All Banking & Crypto Related Details

Deposit growth is currently outpacing credit expansion. Although a policy rate cut is expected in the second half of the fiscal year, bank deposit rates are likely to stay high for now. This is due to the slow pace of deposit mobilisation and the need for capital to fund private capital expenditure, which is on the rise. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/pPyo24I via IFTTT

Despite an incomplete transmission of the 220 basis points hike in the benchmark repo rate, the Reserve Bank of India data for August shows mixed trends: marginal easing in weighted average deposit rates, slight rise in lending rates, and an increase in the weighted average domestic term deposit rate. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/p1enEqA via IFTTT

Indian banks anticipate a high single-digit growth in festive period credit card spending due to subdued consumer demand. Last year, credit card spends during October to December reached nearly ₹4.87 lakh crore, a 30% increase from the previous year. However, sticky inflation and risks over unsecured loan growth could lead to cautious spending this year. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ip2EUqe via IFTTT

Banks in Mumbai are facing challenges with identifying ultimate beneficial owners (UBOs) of foreign investments due to varying disclosure rules across countries. This issue has been discussed among senior bankers, who believe India's anti-money laundering laws should adapt to different international standards to ensure compliance and transparency. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/8fa3uED via IFTTT

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Credit and debit cards offering discounts on travel, experiences, and lifestyle are gaining popularity among affluent and young customers. Banks like Bank of Baroda, HDFC Bank, and HSBC are partnering with travel companies to provide exclusive offers. The trend is driven by rising demand for unique experiences and live events. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/gKuFvmM via IFTTT

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Bank of America has placed two bankers in India on administrative leave amid an internal investigation following a whistleblower complaint. The complaint alleges that the bankers tipped off certain investors about upcoming secondary offerings, allowing them to profit from non-public information. The investigation focuses on a $200-million stock sale for Sun Life in March. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/jXQwtsV via IFTTT

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Data from TransUnion CIBIL indicates an improvement in credit culture, with the share of prime-rated borrowers rising to 55% by June 2024. However, retail credit growth has moderated as banks and NBFCs tighten credit supply. Home loans and credit cards saw significant contractions, while personal loans grew modestly. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/EPmHnz0 via IFTTT

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PTCs are issued across three tranches- with series A1 having an issue size of Rs 3,500 crore and maturing in 24 months, series A2 of Rs 1,800 crore and maturing in 34 months and series A3 of Rs 3762 crore for 60 months. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Tfqj6ZE via IFTTT

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Challa Sreenivasulu Setty, the new chairman of State Bank of India, is aiming to leverage the bank's extensive network and brand to attract more deposits while managing risks in infrastructure financing. He emphasises technology, customer service, and cyber security as key priorities to enhance productivity and maintain consistent performance. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/2wEq5ut via IFTTT

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AU Small Finance Bank and United India Insurance Company have announced a strategic partnership to offer general insurance solutions to the bank's customers. This collaboration aims to provide reliable and affordable insurance options across various categories, leveraging UIIC's extensive network and AU SFB's expanding infrastructure, covering 21 states and 4 union territories. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/8fpjWqK via IFTTT

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Banks in India are offering higher interest rates on deposits to attract savers, with more than two-thirds of deposits earning 7% or above by June 2024. This shift is driven by the need to meet rising credit demand, which continues to outpace deposit growth. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/bJIWY8i via IFTTT

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PNB Housing Finance, backed by Carlyle, aims to grow its affordable loan book to ₹15,000 crore by FY27. Currently, the affordable housing sector contributes ₹2,500 crore. The lender plans to shift focus to high-yielding segments and expects its overall loan book to grow by 18% in the next three years. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/gOScAG0 via IFTTT

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