ICICI Bank junks ranks, scraps executive symbols

In a major HR shift, ICICI Bank has flattened its top management by getting rid of all grades of deputy general manager (GM) and above. Management executives are now known by their role and there are no grade-based benefits. The bank has also got rid of all symbols of hierarchy — no longer can anyone guess an executive’s seniority based on the size of his car or access to the executive dining room.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2QbiPji

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Debit card PoS swipes rise 27% as per RBI data

RBI numbers for March 2019 shows ATM withdrawals growing at a slower pace of 15%

from Banking/Finance-Industry-Economic Times http://bit.ly/2Hp4qNN

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City Union Bank net rises 15% to Rs 175 crore in Q4

Kumbakonam-based private sector lender City Union Bank (CUB) has reported a 15% rise in its net profit at Rs 175.12 crore for the fourth quarter against Rs 152.12 crore in the corresponding quarter last fiscal.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/30unlP0

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Nandan Nilekani-led panel on digital payments submits report to RBI

In a statement, the Reserve Bank said the committee held its deliberations including consultations with various stakeholders and submitted its report Friday to Governor Das.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VygbWb

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City Union Bank net rises 15% to Rs 175 crore in Q4

Kumbakonam-based private sector lender City Union Bank (CUB) has reported a 15% rise in its net profit at Rs 175.12 crore for the fourth quarter against Rs 152.12 crore in the corresponding quarter last fiscal.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/30unlP0

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Nandan Nilekani-led panel on digital payments submits report to RBI

In a statement, the Reserve Bank said the committee held its deliberations including consultations with various stakeholders and submitted its report Friday to Governor Das.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VygbWb

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We expect gold-loan business to grow 10%, says Manappuram Finance CEO

Manappuram Finance, the Kerala-based gold loan NBFC, is eyeing banks, financial institutions, commercial papers, and public and private NCDs to dive

from Business Line - Money & Banking http://bit.ly/2Q5ZL6j

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Bahrain invites Indian players to develop blockchain technology

Even though the Reserve Bank of India (RBI) has barred crypto assets in the country from using its Regulatory Sandbox (RS), Bahrain’s Central Bank i

from Business Line - Money & Banking http://bit.ly/2HDuzHQ

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RuPay makes a quantum leap in 4 years

Transactions on RuPay, the country’s first and only indigenously-developed card payment system, have been on the rise, especially in the last four ye

from Business Line - Money & Banking http://bit.ly/2VIpk3f

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Corporation Bank posts loss of Rs 6,581 cr in Q4

Public sector lender Corporation Bank on Friday said its loss widened to Rs 6,581.49 crore during the fourth quarter ended March 31, mainly due to higher provisioning for bad loans.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2WRxbbc

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Ujjivan to become a mass market bank under Nitin Chugh, says current CEO Samit Ghosh

Chugh will join Ujjivan in August and will work closely with current MD & CEO Samit Ghosh for "a smooth transition" before taking over the baton from him on December 1.

from Banking/Finance-Industry-Economic Times http://bit.ly/2YyoDqe

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Corporation Bank’s loss widens to Rs 6,581.49 crore in Q4

Public sector lender Corporation Bank said its loss widened to Rs 6,581.49 crore during the fourth quarter ended March 31, mainly due to higher provi

from Business Line - Money & Banking http://bit.ly/2HpvnkB

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Nandan Nilekani committee submits report on payments to RBI

The five-member team was formed in January this year to consult with various stakeholders of the payments ecosystem and deliberate on solutions to further strengthen the industry.

from Banking/Finance-Industry-Economic Times http://bit.ly/2JOx2BU

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New govt have to take urgent steps to improve liquidity: India Inc

Measures to tackle the NBFC crisis, relaxation in bank borrowing norms, boost to capital market activity and larger public infra spends top the wish list of corporates’ expectations from the new government.

from Banking/Finance-Industry-Economic Times http://bit.ly/2VMUDtJ

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Sundaram Finance Holdings Q4 net jumps two-fold

Sundaram Finance Holdings Ltd on Friday said it clocked over 100 per cent rise in net profit at Rs 32 crore for the fourth quarter ended March 2019

from Business Line - Money & Banking http://bit.ly/2Wc2xMH

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Appointment of RBI director to Yes Bank board may be precautionary: Macquarie

RBI move, it said, could be cautious and pre-emptive here. Also, the problems in Dhanlaxmi and LVB were far more serious; and RBI, in our view, appointed directors a bit late, whereas in Yes Bank they want their director to be on the board before the situation goes out of control.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2QhzD8J

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Appointment of R Gandhi as additional director a positive move: Yes Bank

The RBI had cut short the term of the lender's promoter-chief executive Rana Kapoor on concerns over governance.

from Banking/Finance-Industry-Economic Times http://bit.ly/2HpzGMH

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Ujjivan Small Finance Bank appoints Nitin Chugh as MD, CEO from December 1

The Reserve Bank of India (RBI) has approved Chugh's appointment, Ujjivan Financial Services said in a BSE filing.

from Banking/Finance-Industry-Economic Times http://bit.ly/30i7MJU

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Ujjivan Small Finance Bank appoints Nitin Chugh as MD, CEO from December 1

Chugh currently serves as the Group Head of Digital Banking of HDFC Bank

from Business Line - Money & Banking http://bit.ly/2JNlVc7

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City Union Bank March-quarter profit rises

City Union Bank’s net profit for the March-quarter has been estimated at Rs 175 crore. This over Rs 23 crore more than that of a year ago.The interest

from Business Line - Money & Banking http://bit.ly/2YBOxJL

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Appointment of Gandhi is positive: YES Bank

Private sector YES Bank on Friday said the appointment of R Gandhi by the Reserve Bank of India as an additional director is “a very positive and cons

from Business Line - Money & Banking http://bit.ly/2JHSMz4

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Yes Bank recalls bonus to former MD Rana Kapoor

Kapoor's term was cut short by RBI in October last year after the regulator expressed unhappiness over the bank's high NPA divergence.

from Banking/Finance-Industry-Economic Times http://bit.ly/2YB9mor

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Housing arm sale: PNB’s deal with Varde, General Atlantic falls through

Punjab National Bank (PNB) on Thursday said it has terminated the share purchase agreements (SPAs) made with Varde Holdings and General Atlantic for a 13% stake sale in PNB Housing Finance, which was announced on March 29.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JorTkn

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Bajaj Finance PAT grows 57% in Q4 despite challenging conditions faced by NBFCs

Bajaj Finance Ltd (BFL) has reported another strong quarter with its highest ever quarterly profit after tax, which grew 57% y-o-y to Rs 1,176 crore during Q4FY19 despite challenging conditions faced by NBFCs.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/30szPGu

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Back in the black: Bank of India swings to profit in Q4 with Rs 252 crore

The bottom line was driven by strong net interest income growth and a sharp drop in provisioning for bad loans. The state-run lender witnessed a 57.72% y-o-y rise in net interest income (NII) to Rs 4,044 crore.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VtUFSl

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Manappuram Finance to buy Manappuram Asset Finance

Non-banking finance company Manappuram Finance on Thursday announced that it had got approval to take over the promoter-led entity Manappuram Asset Finance Ltd (MAFIN).

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/30p2qwI

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Maharashtra coop bank to scale up retail operations

Maharashtra State Cooperative Bank (MSC) has entered retail operations and plans to scale up this business through a merger with a couple of urban cooperative banks based in Mumbai and Pune.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VtUDKd

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More NBFCs tie up with banks under loan scheme

Around Rs 5,000-10,000 crore worth of loans may have been sanctioned under the scheme since its launch in August last year.

from Banking/Finance-Industry-Economic Times http://bit.ly/2JoWQVJ

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DHFL may sell Rs 18,000 crore loans to US company Oaktree Capital

A successful deal with Oaktree will pave way for the sale of stakes in DHFL to a strategic partner, which could be a private equity firm or large financial institution.

from Banking/Finance-Industry-Economic Times http://bit.ly/2LQgLPn

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Soon, non-banking companies may verify via eKYC

Access to Aadhaar database will be a boon for mobile wallets and digital lenders.

from Banking/Finance-Industry-Economic Times http://bit.ly/2VuDC2n

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Housing arm sale: PNB’s deal with Varde, General Atlantic falls through

Punjab National Bank (PNB) on Thursday said it has terminated the share purchase agreements (SPAs) made with Varde Holdings and General Atlantic for a 13% stake sale in PNB Housing Finance, which was announced on March 29.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JorTkn

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Bajaj Finance PAT grows 57% in Q4 despite challenging conditions faced by NBFCs

Bajaj Finance Ltd (BFL) has reported another strong quarter with its highest ever quarterly profit after tax, which grew 57% y-o-y to Rs 1,176 crore during Q4FY19 despite challenging conditions faced by NBFCs.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/30szPGu

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Back in the black: Bank of India swings to profit in Q4 with Rs 252 crore

The bottom line was driven by strong net interest income growth and a sharp drop in provisioning for bad loans. The state-run lender witnessed a 57.72% y-o-y rise in net interest income (NII) to Rs 4,044 crore.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VtUFSl

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Manappuram Finance to buy Manappuram Asset Finance

Non-banking finance company Manappuram Finance on Thursday announced that it had got approval to take over the promoter-led entity Manappuram Asset Finance Ltd (MAFIN).

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/30p2qwI

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Maharashtra coop bank to scale up retail operations

Maharashtra State Cooperative Bank (MSC) has entered retail operations and plans to scale up this business through a merger with a couple of urban cooperative banks based in Mumbai and Pune.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VtUDKd

Read more »

Housing arm sale: PNB’s deal with Varde, General Atlantic falls through

Punjab National Bank (PNB) on Thursday said it has terminated the share purchase agreements (SPAs) made with Varde Holdings and General Atlantic for a 13% stake sale in PNB Housing Finance, which was announced on March 29.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JorTkn

Read more »

Bajaj Finance PAT grows 57% in Q4 despite challenging conditions faced by NBFCs

Bajaj Finance Ltd (BFL) has reported another strong quarter with its highest ever quarterly profit after tax, which grew 57% y-o-y to Rs 1,176 crore during Q4FY19 despite challenging conditions faced by NBFCs.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/30szPGu

Read more »

Back in the black: Bank of India swings to profit in Q4 with Rs 252 crore

The bottom line was driven by strong net interest income growth and a sharp drop in provisioning for bad loans. The state-run lender witnessed a 57.72% y-o-y rise in net interest income (NII) to Rs 4,044 crore.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VtUFSl

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Manappuram Finance to buy Manappuram Asset Finance

Non-banking finance company Manappuram Finance on Thursday announced that it had got approval to take over the promoter-led entity Manappuram Asset Finance Ltd (MAFIN).

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/30p2qwI

Read more »

Maharashtra coop bank to scale up retail operations

Maharashtra State Cooperative Bank (MSC) has entered retail operations and plans to scale up this business through a merger with a couple of urban cooperative banks based in Mumbai and Pune.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VtUDKd

Read more »

Housing arm sale: PNB’s deal with Varde, General Atlantic falls through

Punjab National Bank (PNB) on Thursday said it has terminated the share purchase agreements (SPAs) made with Varde Holdings and General Atlantic for a 13% stake sale in PNB Housing Finance, which was announced on March 29.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JorTkn

Read more »

Bajaj Finance PAT grows 57% in Q4 despite challenging conditions faced by NBFCs

Bajaj Finance Ltd (BFL) has reported another strong quarter with its highest ever quarterly profit after tax, which grew 57% y-o-y to Rs 1,176 crore during Q4FY19 despite challenging conditions faced by NBFCs.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/30szPGu

Read more »

Back in the black: Bank of India swings to profit in Q4 with Rs 252 crore

The bottom line was driven by strong net interest income growth and a sharp drop in provisioning for bad loans. The state-run lender witnessed a 57.72% y-o-y rise in net interest income (NII) to Rs 4,044 crore.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VtUFSl

Read more »

Manappuram Finance to buy Manappuram Asset Finance

Non-banking finance company Manappuram Finance on Thursday announced that it had got approval to take over the promoter-led entity Manappuram Asset Finance Ltd (MAFIN).

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/30p2qwI

Read more »

Maharashtra coop bank to scale up retail operations

Maharashtra State Cooperative Bank (MSC) has entered retail operations and plans to scale up this business through a merger with a couple of urban cooperative banks based in Mumbai and Pune.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VtUDKd

Read more »

Bajaj Finance PAT grows 57% in Q4 despite challenging conditions faced by NBFCs

Bajaj Finance Ltd (BFL) has reported another strong quarter with its highest ever quarterly profit after tax, which grew 57% y-o-y to Rs 1,176 crore during Q4FY19 despite challenging conditions faced by NBFCs.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/30szPGu

Read more »

Back in the black: Bank of India swings to profit in Q4 with Rs 252 crore

The bottom line was driven by strong net interest income growth and a sharp drop in provisioning for bad loans. The state-run lender witnessed a 57.72% y-o-y rise in net interest income (NII) to Rs 4,044 crore.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VtUFSl

Read more »

Manappuram Finance to buy Manappuram Asset Finance

Non-banking finance company Manappuram Finance on Thursday announced that it had got approval to take over the promoter-led entity Manappuram Asset Finance Ltd (MAFIN).

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/30p2qwI

Read more »

Maharashtra coop bank to scale up retail operations

Maharashtra State Cooperative Bank (MSC) has entered retail operations and plans to scale up this business through a merger with a couple of urban cooperative banks based in Mumbai and Pune.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VtUDKd

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PNB terminates agreements to sell stake in housing finance arm

The bank, in a filing to the exchange, said it will continue to be the sole promoter of PNB Housing Finance post the termination of the pacts, and stay strategically invested in its housing finance arm.

from Banking/Finance-Industry-Economic Times http://bit.ly/2WanHL9

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Bank of India back in the black, posts Rs 252 crore profit in Q4

The lender had reported a net loss of Rs 3,969 crore in the same quarter of last year. Its net losses in the third and second quarters of FY19 stood at Rs 4,738 crore and Rs 1,156 crore, respectively.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2WP79Ft

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PNB to remain sole promoter of PNB Housing; stake sales to General Atlantic, Varde Holdings fall through

State-run Punjab National bank will remain the sole promoter of PNB Housing Finance Ltd after its share purchase agreement (SPA) with General Atlantic Group and Varde Holdings fell through.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2YxUFCU

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Bajaj Allianz Gen net falls to ₹83 cr

Bajaj Allianz General Insurance, on Thursday, posted a fall of more than 55 per cent in net profit to ₹83 crore in the fourth quarter of 2018-19. The

from Business Line - Money & Banking http://bit.ly/2EdoyR8

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Are banks shying away from offering RuPay cards to affluent customers?

NPCI says it is only a matter of perception as RuPay offers good infrastructure and benefits

from Business Line - Money & Banking http://bit.ly/2WMwSyw

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KVB Q4 profit up 18%

The net profit of Karur Vysya Bank rose 18 per cent to ₹60 crore at the end of the fourth quarter of 2019, compared to ₹50.56 crore in the correspond

from Business Line - Money & Banking http://bit.ly/2w0dC4N

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Nitstone Finserv to raise ₹150 crore

Bangalore-based non-banking finance company, Nitstone Finserv plans to raise fresh funding of ₹150 crore from new investors.Nitstone Finserv is in d

from Business Line - Money & Banking http://bit.ly/2JI9KO0

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Now, Aditya Birla Health Insurance eyes PSBs for bancassurance partnerships

Health insurer now eligible for bancassurance tie-ups with PSBs, says CEO Bathwal

from Business Line - Money & Banking http://bit.ly/2JpjL34

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MobiKwik and ICICI Lombard tie up to insure ‘home contents’

For a small premium of ₹25 per month, you can now secure the contents of your home using a mobile app and protect them against mishaps.MobiKwik, a lea

from Business Line - Money & Banking http://bit.ly/2JI9FKc

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RBI asks NBFCs to appoint risk officers

The Reserve Bank of India said on Thursday that NBFCs with asset size of more than ₹5,000 crore should appoint a chief risk officer in a move to tigh

from Business Line - Money & Banking http://bit.ly/2VMEt3O

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Maharashtra State Cooperative Bank looks to enter infra and retail lending

Maharashtra State Cooperative Bank is looking to enter infrastructure and retail lending segments, to broaden its borrower profile, a senior bank off

from Business Line - Money & Banking http://bit.ly/2VtIJjp

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RBI directs NBFCs to appoint chief risk officer

The CRO "is required to function independently to ensure highest standards of risk management", a release said.

from Banking/Finance-Industry-Economic Times http://bit.ly/2VoObnH

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Citigroup, JPMorgan among banks fined $1.2 billion for Forex rigging

Citigroup Inc., Royal Bank of Scotland Group Plc, and JPMorgan Chase & Co. are among five banks that have agreed to pay European Union (EU) fines

from Business Line - Money & Banking http://bit.ly/2Yt7GgI

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Mastercard to double India headcount in 5 years

Global card payments major Mastercard which has announced an investment of $ one billion (Rs 7,000 crore) in India in the next five years, on Thursda

from Business Line - Money & Banking http://bit.ly/2w19JfM

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Bajaj Finance Q4 net surges 50% to Rs 1,114 cr

Bajaj Finance on Thursday reported a 50 per cent jump in its standalone net profit at Rs 1,114 crore for the last quarter of the fiscal ended March 20

from Business Line - Money & Banking http://bit.ly/2Q8Jf5t

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BoI Q4 net up at Rs 252 cr, lifted by interest income, decline in provisioning

Robust growth in net interest income and a sharp decline in loan loss provisions helped Bank of India report a turnaround performance, posting a net p

from Business Line - Money & Banking http://bit.ly/2HnoO1S

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RBI’s ex-deputy governor on Yes Bank board shows things are worse than they look

It’s no secret that India’s banking regulator hates having its officials sit on the boards of state-run lenders.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2LZJz8n

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Funding crisis to worsen unless India pumps in cash, says Kotak

The non-bank lenders, which have been hit by high borrowing costs and largely shut out from the bond market after the crisis at shadow lender IL&FS Group broke out last year, are facing the risk that more borrowers will be unable to repay their debt as the cash crunch drags on.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2LZJcL1

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Bank falsely blamed for twin Kerala suicides: AIBOC

The State Committee of the AIBOC also deplored the tendency to unleash acts of aggression against banks and bank officers on the basis of unsubstantiated facts or events

from Business Line - Money & Banking http://bit.ly/2WSOKrH

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Kerala Financial Corporation to host business conclave on May 29

Distribution of gold cards, launch of new software for contractor loans, and declaration of annual financial are also packed into the event, an official spokesman said

from Business Line - Money & Banking http://bit.ly/2JJby9e

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Manappuram Finance Q4 net profit up 43% at Rs 255 cr

The consolidated net profit of Manappuram Finance Ltd in Q4 of FY19 has recorded 43 per cent growth at Rs 255.59 crore against Rs 179.05 crore in the

from Business Line - Money & Banking http://bit.ly/30wDeV4

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View: Yes, bank on things being worse than they look

Yes reported its first-ever loss during the March quarter after the new CEO took a $300 million hit to cover for loans that could go bad in the future.

from Banking/Finance-Industry-Economic Times http://bit.ly/2JKrJTR

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Jammu and Kashmir Bank Q4 net rises 7-fold to Rs 215 crore

Jammu and Kashmir Bank on Wednesday reported a seven-fold year-on-year (y-o-y) increase in net profit to Rs 214.80 crore in the March quarter, led by strong operational performance.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JGsGg1

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Indian Bank Q4 net loss at Rs 190 crore

Chennai-based Indian Bank has reported a Rs 190-crore net loss for the fourth quarter against a net profit of Rs 132 crore in the corresponding quarter last fiscal, owing to higher provisioning for bad assets.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JljGNV

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Karur Vyasa Bank net up 19% to Rs 60 crore in Q4

Signalling pressure on the asset quality, the gross NPA of the bank increased to 8.79% from 6.56% while net NPA went up to 4.98% from 4.16%. The provision coverage ratio stood at 56.86%, said a statement issued by the bank.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JGcU4Q

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Manappuram Finance Q4 profit jumps 28% to Rs 214 crore

Gold loan NBFC Manappuram Finance on Wednesday announced a 28% year-on-year increase in standalone net profit for the three months to March.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Jm0O1g

Read more »

Jammu and Kashmir Bank Q4 net rises 7-fold to Rs 215 crore

Jammu and Kashmir Bank on Wednesday reported a seven-fold year-on-year (y-o-y) increase in net profit to Rs 214.80 crore in the March quarter, led by strong operational performance.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JGsGg1

Read more »

Indian Bank Q4 net loss at Rs 190 crore

Chennai-based Indian Bank has reported a Rs 190-crore net loss for the fourth quarter against a net profit of Rs 132 crore in the corresponding quarter last fiscal, owing to higher provisioning for bad assets.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JljGNV

Read more »

Karur Vyasa Bank net up 19% to Rs 60 crore in Q4

Signalling pressure on the asset quality, the gross NPA of the bank increased to 8.79% from 6.56% while net NPA went up to 4.98% from 4.16%. The provision coverage ratio stood at 56.86%, said a statement issued by the bank.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JGcU4Q

Read more »

Manappuram Finance Q4 profit jumps 28% to Rs 214 crore

Gold loan NBFC Manappuram Finance on Wednesday announced a 28% year-on-year increase in standalone net profit for the three months to March.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Jm0O1g

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Funding crisis to worsen unless India pumps in cash: Kotak

“If the liquidity the system requires is not provided sooner or later, this could morph itself into something beyond NBFCs’’ said Lakshmi Iyer, CIO for debt at Kotak .

from Banking/Finance-Industry-Economic Times http://bit.ly/2YvQM1a

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Jammu and Kashmir Bank Q4 net rises 7-fold to Rs 215 crore

Jammu and Kashmir Bank on Wednesday reported a seven-fold year-on-year (y-o-y) increase in net profit to Rs 214.80 crore in the March quarter, led by strong operational performance.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JGsGg1

Read more »

Indian Bank Q4 net loss at Rs 190 crore

Chennai-based Indian Bank has reported a Rs 190-crore net loss for the fourth quarter against a net profit of Rs 132 crore in the corresponding quarter last fiscal, owing to higher provisioning for bad assets.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JljGNV

Read more »

Karur Vyasa Bank net up 19% to Rs 60 crore in Q4

Signalling pressure on the asset quality, the gross NPA of the bank increased to 8.79% from 6.56% while net NPA went up to 4.98% from 4.16%. The provision coverage ratio stood at 56.86%, said a statement issued by the bank.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JGcU4Q

Read more »

Manappuram Finance Q4 profit jumps 28% to Rs 214 crore

Gold loan NBFC Manappuram Finance on Wednesday announced a 28% year-on-year increase in standalone net profit for the three months to March.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Jm0O1g

Read more »

Jammu and Kashmir Bank Q4 net rises 7-fold to Rs 215 crore

Jammu and Kashmir Bank on Wednesday reported a seven-fold year-on-year (y-o-y) increase in net profit to Rs 214.80 crore in the March quarter, led by strong operational performance.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JGsGg1

Read more »

Indian Bank Q4 net loss at Rs 190 crore

Chennai-based Indian Bank has reported a Rs 190-crore net loss for the fourth quarter against a net profit of Rs 132 crore in the corresponding quarter last fiscal, owing to higher provisioning for bad assets.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JljGNV

Read more »

Karur Vyasa Bank net up 19% to Rs 60 crore in Q4

Signalling pressure on the asset quality, the gross NPA of the bank increased to 8.79% from 6.56% while net NPA went up to 4.98% from 4.16%. The provision coverage ratio stood at 56.86%, said a statement issued by the bank.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JGcU4Q

Read more »

Manappuram Finance Q4 profit jumps 28% to Rs 214 crore

Gold loan NBFC Manappuram Finance on Wednesday announced a 28% year-on-year increase in standalone net profit for the three months to March.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Jm0O1g

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RBI tightens vigil on Yes Bank with ex-deputy governor on board

R Gandhi’s appointment may help the Yes Bank management face investor queries on its attempt to put the bank back on track.

from Banking/Finance-Industry-Economic Times http://bit.ly/2EcaTtF

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RBI releases payments systems roadmap for a ‘cash-lite’ India

RBI targets 2022 for its initiatives to be successfully completed; document has broadly identified four broad areas for targeted policy intervention.

from Banking/Finance-Industry-Economic Times http://bit.ly/2YvxuJa

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Jammu and Kashmir Bank Q4 net rises 7-fold to Rs 215 crore

Jammu and Kashmir Bank on Wednesday reported a seven-fold year-on-year (y-o-y) increase in net profit to Rs 214.80 crore in the March quarter, led by strong operational performance.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JGsGg1

Read more »

Indian Bank Q4 net loss at Rs 190 crore

Chennai-based Indian Bank has reported a Rs 190-crore net loss for the fourth quarter against a net profit of Rs 132 crore in the corresponding quarter last fiscal, owing to higher provisioning for bad assets.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JljGNV

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Karur Vyasa Bank net up 19% to Rs 60 crore in Q4

Signalling pressure on the asset quality, the gross NPA of the bank increased to 8.79% from 6.56% while net NPA went up to 4.98% from 4.16%. The provision coverage ratio stood at 56.86%, said a statement issued by the bank.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JGcU4Q

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Manappuram Finance Q4 profit jumps 28% to Rs 214 crore

Gold loan NBFC Manappuram Finance on Wednesday announced a 28% year-on-year increase in standalone net profit for the three months to March.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Jm0O1g

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Jammu and Kashmir Bank Q4 net rises 7-fold to Rs 215 crore

Jammu and Kashmir Bank on Wednesday reported a seven-fold year-on-year (y-o-y) increase in net profit to Rs 214.80 crore in the March quarter, led by strong operational performance.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JGsGg1

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Indian Bank Q4 net loss at Rs 190 crore

Chennai-based Indian Bank has reported a Rs 190-crore net loss for the fourth quarter against a net profit of Rs 132 crore in the corresponding quarter last fiscal, owing to higher provisioning for bad assets.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JljGNV

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Karur Vyasa Bank net up 19% to Rs 60 crore in Q4

Signalling pressure on the asset quality, the gross NPA of the bank increased to 8.79% from 6.56% while net NPA went up to 4.98% from 4.16%. The provision coverage ratio stood at 56.86%, said a statement issued by the bank.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JGcU4Q

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Manappuram Finance Q4 profit jumps 28% to Rs 214 crore

Gold loan NBFC Manappuram Finance on Wednesday announced a 28% year-on-year increase in standalone net profit for the three months to March.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Jm0O1g

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Jammu and Kashmir Bank Q4 net rises 7-fold to Rs 215 crore

Jammu and Kashmir Bank on Wednesday reported a seven-fold year-on-year (y-o-y) increase in net profit to Rs 214.80 crore in the March quarter, led by strong operational performance.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JGsGg1

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Indian Bank Q4 net loss at Rs 190 crore

Chennai-based Indian Bank has reported a Rs 190-crore net loss for the fourth quarter against a net profit of Rs 132 crore in the corresponding quarter last fiscal, owing to higher provisioning for bad assets.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JljGNV

Read more »

Karur Vyasa Bank net up 19% to Rs 60 crore in Q4

Signalling pressure on the asset quality, the gross NPA of the bank increased to 8.79% from 6.56% while net NPA went up to 4.98% from 4.16%. The provision coverage ratio stood at 56.86%, said a statement issued by the bank.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JGcU4Q

Read more »

Manappuram Finance Q4 profit jumps 28% to Rs 214 crore

Gold loan NBFC Manappuram Finance on Wednesday announced a 28% year-on-year increase in standalone net profit for the three months to March.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Jm0O1g

Read more »

Jammu and Kashmir Bank Q4 net rises 7-fold to Rs 215 crore

Jammu and Kashmir Bank on Wednesday reported a seven-fold year-on-year (y-o-y) increase in net profit to Rs 214.80 crore in the March quarter, led by strong operational performance.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JGsGg1

Read more »

Indian Bank Q4 net loss at Rs 190 crore

Chennai-based Indian Bank has reported a Rs 190-crore net loss for the fourth quarter against a net profit of Rs 132 crore in the corresponding quarter last fiscal, owing to higher provisioning for bad assets.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JljGNV

Read more »

Karur Vyasa Bank net up 19% to Rs 60 crore in Q4

Signalling pressure on the asset quality, the gross NPA of the bank increased to 8.79% from 6.56% while net NPA went up to 4.98% from 4.16%. The provision coverage ratio stood at 56.86%, said a statement issued by the bank.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JGcU4Q

Read more »

Manappuram Finance Q4 profit jumps 28% to Rs 214 crore

Gold loan NBFC Manappuram Finance on Wednesday announced a 28% year-on-year increase in standalone net profit for the three months to March.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Jm0O1g

Read more »

Jammu and Kashmir Bank Q4 net rises 7-fold to Rs 215 crore

Jammu and Kashmir Bank on Wednesday reported a seven-fold year-on-year (y-o-y) increase in net profit to Rs 214.80 crore in the March quarter, led by strong operational performance.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JGsGg1

Read more »

Indian Bank Q4 net loss at Rs 190 crore

Chennai-based Indian Bank has reported a Rs 190-crore net loss for the fourth quarter against a net profit of Rs 132 crore in the corresponding quarter last fiscal, owing to higher provisioning for bad assets.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JljGNV

Read more »

Karur Vyasa Bank net up 19% to Rs 60 crore in Q4

Signalling pressure on the asset quality, the gross NPA of the bank increased to 8.79% from 6.56% while net NPA went up to 4.98% from 4.16%. The provision coverage ratio stood at 56.86%, said a statement issued by the bank.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JGcU4Q

Read more »

Manappuram Finance Q4 profit jumps 28% to Rs 214 crore

Gold loan NBFC Manappuram Finance on Wednesday announced a 28% year-on-year increase in standalone net profit for the three months to March.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Jm0O1g

Read more »

Jammu and Kashmir Bank Q4 net rises 7-fold to Rs 215 crore

Jammu and Kashmir Bank on Wednesday reported a seven-fold year-on-year (y-o-y) increase in net profit to Rs 214.80 crore in the March quarter, led by strong operational performance.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JGsGg1

Read more »

Indian Bank Q4 net loss at Rs 190 crore

Chennai-based Indian Bank has reported a Rs 190-crore net loss for the fourth quarter against a net profit of Rs 132 crore in the corresponding quarter last fiscal, owing to higher provisioning for bad assets.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JljGNV

Read more »

Karur Vyasa Bank net up 19% to Rs 60 crore in Q4

Signalling pressure on the asset quality, the gross NPA of the bank increased to 8.79% from 6.56% while net NPA went up to 4.98% from 4.16%. The provision coverage ratio stood at 56.86%, said a statement issued by the bank.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JGcU4Q

Read more »

Manappuram Finance Q4 profit jumps 28% to Rs 214 crore

Gold loan NBFC Manappuram Finance on Wednesday announced a 28% year-on-year increase in standalone net profit for the three months to March.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Jm0O1g

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Magma Fincorp Q4 profit at Rs 85 crore, driven by higher disbursements

Magma Fincorp on Wednesday reported a consolidated net profit of Rs 85.2 crore in Q4FY19, a 6.6% year-on-year growth. The profits rose on account of a 7.6% increase y-o-y in its total income and a fall in tax expenses. The net profit was `80 crore in Q4FY18.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/30pfqSL

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Central Bank of India Q4 net loss at Rs 2,477 crore

Central Bank of India on Wednesday reported a net loss of `2,477 crore in the March quarter of FY19, owing to a high provisioning burden of Rs 4,734 crore.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VrBgRQ

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Mobile-first approach: UPI transaction values beat cards in every month of Q4

UPI usage shot up exponentially between March 2018 and March 2019, with monthly transaction volumes growing 4.5 times to 799.54 million over the year. While in its initial days, UPI usage was being driven largely by person-to-person (P2P) transactions.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/30lDUfL

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Central Bank of India Q4 loss widens to Rs 2,477 crore on high provisioning

Central Bank of India said it raised up to Rs 212.54 crore by allotting shares to staff under the Employees Stock Purchase Scheme, pending allotment of shares.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VnbhuY

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Even as people use more ATMs, India is shutting them down; here’s why

India already has the fewest ATMs per 100,000 people among BRICS nations, according to the International Monetary Fund.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2HmYYeA

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Magma Fincorp Q4 profit at Rs 85 crore, driven by higher disbursements

Magma Fincorp on Wednesday reported a consolidated net profit of Rs 85.2 crore in Q4FY19, a 6.6% year-on-year growth. The profits rose on account of a 7.6% increase y-o-y in its total income and a fall in tax expenses. The net profit was `80 crore in Q4FY18.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/30pfqSL

Read more »

Central Bank of India Q4 net loss at Rs 2,477 crore

Central Bank of India on Wednesday reported a net loss of `2,477 crore in the March quarter of FY19, owing to a high provisioning burden of Rs 4,734 crore.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VrBgRQ

Read more »

Mobile-first approach: UPI transaction values beat cards in every month of Q4

UPI usage shot up exponentially between March 2018 and March 2019, with monthly transaction volumes growing 4.5 times to 799.54 million over the year. While in its initial days, UPI usage was being driven largely by person-to-person (P2P) transactions.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/30lDUfL

Read more »

Central Bank of India Q4 loss widens to Rs 2,477 crore on high provisioning

Central Bank of India said it raised up to Rs 212.54 crore by allotting shares to staff under the Employees Stock Purchase Scheme, pending allotment of shares.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VnbhuY

Read more »

Even as people use more ATMs, India is shutting them down; here’s why

India already has the fewest ATMs per 100,000 people among BRICS nations, according to the International Monetary Fund.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2HmYYeA

Read more »

Magma Fincorp Q4 profit at Rs 85 crore, driven by higher disbursements

Magma Fincorp on Wednesday reported a consolidated net profit of Rs 85.2 crore in Q4FY19, a 6.6% year-on-year growth. The profits rose on account of a 7.6% increase y-o-y in its total income and a fall in tax expenses. The net profit was `80 crore in Q4FY18.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/30pfqSL

Read more »

Central Bank of India Q4 net loss at Rs 2,477 crore

Central Bank of India on Wednesday reported a net loss of `2,477 crore in the March quarter of FY19, owing to a high provisioning burden of Rs 4,734 crore.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VrBgRQ

Read more »

Mobile-first approach: UPI transaction values beat cards in every month of Q4

UPI usage shot up exponentially between March 2018 and March 2019, with monthly transaction volumes growing 4.5 times to 799.54 million over the year. While in its initial days, UPI usage was being driven largely by person-to-person (P2P) transactions.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/30lDUfL

Read more »

Central Bank of India Q4 loss widens to Rs 2,477 crore on high provisioning

Central Bank of India said it raised up to Rs 212.54 crore by allotting shares to staff under the Employees Stock Purchase Scheme, pending allotment of shares.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VnbhuY

Read more »

Even as people use more ATMs, India is shutting them down; here’s why

India already has the fewest ATMs per 100,000 people among BRICS nations, according to the International Monetary Fund.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2HmYYeA

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How an NBFC attracts ace bankers

The problems appear to be revolving around individual firms and their financial engineering.

from Banking/Finance-Industry-Economic Times http://bit.ly/2EaHGit

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Edelweiss net falls 3% at ₹232 cr

Edelweiss Financial Services reported a 3 per cent drop in fourth quarter consolidated net profit at ₹232 crore, against ₹240 crore in the year-ago pe

from Business Line - Money & Banking http://bit.ly/2vZlKCv

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Canara HSBC OBC Life ‘aiming to make it to top-five league’: Chairman

Life insurer erases losses, achieves cumulative break-even in 2018-19

from Business Line - Money & Banking http://bit.ly/2YuWTmo

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Magma Fincorp’s net profit up 28%

Magma Fincorp, a Mumbai-based asset finance company, has posted a 28.27 per cent rise in net profit at ₹304 crore for the financial year ended March 3

from Business Line - Money & Banking http://bit.ly/2Jokvpl

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RBI sets 2021 target for digital transactions

Our BureauThe Reserve Bank of India has set a target to increase the number of digital transactions, from 2,069 crore in December 2018 to 8,707 crore

from Business Line - Money & Banking http://bit.ly/2LK1H5G

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J&K Bank net profit surges to ₹215 crore

Jammu and Kashmir Bank posted a net profit of ₹214.80 crore for the fourth quarter of 2018-19 on the back of robust income, even though asset quality

from Business Line - Money & Banking http://bit.ly/2EcbL1a

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SIDBI’s pilot scheme for fintech NBFCs to boost digital lending

To give a fillip to digital lending, Small Industries Development Bank of India (SIDBI) has put together a pilot scheme to extend financial assistance

from Business Line - Money & Banking http://bit.ly/2Q4FqxZ

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Repco net profit rises 57% in FY19

Repco Micro Finance, promoted by Repco Bank, witnessed a 57 per cent growth in net profit at ₹45.34 crore in FY 2018-19. During the financial year, th

from Business Line - Money & Banking http://bit.ly/2VmEGW8

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Insurers slow to respond to emerging risks, says report

While the demand for comprehensive and personalised insurance products are on the rise, service providers seem less than ready to address the coverag

from Business Line - Money & Banking http://bit.ly/30oFq0w

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Insurers find it hard to offload downgraded paper of NBFCs

They feel the IRDAI is unlikely to give them a special exemption for holding on to it

from Business Line - Money & Banking http://bit.ly/2WIqQPb

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Ind-Ra affirms its long-term issuer rating on ITNL

The rating agency affirmed its issuer rating at ‘IND D’ on IL&FS Transportation Networks (ITNL).

from Business Line - Money & Banking http://bit.ly/2Qay1xq

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Even as people use more ATMs, India is shutting them down; here’s why

India already has the fewest ATMs per 100,000 people among BRICS nations, according to the International Monetary Fund.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2HmYYeA

Read more »

IIFL Holdings Q4 net profit up 30%

IIFL Holdings posted a rise of 30 per cent in net profit at Rs 373 crore for March quarter 2018-19.The company’s net profit in the year-ago period st

from Business Line - Money & Banking http://bit.ly/2Hk7bjn

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Karur Vysya Bank Q4 profit up 19% at ₹60 cr

Karur Vysya Bank on Wednesday reported a rise of 18.7 per cent in March quarter net profit at ₹60.02 due to healthy income from retail banking even a

from Business Line - Money & Banking http://bit.ly/2YtcIdh

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HDFC Limited partners with IMGC to provide mortgage-guarantee-backed home

Housing finance major HDFC Limited has partnered with India Mortgage Guarantee Corporation (IMGC) to offer a mortgage-guaranteed home loan product. Th

from Business Line - Money & Banking http://bit.ly/2WPajcE

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Videocon's Venugopal Dhoot complicit in Rs 64 crore payout to Kochhar

The probe agencies have compiled the exact manner of flow of funds and the present status thereof in Videocon Group.

from Banking/Finance-Industry-Economic Times http://bit.ly/2JEv46V

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RBI appoints R Gandhi on YES Bank board

Scrip down over 4%

from Business Line - Money & Banking http://bit.ly/2W3eFzA

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Analyst corner: SBI to outperform from current levels – Axis Capital

Q4 operating profit (Rs 169.3 bn; up 7% y-o-y) was higher than expected, but PAT (Rs 8.3 bn vs. estimate of `39.1 bn) was significantly below expectations, primarily on higher provisions.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2EaSaOU

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UCO Bank narrows Q4 net loss to Rs 1,552.02 crore

Uco Bank on Tuesday reported narrowing of its net loss to Rs 1,552.02 crore for the quarter ended March 31, 2019, against a net loss of Rs 2,134.36 crore for the same period a year ago, with rising operating profits and falling provisions for bad loans.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2WLaiWX

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Union Bank posts Rs 3,369 crore Q4 loss on high provisions

Public-sector lender Union Bank of India on Tuesday reported a net loss of Rs 3,369 crore in the March quarter of FY19, owing to a high provisioning burden of Rs 5,766 crore.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Ea6My6

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Slow income growth impending deposit growth: RBI study

Decelerating income growth is the most important among the factors responsible for the slowdown in deposit mobilisation of the banking system, the Reserve Bank of India (RBI), in its recent study, said.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2WHzddW

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Analyst corner: SBI to outperform from current levels – Axis Capital

Q4 operating profit (Rs 169.3 bn; up 7% y-o-y) was higher than expected, but PAT (Rs 8.3 bn vs. estimate of `39.1 bn) was significantly below expectations, primarily on higher provisions.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2EaSaOU

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UCO Bank narrows Q4 net loss to Rs 1,552.02 crore

Uco Bank on Tuesday reported narrowing of its net loss to Rs 1,552.02 crore for the quarter ended March 31, 2019, against a net loss of Rs 2,134.36 crore for the same period a year ago, with rising operating profits and falling provisions for bad loans.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2WLaiWX

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Union Bank posts Rs 3,369 crore Q4 loss on high provisions

Public-sector lender Union Bank of India on Tuesday reported a net loss of Rs 3,369 crore in the March quarter of FY19, owing to a high provisioning burden of Rs 5,766 crore.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Ea6My6

Read more »

Slow income growth impending deposit growth: RBI study

Decelerating income growth is the most important among the factors responsible for the slowdown in deposit mobilisation of the banking system, the Reserve Bank of India (RBI), in its recent study, said.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2WHzddW

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India is shutting down ATMs even as people use them more

As security costs swell, ATM operators are being squeezed because the fees they rely on for revenue remain low and can’t rise without the approval of an industry committee.

from Banking/Finance-Industry-Economic Times http://bit.ly/2LKevJr

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ED team visits Singapore authority in connection with the money laundering case against Chanda Kochhar

Sources added that the crack team interacted with officials of the Inland Revenue Authority of Singapore (IRAS) in connection with companies owned by Deepak Kochhar’s brother, Rajiv.

from Banking/Finance-Industry-Economic Times http://bit.ly/2W1RHIZ

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Government writes to banks on patchy PoS numbers

Banks were allocated targets of 20 lakh physical and mobile PoS deployment in FY19 but achieved only 44% of the target by the end of January.

from Banking/Finance-Industry-Economic Times http://bit.ly/2LHZ1pp

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Liquidity deficit of Rs 40,859 crore: Banks feel squeeze on lower spend by govt in poll season

​The surprise squeeze could be an obstacle in interest rate transmission. Tighter liquidity will make banks reluctant to lower rates.​

from Banking/Finance-Industry-Economic Times http://bit.ly/2HqzJXu

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Union Bank net loss widens to Rs 3,370 crore in Q4 on higher provisioning

Net NPAs came down to 6.85 per cent from 8.42 per cent.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2W2fZCO

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Citibank to focus on scaling up digital footprint in India

Citibank is planning to scale up its digital footprint in India while retaining the current branch network.“India represents a phenomenal growth oppo

from Business Line - Money & Banking http://bit.ly/2Vzx6fP

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Got a ₹2.5 note? It could fetch you ₹5 lakh

Collectors of vintage currencies, rare legal tender are hitting pay dirt

from Business Line - Money & Banking http://bit.ly/2VXLX36

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After Crisil, ICRA cuts rating of DHFL’s ₹850-crore CP

A day after Crisil Ratings downgraded commercial paper worth ₹850 crore of housing finance company Dewan Housing Finance Corporation (DHFL), rating

from Business Line - Money & Banking http://bit.ly/2LItR1c

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Union Bank net loss widens to Rs 3,370 cr in Q4 on higher provisioning

State-owned Union Bank of India on Tuesday said its net loss widened to Rs 3,370 crore in the fourth quarter of 2018-19, mainly on account of higher

from Business Line - Money & Banking http://bit.ly/2VCriSB

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United Bank of India to ‘consider all options to step up recovery’

Aims to recover up to ₹5,000 crore in FY20

from Business Line - Money & Banking http://bit.ly/2VXEvVG

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Vijay Mallya settles for more time to pay up for London home

Embattled liquor tycoon Vijay Mallya has settled a legal dispute with Swiss bank UBS to allow him time until April next year to pay off a mortgage loan for his central London home. The bank had sought possession of the 63-yr-old businessman's plush Cornwall Terrace apartment over the non-payment of a 20.4-million pounds loan and a trial in the case was due last week.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2YtHkLO

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Why a pick-up in inflation may not bother the RBI

Inflation in India is rebounding and is on course to accelerate after the world’s biggest election concludes this month. Yet that is unlikely to distr

from Business Line - Money & Banking http://bit.ly/2WJhvqo

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Facing liquidity squeeze, NBFCs/HFCs pin hopes on banks to resume lending

See securitisation as short-term solution

from Business Line - Money & Banking http://bit.ly/2WK5xwW

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G7 countries to simulate cross-border cyber attack on banks

Financial watchdogs are preparing one of the broadest war-gaming exercises to test the effect of a cyber attack that disables a large international ba

from Business Line - Money & Banking http://bit.ly/2LI1HmY

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Paytm launches credit card in partnership with Citigroup

The new card should help Paytm stay a step ahead of rivals in the fiercely competitive digital payments market.

from Banking/Finance-Industry-Economic Times http://bit.ly/2JmfgGH

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NPA recovery through IBC was about Rs 70,000 cr in FY’19, says Crisil Ratings

There is a slower accretion of new NPAs in the banking sector

from Business Line - Money & Banking http://bit.ly/2WLJTs4

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UCO Bank posts net loss of Rs 1,552 cr in March quarter

Net loss for the financial year at Rs 4,321.09 crore

from Business Line - Money & Banking http://bit.ly/2JMHiuv

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United Bank of India exploring out of court settlement to expedite recovery

UBI chief executive officer Ashok Kumar Pradhan said while price discovery remains a challenge in out of the court settlement, several banks are exploring this option to expedite recovery.

from Banking/Finance-Industry-Economic Times http://bit.ly/2E9ftso

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Indian Bank posts net loss of Rs 190 cr in Q4 FY19

State-owned Indian Bank reported a net loss of Rs 189.77 crore in the fourth quarter of the financial year ended March 2019, as high level of bad lo

from Business Line - Money & Banking http://bit.ly/2WJBzsW

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HMSI partners with IDFC FIRST Bank to offer financing solutions

Honda Motorcycle & Scooter India (HMSI) on Tuesday said it has partnered with IDFC FIRST Bank to provide financing solutions across the country.

from Business Line - Money & Banking http://bit.ly/2VZJ6Xw

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Paytm launches cash-back driven credit card with Citi Bank

Paytm First Card to offer unlimited 1% cash-back on purchases

from Business Line - Money & Banking http://bit.ly/2YsahHM

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Chanda Kochhar, husband appear before ED again in Videocon case

After facing over nine hours of questioning on Monday, the Kochhars arrived at the ED headquarters earlier in Khan Market area.

from Banking/Finance-Industry-Economic Times http://bit.ly/2YwVdcd

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Andhra Bank posts Rs 1,234-cr net loss in Q4

Andhra Bank has posted a net loss of Rs 1,234 crore in the fourth quarter ended March 31, 2019.Compared to a net loss of Rs 2,536 crore in the fourth

from Business Line - Money & Banking http://bit.ly/2VGk6Fr

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NBFCs facing liquidity crunch call for ease in securitisation norms

The NBFC sector wants securitisation guidelines to be amended to do away with the prescribed minimum holding period and minimum retention requirement.

from Banking/Finance-Industry-Economic Times http://bit.ly/309XHyC

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NBFCs may rejig businesses as loan disbursements fall

The decline could help them readjust business models now shaped by new financing-cost realities.

from Banking/Finance-Industry-Economic Times http://bit.ly/2VmrcJW

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Muthoot Finance March quarter standalone profit at Rs 512 crore

NBFC Muthoot Finance on Monday announced a flat growth in standalone net profit for the three months to March at Rs 511.5 crore.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JDiBAA

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IDFC First Bank reports Rs 218-crore net loss in Q4

IDFC First Bank on Friday reported a net loss of Rs 218 crore for the quarter ended March 2019, owing to higher provisions.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Jk5pkt

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United Bank back in black after 7 quarters of losses

Kolkata-headquartered United Bank of India (UBI) registered a net profit of Rs 95.18 crore for the quarter ended March 31, 2019 on the back of net interest income that increased nearly 25% over the year.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JDRlSv

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ESAF Small Finance Bank net profit soars to Rs 90.28 crore

Kerala-based ESAF Small Finance Bank on Monday said that it has achieved a 234% year-on-year increase in net profit for FY19 at Rs 90.28 crore.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JiMxCI

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RBI capital reserves: Jalan panel meets, to submit report in June

A high-level panel, chaired by former governor of Reserve Bank of India (RBI) Bimal Jalan to determine the appropriate capital reserves with the central bank, will submit its report in June, a source said on Monday.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JCa3cV

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Muthoot Finance posts 14% jump in net profit during FY’19

The company had posted a profit of Rs 1,844 crore in 2017-18.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2JiMve4

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NBFC liquidity crisis hits ‘loans against property’ market in FY19

High loan-to-value and high-yield buckets have reported higher delinquencies.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Jy7bOq

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Rising balance in Jan Dhan accounts spells windfall for banks

The no-frills deposits drive growth in CASA

from Business Line - Money & Banking http://bit.ly/2E7BzLZ

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NBFC liquidity crisis hits 'loans against property' mkt in FY19

In the case of commercial vehicle loans, the rating agency said its early delinquency index for rated CV loans fell to 7.53 per cent in January from 8.19 per cent in the year-ago period.

from Banking/Finance-Industry-Economic Times http://bit.ly/2HlWz2s

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Muthoot Finance posts ₹511-cr net profit in Q4

The net profit of Muthoot Finance, the largest gold financing company in the country, remained flat at ₹511 crore in Q4 of FY19, compared to ₹508 cro

from Business Line - Money & Banking http://bit.ly/2E6Afce

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ESAF SFB profit up 234% in FY19

ESAF Small Finance Bank has registered a 234 per cent increase in net profit at ₹90.28 crore in FY19, against ₹26.99 crore in the previous year.Acco

from Business Line - Money & Banking http://bit.ly/2WLufgw

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United Bank back in black with ₹95-cr profit in Q4

Our BureauUnited Bank of India, which has been reporting consecutive loss for the past seven quarters, made a turnaround in the fourth quarter of FY19

from Business Line - Money & Banking http://bit.ly/2VzdzfE

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Note ban: ED attaches ₹2.96-cr assets in Axis Bank currency case

The Enforcement Directorate(ED) has attached properties worth ₹2.96 crore in the Axis Bank demonetised currency conversion case. The properties belong

from Business Line - Money & Banking http://bit.ly/2HjL1wH

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To improve security, cash-handling firms set up common database of employees

Cash logistics and management firms have come together under the Currency Cycle Association (CCA) to co-create an online directory of all industry emp

from Business Line - Money & Banking http://bit.ly/2VC9gjF

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RBI slaps ₹1-cr fine on Nainital Bank

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1 crore on Nainital Bank for its failure to fully automate the non-performing ass

from Business Line - Money & Banking http://bit.ly/2Hijiwe

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HUDCO moves NCLAT to recover ₹60 cr from McDonald’s pay out to Vikram Bakshi

State-owned HUDCO on Monday approached the NCLAT to recover its ₹60-crore loan plus interest from Vikram Bakshi, who has agreed for an out-of-court

from Business Line - Money & Banking http://bit.ly/2Jgi5sJ

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Karnataka Bank Q4 net jumps nearly 6-fold to Rs 62 crore

Net interest margin -- a gauge of profitability for banks--was lower by 67 basis points to 2.87 per cent for the latest quarter as against 3.54 per cent a year ago.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2HeM7e6

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Airtel, HDFC Life Insurance to offer free cover for prepaid customers

Bharti Airtel and HDFC Life Insurance have tied up to offer life cover for customers who get a prepaid recharge done. Airtel’s new ₹249-prepaid bundl

from Business Line - Money & Banking http://bit.ly/2WFqmJL

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Axis Bank PMLA case: ED attaches Rs 2 cr assets

In a statement, the agency said it has issued a "provisional attachment order under the Prevention of Money Laundering Act (PMLA), attaching movable and immovable properties worth Rs 2,95,92,351 of Puneet Jain, Hemraj Singh, Vinod Deshmukh, Rajeev Singh Kushwaha, Mehfooz Khan, Pravesh Kumar Gandhi and others in the Axis bank demonetised currency conversion case".

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2HiUkOG

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Crisil downgrades Dewan Housing commercial papers worth ₹ 850 cr

Rating agency Crisil Ratings has downgraded commercial paper worth ₹850 crore of Dewan Housing Finance Corporation driven by weak liquidity condition

from Business Line - Money & Banking http://bit.ly/2YlAk3i

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Karnataka Bank Q4 net profit jumps nearly 6-fold to Rs 62 cr

The bank’s board has recommended a dividend of Rs 3.50 per share for the fiscal.

from Business Line - Money & Banking http://bit.ly/2Q3IYkf

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Sensex logs 9th straight loss, crashes 372 points

Continuing their losing spell for a ninth session in a row on Monday, the BSE sensex crashed over 372 points and the NSE Nifty dived nearly 130 points on sustained sell-off across the board. The index widened its loss towards the fag-end on emergence of intense selling in heavyweights like ITC, RIL and ICICI Bank.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2WEABOH

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ICICI Bank launches multi currency travel card with Goibibo

ICICI Bank launched a multi currency travel card along with Goibibo to offer convenience as well as monetary benefits to the burgeoning section of int

from Business Line - Money & Banking http://bit.ly/2VkhHv0

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HDFC Bank shortlists 3 start-ups inDigital Innovation Summit

HDFC Bank on Monday said three start-ups from the city - Loop Reality, BluSapphire and Appnovation Technology - were declared winners at its regiona

from Business Line - Money & Banking http://bit.ly/30hlWv1

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Bimal Jalan panel on RBI's capital size to submit report next month

The six-member Jalan panel was appointed on December 26, 2018 to review the Economic Capital Framework for the RBI.

from Banking/Finance-Industry-Economic Times http://bit.ly/2vUUl4M

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Oriental Bank back in black, net profit in FY’18-19 at Rs 55 cr

Oriental Bank of Commerce (OBC) on Monday reported a net profit of Rs 201.50 crore for the fourth quarter ended March 31, 2019. Thé public sector lend

from Business Line - Money & Banking http://bit.ly/2JdbMGg

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HDFC Q4 net rises 27% to Rs 2,862 cr

To pay Rs 17.5 final dividend

from Business Line - Money & Banking http://bit.ly/2LSnPLB

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Interest in bank deposits revives, says RBI study

The study cites empirical evidence to show that income as the most important determinant, both in the short and long-run. It calls for a careful appraisal of regulatory reforms and tax arbitrage with efforts to make returns on deposits and capital markets both more market-determined.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2HgqDO0

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ICICI Bank-Videocon loan case: Chanda Kochhar appears before ED

Sources said Kochhar is required to assist the investigating officer of the case in taking the probe forward and her statement will be recorded under PMLA.

from Banking/Finance-Industry-Economic Times http://bit.ly/2W0kkGD

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ICICI-Videocon case: Chanda Kochhar appears before ED

Sources said Kochhar is required to assist the investigating officer of the case in taking the probe forward and her statement will be recorded under the PMLA

from Business Line - Money & Banking http://bit.ly/2VzpSIw

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De-duplication of Indian consumer data to be complete by year-end: Mastercard

In 2020 and early 2021, Mastercard plans is to create a global technology node in India

from Business Line - Money & Banking http://bit.ly/2E0Vb4b

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SEBI slaps two showcause notices on HDFC AMC

HDFC Asset Management Company (HDFC AMC) Ltd on Monday said it is in receipt of two show cause notices from the Securities and Exchange Board of India

from Business Line - Money & Banking http://bit.ly/2VfbLmZ

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Accelerating economic growth, disposable incomes key to banks’ deposit mobilisation

The slowdown in bank deposit growth in the recent period alongside a revival of credit demand raised concerns about a structural liquidity gap in the system, possibly amplified by substitution effects of small savings and mutual funds on bank deposits in the aftermath of demonetisation, as per an article published in the latest monthly bulletin of the RBI.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2E2tloi

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Finance Ministry seeks applications for post of DMDs at IIFCL, IFCI, Exim Bank

The positions are open for All India Service officers on deputation basis with minimum 15 years of experience of which 2 years as director or deputy secretary to Government of India in relevant filed.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VuqCPa

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IBC timeline adherence soon: Injeti Srinivas, Corporate Affairs Secretary

Prepackaged group insolvencies, which involves agreeing to a resolution plan before declaring bankruptcy, could also be attempted in the future.

from Banking/Finance-Industry-Economic Times http://bit.ly/2WI2WU8

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Insolvency: Institutional creditors may have to fork out liquidation costs upfront

The IBBI felt that this may prove to be burdensome for the retail individual creditors

from Business Line - Money & Banking http://bit.ly/2Vx3dwD

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Liberty General Insurance sees major potential in Tier2/3 cities; eyes new products, tie-ups

Private sector Liberty General Insurance is keen on building scale and plans to open 100 new branches this year and is also looking at new products a

from Business Line - Money & Banking http://bit.ly/2JuXtfI

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‘Economic growth, income level drive bank deposits’

Interest rates, competitive investments have a lesser impact on mobilisation of deposits, says Reserve Bank of India study

from Business Line - Money & Banking http://bit.ly/2JgpAQw

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'Economic growth, high disposable income to aid banks' deposit mobilisation'

To address the issue of structural liquidity gap, the Reserve Bank of India (RBI) in recent months took several initiatives including Open Market Operations and dollar rupee swap auction.

from Banking/Finance-Industry-Economic Times http://bit.ly/2VdJg93

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RBI proposes mobile app to help visually impaired to identify currency notes

At present, banknotes in the denominations of Rs 10, 20, 50, 100, 200, 500 and 2,000 are in circulation, besides Re 1 notes issued by the Government of India.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Vwl5YG

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Loan defaulters have no right to be represented by lawyer in 'in-house' proceedings of banks: SC

The lending bank had contended that the defaulting borrower does not need the assistance of lawyers in the proceedings as no complex legal questions are decided in declaring a person a willful defaulter.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Ynk2ai

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NCLT dismisses ICICI Bank's plea to initiate insolvency proceedings against Era Infrastructure

The tribunal held that "on account of duplicacy" of the claims, the petition filed by ICICI Bank "can not be entertained".

from Banking/Finance-Industry-Economic Times http://bit.ly/2VZG0CG

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Finance ministry seeks applications for post of DMDs at IIFCL, IFCI, Exim Bank

The last date for submission for these applications is May 27, 2019

from Business Line - Money & Banking http://bit.ly/2Hdl96x

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NCLT dismisses ICICI Bank’s plea to initiate insolvency proceedings against Era Infrastructure

The tribunal held that “on account of duplicacy” of the claims, the petition cannot be entertained

from Business Line - Money & Banking http://bit.ly/2JAb0CH

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Imminent crisis in NBFC sector: Corporate Affairs Secretary

There is an “imminent crisis” in the non-banking financial companies (NBFCs) sector as misadventures by some large entities and credit squeeze presen

from Business Line - Money & Banking http://bit.ly/2E5enOr

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FinMin seeks applications for post of deputy MDs at IIFCL, IFCI, Exim Bank

India Infrastructure Finance Company Ltd (IIFCL) and IFCI require to fill one post of deputy managing director (DMD) each, while Exim Bank has two such vacancies.

from Banking/Finance-Industry-Economic Times http://bit.ly/30hLU1x

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RBI proposes mobile app to help visually impaired to identify currency notes

Around 80 lakh people are likely to benefited by this initiative

from Business Line - Money & Banking http://bit.ly/2JA7Fn9

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Imminent crisis in NBFC sector: Corporate Affairs Secretary

In recent months, the country's financial system has been grappling with multiple woes in the wake of the turmoil at diversified IL&FS group.

from Banking/Finance-Industry-Economic Times http://bit.ly/2HhmjhK

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RBI proposes mobile app to help visually impaired to identify currency notes

At present, banknotes in the denominations of Rs 10, 20, 50, 100, 200, 500 and 2,000 are in circulation, besides Re 1 notes issued by the Government of India.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Vwl5YG

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Reliance entry to digitise 5 million kirana stores by 2023: Report

Richest Indian Mukesh Ambani-led Reliance Industries' entry into online retailing will help expand the current 15,000 digitised retail stores to over 5 million by 2023, a study of Bank of America Merrill Lynch said. As much as 90 per cent of India's $700 billion retail market is unorganised, made up mostly of neighbourhood kirana stores selling groceries and other sundries.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2HdJs4y

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