RBI said state-owned SBI along with private sector lenders ICICI Bank and HDFC Bank have been placed under the same bucketing structure as in the 2021 list of D-SIBs.
RBI said state-owned SBI along with private sector lenders ICICI Bank and HDFC Bank have been placed under the same bucketing structure as in the 2021 list of D-SIBs.
The Reserve Bank of India on Monday said that the State Bank of India, ICICI Bank, and HDFC Bank continue to be identified as Domestic Systemically Important Banks (D-SIBs). The RBI announced SBI and ICICI Bank as D-SIBs in 2015 and 2016 while HDFC Bank was added to the list as on March 31, 2017.
Public sector banks have outperformed private banks in the recent past. Banks also expect margin trajectory to remain robust, while an improving asset-quality resolution should provide further fuel to profitability.
Public sector Indian Overseas Bank has elevated Ajay Kumar Srivastava as its managing director and chief executive officer with effect from January 1, the bank said on Saturday. Prior to taking up the new role, Srivastava was serving the city-headquartered bank as its executive director.
Credit to industry continued to register a strong pick-up, with total loans accelerating to 13.1%, while personal loans expanded at 19.7% in November, largely driven by housing and vehicle loans.
Indian banking system's outstanding credit to the services sector jumped by 21.3% year-on-year in November as compared to 3.2% a year ago, data released by the Reserve Bank of India showed on Friday.
“While mid- & small-size NBFCs are majorly dependent on banks, banks also have selectively gained confidence in these NBFCs based on their performance during the pandemic and support shown by sponsors,†India Ratings said. “The agency expects the evolving funding ecosystem between banks and mid- & small-sized NBFCs is credit supportive.â€
"The government wants that banks proactively encourage traders to use this mechanism, and ensure their departments concerned are fully aware of the framework," said a senior executive of a bank who is aware of the development. According to the executive, banks have already had discussions with their counterparts from Russia, Cuba, Luxembourg, Sudan, and Tajikistan.
The Reserve Bank of India's push for priority sector lending is accelerating with the PSL Certificates trading gaining traction at more than Rs. 6 lakh crores. This opens up new vistas of credit for the rural households as well as MSMEs through NBFCs and Housing Finance Companies.