Budget 2024: Union Finance Minister Nirmala Sitharaman will present a vote on account in February next year. Though it is unlikely to introduce any major regulatory tweaks, the banking industry is looking for some boost to existing schemes
The banking sector has made significant progress in addressing the NPA crisis representing a shift towards a more transparent and responsible financial future.
Reserve Bank of India’s June Financial Stability Report released last week highlights that the profitability of scheduled commercial banks (SCBs) continued to improve in FY23.
India Ratings and Research (In-Ra) has upgraded the outlook on the banking sector from “negative” to “stable” for FY22. The change in outlook is driven by a reduction in the system-wide Covid-19 linked stress to below the expected levels on back of liquidity support and emergency credit support, especially to micro, small and medium units (MSMEs).
Banks have also strengthened their financials by raising capital and building provision buffers, Indi-Ra said in a statement. The rating agency has upgraded its FY21 credit growth estimates to 6.9 per cent from 1.8 per cent. The credit is expected to grow at 8.9 per cent in FY22, on the improvement in the economic environment in October 2020-March 2021 (2HFY21) and the government s focus on higher spending, especially on infrastructure.
How Cloud Can Rescue India’s Banking Sector From Post-Covid Slump
In 2021, cloud will power vital infrastructure for India’s banking and payments sector, enabling agility, improved remote collaboration and faster application development and deployment. Unsplash Ciaran Chu 2021-01-19T12:03:13+05:30 How Cloud Can Rescue India’s Banking Sector From Post-Covid Slump outlookindia.com 2021-01-19T12:07:08+05:30
The year 2020 has been a whirlwind one. Among the profound changes the pandemic has ushered in, the mass adoption of digital payments and banking platforms is likely to be long-lasting in nature. As we adapt to a world shaped by physical distancing, banks and financial institutions are adapting and innovating. For firms looking to recover in the short-term and accelerate their growth trajectory in the longer term, technology-fuelled experiences can help them compete, ramping up services and profitability while reshaping customer exper