“The board and the bank are fully committed to long term stakeholder value and the bank as an institution will do whatever it takes to ensure that,” Kotak said. “The commitment to long term institution building is at the core of our values and we will do whatever necessary to maintain that.”
The average fall in lending rates for banks such as Axis Bank, ICICI Bank, Federal Bank and DCB was about 22 basis points on fresh loans compared with RBI's 115 basis points reduction in the past year. A basis point is 0.01 percentage point. But the reduction of benchmark rates by state run banks such as the State Bank of India, Indian Overseas Bank was 120 basis points, data from the central bank shows.
Announcing the higher interest rate on savings account deposits of over Rs 1 lakh, Anubrata Biswas, CEO of Airtel Payments Bank, said, "RBI's increased savings deposit ceiling is a major milestone for payments banks as this was a key ask from customers".Announcing the higher interest rate on savings account deposits of over Rs 1 lakh, Anubrata Biswas, CEO of Airtel Payments Bank, said, "RBI's increased savings deposit ceiling is a major milestone for payments banks as this was a key ask from customers".
Among others, SBI has tied up with various hospitals for vaccination of its employees and their dependent family members. It will also bear the cost of inoculation.
While payment rejection rates were back to January levels, they are expected to rise further in May, lenders told ET. Collection ratios will be hit by another 5-10% in the month as fresh Covid-19 infections continue to ravage the country.