A host of lenders, including State Bank of India, IDBI Bank, Indian Bank and Andhra Bank, have lined up meetings of their asset-liability committees this week, to review their lending and deposit rates.
Such minutes will be available within two weeks from the date of its confirmation in the next meeting of the central board and on being signed by the chairman in the same meeting, the RBI said in a statement on its website.
All categories of NRI deposits saw net inflows in July.
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
As liquid tightening measures were likely to be temporary, any change in lending rates would depend on the length of these measures, according to bankers.
The RBI, according to the source, wants details on the procedure followed for credit appraisal by the bank while giving loans to Videocon.
While the RBI's guidelines aim to streamline the loan closure process, borrowers must remain proactive.
The CBI, in its FIR, alleged that Mayaram, the UK-based company De La Rue International Ltd and unidentified officials of the finance ministry and RBI hatched a criminal conspiracy to extend undue favour to the firm.
A day after the Reserve Bank of India (RBI) lifted its ban on HDFC Bank on issuing new credit cards, the country's largest private sector lender on Wednesday said it had resources and plans in place to "further reinforce pole position in the credit card segment" and that it would "come back with a bang". "We will aggressively go to the market, with not just our existing suite of credit cards but also new offerings in the form of co-brands and partnerships," Sashidhar Jagdishan, managing director and chief executive officer of HDFC Bank, said in a letter to his employees. The bank's management had earlier indicated that the lender had been sourcing liability customers aggressively over the past few months.
Analysts say strengthening bank's capital will boost earnings, bank needs chief with long stint to run show
The bulk of an investor's portfolio should be in shorter-duration funds of up to one year portfolio duration.
All-out efforts are needed to mitigate the adverse impact of the Covid-19 pandemic, and the RBI will use any instrument necessary to revive growth and preserve financial stability, according to the minutes of the central bank's policy meeting.
Companies don't have to be in the field to nudge people to return money they owe lenders.
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A rule change may make Nachiket Mor, among others, eligible to replace Chakrabarty.
The meeting will be attended by all heads and EDs of public sector banks
'RBI was focusing on public sector banks perhaps thinking that private sector banks are managed efficiently while PSU banks are not.' 'Now, RBI has to focus on private sector banks too.'
Is the worst over for Indian banks? The past two years saw them ride on treasury trades as deposits soared and credit growth dipped sharply. Gross and net non-performing assets (NPAs) moved south, and the provision coverage ratio (PCR), capital buffers, and profitability indicators are back at pre-pandemic levels. So, what's the plot ahead?
The RBI wants to enforce more transparency in public sector banks. Manojit Saha The Apex bank wants the government t oreduce stakes in PSUs.
Banks are not allowed to lend to developers for purchasing land parcels.
As deputy governor, Patel headed the RBI panel to draft the monetary policy report, which became the basis of the ongoing reforms at the apex bank
The combined entity is set to be the third largest bank in India, behind State Bank of India and ICICI Bank.
"We will raise Rs 300 crore via bonds of two-, three- and five-year tenures. This will be our maiden bond issuance and is part of our effort to widen funding sources," says Vimal Bhandari, executive vice-chairman and chief executive officer (CEO), Arka Fincap. The firm, a subsidiary of Kirloskar Oil, is only five years old and small (assets of around Rs 5,000 crore with an "AA" rating), but the response to this float will be closely watched: It would be the first by a non-banking finance company (NBFC) after Mint Road upped the risk weights on bank exposures to them by 25 percentage points. The move by the Reserve Bank of India (RBI) has caught NBFCs off guard even though the issue had been flagged by Governor Shaktikanta Das with their corner-room occupants (and that of banks) in July and August 2023 - on consumer credit and the dependency on bank borrowings.
The festive season starts from August and last till December.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
Following are comments from economists at leading financial institutions, banks and rating agencies on the interim Budget:
Announcing the reduction in interest rate, SBI managing director and group executive (national banking) A Krishna Kumar said the base rate will also remain unchanged at 10 per cent.
The most preferred CoCo bonds are those through which banks raise their additional Tier-I capital.
Writes to shareholders highlighting its performance, governance practices.
The Reserve Bank of India (RBI) raised the minimum capital requirement for so-called shadow banks and tightened rules on deposits and bad loans to avoid any potential risk to the economy from these rapidly growing finance firms by regulating them like traditional banks.
Bankers said fear of loan losses impairing their careers could make officers wary of sanctioning new loan proposals on their own.
The head of India's largest private sector bank, who is in Davos in this Swiss Alpine resort town for the World Economic Forum Annual Meeting, said that the central bank has already in its last policy statement, indicated monetary policy easing in the fourth quarter of the current fiscal.
Banks might hold on to lending rates for the time being.
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
Puri earned a salary of Rs 7.39 crore in FY15, up 21.74% from last year
Friday's US data showed addition of 173,000 jobs in August.
Such cold-shoulder by banks also indicates a credit freeze that is hard to overcome, unless the government comes out with credit guarantee schemes for loans given by banks. Since that is not happening, and there is no indication of that too, banks are not willing to listen to RBI prodding.
Generally, the central bank grants its approval by mid-March, or latest by March 31, but most banks have not received RBI approval on bonus packages this year.
Members of the Monetary Policy Committee (MPC) felt that though the Indian economy was resilient in the third wave, it, however, lost some momentum and with inflation likely to soften, there is room to continue with the accommodative stance and support revival, the minutes of the MPC meeting released on Thursday revealed. The six-member MPC voted to keep the policy rate unchanged and continued with the accommodative stance at its meeting on February 10. However, external member Jayanth Verma voted against the stance because he felt a switch to neutral was long overdue and the current stance has become counterproductive and deflects focus away from addressing recessionary trends that date back to at least 2019.
DEA is currently headed on an interim basis by Corporate Affairs Secretary Tapan Ray
Some lenders in talks with LIC for pvt placement
