Page 2 - Banks

Federal Bank's advances rise 10% to Rs 1.47 trn in FY22; deposits up 5%

The private sector lender's interbank deposits plunged by 62% to Rs 1,162 crore during the year ended March 2022, and the certificates of deposit fell by 59.3% to Rs 2,437 crore.

Regional rural banks may also be allowed to turn into SFBs: SBI Research

In fact, some of the large RRBs are bigger than the SFBs currently operating in the market

RBI extends timelines for banks to use lockable cassettes in ATMs by a year

The RBI decided to extend the timeline after it received representations from various banks and Indian Banks' Association expressing difficulties in meeting the timeline

Fintech has spread far and wide in India, banks need a counterattack

Banks aren't intuitively geared to handle the unique requirements of small businesses

Seven banks to disburse Rs 1,500 cr to complete stalled Amrapali projects

A consortium of seven banks will disburse Rs 1,500 crore loans to complete the construction of stalled projects of erstwhile Amrapali group, following a direction by the Supreme Court. The state-owned NBCC has undertaken the completion of many residential projects in Noida and Greater Noida under the aegis of Amrapali Stalled Projects and Investment Reconstruction Establishment (ASPIRE) and supervision of the Supreme Court. On March 28, the Supreme Court directed the Bank of Baroda-led consortium of seven banks to effectuate disbursal of Rs 1,500 crore by Tuesday for the construction of stalled real estate projects of Amrapali Group. In a statement, NBCC said that an agreement has been signed between ASPIRE and a consortium of seven public sector banks on March 29 for the disbursal of Rs 1,500 crore loan for stalled Amrapali projects. The seven banks in consortium are -- Bank of Baroda, Indian Bank, UCO Bank, Punjab National Bank, Bank of India, State Bank of India and Punjab & ...

Banking services partially impacted on second day of nationwide strike

Transactions at many public sector banks were impacted as employees did not report for duty

Indian banking in pink of health but what next?

Banks are caught in their own narrative: credit growth. Soon, one may see bubbles in certain pockets.

Paytm no longer using short-term working capital facilities from banks

After Q3FY22 earnings, the company had said that it is well-funded with net cash, cash equivalent and investable balance of Rs 10,215 crore

Banks to conduct special clearing ops on Mar 31 for govt accounts' closure

The Reserve Bank has issued directions to the banks for smooth clearing operation and asked them to participate in it

Banks should account for govt transactions for FY22 in same year: RBI

Transactions through national electronic funds transfer (NEFT) and real time gross settlement (RTGS) system will continue upto 2400 hours on March 31, 2022, RBI said

Banks share in industrial credit plunges to 34% in FY21, says report

The share of non-banks in the commercial credit has more than doubled to 44 per cent while that of foreign banks' rose to 22 per cent in FY21

To 'protect interest', banks to move DRT's Mumbai bench against Future

The lead bank of the consortium has to issue notice under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI).

Banks to start debt recovery proceedings against Future Retail: Report

Indian lenders are set to initiate debt recovery proceedings against Future Retail this week to safeguard their interests after rival Reliance unexpectedly took over some of the retailer's stores

Inflation, energy crisis, weak rupee may delay credit revival: Analysts

Revival of credit demand faces a triple whammy of unprecedented cost pressure, anemic volume growth, and scale-back in household budgets

What is IMPS?

Swift transfer of money between bank accounts has made all types of transactions smooth. Through IMPS, we can now transfer money within seconds. Let's get some clarity about this efficient platform

Strong recovery seen as bounce rates ease further in Feb; lowest in 32 mths

According to NACH data, the metric improved by 100 bps by value over Jan, to 22.4%. By volume, it stood at 29.2%, an improvement of 40 bps over Jan

50% customers ready to switch banks in next 12 months: Bain & Company

If it's a good deal, many willing to shift to fintech players, neo banks, among others

Banks may tag Amtek Auto as fraud account after MCA finds fund diversion

The Ministry sought to recover funds from former promoters by moving the Chandigarh bankruptcy court last month

Reserve Bank of India to take stock of banks' exposure to Russia, Ukraine

The move is intended to harm Russian president Vladimir Putin's ability to finance the war

Ruble declines 26% after SWIFT sanctions against Russian banks

The ruble was trading at a record low 105.27 per dollar, down from about $84 per dollar late Friday.