch sustainability-linked deposits in coming days")
US bank deposits fall $76.2 bn, led by large institutions: Fed data
Meantime, commercial bank lending rose $13.8 billion last week on a seasonally adjusted basis
 "US bank deposits fall $76.2 bn, led by large institutions: Fed data")
Flows into NRI deposits jump 2.5x in April-February to $6.4 billion
Outstanding deposits decline in Feb 2023 over Jan 2023
 "Flows into NRI deposits jump 2.5x in April-February to $6.4 billion")
Flows into NRI bank deposits in India top $6 bn mark in April 2022-Feb 2023
Outstanding deposits decline in Feb 2023 over Jan 2023
 "Flows into NRI bank deposits in India top $6 bn mark in April 2022-Feb 2023")
Heirs must know what you own to claim wealth: HNIs should opt for trusts
Appoint nominees and write a Will to make the transfer hassle-free
 "Heirs must know what you own to claim wealth: HNIs should opt for trusts")
US banking goliaths report bumper profits amid turmoil, beat estimates
The banks' earnings were bolstered by higher interest rates, which allowed them to charge more for loans above what they pay out on deposits
 "US banking goliaths report bumper profits amid turmoil, beat estimates")
Wall Street bank earnings under pressure after global banking crisis
Earnings per share (EPS) for the six biggest US banks are expected to be down about 10 per cent from a year earlier, analyst estimates from Refinitiv I/B/E/S show
 "Wall Street bank earnings under pressure after global banking crisis")
At 19%, BoB's loans grew faster than overall banking system in FY23
The lender's deposit growth at 15.1% YoY was also higher than the banking average
 "At 19%, BoB's loans grew faster than overall banking system in FY23")
RBI to come out with centralised web portal to search unclaimed deposits
"We expect the portal to be ready in 3-4 months," said M Rajeshwar Rao, deputy governor, RBI
 "RBI to come out with centralised web portal to search unclaimed deposits")
How banks' lending rates have gone up faster than deposit rates
According to ICICI Securities, with the credit-deposit ratio at 75.3 per cent, this could put further pressure on deposit rates
 "How banks' lending rates have gone up faster than deposit rates")
HDFC Bank garners record Rs 1.5 trillion deposits in a quarter
This is the highest in a three-month period since merger announcement with HDFC Ltd
 "HDFC Bank garners record Rs 1.5 trillion deposits in a quarter")
FY23 bank credit growth highest since FY12, up 15%, shows RBI data
Banks were engaged in intense competition by offering higher interest rates on term money to mop up funds
 "FY23 bank credit growth highest since FY12, up 15%, shows RBI data")
