Indian Banking System

IndusInd Bank share drops 3%, hits 52-week low as UBS slashes target price

The fall in the IndusInd Bank share price came after Zurich, Switzerland-based brokerage UBS slashed its target price to Rs 1,150 per share, according to reports

Govt to revamp infrastructure lender IFCI by shutting its lending ops

The government plans to infuse Rs 500 crore into IFCI this year

Indian banks' microfin loan stress to persist after new regulation: Bankers

Last month, in its latest move, the RBI asked lenders to stop issuing new microfinance loans to borrowers unless they have cleared previous loans, three of the bankers said

Finmin starts phase 4 of RRB consolidation, number to fall from 43 to 28

In a bid to achieve operational efficiency and cost rationalisation, the Finance Ministry has initiated the fourth round of consolidation for Regional Rural Banks (RRBs) and the number of such banks is likely to come down to 28 from 43 at present. As per the roadmap prepared by the Finance Ministry, 15 RRBs operating in various states would be merged. Among states that will see consolidation of RRBs include Andhra Pradesh, which has the maximum number of RRBs (4), Uttar Pradesh and West Bengal (3 each), and Bihar, Gujarat, Jammu & Kashmir, Karnataka, Madhya Pradesh, Maharashtra, Odisha and Rajasthan (2 each). In the case of Telangana, the amalgamation of RRBs will be subject to bifurcation of assets and liabilities of Andhra Pradesh Grameena Vikas Bank (APGVB) between APGVB and Telangana Grameena Bank. "Given the rural expansion of RRBs and agro-climatic or geographical ethos and in order to retain the USP of RRBs viz the closeness to communities, it is the felt need to embark on .

Banks, FIMMDA discuss MIBOR replacement with collateralised rate framework

Banks bat for collateralised benchmark with a balanced 50-50 weighting between TREPS and CHROMs

IBPS Clerk 2024: Prelims scorecard now available at ibps.in; details inside

The Institute of Banking Personnel Selection has declared the IBPS Clerk Prelims Score Card 2024 today, October 4, 2024 on the official website of IBPS at ibps.in

Banks to play key role in making India developed nation: FM Sitharaman

She said that banks cannot have a digital system that gets hacked somewhere, compromising the entire system and the trust placed in it

RBI seeks granular data from NBFCs, wants to check lending standards

Purpose is also to check if interest rates being charged are in line with far practices code

Nomura cuts target prices for Axis Bank, SBI and BoB ahead of Fed meeting

Analysts at Nomura suggested that larger private banks are likely to experience a greater negative impact on their NIMs from the potential US Fed rate cuts compared to mid-sized & smaller banks.

ICICI Bank-Videocon case: SC notice to Chanda Kochhar, husband on CBI plea

The Central Bureau of Investigation has alleged that after the loan was sanctioned, Videocon Group promoter VN Dhoot invested Rs 64 cr into Nupower Renewables, a company managed by Chanda Kochhar

Trigger happy regulator? RBI Dy Guv says action to protect customers

In recent years, the regulator has imposed business restrictions and barred entities from onboarding new customers for violating norms and causing customer inconvenience

Long-term projects should be funded through debt market: Sanjiv Bajaj

Banks are ill suited to fund long term projects as there is a mismatch between assets and liabilities, he said

Foreign lenders lured by stake sales in Indian banks, face tighter rules

Banking sector deals in India, especially those involving foreign entities, are rare

Expecting NIMs to climb in a few quarters, says RBL Bank MD & CEO

He outlines the bank's approach to safeguarding its net interest margin (NIM), mobilising liabilities amid fierce competition for deposits, and reorganising its advances portfolio

The untold story of bank deposits

Households still invested Rs 10 trillion in bank deposits and another Rs 2.5 trillion in small savings deposits out of this Rs 29.7 trillion pie, or 42%

FM to discuss bad loans taken over by NARCL with PSBs, RRBs on Monday

Sitharaman had last chaired a meeting with heads of PSBs in December 2023

PSBs target healthcare, housing to boost deposits with new lucrative deals

RBI Governor Shaktikanta Das highlighted at the press briefing that interest rates are deregulated and banks are free to decide on interest rates

Yes Bank appoints veteran banker Sumit Bali to head retail business

Bali will join Yes Bank from Aug. 26 and report to executive director Rajan Pental, one of the sources said

RBI mops up Rs 11.6K crore via OMOs in July amid liquidity surplus

Along with OMO sales, the RBI has also been conducting VRRR auctions in order to drain excess liquidity

Rates to remain elevated for loans, bulk deposits: Bank of India MD & CEO

With rising cost of funds, loans rates on highly rated corporates will need a relook to protect margins, he says