Ever since the 140 bps hike in benchmark repo rates, weighted average lending rates on outstanding loans have risen 29 basis points, but weighted average rates on outstanding deposits has gone up by only 19 bps, according to the latest data released by the Reserve Bank of India

Currently, Axis Bank and its two subsidiaries - Axis Capital Ltd and Axis Securities Ltd - collectively own 12.99 per cent of Max Life Insurance post approval of the deal in April last year. Under the deal, the Axis entities also have the right to acquire an additional stake of up to seven per cent in Max Life, in one or more tranches, subject to regulatory approvals.

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.

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.

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

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.

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.

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.

"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.