RESERVE BANK

SBI has requested the Reserve Bank of India for permission to conduct factoring business both within the bank and through its subsidiary, SBI Global Factors. SBI argues that the two entities serve different client bases, with the bank focusing on la...

RBI Governor Shaktikanta Das urged bank boards to proactively manage risks by monitoring portfolios, identifying over-concentration, and addressing potential vulnerabilities. He emphasised the need to strengthen internal governance to curb unethical...

RBI Deputy Governor Swaminathan J urged urban cooperative banks to embrace digitalization and strengthen cybersecurity, emphasizing the need for improved liquidation processes to safeguard depositors. He highlighted the importance of collaboration b...

The gap between credit and deposit growth is shrinking as both are seeing slower growth compared to last year. While credit growth is moderating due to factors like the HDFC merger and RBI measures, deposit growth is facing challenges from attractiv...

India's digital economy is booming, with fintech driving digital payments and e-markets expanding rapidly. Deputy Governor of Reserve Bank of India, Michael Debabrata Patra, stated that the digital economy currently makes up a tenth of India's GDP a...

The Reserve Bank of India has again designated SBI, HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks for 2024. This classification requires these banks to maintain higher capital reserves to ensure financial stability. SBI, categor...

The Reserve Bank of India has canceled the license of The Durga Co-operative Urban Bank, based in Vijayawada, due to inadequate capital and earning prospects. The bank will cease operations on November 12, 2024. Depositors will receive insurance cla...

DBS Bank India is set to have a new CEO. Rajat Verma, the current head of institutional banking, has been nominated for the role. Verma will replace Surojit Shome, who is retiring. Shome has been at the helm of DBS Bank India since 2015. The nominat...

State Bank of India (SBI) Chairman, CS Setty, told analysts that the bank has a 35-basis-point cushion on its lending rate, providing flexibility even if deposit rates increase. Despite potential RBI rate cuts impacting lending rates, Setty believes...

Despite tighter lending norms impacting unsecured credit disbursal, credit-fueled consumption in India has surged, particularly for smartphones, electronics, and white goods, driven by aggressive no-cost EMI offers and a growing credit card user bas...

The Reserve Bank of India (RBI) has fined South Indian Bank Rs 59.20 lakh for violating rules related to 'interest rate on deposits' and 'customer service'. The RBI found that the bank penalized some customers for not maintaining minimum balances wi...

Indian lenders are bracing for a surge in microfinance loan defaults after the central bank tightened lending rules. The Reserve Bank of India's move to halt the practice of issuing new loans to borrowers with existing debts is expected to trigger a...

India's shadow-banking sector is showing signs of stress six years after its last crisis. Major lenders like Bajaj Finance and Shriram Finance reported increased delinquencies on unsecured loans, leading to higher provisions and lower profits. The R...

The Indian government is seeking a new deputy governor for the Reserve Bank of India. Applications are due by November 30. The position will succeed Michael Patra, whose term ends in January. Candidates need 25 years of experience in relevant fields...

Banks in India have sought the Reserve Bank's approval for integration with its Centralised Information Management System (CIMS) to enable real-time tracking of limit utilisation under the Liberal Remittance Scheme (LRS). This integration aims to ex...

Banks have slowed down credit card issuances due to increasing defaults among customers. The Reserve Bank of India reported a significant decline in new card additions from August to September. Experts warn that this cautious approach may continue a...

Partha Pratim Sengupta has assumed the role of MD & CEO at Bandhan Bank, following RBI approval. With four decades of experience, his focus will be on stabilizing asset quality in the microfinance portfolio and consolidating retail lending. The bank...

In September, Indian banks saw a year-on-year loan growth of 14.4%, down from 15.3% in the same month last year, excluding HDFC Bank's merger impact. The Reserve Bank of India's measures to curb retail lending exuberance led to slower loan growth, e...

Banks in India have built high liquidity coverage ratio buffers anticipating stricter RBI norms. Most banks exceed the 100% LCR requirement, with private banks holding up to 136%. The new guidelines might reduce LCR by 7-10 percentage points, but pu...