BANKING

With the market having expanded, evident in the definitive uptick in travel loans, the average loan value per person has dropped about a quarter to Rs 1.5 lakh per person. The average value has seen a reduction given the large increase of younger travellers availing of loans -- for both domestic and short-haul overseas destinations.

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BANKING

This is the probably last full review meeting before the presentation of Budget 2024-25 and general elections later next year. As per PTI sources, issues related to fraud and wilful defaulters and progress on the National Asset Reconstruction Company Ltd (NARCL) came up for discussion during the meeting.

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BANKING

RBI's assessment of notional losses in the HTM portfolio - which it started publishing recently - assumes significance in light of the collapse of the Silicon Valley Bank and a few other US-based lenders in March 2023, stressed by huge losses incurred on holdings of American bonds.

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BANKING

The RBI has warned that 34 NBFCs may face stress in extreme liquidity conditions if they face negative cumulative mismatch in liquidity over the next year. The top 50 NBFCs have seen a shift towards longer-term funding sources and a decrease in short-term borrowing, with 76% of bonds having a residual maturity of up to five years in September 2023.

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BANKING

Service outages have been plaguing all lenders globally. Earlier this year, Canadian bank Laurentian replaced its chief executive after an IT outage. The bank noted that the new management's immediate priority would be to address the impact of a mainframe outage that occurred last month during a planned IT maintenance update. Amid all this, the RBI has asked banks to explore setting up a 'service availability web page' or SEWA dashboard that will help customers compare different banking facilities offered by lenders.

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BANKING

The Reserve Bank of India (RBI) has raised concerns over high levels of gross non-performing assets (NPAs) in urban cooperative banks, despite improved profitability indicators. The RBI has called for further strengthening of governance standards and risk management practices, and for co-operative banks to adopt global best practices of supervision.

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BANKING

During 2022-23, Irdai said, life insurers issued 284.70 lakh new policies under individual business, out of which public sector insurers issued 204.29 lakh policies (71.75 per cent) and private life insurers issued 80.42 lakh policies (28.25 per cent).

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