After RBI caps chiefs’ tenure at 15 yrs, three private banks may start search for next CEOs
Analysts said the RBI move is a reaction to the Yes Bank crisis.
Synopsis
Bankers said the central bank’s move could hurt stability at small and medium private sector banks that require strong leadership and an understanding of the business to stand out in a competitive lending business.
Long-serving chief executive officers (CEOs) at DCB Bank, RBL Bank and Federal Bank will now have to focus on succession planning after the regulator this week capped their tenures at 15 years.
DCB Bank CEO Murali Natrajan has completed 12 years in the job and got a year’s extension this month. Federal Bank CEO Shyam Srinivasan will complete 11 years in September when his second consecutive one-year extension ends.
RBL Bank Mastercard partner to offer first-of its-kind payment functionality
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Mumbai: RBL Bank and Mastercard today announced their partnership to launch a mobile based consumer-friendly payment solution – the Pay by Bank App, a first-of-its-kind payment functionality in India. RBL Bank account holders can now enjoy contactless transactions across the world through their mobile banking application both in-store and online. This functionality will be available at all Mastercard accepting merchants, worldwide that accept contactless and online payments.
To provide enhanced security, ‘Pay by Bank App’ ensures that Bank customer’s payment credentials are never exposed to the merchant, making the transaction completely secure. Customers will continue to receive the Mastercard consumer protection benefits that they currently enjoy on their debit cards.
RBL Bank and Mastercard partner to offer first-of-its-kind, payment functionality in India ANI | Updated: Apr 15, 2021 14:25 IST
Mumbai (Maharashtra) [India], April 15 (ANI/NewsVoir): RBL Bank and Mastercard today announced their partnership to launch a mobile-based consumer-friendly payment solution - the Pay by Bank App, a first-of-its-kind payment functionality in India.
RBL Bank account holders can now enjoy contactless transactions across the world through their mobile banking application both in-store and online. This functionality will be available at all Mastercard accepting merchants, worldwide that accept contactless and online payments.
To provide enhanced security, Pay by Bank App ensures that bank consumer s payment credentials are never exposed to the merchant, making the transaction completely secure. Customers will continue to receive the Mastercard consumer protection benefits that they currently enjoy on their debit cards
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NEW DELHI: Government-owned banks were hammered mercilessly on Monday on fears that the return of state-wide lockdowns, like one widely speculated in Maharashtra, could dent asset quality and loan growth going ahead.
Nifty PSU Bank plunged 9.26 per cent led by
Indian Bank, Canara Bank, Punjab National Bank and Bank of India that dropped over 10 per cent each in a single session. .
Investors are already concerned about the extent of the impact of the national lockdown on balance sheets of banks, and the renewed Covid restrictions have augmented those fears.
“The gap-down opening on Monday s trade widened as the day progressed with all sectoral indices in the red as investors worried about the economic fallout on account of the surge in coronavirus cases. Asset quality concerns spooked banks and PSU stocks across sectors were the worst hit amidst lockdown worries,” said S Ranganathan, Head of Research at LKP Securities.
RBL Bank advanced 2.50% to Rs 211.50 after the bank s total deposits jumped 26% to Rs 73,123 crore as on 31 March 2021 as against Rs 57,812 crore as on 31 March 2020.
Retail LCR Deposits surged 43% to Rs 27,203 crore in 31 March 2021 compared with Rs 19,004 crore in 30 March 2020. Current Account-Savings Account (CASA) soared 36% to Rs 23,264 crore in 31 March 2021 from Rs 17,116 crore in 31 March 2020.
CASA ratio stood at 31.8% as on 31 March 2021 as against 29.6% as on 31 March 2020. Liquidity Coverage Ratio was at 154% as on 31 March 2021 as against 155% as on 31 March 2020.
Gross advances rose 2% to Rs 60,012 crore as on 31 March 2020 as against Rs 58,966 crore as on 31 March 2020.
Retail advances grew 14% Y-o-Y (year-on-year) and 6% Q-o-Q (quarter-on-quarter) for the quarter ended 31 March 2021, with the mix of retail:wholesale advances at approx. 59:41.