Festival season: Govt ask PSU banks to cut rate
Government tries to increase demand for bikes and consumer goods by asking banks to offer cheap
loans. The government has asked public sector banks to cut interest rates in order to increase demand
for vehicle and consumer durable loans in the festival season. According to the government, these
sectors will revive growth in the economy.
Bank funding safer since crisis: IMF Survey
The financial crisis showed that some types of bank funding are dangerous: short-term wholesale
funding was a major culprit. When bank’s health started to look dicey, wholesale suppliers of funding
decided to pull their money out of banks when their liabilities came due instead of rolling them over. It
is now clearer that customer deposits and equity capital are necessary elements of more stable funding
structures.
Axis Bank unveils digital retail banking roadmap
Axis Bank sees mobile banking transactions surging over internet banking in the next five years.
With an aim to reach out to 15 lakh customers the bank has launched Mobile Banking App 2.0 for its
retail resident Indian customers, Rajiv Anand, President, Retail banking said.
Net NPA of all banks rises to 1.68% in 2012-13: RBI
Net NPA of the nationalised banks, including IDBI Bank, rose to 2 per cent during the year as
compared to 1.44 per cent in the previous fiscal. Net non-performing assets (NPA) of all scheduled
commercial banks increased to 1.68 per cent of the total loan at the end of 2012-13, according to the
Reserve Bank of India.
30 Sept
6 Oct