DEPOSITORS
RBI guv Sanjay Malhotra asks UCBs to remain operationally resilient
RBI Governor Sanjay Malhotra urged urban cooperative banks (UCBs) to strengthen resilience against IT and cyber risks during a meeting with UCB leaders. Acknowledging UCBs' role in financial inclusion, he emphasized the need for high customer service standards and operational stability.
Now HDFC Bank is also offering SCSS accounts with 8.2% interest: Check documents required, eligibility
HDFC Bank has begun accepting deposits under the Senior Citizens' Savings Scheme, offering an attractive 8.2% interest rate. This government-backed scheme provides stable income for retirees.
What's behind the fiasco at IndusInd Bank?
The dent in its books was caused by a September 2023 RBI communique spelling out how banks should value derivatives. It said all derivatives must be marked to market (MTM), which requires valuing assets and liabilities according to prevailing market price.
Absence of concurrent external audit a big gap at IndusInd Bank
The lack of an external concurrent audit on IndusInd Bank's MTM derivative losses has exposed a significant vulnerability in internal processes. This deficiency has led to a ?1,600 crore loss and raised concerns about the robustness of the bank's risk management systems and depositor confidence.
IndusInd Bank depositors! Here's RBI's opinion on the bank's financial state
The Reserve Bank of India has assured depositors of IndusInd Bank of its strong financial health and stability despite concerns about financial discrepancies. The bank is well-capitalized and maintains a high liquidity coverage ratio. An external audit is underway to rectify any issues.
IndusInd Bank shares surge nearly 6% after RBI’s reassurance to depositors
IndusInd Bank share price: IndusInd Bank shares spiked nearly 6% after the RBI confirmed the bank's solid financial position, including a CAR of 16.46% and an LCR of 113%. The bank is addressing accounting discrepancies in its derivatives portfolio, with remedial actions to be completed this quarter.
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NBFCs and Private Banks set to outperform, stay invested: Rahul Shah
If you look at the biggest gainer, the crude prices which has cooled off and inflation below sub-4, RBI's interventions what we have seen, so all these things are just getting a base for our markets to move up and as I said, it will be a stock pickers and the stock specific rather than the entire market selling into it.
Sensex climbs 500 pts tracking gains in banking stocks, Asian peers; Nifty above 22,500
On Monday, Indian benchmark indices Sensex and Nifty started the day on a positive note, fueled by gains in banking, financial, and auto stocks, following favorable signals from Asian markets after China introduced new measures to stimulate consumption.
IndusInd Bank stable, be wary of 'speculative reports,' says RBI
Reserve Bank of India has reassured the financial stability of IndusInd Bank, citing its solid capital adequacy and liquidity cover ratios. Despite recent discrepancies in derivatives accounting and a significant expected balance sheet impact, an external audit review is underway with results anticipated by the end of this month.
RBI reassures depositors, states IndusInd Bank's financial health remains stable
The Reserve Bank of India reassured depositors that IndusInd Bank remains well-capitalized and financially stable. The bank's Capital Adequacy Ratio stood at 16.46%, and its Liquidity Coverage Ratio was 113%, exceeding regulatory requirements. Recent accounting discrepancies are being addressed, with external audits and corrective actions underway. Depositors were urged to ignore speculative reports.
Nifty is down 14% from its highs! Here are 7 ways retail investors can manage liquidity in uncertain markets
Liquidity risk management is crucial for financial stability, especially in volatile markets. This article explores advanced techniques like stress testing and funding diversification to optimize liquidity strategies. Institutions must adapt to market conditions to ensure financial resilience and stability.
IndusInd issue puts the spotlight on India's banking sector
IndusInd Bank discovered discrepancies in account balances related to currency derivatives. This prompted an internal review and raised concerns about other banks having similar issues. The RBI is investigating. Despite improvements in asset quality and profitability, concerns remain over unsecured retail loans, slow deposit growth, and rising micro-lending stress.
New TDS rules from April 1: Higher limit for tax deduction on FD interest, lottery wins; check its impact
From April 1, 2025, the Union Budget 2025 introduces major TDS rule revisions, benefiting senior citizens with higher thresholds and similar benefits for general citizens, lottery winners, insurers, brokers, and investors in mutual funds and stocks. Check its impact
Rs 2,314 cr released to 12,97,111 depositors of Sahara Group of Cooperative Societies
The government has released Rs 2,314.20 crore to 12,97,111 Sahara Group depositors as of February 28, 2025, through a digital and paperless process. Refunds up to Rs 50,000 are being disbursed under the supervision of Justice R Subhash Reddy, with deficient applications resubmitted via a portal launched on November 15, 2023.
Indian banks continue to grapple with poor deposit growth
Indian banks are facing challenges in deposit mobilization, leading to a higher Loan-to-Deposit Ratio of nearly 126% as of February 2025. Despite lender programs, deposit growth remains sluggish, forcing banks to rely on alternative funding sources and intensifying competition for bulk deposits.
Bank loans continue to flow, deposits harder to come by
Indian banks are currently extending more loans than they are gathering deposits, with the incremental loan-to-deposit ratio reaching nearly 126%. This indicates a reliance on borrowed funds, as system-wide LDR hits its peak, leading to intensified competition for deposits particularly in low-cost CASA.
NSC vs bank FDs: Which is a better tax saving option?
NSC and tax-saving FDs both offer tax benefits and assured returns with a 5-year lock-in. NSC provides higher interest rates and tax advantages on reinvested interest.
New Zealand Reserve Bank Governor Adrian Orr resigns amid rift with government
Reserve Bank of New Zealand Governor Adrian Orr resigned unexpectedly after two years into his second term. Deputy Governor Christian Hawkesby will serve as acting governor until a replacement is found. The resignation occurred amid a bank funding review and tensions with the government over budget and policy issues.
Special FD interest rate up to 8.05%: Invest in these 5 special FDs before March 31, 2025
Several banks, including SBI, Indian Bank, and IDBI Bank, are offering special fixed deposit schemes with high-interest rates with deadlines in March Therefore, before the special FD deadline, investors should think about investing in these schemes if they want to get better returns.
RBI will have to cut CRR to ease banking liquidity; Mahakumbh leads to significant cash withdrawals: SBI Report
The Reserve Bank of India may need to cut the Cash Reserve Ratio to alleviate the current liquidity pressure in the banking sector, according to an SBI research report. The report suggests using CRR as a regulatory intervention tool rather than relying on it solely for liquidity. A CRR cut would help stabilize liquidity and ensure smoother financial operations.
Mumbai: ED conducts searches in Rs 4,500-cr worth investment 'fraud' case
The Enforcement Directorate conducted raids on Pancard Clubs Limited for allegedly duping over 50 lakh investors of Rs 4,500 crore through fraudulent investment schemes. Documents were seized relating to overseas assets and attempts to dispose of them. The case involves violations of SEBI and RBI norms, with charges under the Prevention of Money Laundering Act.
Betting on the revival of an underperforming sector
While recently reviewing my investments and exploring new equity opportunities in the current bear market, I came across news about the Reserve Bank of India (RBI) imposing restrictions on New India Cooperative Bank.
Now get home loan interest certificate for tax saving via DigiLocker for loans from this bank
Indian Overseas Bank allows customers to obtain their home loan interest certificates online through DigiLocker, simplifying the process of accessing important financial documents. Check step by step process to download home loan certificate.
Preity Zinta vs Congress: Actress fires back 'Shame on You' after Rs 18 crore loan allegations
Preity Zinta has denied allegations that a bank waived an Rs 18 crore loan in exchange for her supporting the BJP. She clarified that she repaid the loan over a decade ago and accused Kerala Congress of spreading false information. The Congress later responded, ready to accept any mistakes made.
Preity Zinta breaks silence on alleged Rs 18 crore loan from troubled New India Cooperative Bank: 'The account stands closed'
Preity Zinta denies allegations of benefiting from a written-off Rs 18 crore loan linked to New India Cooperative Bank, stating her account was settled over a decade ago. RBI steps in to manage the troubled bank, imposing restrictions and appointing an administrator.
ED secures court order to restore over Rs 3,300 crore assets to ponzi victims
The Enforcement Directorate has completed the restitution of assets worth Rs 3,339 crore to victims of the Agri Gold ponzi scheme. The assets include over 2,300 parcels of land and properties, which have been attached and their current market value is estimated to exceed Rs 6,000 crore.
RBI eases restrictions on New India Co-operative Bank; Deposit withdrawals up to Rs 25,000 now allowed
The Reserve Bank of India has relaxed restrictions on New India Co-operative Bank, allowing withdrawals up to Rs 25,000, effective February 27, 2025. This follows an assessment of the bank's liquidity position. Additionally, the bank’s General Manager was arrested for allegedly embezzling Rs 122 crore.
RBI weighs some relief for New India Co-op Bank depositors, sources say
The Reserve Bank of India plans to allow depositors of New India Co-operative Bank to make special withdrawals for emergencies, requiring proof for up to 500,000 rupees. The bank faces liquidity issues and heavy losses, with withdrawals currently barred. Over the weekend, depositors considered legal options to access their funds for urgent needs.
Another bank in trouble: Depositors of New India Co-operative Bank can not withdraw their deposits; what lies ahead for them
New India Co-operative Bank: Considering the bank's present liquidity position, the bank has been directed not to allow withdrawal of any amount from savings bank or current accounts or any other account of a depositor but is allowed to set off loans against deposits. Can Deposit Insurance and Credit Guarantee Corporation (DICGC) help?
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