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AI to reshape banking, governance must evolve to curb cyber risk: BCG's Hardik Shah

Artificial intelligence is set to reshape India's banking sector over the next decade, but banks, regulators and the government will need to strengthen governance, cybersecurity capabilities and shared infrastructure to ensure responsible and secure adoption of the technology, said Hardik Shah, Managing Director and Partner at Boston Consulting Group (BCG). from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/hoOGcga via IFTTT
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SBI uses AI to underwrite nearly Rs 1 lakh crore in MSME loans in FY26

State Bank of India underwrote nearly one lakh crore rupees in MSME loans using artificial intelligence. AI is also automating the processing of cheques up to ten thousand rupees. This technology frees up relationship managers' time for other important tasks. The bank deploys AI across the customer lifecycle for various functions. Benefits include improved customer satisfaction and employee efficiency. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/htiYNuS via IFTTT
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RBI proposes a leverage ratio of 3.5% for ‘important’ global banks

The Reserve Bank of India has proposed new leverage ratio requirements for banks. Globally systemic important banks will face a minimum 3.5% ratio plus a buffer. Domestic systemically important banks will continue with their 4% ratio mandate. Other commercial banks will maintain the existing 3.5% leverage ratio. These proposals align with the Basel Committee on Banking Supervision's framework. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/LeYpgaZ via IFTTT
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AI in banking must move beyond retail to farms, MSMEs: SBI Chairman Setty

In a recent statement, CS Setty, Chairman of the State Bank of India, underscored AI's transformative potential for the Indian banking sector. He asserted that widening credit opportunities for small businesses and farmers through AI is essential to realize India's ambition of a developed economy by 2047. Additionally, AI could refine farm-level decision-making and risk management, as banks strive to enhance defenses against advancing cybersecurity threats. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/TBLx2Hl via IFTTT
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Lenders seek RBI approval to spread their MTM losses

Indian banks have sought RBI approval to spread mark-to-market losses on investment portfolios across the remaining three quarters, citing bond-market volatility triggered by the West Asia crisis. Rising government bond yields have weighed sharply on banks’ treasury income. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/DbHtWGn via IFTTT
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HDFC Bank cuts MCLR by 5 bps, Bank of Baroda raises 3-month rate by 10 bps

HDFC Bank reduced its lending rates by five basis points across maturities. Bank of Baroda will increase its three-month lending rate by ten basis points. HDFC's new rates became effective from August seventh for various tenors. Bank of Baroda's revised rate will take effect from August twelfth. The banks are adjusting their marginal cost of funds based lending rates. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Lh1Fn5N via IFTTT
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Global banks are pulling back credit cards once prized by rich Indians

Several offshore banks are becoming reluctant to issue or renew international credit cards for wealthy resident Indians due to India’s 180-day rule on deploying overseas funds. The requirement is also creating difficulties for minors holding foreign accounts under the Liberalised Remittance Scheme. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/jbZq5Ra via IFTTT
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