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Ashok Vaswani to step down as Kotak Mahindra Bank MD & CEO; bank begins search for successor

In a surprising announcement, Ashok Vaswani, CEO and Managing Director at Kotak Mahindra Bank, has decided to step down on December 31, 2026, opting not to pursue reappointment for personal reasons. The bank, recognized as India's fourth-largest private lender, is now actively seeking a new leader to chart its path ahead. This transition will undoubtedly redefine the bank's direction as it enters a new era. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/aYFCRGy via IFTTT
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HDFC Bank case: Ex-Chairman Atanu Chakraborty questions external legal review, calls it "superfluous"

Former HDFC Bank chairman Atanu Chakraborty has questioned the necessity of an external legal review into his resignation, stating the bank never clarified the investigation's scope or legal basis. He declined to participate, citing a lack of response to his requests for terms of reference. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/JkIAdB3 via IFTTT
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Banks' credit steady at 17.7%, deposits ease to 12%: RBI

Bank credit growth stayed steady at 17.7% for the fortnight ended June 15, unchanged from the previous period, while deposit growth eased slightly to 12%, RBI data showed. Both credit and deposit growth remain stronger than a year ago, when they stood at 9.6% and 10.4% respectively. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/UZz51tA via IFTTT
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PNB to focus on Retail, Agriculture, MSME advances, CASA deposits to boost profitability: MD Ashok Chandra

Punjab National Bank is set to prioritize retail, agriculture, and MSME lending, alongside boosting low-cost deposits to fuel growth. MD and CEO Ashok Chandra highlighted the bank's strong financial position and commitment to digital expansion and customer service. PNB aims to contribute to India's 'Viksit Bharat' vision by 2047, integrating ESG principles for responsible and sustainable development. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/yD7eKOU via IFTTT
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RBI opens term money market to AIFIs, housing finance companies

The Reserve Bank of India has opened the term money market to All India Financial Institutions and housing finance companies, allowing them to borrow and lend. Prudential borrowing limits for primary dealers have also been significantly increased. These moves aim to deepen market participation and improve liquidity, ultimately strengthening monetary policy transmission by linking short-term and long-term interest rates. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/xMFN1jY via IFTTT
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Axis Bank seeks shareholder nod to raise Rs 55,000 crore in FY27

Axis Bank is seeking shareholder approval to raise a substantial Rs 55,000 crore in FY27, comprising Rs 20,000 crore via equity and Rs 35,000 crore through debt. This move supports the bank's ongoing strategy to bolster its balance sheet by aggressively mobilizing deposits. The bank is focusing on acquiring new premium customers and deepening relationships with existing ones to drive growth and enhance customer value. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/rS8pFc5 via IFTTT
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RBI eases forex exposure rules, giving banks more room to trade

The Reserve Bank of India has updated foreign exchange exposure rules for banks. These changes simplify calculations by merging onshore and offshore positions and allow inclusion of overseas earnings. Crucially, banks can now exclude certain long-term foreign currency investments, potentially boosting trading capacity. Forex risk capital will be based on actual net open positions, with gold treated separately. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/zLgFcmt via IFTTT
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