Bank strike disrupts PSB operations across states, digital services normal
The strike affected over-the-counter services, cash transactions, and cheque clearances. The impact, however, varied significantly across geographies. While things were largely normal in Mumbai, disruption was reported in Madhya Pradesh, Goa, Telangana, Kolkata and Uttar Pradesh, particularly in Tier-III and Tier-IV cities, bankers said. However, the union said in Mumbai more than 5,000 employees and […]
Bank strike disrupts PSB operations across states, digital services normal
The strike affected over-the-counter services, cash transactions, and cheque clearances. The impact, however, varied significantly across geographies. While things were largely normal in Mumbai, disruption was reported in Madhya Pradesh, Goa, Telangana, Kolkata and Uttar Pradesh, particularly in Tier-III and Tier-IV cities, bankers said. However, the union said in Mumbai more than 5,000 employees and […]
RBI bites the durable liquidity bullet with ₹1 trillion bond sales
The move comes after the central bank’s second attempt to mop up liquidity via longer tenure variable rate reverse repo (VRRR) auction met with a muted response. The net liquidity in the banking system was in a surplus of ₹10.43 trillion on Thursday, latest data by the RBI showed, the core liquidity is estimated […]
IBBI wants debt resolution professionals to guard against IBC abuse
In the last two months, the disciplinary committee of the Insolvency and Bankruptcy Board of India (IBBI) either cancelled or suspended the registrations of nine insolvency professionals for violating their code of conduct and failing in oversight. On July 3, the committee disqualified an insolvency professional for orchestrating a systemic misuse of the insolvency […]
FM asks PSBs to target youth with simple, personalised 24×7 banking service
The minister said banks could offer free online learning content in collaboration with reputed educational platforms and institutions, using learning and skill development as an avenue to engage youth and bring them into the formal banking fold. She suggested that banks should complement their propositions with lifestyle-linked benefits, including coupons/vouchers for fitness centres, yoga centres […]
RBI’s August 31 deadline nears: Private banks step up FCNR(B) push
Other mid-sized private banks may follow suit and revise their FCNR (B) rates to mobilise as much as possible before the window closes. HDFC Bank, the country’s largest private sector lender, and ICICI Bank, the second-largest, continue to offer 6.25 per cent on these deposits. State Bank of India (SBI) offers 6 per cent on […]
RBI’s swap window: Indian lenders’ bond rush nets over $3 bn in 10 days
Indian banks are rapidly raising funds from international markets through US dollar-denominated bonds, with over $10 billion expected to be raised so far—a record high. Along with major lenders, first-time issuers such as Kotak Mahindra Bank and IDFC First Bank have also entered the overseas bond market to benefit from the RBI’s concessional swap facility, […]
HDFC Bank taps dollar bond market again, eyes $1 bn overseas debt raise
Last week, the Reserve Bank of India (RBI) decided to close its discounted dollar-rupee swap facility for banks ahead of schedule. The scheme, introduced in June to help banks hedge non-resident deposits at a lower cost, is expected to bring nearly $80 billion in foreign currency inflows, according to RBI Governor Sanjay Malhotra. Taking advantage […]
India sees sharp expansion in retail, MSME credit access since 2021
Over the last five years, India has witnessed a significant increase in access to formal credit, with strong growth in both the retail and MSME sectors. In the retail segment, the number of people with a credit bureau record increased from 45.5 crore in 2021 to 78.9 crore in 2026, while active borrowers grew from […]
Banks seek more from ATMs as non-cash services remain largely unused
The staid automated teller machine (ATM) can be used for nearly ten different kind of transactions, yet the bulk of its usage is for cash withdrawal and deposits. The ATM may have become a part of urban, semi-urban, and even some rural landscapes, but its utilisation is far below what it can do, ultimately […]