The Reserve Bank of India (RBI) had earlier estimated that households' net financial savings dropped to 5.1 per cent of GDP in 2022-23, marking a 47-year low
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According to Reserve Bank of India data, the year-on-year growth in loans against gold jewellery offered by banks has tapered to 15 per cent in February, down from 26 per cent in June 2023
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According to Icra's analysis, the anticipated fresh NPA generation rate for public sector banks (PSBs) is poised to elevate to 1.5 per cent in FY25, a marginal increase from the estimated 1.3 per cent recorded in the previous fiscal year
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Amidst ongoing adjudication proceedings by Sebi, the bank has proposed to settle the initiated proceedings without admitting or denying the findings or conclusions of law
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Under the new norms, banks are required to classify bonds as 'held-to-maturity' permanently, with a 5 per cent allowance for withdrawal throughout the year
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Swiss Finance Minister Karin Keller-Sutter emphasised the necessity of these measures to prevent banks from encountering situations akin to Credit Suisse's downfall, during a press conference
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The one-year MCLR now stands at 8.85 per cent, while the six-month and three-month MCLR rates have been adjusted to 8.65 per cent and 8.45 per cent, respectively
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This growth is attributed to stable asset quality during the reporting quarter, despite some banks facing margin pressures due to higher funding costs
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