YES BANK launches YES Grandeur – An exclusive banking programme for the elite and emerging affluent segments
YES BANK has announced the launch of YES Grandeur, an exclusive banking programme designed to address the unique financial and lifestyle needs of India’s fast-growing Emerging Affluent segment.

Have formed panel to choose my successor: Bandhan MD
Bandhan Bank has set up a committee to choose the successor to managing director and chief executive officer Chandra Shekhar Ghosh.

HDFC Bank raises USD 500 mn from IFC for on lending to women borrowers
HDFC Bank gets $500-million IFC funding for micro loans to women
The Financial Express

Bandhan Bank Q4 Results: Net profit slumps 93% YoY to Rs 55 crore

SBI jacks up short-term retail FD rates by 25-75 bps

Bank of Baroda sees departure of two key CXOs it hired from the market
Two top executives at Bank of Baroda, both lateral hires, have quit in quick succession and been replaced by internal officials, two people aware of the development said.

Aiming to lower cost-to-income to below 50%: Shyam Srinivasan, MD & CEO of Federal Bank
The RBI’s concern on Federal Bank’s co-branded credit cards isn’t a technology issue but an operational one and the bank is hopeful that in 2-3 months, it will get restarted, MD & CEO Shyam Srinivasan tells Piyush Shukla in an interaction. Srinivasan, whose tenure as MD ends in September this year, said the bank’s board is in advanced stages of discussions with the RBI on succession plans. Excerpts:

SBI deposit rate hike: Competition for mobilising deposits may intensify further
Mumbai: The competitive intensity among banks for mobilising deposits may intensify further, with State Bank of India (SBI) upping retail and bulk term deposit rates in the wake of deposit growth lagging credit growth and banking system liquidity continuing to face overall liquidity deficit.

Senior Citizen Fixed Deposits offering up to 9.1% return – Check full list
Fixed deposits (FDs) have long been a popular investment choice among Indians, especially senior citizens looking for stability and regular income. Senior Citizen FDs are specifically tailored to cater to the needs of this demographic, offering higher interest rates and other benefits.

PNB official allegedly embezzles nearly Rs 5 Crore from Bhopal-based infrastructure company: CBI FIR

Axis Bank to groom LGBTQIA+ talent for careers in banking

Public sector banks’ cumulative net profit rises 24% in Q4
Most Public Sector Banks (PSBs) reported healthy net profit in the fourth quarter, helped by strong loan growth and other income.

Latest SBI FD interest rates: State Bank of India hikes fixed deposit rates by up to 75 bps
SBI hikes FD rates by up to 75 basis points
The Financial Express

SBI increases deposit rates by 25-75 points

LIC officers got higher wage settlement than public sector bank peers: Union

SBI becomes trading-clearing member of IIBX at GIFT City
Ahmedabad: The State Bank of India (SBI) on Tuesday announced that it has secured the distinction of being the first bank to become a trading-cum-clearing (TCM) Member of India International Bullion Exchange at the GIFT City in Gujarat.  This milestone enables SBI IBU Gift City to conduct trades on the IIBX platform and settle them on behalf of its clients, per an official release. RBI guidelines permitted branches of an Indian Bank in GIFT IFSC to act as a trading member (TM)/trading and clearing member (TCM) of IIBX. The central bank also allowed special category clients (SCC) which are nominated banks in India to import gold through IIBX.

PSU banks' profit jumps over 4 times in 3 years to Rs 1.4 lakh crore in FY24
Public sector banks' total profit crosses ₹1.4 lakh crore in FY24
The Hindu Business Line

HDFC Bank says 6-7 pc of overall annual expenses are on tech
HDFC Bank’s tech spends at 5-7% of total expenses
The Financial Express

PSBs draw up action points to stem market share loss
Public sector banks (PSBs) plan to up their game in the competitive banking space by stepping up focus on women, youth and MSME customers; on-boarding TASCs (Trusts, Associations, autonomous bodies, Societies, Clubs) to mop up low-cost deposits; and introducing reward and motivation programmes for employees, among others.

Exim Bank to borrow ₹63,000 cr from domestic and overseas markets
The All India Financial Institution (AIFI), which facilitates trade and investment as India’s specialised export credit agency, had raised ₹60,000 crore (including ₹35,000 crore from domestic markets and ₹25,000 crore/$3.26 billion from overseas markets) in FY24, according to Harsha Bangari, Managing Director .

KVB posts 45% increase in net profit in FY24 on higher income and lower provisions
 

IOB may ask for another year to pare govt stake
Public sector lender Indian Overseas Bank (IOB) will likely approach the central government to extend by a year the deadline to lower its promoter stake in the bank to below 75%, MD & CEO Ajay Kumar Srivastava told FE.  

Banks had a blockbuster quarter. But don’t let that fool you
New Delhi: “One is never more on trial than in the moment of excessive good fortune." —Lew Wallace

FD interest up to 9.5%! Fixed deposit rates revised by these banks across tenors
Banks revise their interest rates on fixed deposits (FDs) or term deposits on a periodic basis for general customers and senior citizens. We will discuss in this article about the best FD rates being offered by 10 small finance banks in the country.

Bank of Baroda plans to double its total business to ₹48-lakh crore in 5 years
Bank of Baroda (BoB) is planning to add more heft to its balance sheet. India’s second largest public sector bank (PSB) is laying the groundwork to double its total business (deposits plus advances) to ₹48 lakh crore in five years. BoB’s total business stood at ₹24,17,464 crore as at March-end 2024. SBI, which is also a PSB (with Government being the majority owner), is the largest bank in the country with total business of ₹86,83,612 crore. Punjab National Bank and Canara Bank are the third and fourth largest PSBs, with total business of ₹23,53,038 crore and ₹22,72,968 crore, respectively.

PSBs to identify one 'champion sector' in their business plans

Tighter regulations on personal loans and project finance may hurt banks in FY25

Karur Vysya Bank Q4 standalone net profit rises 35% to ₹456 cr.

Exim posts 62% rise in profits, to raise over Rs 60,000 crore from local markets this year

83% of PSU bank stocks nearing oversold region: Anand James, Geojit Financial Services