BANKING

The Reserve Bank of India announced measures to boost credit flow. The key repo rate remained unchanged. Banks will gain frameworks for corporate acquisition financing. Capital market lending limits will increase significantly. A 2016 framework for large borrowers was scrapped. Risk weights for infrastructure lending will reduce. Licensing for urban cooperative banks may resume soon.

from Banking/Finance-Industry-Economic Times https://ift.tt/O5aGK4d
via IFTTT

BANKING

Mitsubishi UFJ Financial Group (MUFG) is in advanced talks to acquire a 20% stake in Shriram Finance for ₹23,200 crore ($2.6 billion), potentially the largest FDI in an Indian NBFC. The investment would be via a primary issuance, with MUFG open to a larger stake over time. Shriram Finance, India’s second-largest NBFC, has ₹2.72 lakh crore AUM and a strong retail lending presence.

from Banking/Finance-Industry-Economic Times https://ift.tt/A7HS4Ch
via IFTTT

BANKING

Industry executives attributed the slowdown to relative reluctance among banks, especially those privately owned, to chase housing loans because of the pressure on margins due to reduction in interest rate, while borrowers are delaying purchases in anticipation of further easing of rates. The slowdown also partly reflects the base effect given last year's numbers had the lingering impact of the HDFC-HDFC Bank merger.

from Banking/Finance-Industry-Economic Times https://ift.tt/ZaHVWqu
via IFTTT

BANKING

RBL Bank has partnered with LIC to offer its customers a full range of life insurance products through the bank’s branches and digital channels. The collaboration leverages LIC’s 3,600+ branches and RBL’s 2,000+ touchpoints to expand insurance access nationwide, supporting the goal of 'Insurance for All by 2047'.

from Banking/Finance-Industry-Economic Times https://ift.tt/7SJVPkA
via IFTTT

BANKING

Vis Raghavan, an Indian-born banker, has dramatically revitalised Citigroup's investment banking division since joining in 2023. His intense leadership has driven significant fee increases and a surge in Citi's shares, positioning him as a key player and potential future CEO contender, despite some internal friction.

from Banking/Finance-Industry-Economic Times https://ift.tt/ZqDEIkx
via IFTTT

BANKING

The government has appointed Asheesh Pandey as MD and CEO of Union Bank of India and Kalyan Kumar as head of Central Bank of India for a period of three years. These appointments, approved by the Appointments Committee of the Cabinet, follow recommendations from the FSIB.

from Banking/Finance-Industry-Economic Times https://ift.tt/eVrAnCQ
via IFTTT

BANKING

Sidbi achieved an all-time high net profit of Rs 4,811 crore in FY25, marking a 19.5% increase, with its balance sheet surpassing Rs 5.6 lakh crore. The bank maintained excellent asset quality and approved a 20% dividend. Sidbi remains dedicated to bolstering the MSME sector through digital initiatives, green energy promotion, and expanding its branch network for wider credit access.

from Banking/Finance-Industry-Economic Times https://ift.tt/hsPYjoT
via IFTTT