BANKING

Indian banks are seeing a slowdown in loan growth as they prioritize attracting deposits to improve their liquidity. The loan-to-deposit ratio has dropped to its lowest point in 30 months, but regulators remain cautious. Banks are expected to focus on attracting more deposits, even if it means higher interest rates and potential pressure on profits.

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BANKING

Alliance Insurance Brokers, after 21 years in business, is expanding. The company will offer services in new sectors like aquaculture and renewable energy. It will also provide insurance for loans and purchases through partnerships with banks. Alliance Insurance Brokers currently operates in 14 cities in India and works with clients in 14 countries.

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BANKING

Banks in India have sought the Reserve Bank's approval for integration with its Centralised Information Management System (CIMS) to enable real-time tracking of limit utilisation under the Liberal Remittance Scheme (LRS). This integration aims to expedite the inclusion of international credit card spending under LRS regulations and ensure seamless tax remittance.

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BANKING

Ujjivan Small Finance Bank aims to secure a universal banking license by March 2025. The bank is focusing on building a diverse business mix and strengthening its secured loan portfolio. Efforts include expanding product lines and improving digital and IT infrastructure to address RBI requirements.

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BANKING

Canara Bank plans to recover Rs 6,000 crore from bad loans in the second half of the fiscal year. The bank expects Rs 3,000 crore in recovery for both the third and fourth quarter. Additionally, it anticipates the IPO of Canara Robeco Asset Management Company to happen in the fourth quarter.

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BANKING

Banks have slowed down credit card issuances due to increasing defaults among customers. The Reserve Bank of India reported a significant decline in new card additions from August to September. Experts warn that this cautious approach may continue as lenders are wary of rising delinquencies and new regulatory measures affecting unsecured loans.

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BANKING

Partha Pratim Sengupta has assumed the role of MD & CEO at Bandhan Bank, following RBI approval. With four decades of experience, his focus will be on stabilizing asset quality in the microfinance portfolio and consolidating retail lending. The bank's recent quarter saw a hike in non-performing assets due to increased microfinance sector stress.

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