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Working-capital demand from banks has increased significantly due to the ongoing conflict in West Asia. Higher raw-material costs and elongated shipping timelines have led to greater funding needs for corporates. Mid- and large-sized companies reported a 12-20% increase in working-capital requirements. Several private sector banks have recorded strong growth in corporate lending during the recent quarter. This momentum was driven primarily by working capital needs and refinancing efforts. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/6PS5XrO via IFTTT

The Union government announced in the 2021-22 budget that, besides IDBI Bank, it would take up two public sector banks and one general insurance company for privatisation. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/BJ9TDnI via IFTTT

Punjab National Bank has taken action by suspending twelve staff members linked to unauthorized fund transfers utilizing the branch manager's password. Evidence points to a female employee collaborating with external parties in these transactions. Current estimates of the losses indicate they are below Rs 10 crore, contradicting widespread claims online. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/saoU68V via IFTTT

India's banking sector exhibits confidence in achieving sustained double-digit credit growth across various segments. Demand for retail and SME lending is primarily driving this credit growth, according to the FICCI-IBA Bankers' Survey. Respondents show optimism about the emerging revival in private-sector capital expenditure and improved asset quality. A significant majority anticipates that both retail loans and SME credit will continue to grow robustly. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/wV2rZJi via IFTTT

Facing an anticipated Rs 200 crore dip in income from proposed cuts to insurance commissions, Bandhan Bank's managing director, Partha Pratim Sengupta, warns of potential ripple effects across the banking industry. To counter these challenges, the bank is set to reshape its business model and focus on enhancing mutual fund distribution. Moreover, its limited exposure to drought-impacted regions in Karnataka and Maharashtra helps mitigate overall financial risks. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/fGbPMKW via IFTTT

Geopolitical risks and supply-chain disruptions are major barriers to private sector capital expenditure growth. A survey indicates that banks anticipate over 9% growth in industrial credit in the coming months. Public sector banks exhibit greater concern over these risks compared to private and foreign banks. Key sectors expected to experience credit demand include infrastructure and auto components. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/g91NIdY via IFTTT