Bank credit picked up 7.1 per cent in November, higher than 5.9 per cent clocked in the same period a year ago driven largely by better growth in retail, agriculture and MSME loans according to the latest data on sectoral deployment of bank credit released by the Reserve Bank of India.Bank credit picked up 7.1 per cent in November, higher than 5.9 per cent clocked in the same period a year ago driven largely by better growth in retail, agriculture and MSME loans according to the latest data on sectoral deployment of bank credit released by the Reserve Bank of India.
Customers would, however, continue to be eligible for five free transactions (inclusive of financial and non-financial transactions) every month from their own bank ATMs.
IICC is the first international clearing corporation set up at GIFT-IFSC that acts as a central counterparty providing clearing and settlement and risk management services.
Using stock market indicators to measure systemic risk in the banking sector, it is found that the systemic risk in the banking sector receded in 2021 from its elevated level during the first wave of the pandemic, according to an assessment made in the latest Financial Stability Report released by the Reserve Bank of India.Using stock market indicators to measure systemic risk in the banking sector, it is found that the systemic risk in the banking sector receded in 2021 from its elevated level during the first wave of the pandemic, according to an assessment made in the latest Financial Stability Report released by the Reserve Bank of India.
On Tuesday, Jammu & Kashmir Bank had said that its board of directors appointed Baldev Prakash as the MD & CEO for three years, to be effective from his actual date of taking charge.
"In view of the prevalent uncertainty due to new variant of COVID-19, the relaxation provided in the ... circular (relating to Periodic Updation of KYC - Restrictions on Account Operations for Non-compliance issued in May) is hereby extended till March 31, 2022," the RBI said on Thursday.
Vishwavir's sudden departure was seen as a result of the RBI communication to the bank a day earlier (December 24, 2021), appointing his Chief General Manager Yogesh K Dayal to the board of the private sector lender.
“LIBOR Transition is a significant financial event for international financial markets,” said Ashwini Kumar Tewari, Managing Director (International Banking, Technology & Subsidiaries), SBI. “As the country’s largest bank, SBI has been assiduously tracking the global developments in the LIBOR space to align with the best practices and has proactively modified its systems and processes to embrace the change from LIBOR to ARR.”"In view of the prevalent uncertainty due to new variant of COVID-19, the relaxation provided in the ... circular (relating to Periodic Updation of KYC - Restrictions on Account Operations for Non-compliance issued in May) is hereby extended till March 31, 2022," the RBI said on Thursday.Vishwavir's sudden departure was seen as a result of the RBI communication to the bank a day earlier (December 24, 2021), appointing his Chief General Manager Yogesh K Dayal to the board of the private sector lender.“LIBOR Transition is a significant financial event for international financial markets,” said Ashwini Kumar Tewari, Managing Director (International Banking, Technology & Subsidiaries), SBI. “As the country’s largest bank, SBI has been assiduously tracking the global developments in the LIBOR space to align with the best practices and has proactively modified its systems and processes to embrace the change from LIBOR to ARR.”
Between April and the first week of December, credit disbursal grew to 7.1 per cent as against 5.4 per cent growth a year ago and 5.2 per cent in March 2021, according to the financial stability report released on Wednesday.
While investment and credit companies (ICC), the largest segment of NBFCs, showed subdued asset growth, infrastructure finance companies (IFCs) – a segment dominated by PSU NBFCs –decelerated in the first half of FY22.
"Macro stress tests for credit risk indicate that the gross non-performing asset (GNPA) ratio of SCBs may increase from 6.9 per cent in September 2021 to 8.1 per cent by September 2022 under the baseline scenario and to 9.5 per cent under a severe stress scenario," according to the 24th issue of the Financial Stability Report (FSR) released by the RBI."Macro stress tests for credit risk indicate that the gross non-performing asset (GNPA) ratio of SCBs may increase from 6.9 per cent in September 2021 to 8.1 per cent by September 2022 under the baseline scenario and to 9.5 per cent under a severe stress scenario," according to the 24th issue of the Financial Stability Report (FSR) released by the RBI.
Announcing the new festive offer on Wednesday, Bajaj Housing Finance, a fully owned subsidiary of Bajaj Finance, said that as a first in the industry, the housing finance company (HFC) allows eligible homebuyers to opt to link their home loan rates to the RBI's repo rate.
The second wave of the pandemic impacted the business volume of microfinanciers during the first half due to poor collections and the resultant moderation in fresh lending. The industry closed the first six months of the current fiscal with asset growth of only five per cent, rating agency ICRA said in the report released on Wednesday.Announcing the new festive offer on Wednesday, Bajaj Housing Finance, a fully owned subsidiary of Bajaj Finance, said that as a first in the industry, the housing finance company (HFC) allows eligible homebuyers to opt to link their home loan rates to the RBI's repo rate.The second wave of the pandemic impacted the business volume of microfinanciers during the first half due to poor collections and the resultant moderation in fresh lending. The industry closed the first six months of the current fiscal with asset growth of only five per cent, rating agency ICRA said in the report released on Wednesday.
In H1 2021-22, banks saw 1,802 reported cases of frauds amounting to Rs 35,060 crore which were related to advances. There were 1,532 reported cases of frauds linked to card/internet, involving Rs 60 crore, the report showed.
The revised guidelines on compensation require that the compensation of CEOs / Whole Time Directors / Material Risk Takers must be adjusted for all types of risk, their outcomes and time horizons.
Although the balance sheet growth of urban co-operatives banks (UCBs) in 2020-21 was driven by deposits on the liabilities side, subdued credit growth prompted acceleration in investments on the assets side, the report said.
HFCs (housing finance companies) also took several proactive steps to counter the impact of COVID-19 and ensure continuity of business during the lockdown by resorting to digitally-enabled services for sourcing, processing, and disbursing loans, the report added.
With user convenience at the cornerstone, technology is scaling up financial inclusion to the remotest corners of IndiaAlthough the balance sheet growth of urban co-operatives banks (UCBs) in 2020-21 was driven by deposits on the liabilities side, subdued credit growth prompted acceleration in investments on the assets side, the report said.HFCs (housing finance companies) also took several proactive steps to counter the impact of COVID-19 and ensure continuity of business during the lockdown by resorting to digitally-enabled services for sourcing, processing, and disbursing loans, the report added.
The Reserve Bank of India on Tuesday released the 2020-21 iteration of its report on ‘Trend and Progress of Banking in India’. Here are some of the highlights and some outlook for the sector.
The MFI lender has a pan India rural distribution network, offering micro-credit loans, home improvement, and MSME loans to individuals and small businesses.
The new policy also offers two variants - life stage cover and level cover. The life-stage cover offers a feature that auto adjusts the sum assured or life cover based on the life-stage of customers and enables customers to increase their life cover when it matters the most as responsibilities grow in the initial stages. Also, it automatically reduces the life cover as responsibilities come down in the later life stages.The new policy also offers two variants - life stage cover and level cover. The life-stage cover offers a feature that auto adjusts the sum assured or life cover based on the life-stage of customers and enables customers to increase their life cover when it matters the most as responsibilities grow in the initial stages. Also, it automatically reduces the life cover as responsibilities come down in the later life stages.
Allaying investors' concerns and calming speculations, the Reserve Bank of India on Monday issued a statement clarifying that the financial health of RBL Bank is stable. It further added that the private sector lender is well capitalised and that its financial position is satisfactory.Allaying investors' concerns and calming speculations, the Reserve Bank of India on Monday issued a statement clarifying that the financial health of RBL Bank is stable. It further added that the private sector lender is well capitalised and that its financial position is satisfactory.
While the nationwide lockdowns led to a sharp decline in the company's and its partners’ businesses, Eko embraced the digital route to acquire and retain users over its existing offline-only operations. The company quadrupled the volume of new transacting users in six months, exceeding the volumes of pre-covid offline acquisitions per month, it said in a statement.While the nationwide lockdowns led to a sharp decline in the company's and its partners’ businesses, Eko embraced the digital route to acquire and retain users over its existing offline-only operations. The company quadrupled the volume of new transacting users in six months, exceeding the volumes of pre-covid offline acquisitions per month, it said in a statement.
The court was hearing a plea by the lender challenging an order of the DRT, which had directed Yes Bank to maintain status quo with regard to enforcing its rights on the 44.53 crore shares of Dish TV India that are currently held by the bank.The court was hearing a plea by the lender challenging an order of the DRT, which had directed Yes Bank to maintain status quo with regard to enforcing its rights on the 44.53 crore shares of Dish TV India that are currently held by the bank.
The bad bank plans to recruit as many as 50 professional executives for the asset management company (AMC) — India Debt Resolution Company Ltd (IDRCL) — to begin with, said people familiar with the matter. The bad bank’s regulatory framework is being worked out.
Rajeev Ahuja, the bank's newly-appointed MD and CEO, told reporters the bank does not anticipate major capital needs in the short term, countering fears of problems in management.
Pursuant to the government's 4Rs strategy of Recognition, Resolution, Recapitalisation and Reforms, Non-Performing Assets (NPAs) of the banking sector have declined to Rs 8,35,051 crore as on March 31, 2021.
