Banking

Strong loan growth outpaces deposit expansion in the June quarter, reflecting sustained credit demand.

Banks have mobilised an estimated $3-4 billion so far, with lenders expecting inflows to pick up from mid-July as awareness among overseas Indians increases.

Steady growth in deposits and advances lifts PNB's global business to a record Rs 30 lakh crore.

The latest quarterly numbers suggest Bank of Baroda maintained healthy momentum in loan growth.

Canara Bank's provisional Q1 update showed steady business momentum, with advances outpacing deposit growth and RAM lending remaining strong.

The report said the West Asia conflict and consequent increase in global uncertainty also impacted emerging market economies (EMEs) like India through the financial channel.

Kumar retired as Finance Secretary of India in February 2020. Post retirement he also briefly served as Chairman of Public Enterprises Selection Board (PESB).

Beyond a career in the banking and financial sector, Kumar has also served as the 25th Chief Election Commissioner of India.

These departures consist of the positions of chief financial officer (CFO) for Axis Bank and Bandhan Bank along with role of chief executive officer and managing director of Kotak Bank Ltd.

The lender said Mantri will step down on September 25 after completing his 90-day notice period; he joined Bandhan Bank in February 2024.