Banking sector News

As part of this recovery, private sector banks are showing impressive resilience in maintaining lending yields despite multiple repo rate cuts by the Reserve Bank of India (RBI). The report highlights that private banks have been able to raise their spreads on fresh loans -- helping them protect profitability in a low-rate environment.

S&P Global foresees loan growth slightly outpacing nominal GDP, particularly in the retail segment. However, deposit growth may lag, potentially impacting credit-to-deposit ratios.

As on September 30, Canara Bank’s gross non performing assets (GNPA) and net NPA stood at Rs 43,955.59 crore (Rs 52,485.14 crore) and Rs 12,554 crore (Rs 17,286.13 crore), respectively. The capital adequacy ratio stood at 16.20 per cent as at September 2023.

Private sector lender Lakshmi Vilas Bank was brought under moratorium on Tuesday (November 17) with immediate effect till December 16, 2020, thereby retaining all action and proceedings against that banking company during this period.

The meeting with the bankers will be held via video conferencing. Top bureaucrats as well as chiefs of NBFCs will also participate in the meeting. Modi will take stock of the financial situation of the banks, the liquidity situation of the banking sector, highly placed sources told Zee Media.

Union Finance Minister Nirmala Sitharaman has said that the Central government is making efforts to ensure better regulatory mechanism in the banking sector in the backdrop of PMC and IL&FS debt issues.

FM Sitharaman said that inflation is under control and there is a clear sign of revival of industrial production.

FM decided to take review and feedback meeting with MSME on Tuesday, Auto sector on Wednesday, followed by industry sector,  markets & finances and finally with real estate sectors.

The Cabinet Committee on Economic Affairs (CCEA) has approved the merger of state-run Vijaya Bank, Bank of Baroda and Dena Bank. This marks the first-ever three-way merger in the country's banking sector.

The State Bank of Pakistan (SBP) said the IT security system of a single bank, which it did not name, had been "compromised" on October 27 and it had already instructed all banks to increase their scrutiny.

There are 11 banks under PCA framework on account of their high bad loans.

The demand to hire seasoned professionals in senior management roles with experience of over 16 years saw 16% YoY growth. 

FICCI called state-run banks privatisation is in the interest of creating 'a dynamic banking sector' in India.

It is expected that the FM Jaitley will have a special focus on the banking sector in the Budget 2018-19.

The IDBI Bank employees went on two-day strike in October demanding revision of wages.

Jaitley, who is on a week-long visit to the US to attend the annual meetings of the International Monetary Fund and the World Bank, also said that reforming the banking system is the top agenda of the government.

According to Icra's Jitin Makkar, top 10 percentile of non-financial sectors entities downgraded accounted for around 50 per cent of the total debt downgrades in 2016-17.

Modi also called for sustained efforts to boost digital payments and work towards a less cash society.

The Reserve Bank has expanded the oversight committee by appointing three more members to the high-level panel that will vet the process to resolve mounting bad loans bogging down the banking sector.

Besides NPA resolution and bank finances, the meeting also featured the government's financial inclusion schemes.