India's economic growth is expected to be lower at 6.3 per cent this fiscal compared to the RBI's projection of 6.5 per cent, a SBI Research Report said on Thursday. The report pegged the first quarter GDP estimate at around 6.8-7 per cent, mainly due to muted private capex.
Alloting more funds for MNREGA and PM-KISAN could wipe out the entire additional money that the Centre may have for FY25.
Your promise to protect bankers for their commercial decisions is a huge confidence booster, but how does one define a commercial decision? Are our investigative agencies well equipped to dissect lending decisions of bankers?
The government on Monday accepted the recommendation of the A K Khandelwal committee and the Indian Banks Association has agreed to a common recruitment programme for public sector banks that would be conducted by the Institute of Banking Personnel Selection.
Microsoft sources said about 52 per cent of computers in banks, 30 per cent in government offices, 26 per cent in manufacturing companies and 26 per cent in software firms are running on Windows XP.
Amid strong opposition from CIL workers union to the proposed stake sale in the company, Finance Minister P Chidambaram has said the disinvestment proceeds of about Rs 20,000 crore (Rs 200 billion) from the coal behemoth will be invested in public sector banks.
'Growth, liquidity and deposit mobilisation are likely to be discussed during the interaction.'
The staff of public sector banks had gone on a nationwide strike for two days beginning February 10 after discussions with the IBA failed.
Norms governing investments by provident funds bar these from depositing funds in a commercial bank in case the NPAs of that bank exceed two per cent of net advances.
Finance Minister Nirmala Sitharaman on Tuesday asked fintech firms to focus on risk management at a time when criminals are using AI to mimic voices, clone identities and create lifelike videos to manipulate people.
It is also considering to hike FDI cap for public sector from 20 per cent to 49 per cent
Markets regulator Sebi has proposed introducing a single window access for low risk foreign investors seeking to participate in the Indian securities market, a move aimed at simplifying compliance and enhancing the country's attractiveness as an investment destination.
'The Insolvency and Bankruptcy Code is neither beneficial to banks nor helpful for the borrower.' 'Genuine people who are caught in economic stagnation will lose everything and thousands will lose jobs.'
Diversified business conglomerate Mahindra and Mahindra (M&M) has picked up a 3.53 per cent stake in private sector lender RBL Bank for Rs. 417 crore. "We may consider further investment, subject to pricing, regulatory approvals, and required procedures. However, in no circumstance will it exceed 9.9 per cent," M&M said in an exchange notification on Wednesday. Shares of RBL Bank jumped 7.1 per cent to settle at Rs. 238.8 apiece on the BSE on Wednesday, close to their 52-week high of Rs. 242.1.
The gross NPAs of some public sector banks, including State Bank of India and Punjab National Bank have crossed 4 per cent of the total assets at the end of March, 2013.
Public sector banks (PSBs) have proposed the Finance Ministry their plan to raise Rs 54,800 crore through Additional Tier-1 (AT-1) and Tier-2 bonds in the current financial year (FY25), 37 per cent more than the Rs 39,880 crore raised in FY24
Addressing the 74th Annual General Meeting of the Indian Banks' Association (IBA), she said the industry needs to imagine how Indian banking has to be in the immediate and long-term future. As far as the long-term future is concerned, she said it is going to be largely driven by digitised processes and there is a need for seamless and interconnected digital systems for a sustainable future for the Indian banking industry.
With demand for information-technology (IT) services in North America still sluggish, Europe has become a source of optimism for Indian companies because it is delivering steady gains over the past two years and continuing to outperform in the latest quarter. Yet analysts caution a full-scale revival will require a rebound in the United States (US), particularly in manufacturing, retail, and BFSI (banking, financial services, and insurance), because Europe contributes only about a third of the revenues.
Gross NPAs of public and private sector banks stood at Rs 2.41 lakh crore and 26,571 crore respectively.
Zero-coupon bonds don't give out interest but are issued at a deep discount to the face value, making it difficult to ascertain the net present value.
'One has to be very mindful because it will be applicable for big tech platforms and even for banks and insurers, whose business is completely different.'
'Maharashtrians are facing a dual battle -- numerical battle with North Indians and financial battle with Gujaratis and Marwaris.' 'This has created anxiety about survival and ownership over Mumbai and Maharashtra.'
Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday said the central bank has developed an innovative artificial intelligence and machine learning (AI/ML) based model MuleHunter.ai to address the growing issue of mule bank accounts that are often used for committing financial fraud. Developed by the Reserve Bank Innovation Hub, the new initiative is piloted with two public sector banks.
A section of the public sector banking employees will go on two-day all-India strike from Wednesday to protest against financial sector reforms and outsourcing of jobs.
The more things change, the more they remain the same for corporate India. In the April-June 2025 period (Q1FY26) - for the ninth consecutive quarter - listed companies witnessed only single-digit revenue growth, while their core earnings, excluding other income and one-time gains, contracted for the second time in four quarters. This comes as firms brace for the impact of 50 per cent US tariff on Indian goods.
The size of Reserve Bank's balance sheet increased by 11.08 per cent to Rs 70.47 lakh crore as on March 2024, leading to the highest-ever dividend payout to the government, according to the central bank's annual report. In actual terms, the increase was Rs 7,02,946.97 crore over Rs 63.45 lakh crore as on March 2023.
The current process for selecting auditors could compromise their "independence".
What connects P S Jayakumar of Bank of Baroda, V Vaidyanathan of Capital First Ltd and Chandra Shekhar Ghosh of Bandhan?
Corporation Bank is the biggest beneficiary of this round of capital infusion with Rs 9,086 crore of funding, followed by Allahabad Bank with Rs 6,896 crore.
Banks have written off bad loans worth Rs 10,09,511 crore during the last five financial years, finance minister Nirmala Sitharaman informed Parliament on Tuesday. The non-performing assets (NPAs), including those in respect of which full provisioning has been made on completion of four years, are removed from the balance sheet of the bank concerned by way of write-off, she said in a reply to Rajya Sabha. "Banks write off NPAs as part of their regular exercise to clean up their balance sheet, avail tax benefit and optimise capital, in accordance with RBI guidelines and policy approved by their boards.
A peek into the life of a public-sector banker who did well professionally, but paid a price for it, points out Tamal Bandyopadhyay.
India's economic growth prospects should remain strong over the medium term, with GDP expanding 6-7.1 per cent annually in fiscal years 2024-2026, S&P Global Ratings said on Thursday. In a report titled 'Global Banks Country-By-Country Outlook 2024', S&P said the banking sector's weak loans will decline to 3-3.5 per cent of gross advances by March 31, 2025, on the back of structural improvement, including healthy corporate balance sheets, tighter underwriting standards and improved risk-management practices. Interest rates in India are unlikely to rise materially, and this should limit the risk for the banking industry, it added.
A few state-owned banks such as IDBI Bank, Union Bank, Indian Overseas Bank have announced results for FY14.
S&P Global Ratings on Tuesday said the Indian economy is set for "resilient growth" in 2025 and projected inflation pressure to recede which will lead to "modest" easing of the monetary policy by the RBI. In its India outlook for 2025, S&P also retained India's growth forecast for current fiscal at 6.8 per cent, followed by 6.9 per cent growth in 2025-26.
Their net NPA as a proportion of net advances were 2.2 per cent, compared with 1.7 per during the same period a year earlier.
'Listing of scaled Indian subsidiaries of multinational corporations as well as of Indian conglomerates continues to remain a key theme for IPOs in India.'
Moody's Investors Service on Thursday said loans to retail customers, especially those to low-income borrowers, will remain most affected due to the shock caused by the coronavirus pandemic. Despite the pandemic challenges, asset quality at Indian banks has performed better than expected at the start of the outbreak, Moody's said. "Corporate loans, in particular, have performed well because banks prior to the pandemic had largely provisioned for legacy problem loans and tightened underwriting standards," Moody's vice president and senior credit officer Srikanth Vadlamani said. Addressing an online conference organised by Moody's and its affiliate Icra, Vadlamani said an increase in non-performing loans in both public and private sector banks is subdued.
