The bank has hired several AML experts, reduced the pay of its senior team and changed its CEO, and is now going through a strategic review that will look for ways to reallocate capital, optimize costs, simplify its portfolio and invest in new technology that can support organic growth. The review is expected to be […]
Banks need to be given “stronger overview” on the lending practices followed by non-bank lenders who borrow from them, a senior official from SBI has said. Non-bank finance companies and microfinance institutions should follow the same risk underwriting and credit monitoring principles as followed by the larger banks from whom they borrow money, C S […]
Industry body IBA has invited bids from advisory firms and institutes to design and deliver a leadership development programme for public sector banks (PSBs) to prepare a pipeline of leaders in tune with the increasing competitive landscape. The selected entity will design and deliver the training programme for senior officers of PSBs, including chief general […]
The Reserve Bank of India (RBI) on Thursday doubled the limit on home loans issued by urban cooperative banks (UCB). With this, tier-I UCBs can issue individual housing loans of up to Rs 60 lakh while tier-II UCBs are allowed to offer loans of up to Rs 1.4 crore, the central bank said in a […]
The finance ministry on Monday advised public sector banks (PSBs) to continue to support economic growth by extending adequate credit to the industry even as it asked the PSBs to accelerate bad loan recovery, sources said. The meeting with chiefs of public-sector banks (PSBs) remained inconclusive as finance minister Nirmala Sitharaman could not attend the […]
‘Buy now pay later’ (BNPL) consumers in India are a younger set of borrowers who avail short-term credit. BNPL players account for a low share within the new-to-credit customer base, and delinquency rates are high. The companies are exploring various business models to establish economic viability with limited revenue drivers. In fact, BNPL will serve […]
India Inc’s dividend outgo hit a record Rs 3.3 trillion in FY22, translating into a payout ratio of 37.6%. The sharp rise in payouts was largely because state-owned banks resumed distributing dividends after a gap of six years and other CPSEs and top IT players too became more generous with payouts on improved profitability. Top […]
The Reserve Bank of India (RBI) has cleared the appointment of R Subramaniakumar as managing director and chief executive officer of RBL Bank for a period of three years, the lender said on Saturday. Subramaniakumar has earlier overseen the insolvency process of Dewan Housing Finance Corporation (DHFL) in his capacity as administrator. “Please note that […]
With an uptick in demand for project finance from late last year, bankers believe need for long-term funds should rise by anywhere between 12-15% this year. Bank credit deployed in the infrastructure segment rose 10.2% year-on-year in April 2022, with roads, telecommunications and power leading the pack. The outstanding credit to this space, towards the […]
The Securities and Exchange Board of India (India) announced on Wednesday that Ashwani Bhatia – former managing director at the State Bank of India (SBI) – had taken charge as a whole-time member (WTM) on Tuesday. For the last seven months, the regulator had operated with only two whole-time members, S K Mohanty and Anant […]