Bank credit grows 6.18%, deposits 11%: RBI data
Rating agency Crisil in a recent report said bank credit growth is likely to nosedive to a multi-decadal low of 0-1 per cent in 2020-21 as economic activity is sharply impacted by the COVID-19 pandemic.
Surge in deposits to put pressure on banks’ net interest margins
NIM, or the differential between interest earned and spent, may narrow 10-15...
Equitas Small Finance Bank hikes interest on saving account deposits
In order to attract deposits, small finance lender Equitas Small Finance...
Bank credit grows 6.24 percent, deposits rise 11.28 percent
On a fortnightly basis, bank advances grew 0.3 per cent or Rs 32,022.49 crore to Rs 102.54 lakh crore in the week to June 5 as against Rs 102.22 lakh crore in the week ended May 22, 2020.
ICICI Bank cuts interest rate on saving deposits by 25 bps
The private sector lender has cut interest rate on all deposits of less than Rs 50 lakh to 3 per cent, a reduction of by 25 bps as against the existing 3.25 per cent.
PNB lowers rates on savings account deposits by 50 bps
Deposits of Rs 50 lakh and above will earn interest of 3.25 per cent as against 3.75 per cent currently.
RBI bars People's Co-operative Bank from granting fresh loans, accepting deposits for 6 months
The RBI also said no withdrawal of amount of a depositor will be allowed from the co-operative bank.
ICICI Bank reduces employee notice period from 90 days to 30 days
“We have received multiple requests from employees who have chosen to resign from services and faced difficulty in serving the 90 day notice period due to various constraints created by the current situation,” said the lender.
Banks in a spot post China logjam
Banks, which have issued letters of credit (LC) to finance Indian importers, have been told by leading courier companies that trade documents will not be delivered following delays in customs clearance in India, two senior bankers told ET.
WFH could ‘Uberise’ some bank jobs
SBI chairman Rajnish Kumar recently said in an interview that the bank was planning to move to a work-from-anywhere model rather than just work-from-home
Kotak Mahindra Bank slashes interest rate by 0.50 pc on savings deposits
It can be noted that deposit rates across the system are dipping due to a combination of an interest rate lowering by the Reserve Bank of India and also a lack of loan growth where the money can be deployed.
HDFC Bank jumps 4% as advances rise 21%, deposits 25%
The bank has managed to grow its loans by Rs 10,800 crore during the lockdown quarter
Axis Bank to wind down UK subsidiary
The lender has been reviewing its international strategy and as part of this, has adopted a clear objective to focus on the Indian banking market and harness the potential there, it said in a regulatory filing.
Low interest rate regime critical for survival of banks: KV Kamath
KV Kamath has pitched for a low interest regime, saying it is critical for survival of banks at this juncture.
Chinese banks go slow on large loans
Charge filings with the Ministry of Corporate Affairs, compiled by data intelligence provider Propstack, show that ICBC and CDB have not disbursed any large-ticket term loan in India since 2018.
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