Sunday, April 21, 2024

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Banking sector

JP Morgan includes India in its global bond index, ‘FAR’ programme of the Modi govt facilitated the inclusion

Following the announcement of JP Morgan, it is now expected that India will be included in the global bond index of other banks as well.

Banking sector improved in past 9 years under Modi govt: SBI research finds tripling in net profit, 2x increase in credit and deposit growth

The net profit of banks increased from ₹809 trillion to 2,480 trillion between Financial Year 2013-2014 and Financial Year 2022-2023.

The Economist praises the Modi govt for reviving the banking sector, and exposes how the UPA-era policy of hiding losses proved disastrous

The Economist noted that the bankruptcy reforms introduced by the Narendra Modi government in 2016 helped in the rapid liquidation of failing companies and also forced 'delinquent businesses to pay up.'

11 top American banks rescue ‘vulnerable’ First Republic Bank with a contribution of $30 billion after the collapse of two banks

First Republic Bank underwent a liquidity crisis after customers moved billions of deposits out of the bank in distress.

HSBC acquires the UK arm of Silicon Valley Bank for a ‘symbolic’ 1 pound or Rs 99. Here is what we know so far

According to HSBC, SVB UK had a profit of £88m before tax for the financial year ending December 31 last year. It added that the bank had loans totalling £55 bn, deposits of around £7bn and tangible equity of around £1.4bn as of March 10, 2023.

China begins to feel the heat of economic slowdown amid crashing property rates and surging job losses: All you need to know

China is amid an economic slowdown as property rates have crashed and unemployment levels have reached alarming levels.

Mint apologises for a ‘manel’ amid backlash after women speakers who were invited declined the invite

The apology came after many people took to Twitter to raise objection to not having a single woman speaker in the panelists on Banking conclave despite many women being in top managerial positions in leading banks across India.

Banks suffer due to bad loans, then economy suffers as banks lend less – Read how ‘Bad Bank’ will break this vicious cycle

NARCL is intended to resolve stressed loan assets above ₹500 crore each amounting to about ₹2 lakh crore in total

Now private sector banks can conduct government transactions, union government lifts embargo

Private sector banks will be able to conduct govt-related transactions such as taxes, pension, small savings schemes etc

Central Government appoints Expert Committee to make an overall assessment in relation to waiver of interest on loans

The Expert Committee will be looking into matters including waiver of interest and waiver of interest on interest.

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