Canara Bank Q1 net profit rises marginally to ₹4,856 cr; eyes $1.3 billion via FCNR deposits
State-owned Canara Bank on Monday posted a 2 per cent improvement in net profit to Rs 4,856 crore during the first quarter of the current financial year, and said it aims to garner USD 1.3 billion in deposits from overseas Indians. The Bengaluru-based bank had earned a net profit of Rs 4,752 crore in the […]
Bank of India’s USD 1.2 bn FCNR(B) mobilisation to replace up to Rs 13,000 crore ..
Bank of India plans to mobilize $1.2 billion through FCNR(B) deposits by September as part of its strategy to strengthen its funding base. The move aims to reduce reliance on high-cost bulk deposits and improve the bank’s overall cost of funds. FCNR(B) deposits, sourced from NRIs in foreign currencies, provide a more stable and cost-effective […]
Will CKYC 2.0 become the UPI moment for financial onboarding?
The statement refers to CKYC 2.0 (Central KYC system), which aims to stop customers from submitting the same identity and address documents again and again when dealing with different financial institutions. What problem it solves: Right now, when you: Open a bank account Take a loan Invest in mutual funds You often have to submit […]
Bank of Baroda’s FCNR(B) inflows to replace Rs 18,000 crore of bulk deposits, says MD Debadatta Chand
Bank of Baroda is planning to replace around ₹17,000–18,000 crore of bulk deposits with FCNR(B) deposits, which are funds deposited by NRIs in foreign currencies like USD. Why the bank is doing this: Bulk deposits (from corporates/institutions) are usually costly and short-term FCNR(B) deposits are more stable and can be cheaper, especially with RBI support […]
CreditAccess Grameen Q1 net profit jumps 5-fold to Rs 493 cr
CreditAccess Grameen reported nearly a five-fold jump in net profit, reaching Rs 493 crore. This strong performance was supported by better loan repayments and improved asset quality. Pre-provision operating profit increased by 34 percent, driven by a 22 percent rise in income. Meanwhile, credit costs saw a sharp decline of 63 percent year-on-year. Assets under […]
More banks may join overseas bond run
CICI Bank’s $1 billion bond issuance through GIFT City, which witnessed strong interest from global investors and resulted in reduced borrowing costs, is likely to encourage more Indian banks to access overseas debt markets under the RBI’s subsidised hedging scheme. economictimes https://economictimes.indiatimes.com/industry/banking/finance/banking/more-banks-may-join-overseas-bond-run/articleshow/132614342.cms
Private bank attrition eases in FY26 amid digitisation-led workforce cuts
Private sector banks like ICICI Bank, Axis Bank, and Kotak Mahindra Bank are seeing fewer employees leaving their jobs (this is called attrition). 🔍 Why is attrition decreasing? Banks are using more technology and digital systems Work is becoming more efficient Because of this, banks don’t need as many employees as before So instead of […]
RBI policy transmission lowers fresh loan rates faster in FY26
The Reserve Bank of India (RBI) adopted an accommodative monetary policy stance during late FY25 and FY26, along with multiple rate cuts. This resulted in a broad-based reduction in lending rates across various sectors, according to a report by CareEdge Ratings. The report highlights that the impact of these rate cuts was more noticeable in […]
Primus, HDFC Capital to set up Rs 2,000 crore senior living platform
Primus Senior Living and HDFC Capital are coming together to launch a large investment initiative worth ₹2,000 crore to develop senior living housing projects in India. Detailed Explanation: Who is involved?Primus Senior Living (a company that builds and manages homes for elderly people) and HDFC Capital (the real estate investment arm of HDFC Group). What […]
Banking system liquidity falls to over 3-week low as credit growth picks up
Banking system liquidity dropped to its lowest level in over three weeks due to a rise in credit demand, according to recent data from the Reserve Bank of India (RBI). The net liquidity surplus stood at ₹2,884 crore on Wednesday, the lowest since June 29, when the system had a deficit of ₹13,077 crore, as […]