indian banks' association

India's UPI transactions reached record highs in May, with 23.2 billion transactions valued at Rs 29.90 lakh crore. This growth, driven by summer travel and seasonal spending, signifies a healthy upward trajectory for the digital payments ecosystem. Future expansion is anticipated through Credit-on-UPI and cross-border initiatives.

Finance minister Nirmala Sitharaman has directed banks to bolster cybersecurity against advanced AI threats, including those posed by Anthropic's 'Claude Mythos'. Emphasizing proactive measures and real-time threat sharing, she urged banks to collaborate, hire top professionals, and leverage AI for defense, ensuring robust protection of customer data and financial assets.

FM, Vaishnaw Meet Banks And Regulators

Bankers anticipate a slowdown in credit growth for FY27, following a robust FY26. Deposit mobilization is becoming a challenge, impacting bank margins. While credit demand is expected from retail, services, and SMEs, industrial lending is set for a gradual recovery. A funding gap is projected, potentially eased by relaxed liquidity norms.

The RBI kept its policy rate at 5.25% for the second consecutive meeting, citing concerns over elevated crude oil prices and global uncertainties. Governor Malhotra expressed cautious optimism, assuring markets that temporary forex measures were aimed at curbing speculation and would be reviewed. The central bank also eased capital norms for banks to support credit growth.

All government banks across the country will observe strike on Monday and Tuesday. The strike has been called protest against Indian Banks Association's (IBA) failure to get hike in salaries of the bank employees.

Mumbai, Feb 17 () The apex body of bankers today met here to discuss the Rs 11,400-crore scam at Punjab National Bank allegedly caused by the absconding diamond trader Nirav Modi and a clutch of his family-run companies.

Students availing education loan could get longer a repayment period of up to 15-years if the Union finance ministry agrees to a suggestion given by Indian Banks Association.

The number of students applying for educational loans across the country has doubled in the last five years, data compiled by the indian banks' association has shown.

Bank account holders can expect better standards of service and more secure ways of doing business if the recommendations by a committee set up by RBI are accepted.

City-based Corporation Bank has won three Banking Technology Awards 2010 for its efforts in using technology in online banking, financial inclusion and training and e-learning initiatives under the auspices of Indian Banks Association (IBA).

Around one million employees of 43 banks, including state-owned ones, will get a 15% hike in salaries as the Indian Banks’ Association (IBA) on Monday signed a wage agreement with unions and officers’ associations that will impose an additional burden of up to Rs 8,370 crore on lenders.

Bank unions will be formally signing the new wage revision agreement with the industry body Indian Banks Association (IBA) on Monday, one of the heads of the unions said on Friday.

Reports of the Indian Banks Association (IBA) mooting a proposal to put a cap on free ATM transactions to five per month hasn't gone down too well with customers.

Bankers, under the Indian Banks Association (IBA), have set up core team of lenders to decide on the restructuring loans to micro-finance institutions (MFIs).

The indian banks' association has suggested levying a fee on cash withdrawals from ATMs in cities by customers of other banks to help recover increasing costs.

Shutters were down in around 900 bank-branches and 1000 ATMs in Kolkata as a result of the third phase of the relay strike called by United Forum of Bank Unions

For most, the steep fees for professional courses are becoming unaffordable as a result of which, more and more students are knocking on the doors of banks to pay for their education.

In a measure that would bring cheers to savings accounts holders, RBI on Friday asked banks to start calculating interest rates on these accounts on daily basis from April 1.

The Indian Banks Association (IBA) has taken a more liberal view of the finance ministry's diktat asking banks to become insurance brokers.

The all India association of bank employees United Forum of Bank Unions (UFBU) announced all banks would remain closed on February 10 and 11, following indian banks' association (IBA) "inadequacy" to revise their salaries.

Close to 37 banks, including public, private and foreign banks, have mandated to IBA to decide on wage hikes for their employees. Bank unions under the banner of United Forum of Bank Unions will represent the employees.

There would be limits to one's freedom to walk into any bank's automated teller machine from Thursday as third-party ATM usage would carry a cap on the withdrawal amount and the number of transactions each month.

RBI on Monday asked banks not to insist on attestation of signatures of persons, who want to invest their funds in FDs or open a bank locker.