All Banking & Crypto Related Details

SBI chairman CS Setty expects higher interest rates to moderate credit demand in rate-sensitive sectors, particularly discretionary spending. The bank forecasts another 50 basis points repo rate hike in December, followed by a pause. Setty said he sees no system-level concerns over retail asset quality, though highly leveraged households may face pressure. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/zUr7vAL via IFTTT

Uday Kotak has described India’s $130-billion-plus FCNR(B) mobilisation as a “strong insurance policy” against global shocks, but warned that repayments including interest could reach $160-170 billion over the next three to five years. He said the buffer gives India time to strengthen its economy, but should not substitute for structural reforms, investment in technology and efforts to improve domestic competitiveness. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/gah09iQ via IFTTT

Long-term capital-gains tax is a big factor on the equity side. On direct investment, the trade agreements are going to be a big positive. Trade agreements create potentially important UK-India and EU-India corridors. We have been doing a lot of work identifying companies that could benefit and engage with clients. For Citi, that opportunity can flow through services and markets and potentially through investment-banking transactions as multinational companies raise capital in India, says K Balasubramanian, CEO, Citibank India. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Iem6Yb7 via IFTTT

Banks have approached the International Financial Services Centres Authority regarding sustainable lending targets for international banking units. The request stems from a significant rise in Foreign Currency Non-Resident deposits at GIFT City. These deposits have surged following the Reserve Bank of India's swap facility introduced in June. It is expected that the IFSCA may provide similar exemptions as the RBI has done before. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/2qeCNDB via IFTTT

Prime Minister Narendra Modi inaugurated the Reserve Bank of India's new data centre and Cybersecurity Training Institute in Bhubaneswar. He emphasized the importance of protecting India's banking system from potential cyber threats. Modi noted that India's banking sector has become more efficient and accessible to the masses since 2014. He underscored the government's efforts to provide formal banking services to previously disadvantaged groups. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/wSJaMj3 via IFTTT

Emerging sectors like AI, semiconductors, and defence are attracting significant investments while bank lending is limited. The financing patterns vary, with AI and space primarily funded through equity. Risks such as technology obsolescence and payment delays impact the lending sector significantly. Banks are encouraged to develop specialized financing strategies to support these sectors effectively. Over the next few years, demand is expected to shift towards storage and defence-related investments. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/NbM54hK via IFTTT

Punjab National Bank is focusing on bringing its cost-to-income ratio below 50 percent in the current financial year. The bank aims to further decrease it to around 45 percent by 2028-29. In the first half of the current fiscal year, the cost-to-income ratio was 50.38 percent, reflecting a decline from previous levels. The bank's net profit has reached Rs 5,500 crore, with targets for continued growth ahead. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/9LZx45n via IFTTT