BANKING

Union finance minister Nirmala Sitharaman has approved the creation of additional senior level posts in nationalised banks to enhance administrative efficiency. The number of Chief General Manager posts across 11 Nationalised Banks is increased from 80 to 144, with corresponding increases in other senior positions.

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BANKING

Ghosh brings more than 30 years of experience across corporate and development banking, venture capital. He started his career in 1993 and spent a decade with ICICI, Reliance and Rabo India before joining Yes Bank as group president in 2004.

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BANKING

India's private credit market is rapidly expanding with new local participants, raising concerns about potentially weakened lending standards. Experts highlight possible risks while regulators emphasise the sector's resilience. Despite challenges, the long-term outlook remains positive as investor interest grows.

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BANKING

Commercial banks are raising outflow rates on retail deposits as they prepare for new liquidity coverage ratio rules. These changes, effective from April 1 next year, will require more investment in high-quality liquid assets. This aims to mitigate risks of mass withdrawals, similar to the collapse of Silicon Valley Bank in the US.

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BANKING

Indel Money launches its fifth public issue of secured NCDs, offering a base amount of Rs 75 crore with an option to retain oversubscription up to Rs 75 crore, totaling Rs 150 crore. The coupon yields up to 13.44% per annum. Funds will be used for lending, financing, and corporate purposes.

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BANKING

UCO Bank recovers Rs 414 crore from 26 accounts through NCLT in Q2, with Rs 393 crore resolved and Rs 21 crore under liquidation. Gross NPA ratio drops to 3.18% from 4.14% last year. Domestic advances up by 21.62% year-on-year.

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BANKING

The finance ministry is considering increasing Chief General Managers in public sector banks to support business growth and profitability. Current guidelines, issued in 2019, permit one Chief General Manager for four General Managers. PSBs posted record profits, with SBI contributing over 40% of total earnings.

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