During Q3FY2024, SFB-originated loans accounted for over 10 per cent of the total market volumes for the first time, signaling their growing reliance on securitisation for fundraising due to high credit growth and relatively higher deposit costs
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As of 31 March 2024, the customer franchise stood at 83.64 million, marking an increase from 69.14 million as of 31 March 2023. In Q4 FY24, the customer franchise grew by 3.23 million
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The RBI has also proposed making Central Bank Digital Currency (CBDC) accessible to broader sectors of customers by enabling non-bank payment system operators to offer CBDC wallets
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Amidst stability, diverse perspectives emerge on RBI's monetary policy decision
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Last month, Union Bank of India's Chief Digital Officer (CDO), Rajnish Khare, resigned from his position after a brief 15-month tenure, despite having a five-year contract
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Additionally, its CASA growth showed strength, marking an 18 per cent increase both quarterly and year-on-year
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The MPC had maintained the status quo on policy rates and stance in its last review which was held in February 2024
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The bank's deposits surged by 14 per cent to Rs 3,84,789 crore in the quarter, up from Rs 3,36,438 crore in the corresponding period last year
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