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Latest Banking News & Financial updates from around the web. Daily updates on Global Banking News, Financial Markets, Economy and News from the different banks.
Share of Fixed Deposits in Banks’ Total Deposits up at 60.3% in Dec 2023 – The share of term deposits in scheduled commercial banks (SCBs) total deposits increased to 60.3 per cent in December 2023 from 57.2 per cent in March 2023, according to RBI’s quarterly data. Rising return on term deposits (TDs) is driving […]
RBI Imposes Monetary Penalty on SBI & Other Banks – The Reserve Bank of India (RBI) has imposed monetary penalty on State Bank of India, Canara Bank, and City Union Bank for rule violations. The central bank imposed Rs 2 crore penalty on State Bank of India, Rs 32.30 lakh on Canara Bank, and Rs 66 […]
The current account savings account (CASA) deposit ratio of private sector banks dropped more than that of public sector banks (PSBs) in YOY due to a stronger demand for credit and an increased preference for term deposits by the depositors. The share of CASA deposits to total deposits of private sector banks contracted to 39.9 […]
CASA deposit drops for bigger pubic sector banks – The share of CASA deposits to total deposits of pubic sector banks contracted to 40.58% at the end of 31st Dec 2023 as compare to 42% in the year 31st Dec 2022. 6 out of 12 public sector banks are below the average of 40.58%. Bank […]
Union Bank of India to raise ₹3,000 crore via QIP : Union Bank of India’s “Committee of Directors for Raising Capital Funds” on Tuesday approved the raising of funds up to ₹3000 crore through issue of equity shares at a floor price of ₹ 142.78 per equity share to Qualified Institutional Buyers. This capital raising […]
Public Sector BOI, IOB, and UCO Bank Get New Chairmen – The Appointments Committee of the Cabinet (ACC) has appointed former LIC Chairman M R Kumar as part time non official Director as well as non-executive Chairman of Bank of India (BOI) He has been appointed as BOI Chairman for a term of three years. […]
The Indian Bank Association (IBA) and bank employee unions have agreed to the 12th bipartite salary hike settlement. This settlement will be in effect for the next five years, starting from November 1, 2022. As per the officially signed MOU, government bank employees will be receiving a 17% increase in salary with 3% load factor. […]
Public Sector UCO Bank stops IMPS service for customers due to some internal technical glitches. The popular instant money transfer facility IMPS (Immediate Payment Service) is now provided offline to customers by the bank. Earlier the bank had reported a technical issue in IMPS was observed due to which “certain transaction(s) initiated by holders of other […]
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