The Reserve Bank sold a net of $3.7 billion in the spot market and $18 billion in the forward market in June according to the latest data released by the Reserve Bank of India.

State-run banks are proposing to create a central talent pool and finalise a three-year business strategy for individual banks, aiming to improve their performance and competitiveness. In April, after the PSB Manthan conclave, the government asked PSBs to set up a three-year roadmap for their business strategy and suggested that they explore more collaboration among themselves, with larger banks sharing best practices with smaller ones and guiding them in areas where they need expertise.

The company said the tie-up will further strengthen its digital leadership position and is part of an effort to make banking more inclusive and accessible to its growing consumer base.

Central Bank of India reported a 14.2 per cent rise in net profit to Rs 234.78 crore in the first quarter ended June this fiscal as compared to Rs 205.58 crore in the same quarter a year ago.

They said the ruling could deflate an already delayed process under the Insolvency and Bankruptcy Code (IBC) and will most likely be used by unscrupulous promoters to argue against the admission of cases, potentially denting the potency of the dedicated recovery mechanism.

"During Covid, there was some slow down in growth because we had tightened the criteria. We didn't want to take more risks. Now, as we see things opening up, credit demand is picking up. Customers, particularly large corporates, are shifting to banks for their credit requirement, as opposed to other forms of borrowing."

"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.

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.

Axis Bank first said in 2020 that it will be winding down its UK operations. Currently, the bank's international strategy is to focus on Indian corporates that have global operations, it said in an investor presentation in the results of the quarter ended June.