Indian Banks News

A 50 bps increase in the repo rate leads to a 1.11 per cent rise in Net Interest Income (NII) across SCBs, with PSBs showing a sharper 1.45 per cent gain, it noted.

The survey further highlights that Indian Digital Champions have outperformed their global peers across most journey steps, with India’s overall DBM Index exceeding the global average index by 20 pp.  

The bank's gross advances increased by 12 per cent to Rs 5.40 lakh crore in the April-June quarter compared to Rs 4.8 lakh crore in the same quarter last year.  

Indian Banks will be closed on Thursday on the occasion of Bhaidooj, Chiragupt Jayanti and Ningol Chakkouba. Banks will be closed to the public for 10 days next month in November. The four holidays will be on November 1, November 8, November 11 and November 23.

IBA has accordingly advised banks to restrict working hours between 10 am to 2 pm. Banks have implemented shorter banking hours on the advice of the IBA.

Banks will remain closed for three consecutive days from March 27-29. Bank services on March 31 will remain suspended.

After the news of money withdrawal from mutual funds, RBI arranged 50 thousand crore for mutual fund companies. Watch this video to know more.

Among bank groups, PSBs, which constitute largest market share in bank lending, have accounted for the bulk of frauds reported in 2018-19.

Banks are reluctant to cut deposit rates in the fiscal year`s last quarter, as they are keen to shore up their books while not losing hefty deposits.

In the wake of strikes and holidays, the banks will remain closed from next Friday to Wednesday, except Monday and the banking services could adversely be affected on these days.

According to the statement, the credit rating assigned to these bonds is "CRISIL AAA/Stable" and "CARE AAA".

Jaitley said that the formalisation of the Indian economy through the Insolvency and Bankruptcy Code (IBC), GST, demonetisation and Digital Payments have enabled better assessment of financial capacity and risks.

Banks will continue with credit costs or provisions of up to 3 percent for both the ongoing fiscal as well as the one after, according to the rating agency.

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

The fallen business tycoon Vijay Mallya is separately also fighting extradition to India on fraud and money laundering charges worth an estimated Rs 9,000 crores. 

The bank employees across the country will observe a nation-wide strike for two days starting May 30 in order to protest against low hike offered by the management body. Indian Banks' Association (IBA) offered the employees 'a meagre' two per cent increment. This led them to raise their voice demanding the government's intervention in wage revision.

In a report titled 'India's Banks Are Bracing For Weak Fiscal 2018 Results', S&P on Thursday said it believes that at a system level the ratio of stressed assets is realistically around 13-15 percent, compared with 12.3 percent in the first half of fiscal 2018. 

The Finance Ministry would soon announce contours of the recapitalisation bonds and the amount to be front loaded during the current fiscal.

Earlier this week, state-run SBI Life Insurance (SBI Life) completed its initial public offer (IPO) issue, while the privately-run ICICI Lombard did the same last week.

Weak capital positions have a major negative influence on the banks' viability ratings which will come under more pressure if the problem is not addressed, it added.