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Goldman Sachs India global centre chief Gunjan Samtani to retire by end of 2026

Gunjan Samtani, co-chairman of Goldman Sachs India and head of its India global center, will retire by year-end after 16 years. Ken Castelino and Balaji Sivasubramanian have been appointed as co-heads to succeed him, overseeing the bank's tech and operations center in India. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/49CuTNU via IFTTT
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Central Bank of India targets over Rs 3,500 crore bad-loan recovery in FY27

Central Bank of India plans significant recovery from bad loans exceeding Rs 3,500 crore in FY27. The bank will also introduce wealth management and credit card services in the latter half of the current fiscal year. Development of cash management services for corporate clients is also underway. These initiatives aim to boost the bank's financial performance and non-interest income. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/XAOYzok via IFTTT
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MPC's repo rate pause will help stabilise growth: SBI chairman

State Bank of India Chairman CS Setty anticipates a Reserve Bank of India interest rate pause to foster stable growth. He highlighted India's future economic expansion depends on boosting entrepreneurship, improving market access, and investing in its large young population. Banks must scale up financing for infrastructure, manufacturing, and green initiatives to meet ambitious targets. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/7KwguN5 via IFTTT
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China out, India in? The Japanese begin a quiet but powerful pivot

Japanese banks are increasingly shifting their Asia strategy from China to India and Southeast Asia as slowing growth, rising costs and geopolitical risks reduce China's appeal. Over the past five years, Japanese regional banks have cut their branch presence in China by about 20%, while lending by Japan's three megabanks in the country has fallen by as much as 40%. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/1Y8p3TX via IFTTT
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Banks flag bad loans, rising fraud in SHGs

Banks are flagging increased fraud and loan defaults within self-help groups. To combat this, lenders are suggesting mandatory unique registration numbers for groups and their members. A central registry for cross-verification is also proposed. This aims to improve transparency and track loan exposures effectively. The government is already monitoring SHG-bank linkages. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/5kDsGJB via IFTTT
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Nearly two-thirds of bank loans now priced below 9% as rate cuts bite

Indian banks are offering more loans at lower interest rates. Almost two-thirds of all bank credit now has rates below 9%. This shift follows a year of aggressive rate cuts. While credit growth is strong, banks' profit margins face pressure. Metropolitan areas and public sector banks lead lending. Agriculture and industrial credit also accelerated. Personal loan growth moderated. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/oEZ3tF0 via IFTTT
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UPI transactions soar to record of Rs 29.9 lakh crores in May

Unified Payments Interface transactions reached record highs in May. Summer travel and the IPL fueled this surge. Value and volume of transactions saw significant growth. This indicates strong organic demand and a maturing digital payment ecosystem. Future growth is expected from credit-on-UPI and cross-border transactions. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/12jaS0T via IFTTT
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