Banking News

Industry

Borrowers are paying the price for banks chasing deposit growth

Deposit rate hikes have outpaced increases in lending rates, as deposit growth continues to lag credit growth. The weighted average lending rate on fresh rupee loans by 153 bps from 7.86% to 9.39%. In contrast, the weighted average deposit rate on fresh term deposits by 226 bps from 4.21% to 6.47%.

3 min read19 Jul 2024
Markets

Banking sector’s wishlist for Union Budget 2024: Key expectations outlined by 4 top experts

Industry experts emphasise the need for divestment of government stakes in banks, tax parity for mutual funds, measures to promote digitalisation, and support for green financing in the upcoming Union Budget.

3 min read18 Jul 2024
Industry

Bank Holiday on July 16: Are banks closed today for Harela? Check details here

Bank Holiday on July 16: Indian banks will have at least 12 of non-working days in July 2024, including Sundays and second Saturdays’ weekend offs, religious holidays and regional festivals.

2 min read16 Jul 2024
Industry

Alert HDFC Bank users! Accounts will be unavailable for nearly 14 hours today on July 13. Check what is impacted

Alert HDFC Bank users! Your bank accounts will be unavailable for nearly 14 hours today due to system upgrade on July 13. Check here to see what all is impacted — from UPI transactions to ATM withdrawals.

1 min read13 Jul 2024
Industry

Bank Holiday on July 13: Are banks closed today for second Saturday? Check details here

Bank Holiday on July 13: Indian banks will have at least 12 of non-working days in July 2024, including Sundays and second Saturdays’ weekend offs, religious holidays and regional festivals.

1 min read13 Jul 2024
Industry

Banks, at least, are making money from a turbulent world

It is once again a good time to work on a trading desk

3 min read12 Jul 2024
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Companies

India’s highest-paid bankers are from non-banks. And RBI can’t do much about it—yet.

Chiefs of non-banking financial companies are among the highest-paid in India’s lending sector, trumping even the bosses of the country’s largest banks. But even among those non-banks, the highest earner turned out to be a surprise.

6 min read11 Jul 2024
Industry

Indian regulators push self-policing to avert system crash

Experts believe regulators are taking this approach because the growth in trained manpower to detect and tackle defiance has not kept pace with rising regulatory challenges.

4 min read9 Jul 2024
Companies

Four years since Yes Bank’s rescue, RBI greenlights an exit plan for its saviours

RBI’s approval for up to a 51% stake sale in Yes Bank opens an exit for SBI, LIC and others owning stakes in the private lender that survived a near-death experience four years ago.The stake sale may value Yes Bank at around $10 billion, making for the largest acquisition in India’s banking sector.

5 min read9 Jul 2024
Markets

China’s Central Bank to Add Temporary Repos Depending on Market Conditions

The People’s Bank of China will carry out temporary bond repurchase or reverse repurchase operations depending on the market situation during working days between 4:00 p.m. and 4:20 p.m.

1 min read8 Jul 2024
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Budget

The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared

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