Bankers News

To press for early finalisation of wage revision in banks.

Insurance behemoth LIC will soon obtain services of retired bankers to strengthen its lending operations and ensure that NPAs are kept at the minimum.

Banking industry captains on Saturday welcomed Urjit R. Patel as Raghuram Rajan`s successor at the Reserve Bank of India (RBI).

Reserve Bank Governor Raghuram Rajan on Tuesday said there is a need to shift loan sanctioning process from the present committee-based approach to single banker taking up the responsibility as well as rewarding the person if the project goes on well.  

Ruling out any immediate transmission of rates despite RBI chief Raghuram Rajan blaming them of passing benefits "only modestly", bankers on Tuesday said interest rates will fall once credit growth picks up.

Public and private sector bank employees have decided to observe a day-long strike on July 29 to oppose the "anti-people" banking reform policies of the Centre, AIBEA said Wednesday.  

Bankers may have a low credibility for having "cried wolf too often", RBI Governor Raghuram Rajan said even as he appeared favouring their case for easing of strict capital control measures to boost growth.  

Suggestion regarding enhancing limit to Rs 2.5 lakh or Rs 3 lakh under section 80C were made apart from proposal to bring down lock-in period on tax free fixed deposits to one year from 5 years.

Since January 2015, the RBI has cut policy rates by a cumulative 125 basis points (bps), while banks have cut one-year deposit rates by an average 130 bps and lending by 50 bps, which includes the base rate cuts in the last one week.  

Bankers on Monday urged Finance Minister Arun Jaitely to release on time the commissions paid to them for Direct Benefit Transfer (DBT) transactions.

Bankers on Thursday said the sharp fall in inflation to 3.78 percent for July has raised hopes of another rate cut by the Reserve Bank at the September review of the policy.

Most bankers and experts believe that the possibility of an interest rate cut by the Reserve Bank on August 4 is very low as retail inflation remains high.

Money raised in global equity capital markets rose in the first half of the year to top USD 500 billion, but bankers` fees fell as secondary share sales supplanted lucrative stock market listings as the dominant deals.

A day ahead of a meeting between Finance Minister Arun Jaitley and top bankers, private sector lender Yes Bank on Thursday joined its peers in promising to deliver a rate cut soon.

Industry and bankers are hopeful of a rate cut as the government has also been able to rein in fiscal deficit within 4 per cent of GDP in 2014-15 providing room for easing of monetary policy.

The Finance Ministry has initiated the process of identifying persons like retired bureaucrats and bankers who could be appointed as non-executive chairmen of various public sector banks.

Concerned over the rising number of loan default cases, the Reserve Bank on Monday warned lenders against outsourcing their credit processing activities to third-party entities.

After RBI's second surprise rate cut in as many months, bankers on Wednesday hinted at lowering lending rates, but stressed monetary policy gets transmitted with a lag.

Chinese construction machinery makers are opening banks, designing tractors and abandoning core business deals in an effort to diversify and stay profitable as China`s sputtering economy brings a sustained downturn to a once-booming market.

The bank said it is being probed by tax authorities in many other countries as well with regard to alleged irregularities by its Swiss banking unit and there could be "significant" amounts of fines, penalties and/or forfeitures imposed on it.