Impacted by asset quality woes, state-run Punjab National Bank on Friday said it will focus on lending to better-rated corporates for credit growth.
The recently announced Rs 7,575 crore capital infusion by the government will help push credit growth, SBI said on Friday.
Unfazed by nation-wide public sector bank strike, SBI chief Arundhati Bhattacharya on Friday said the merger of 5 associate banks and Bhartiya Mahila Bank with the state-owned lender should be over by next March.
Three of Ireland's former bank executives were sentenced to between two and three-and-a-half years in prison on charges they conspired to defraud investors.
Services at around 80,000 bank branches in the country were hit on Friday as employees of public sector banks went on a one-day strike to protest proposed merger of SBI associates with the parent and other issues.
A nation-wide bank strike in India hit the public transactions like cheque clearances and cash deposits, but the vital treasury operations including a Rs 15,000 crore ($2.24 billion) government bond auction are unlikely to be affected, traders said.
Banking operations will be impacted across the country on Friday with around 10 lakh bankers of 40 private and state-run banks striking work in protest against the central government's banking policies, a union leader said on Thursday.
In one of the largest bancassurance partnerships since life insurance policy sale by banks was liberalised, industry behemoth LIC and third largest private sector lender Axis Bank on Thursday entered into a tie-up to sell the former's products.
RBI has imposed Rs 1 crore penalty on UCO Bank for flouting its instructions relating to opening of current accounts and providing bill discounting facilities to account holders without any borrowing facility with the bank resulting in "siphoning off of funds".
There is a huge unmet demand for credit among small enterprises and NBFCs are cashing in on this as their distribution reach remains unmatched by banks in areas such as micro-finance, used vehicle financing and rural housing, says a Morgan Stanley report.
Lloyds Banking Group says it is cutting 3,000 more jobs and closing an additional 200 branches as it adjusts to changing consumer behavior and the uncertainty created by Britain's decision to leave the European Union.
With conciliation meeting between the United Forum of Bank Unions (UFBU) that has given a strike call on July 29, the Indian Banks Association (IBA) and the central government failing on Tuesday, the strike call stands, said a top leader of All India Bank Employees' Association (AIBEA).
The Reserve Bank of India has underlined the need for closer supervision of overseas offices of banks amid increasing cross-border activity of certain domestic lenders.
In a major crackdown for violations and lapses related to foreign exchange laws and KYC (know your customer) norms, the Reserve Bank of India has imposed a Rs 27 crore penalty on 13 public- and private-sector banks, while asking eight others including State Bank of India (SBI) and ICICI Bank to ensure strict compliance with guidelines.
State Bank on Tuesday launched a payment system at its ATMs which will allow the account holders transfer money using mobile phone number as identifier.
RBI has imposed penalty of Rs 2 crore each on Allahabad Bank and UCO Bank, and Rs 1 crore on Bank of India for violation of anti-money laundering norms.