The Financial Services Institutions Bureau (FSIB) has recommended Manoj Mittal as the Chairman and Managing Director of Small Industries Development Bank of India (SIDBI) and Sanjay Shukla as the Managing Director of National Housing Bank (NHB). Mittal will replace S Ramann, who joined SIDBI in April 2021. FSIB interviewed 21 candidates and recommended Mittal for the position.
Icra downgraded the banking sector outlook from positive to stable due to expected credit growth and profitability moderation in FY25. Gross NPAs likely to reduce to 2.2% by March 2025. Challenges include deposit mobilization, NIM pressure, and increasing operating expenses, despite benign credit costs. Public sector banks fare better in fresh slippages due to a larger corporate advances focus
The HDFC Bank Senior Citizen Care FD special offer will be applicable to both new fixed deposits and renewals for senior citizens only. The bank offers 0.75% extra interest rate with Senior Citizen Care FD offer. This offer is not applicable to non-resident Indian.
SBI (State Bank of India) Amrit Kalash special fixed deposit (FD) scheme s validity has been extended. The special fixed deposit scheme for retail customers offers higher interest rates for regular and senior citizens.