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The Reserve Bank of India permits banks to offer different interest rates on deposits. These rates must be transparent and follow specific rules. This comes after allegations that HDFC Bank routed differential interest payments to a state agency through its marketing budget. HDFC Bank has denied these claims, stating its internal controls are strong. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/9Z7o21n via IFTTT

HDFC Bank is facing a barrage of governance allegations and panic. However, court relief and regulatory reassurances indicate no material adverse findings. Separate developments have been combined to create a perception of failure. Key facts counter this narrative, suggesting a deliberate effort to damage the bank's reputation. The bank remains systemically critical and financially sound. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/K0hRELb via IFTTT

A confidential PwC review of IndusInd Bank's treasury operations revealed significant accounting irregularities. Manual entries were used to mask over ₹2,200 crore in trading losses, inflating profits and assets by ₹1,817.58 crore. The report highlighted a disconnect between the bank's risk management and trading desks, leading to overstated financial figures. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/HKletGv via IFTTT

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

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

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