"Considering the bank's present liquidity position, no amount from the total balance across all savings bank or current accounts or any other account of a depositor, may be allowed to be withdrawn, but are allowed to set off loans against deposits...," it said.
Officials in the government and the state-backed Life Insurance Corp. of India, which together own about 94% of IDBI Bank’s shares, are in talks about how much of their stakes they plan to sell, the people said. Both parties are expected to retain a stake in the lender after the sale, the people said, asking not to be identified as the information is confidential.
The Financial Services Institution Bureau (FSIB) has selected 14 candidates for the executive director (ED) post at the public sector banks, according to a notification issued by the bureau. The highest number of candidates were selected from the Bank of Baroda followed by Punjab National Bank.
Commercial banks net credit to the real estate sector witnessed 3.5 times growth during 2021, as compared to the pandemic period, shows the Reserve Bank of India's data on sectoral lending.
Triggered by aggressive rate hike by the US federal reserve on the back of roaring inflation led to the FII sell - off in Indian equity markets. Read to know more
The expansion of bank loans has consistently outpaced the expansion of bank deposits by a wide margin. Low base effect, small ticket size loans, higher working capital requirements due to elevated inflation, and a shift to bank borrowings on account of strong rates in the capital market have all contributed to the recent acceleration in credit growth. According to the Reserve Bank of India, bank credit has increased by more than 14% annually.
RBI extended the tokenisation deadline by three months starting July. This extended time period may be used to create public awareness about the process of creating tokens and in facilitating the stakeholders to be ready for handling such transactions.
As majority of the bonds in FY’2017 included a call option in the fifth-year, the issuances in FY’2022 were driven by the refinancing obligations of such issues, the ratings firm said. Net of new offerings and redemptions between April and July 2022, the AT-I bonds outstanding on July 31, 2022, were Rs. 1.02 lakh crore.
"Banks are not raising deposit rates, as they are able to get funds easily from money market by issuing CDs, and that too cheaply, and they may continue to opt for this route of fundraising for next few weeks," said Raju Sharma, head of fixed income at IDBI Mutual Fund.