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HDFC Bank's board minutes reviewed, no concern on ethics and governance: RBI

The Reserve Bank of India has stated that HDFC Bank's board minutes and records are reviewed as part of its supervision. The central bank reiterated that no governance or conduct issues were found. RBI Governor Sanjay Malhotra confirmed no need to change existing rules. Deputy Governor Swaminathan J added that current events do not warrant regulatory tweaks. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/IwgvWsR via IFTTT
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No governance or conduct-related issues found, RBI Governor reiterates stance on HDFC Bank

The Reserve Bank of India has stated that its supervisory inspections of HDFC Bank revealed no governance or conduct issues. Governor Sanjay Malhotra confirmed this, noting that the RBI reviewed meeting minutes and found nothing of material concern. HDFC Bank is described as a systemically important bank with sound financials and a competent management team. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/DK40iIU via IFTTT
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New playbook for India's bank boards: RBI Guv Sanjay Malhotra reveals plan for revision of guidelines

The Reserve Bank of India is set to update bank board guidelines with an aim to shift board focus from daily operations to policy matters. Central bank Governor Sanjay Malhotra announced the plan at his policy meet address. The move, which follows recent issues at HDFC Bank, will allow boards to dedicate more time to strategic policy decisions. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/wAoFUlh via IFTTT
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Lenders' fields may yield less as collections wilt in summer

"Collections fell by about two percentage points last summer, and we expect a similar dip this year," said the head of a non-bank lender, who did not wish to be identified. "Field visits will reduce, and some customers may seek deferments as business activity slows. Collection should normalise once temperatures ease." from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/bKjeWUL via IFTTT
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Banks should shift exposures from vulnerable MSMEs, lay-off-exposed retail borrowers: EY

Banks must act on early risk signals amid the West Asia war. EY suggests shifting exposure from vulnerable small businesses and retail borrowers. This involves focusing on stronger sectors and resilient portfolios. Early intervention through covenant resetting and liquidity buffer enforcement is crucial. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Zn0S4o8 via IFTTT
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Centre may seek revised bids from two suitors for IDBI Bank

Government may seek revised financial bids for IDBI Bank. Original offers fell below the set reserve price. This strategic sale is crucial for government resources amid global uncertainty. The process is in the technical evaluation stage. Fairfax and Emirates NBD are potential buyers. The government and LIC aim to sell a significant stake. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/dKfumTr via IFTTT
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Supreme Court rules no personal hearing needed before declaring bank account as fraud

The Supreme Court has issued a pivotal directive concerning the classification of bank accounts as fraudulent, opting not to allow personal oral hearings for customers involved in such decisions. Nonetheless, institutions are mandated to provide access to forensic audit reports, fostering a new level of accountability. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/BuvSmwj via IFTTT
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