Indian Banking updates

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RBI ready to issue new licences for small payments banks: RBI Deputy Governor Mr. R Gandhi advised RRBs and co-operative banks to pull up their socks as they are set to face more competition in the future with a fresh round of banking licences being issued to small payments banks. They could be fighting for the same set of customers, he added. (BS)

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Forex reserves hit all-time high of $354 bn: The country's foreign exchange reserves rose to yet another all-time high of $354.29 billion for the week ended June 12, recording a week-on-week rise of $1.57 billion, show data released. (BS)

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SBI chief defends PSBs on lending practices: The finance ministry which has been looking to energise the PSBs with talent from private peers received an unexpected retort from the chief of the nation's biggest lender, Ms. Arundhati Bhattacharya, on how it may not be of much help in reviving investments if their track record is any indication. (ET)

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Delinquency in retail loan sector has come down: CIBIL: Delinquencies in retail and home loans have come down substantially compared to five years ago, according to a trend report released by CIBIL. The delinquency in area of retail and personal loans, where a customer misses payment of three EMIs as defined by the CIBIL, has come down to 1.06% in the first quarter this calendar year from 2.31% in the year 2010. The same in housing loans fell sharply to 0.57% from 1.46% as at the end of the year 2010, according to the report. (BS)

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Rising yields squeeze banks, hold back cheaper loans: Indian benchmark government bond yields have hardened back to January levels despite three interest rate cuts this year, a shift that is eating into banks' profits and hampering efforts to get them to pass on lower lending rates. (FE)

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RBI fixes rate of interest on FRB,2020: RBI has fixed the rate of interest on the floating rate bonds, 2020 (FRB, 2020), applicable for the half year June 21 to December 20 at 7.80% per annum. (BS)

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SBI launches online forex platform: State Bank of India today said it has launched SBI eforex, an Internet- based platform that enables customers to book their foreign exchange transactions online. The customers will be able to obtain forex rates without having to visit the branch, the bank said in a statement. (FE)

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Bandhan’s ‘human teller machines’ to bring bank to doorstep: Come August, you can deposit or withdraw money from your account while sitting at home, thanks to Bandhan’s ‘human teller machines’.  The bank-to-be will use its time-tested hand-held point-of-sale devices for taking deposits from doorstep of its customers, who can also withdraw money from their account. (FE)

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Irdai asks TPAs to keep out of settling claims, soliciting biz: Third party administrators (TPAs) in health insurance will have to keep out of deciding on claims or soliciting business, according to draft guidelines of IRDAI. (BS)