BANKING

Reliance Industries has secured $3 billion in a loan deal from 11 banks. The five-year loan includes $450 million in yen and will be used to refinance loans due in 2025. Major banks involved include Bank of America, DBS Bank, and HSBC. More banks may participate in the syndication later this quarter.

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BANKING

Financial services secretary M Nagaraju launched a revamped 'Baanknet' portal aimed at streamlining property e-auctions from all public sector banks. This platform consolidates e-auction properties information from PSBs, providing a one-stop destination with automated payment gateways and KYC tools, making it simpler for buyers and investors.

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BANKING

The Reserve Bank of India has approved the merger of the National Co-operative Bank Ltd., Bangalore with Cosmos Co-operative Bank Limited, to take effect from January 6, 2025. Following this, branches of NCBL will operate as Cosmos branches. Previously, RBI imposed an Rs 8.30 lakh penalty on Cosmos for violating certain regulations.

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BANKING

Financial Services Secretary M Nagaraju launches revamped 'Baanknet' portal for e-auctions. The platform consolidates assets from PSBs, simplifying property discovery for buyers and investors. It features enhanced user experiences, integrated payment systems, and training for effective use, aiding PSB recovery and economic improvement.

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BANKING

Amit Ganorkar is the new managing director and CEO of TATA AIG General Insurance Company, starting January 1, 2025, succeeding Neelesh Garg. With over two decades of experience in general insurance, Ganorkar aims to strengthen customer focus, enhance digital transformation, and drive sustainable growth.

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BANKING

In December, the banking system liquidity slipped into deficit for the first time since June 2024. Despite easing the cash reserve ratio, the RBI managed call rates through variable rate repo auctions. System liquidity has been in deficit since mid-December, and interventions in the foreign exchange market are contributing to the pressure on liquidity.

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BANKING

Non-life insurers in India expect double-digit growth in 2025. Key drivers include a conducive regulatory environment and innovative products. Health insurance will likely continue leading, while segments like pet insurance, liability, and housing gain traction. Crucial factors are GST relief and updated motor third-party rates. Digital innovation will also play a significant role.

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BANKING

Gold loans in India have seen significant growth by September 2024 compared to the previous year, driven by increased reliance on gold as collateral. Despite this rise, the RBI has raised concerns about irregular practices among certain entities and issued guidelines to address these issues. NBFCs remain dominant in the gold loan segment, holding 59.9% of the market.

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BANKING

Indian banks are preparing for higher compliance costs, tighter margins, and tougher fee competition, potentially affecting 2025 earnings. Operational costs may stay high despite technology use. Banks face regulatory changes needing more provisions and resources. Well-capitalized banks with reduced bad loans offer some stability but cyber fraud threats persist. Enhanced regulatory oversight increases management focus on compliance impacts.

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BANKING

Bank lending across most sectors in November showed a slowdown, except for credit to industries. Vehicle loans and credit card outstanding exhibited a significant decrease in growth. However, loans against gold increased substantially. Overall non-food credit growth slowed to 11.8 percent, highlighting varying trends in different sectors.

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