India is not immune to global disruptions, so some slowdown in growth is inevitable, he said, adding, since India is a domestic, consumption-based economy, India is less dependent on the global economy compared to countries that rely heavily on exports.
In its 4-point statement, ICICI Bank categorically denies the data breach incident. Researchers tell ETCISO that although the leaked KYC data appears legitimate, it cannot be attributed to a lapse by the banking major.
The billionaire banker's transition from CEO was necessitated after central bank guidelines capped tenures for Indian business heads.
India's central bank has allowed either of HDFC or HDFC Bank to increase their ownership to more than 50% in HDFC Life and HDFC ERGO before their merger. The regulator has also asked HDFC Bank to comply with liquidity and reserves requirements without exception from the merger date. HDFC Bank's CFO said there are no guidelines on whether the stake increase has to be through funds infusion or share purchases from the market. HDFC Bank has been ramping up its investment book, which expanded 13.4% on-year to INR5.17tn ($68.84bn) as of 31 March 2022.
"Bank has also been examining options of installing Iris scanners at our BC/CSP (Bank Mitra) channels to address the challenges faced by our Senior Pensioners/ Customers," SBI said in a statement.
Union Bank of India customers can avail banking services in 7 different languages through UVConn by sending 'Hi' through WhatsApp on the Bank's number '09666606060' from their registered mobile number with the Bank, the state-owned lender said in a release.
"Our endeavour is to include every underserved household and small business under financial services. As we commence on our ambitious five-Year Vision plan of rapid expansion path to serve 20 million lives by 2027, we plan to enter Gujarat, Haryana and Maharashtra this year, besides expanding our footprint in Madhya Pradesh and Uttar Pradesh," said MD and CEO Manoj Nambiar .
HDFC Bank's request for an exception on cash reserve ratio (CRR) and statutory liquidity ratio (SLR) requirements has been refused by the Reserve Bank of India (RBI) ahead of its merger with mortgage financier parent HDFC. RBI has allowed HDFC Bank some leeways on the priority sector lending front, according to the bank. CRR and SLR requests have been turned down despite being exempt from non-bank lenders which HDFC Bank is classified.
The central bank has permitted the bank to meet priority sector lending requirements in a staggered fashion over three years, the bank said in an exchange notification.