Page 4 - Banking

Libor, the most important number in international finance, dies at 52

The interest benchmark once underpinned more than $300 trn in financial contracts but was undone after a year long market-rigging scandal came to light

Covid-19 pandemic: Omicron spread may disrupt growth momentum, says IBA

Impact may not be severe as first, second waves

CSB Bank MD&CEO retires early, lender to set up panel to find successor

CSB Bank on Saturday said its managing director and chief executive C VR Rajendran has decided for an early retirement on health grounds, and the lender will set up a committee to find a successor. This is to inform you that the bank's board in its meeting held on January 8, 2022, considered and accepted the request of C VR Rajendran to take an early retirement from the position, to take care of his health under the advice of his physicians, CSB Bank said in a regulatory filing. The board has further requested Rajendran to continue in the office of MD & CEO till March 31, 2022, it said. Rajendran has been holding the position of MD & CEO since December 9, 2016 and the current term is up to December 8, 2022. "The board further decided to constitute a search committee comprising the chairperson of the Nomination and Remuneration Committee and two members of the board, to identify and evaluate candidates, from within or from outside, for the position of Managing Director & ...

RBI approves Anup Bagchi's re-appointment as ICICI Bank Executive Director

The shareholders of the bank at its Annual General Meeting in August last year had approved Bagchi's re-appointment for five years effective February 1, 2022

RBL Bank's gross advances rise 5% to Rs 59,941 crore by Dec-end

The private sector lender had gross advances amounting to Rs 57,092 crore by the corresponding period a year ago

Bandhan Bank collection efficiency ratio increases to 93 pc in December

Loans and advances grew 11 per cent y-o-y to Rs 89,213 crore as on December 31

Large, mid-sized banks report 11-23% loan growth in December quarter

Commercial banks in India as a group posted 7.3 per cent year-on-year growth till the middle of December 2021

RBI cancels authorisation certificates of two payment system operators

Both the Payment System Operators (PSOs) had authorisation for issuance and operation of prepaid payment instruments

SBI, ICICI, HDFC Bank continue to remain systemically important banks: RBI

Such banks are perceived as 'too big to fail'

CSB Bank advances up nearly 11.5% to Rs 14,827 cr in Dec quarter

Shares of CSB Bank on Monday closed at Rs 237.50 apiece on the BSE, up 0.93 per cent from the previous close

West End Housing applies for small finance bank licence with RBI

Currently, there are about a dozen small finance banks in the country

Ujjivan Small Finance Bank raises interest rates on FDs of up to Rs 2 cr

The new rates come into effect from December 31, 2021

LIBOR transition: SBI says ready to embrace new alternatives

The bank said it will spread awareness about the transition among customers and extensive client groups through curated knowledge sharing sessions

RBL Bank depositors protected, unanswered questions remain: AIBEA

'Section 45 of the Banking Regulation Act gives the depositors the necessary protection'

J&K Bank board appoints Baldev Prakash MD & CEO for three years

Jammu & Kashmir Bank on Tuesday said its board of directors has appointed Baldev Prakash as the MD & CEO for three years. The board of directors in the meeting held on December 28 has appointed Baldev Prakash as Managing Director & Chief Executive Officer of the bank for a period of three years, J&K Bank said in a regulatory filing. His appointment will be effective from the actual date of his taking charge, the bank said. The board also appointed R K Chhibber as an additional director on the board of the bank to be effective from the date Baldev Prakash takes charge as MD&CEO of the bank, it said further. In October this year, the RBI had approved the appointment of Prakash as the next MD&CEO of J&K Bank. His appointment was slated from the date of taking charge or April 10, 2022, whichever earlier. Prakash has over 30 years of experience in banking in various roles at small and large size branches at SBI. He had joined SBI as a probationary officer in ...

Indian banks must bolster capital and augment credit flow, says report

Due to the pandemic, credit growth of commercial banks had been subdued in 2020/21 but non-banking finance companies filled up the space, RBI said

Banks need to strengthen corporate governance, says RBI report

The Reserve Bank emphasised it will endeavour to ensure a safe, sound and competitive financial system through its regulatory and supervisory initiatives

RBI releases report on trend and progress of banking in India: Highlights

Return on assets of SCBs improved from 0.2 per cent at end-March 2020 to 0.7 per cent at end-March 2021, aided by stable income and decline in expenditure, states the report

ED seizes Rs 293 cr worth shares of ex-Tamilnad Mercantile Bank chairman

The seized assets are in the form of shareholdings of Muthu alias MGM Maran in four Indian companies

HDFC Bank ties up with IPPB to serve semi-urban, rural areas

About 90 per cent of IPPB customers reside in rural areas