Higher tax outgo, slippages in retail loans roil ICICI Bank, net down 6%

To a question on whether the rise in low grade loans is attributable to the overall slowdown, he said the bank is not immune to the overall economic environment which is not much to write home about. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2JqAI...

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ICICI Bank Q2 net profit down, but asset quality improves; key figures in nutshell

Private sector lender ICICI Bank on Saturday posted a 6.09 per cent decline in consolidated net profit for the September quarter at Rs 1,131.20 crore. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/32Pem...

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Higher tax outgo, slippages in retail loans roil ICICI Bank, net down 6%

To a question on whether the rise in low grade loans is attributable to the overall slowdown, he said the bank is not immune to the overall economic environment which is not much to write home about. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2JqAI...

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ICICI Bank Q2 net profit down, but asset quality improves; key figures in nutshell

Private sector lender ICICI Bank on Saturday posted a 6.09 per cent decline in consolidated net profit for the September quarter at Rs 1,131.20 crore. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/32Pem...

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World Bank to continue with $6 billion annual lending support to India

World Bank President David Malpass has said the multi-lateral funding agency will continue with $ 6 billion lending target for India. World Bank right now has 97 projects with $24 billion committed. So, we expect the programme to continue and to reflect the projects and reforms that were going on in India. Maybe 5-6 billion dollars per year," he told media in an interaction. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2PshB...

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Seven of top-10 firms add Rs 76,998 cr in m-cap

The combined market capitalisation of seven of the 10 most valued Indian firms advanced by Rs 76,998.4 crore last week, with TCS leading the chart. Reliance Industries Limited (RIL), HUL, HDFC, ITC, ICICI Bank and SBI were the other firms which witnessed a jump in their market valuation for the week ended Friday, while HDFC Bank, Kotak Mahindra Bank and Infosys suffered losses. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2MMb8...

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ICICI Bank Q2 net profit down 6% to Rs 1,131.20 crore

ICICI Bank posted a 6.09% decline in consolidated net profit for the September quarter at Rs 1,131.20 crore. On standalone basis, ICICI Bank's net profit was down 27.93% to Rs 654.96 crore in July-September as against Rs 908.88 crore of the corresponding quarter last fiscal. It had reported a net profit of Rs 1,204.62 crore for the July-September period a year ago. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2WkdN...

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ICICI Bank Q2 net profit down 28% to ₹ 655 cr on tax impact

Private sector lender ICICI Bank reported a near 28 per cent drop in its net profit on the back of a higher one off tax expense in the second quarter from Business Line - Money & Banking https://ift.tt/363xy...

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PMC Bank scam: Director claims she is a victim too

In her anticipatory bail plea, Parmeet Sodhi, says she had recently deposited Rs 10 lakh of her own money in the bank. And, she fears arrest on her arrival in India, on October 28, since there is a look-out notice issued against her. from Banking/Finance-Industry-Economic Times https://ift.tt/2BGie...

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Mumbai Police, RBI administrator discuss auctioning of HDIL promoters’ assets

The city police discussed the matter with JB Bhoria, the RBI-appointed administrator of the bank, saying the proceeds raised from the auctions could be infused in the bank and be made available to the beleaguered depositors. from Banking/Finance-Industry-Economic Times https://ift.tt/2WgsV...

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Good show: Modest rise in spends, higher yields help boost SBI numbers

The domestic net interest margin (NIM) —a key measure of profitability — rose 21 basis points (bps) sequentially to 3.22%. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/345EY...

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SBI will cap FY20 slippages to 2% of loan book, says State Bank of India chairman

There are three-four large cases and we are hoping there will be a resolution. Leaving aside exceptional recovery, our PPOP (pre-provisioning operating profit) will be Rs 17,000 crore and we are close to achieving that by March 2020. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/366V4...

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Loan growth remains tepid even after loan melas, reveals RBI data

Aggregate loans disbursed by the commercial banks in the country rose Rs 21,645 crore during the fortnight ended October 11, to Rs 97.9 lakh crore, according to the latest data released by the Reserve Bank of India. from Banking/Finance-Industry-Economic Times https://ift.tt/2NbR7...

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ICICI Bank sells entire stake in GST Network to 13 state governments

As per the decision, the Centre will own a 50 per cent stake in the GST Network and the remainder will be held by the states on a pro-rata basis in the new structure. from Banking/Finance-Industry-Economic Times https://ift.tt/2N9ai...

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IRDAI forms panel to review applications

The Insurance Regulatory and Development Authority of India (IRDAI) has formed an eight-member panel to evaluate applications received under the regul from Business Line - Money & Banking https://ift.tt/2BKNF...

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SBI slippages down, profit triples in Q2; shares jump over 8%

State Bank of India (SBI) on Friday posted a fall in gross slippages and nearly six-fold jump in its consolidated net profit in the second quarter of FY20. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2qJMR...

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Men are getting separated from boys in the NBFC sector, says Piramal Enterprises chief

Surabhi /Thomas K ThomasMumbai, October 25The ₹5,400-crore capital-raise by Piramal Enterprises shows that even in the current environment there are p from Business Line - Money & Banking https://ift.tt/2MPvk...

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SBI reports lower bad loans and slippages, but sustainability will be key

The trend in slippages and core net interest income has been bumpy over the past year from Business Line - Money & Banking https://ift.tt/2MOhK...

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Digital Disruption: Bajaj Allianz Life’s i-SERV video calling service to be scaled up

Plans to extend the service to 11 languages from the six currently available from Business Line - Money & Banking https://ift.tt/2pNW4...

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SBI slippages down, profit triples in Q2; shares jump over 8%

State Bank of India (SBI) on Friday posted a fall in gross slippages and nearly six-fold jump in its consolidated net profit in the second quarter of FY20. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2qJMR...

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SBI reports lower bad loans and slippages, but sustainability will be key

The trend in slippages and core net interest income has been bumpy over the past year from Business Line - Money & Banking https://ift.tt/32Mxl...

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Irdai sets up panel to evaluate application under regulatory sandbox

Regulatory Sandbox (RS) usually refers to live testing of new products or services in a controlled/test regulatory environment for which regulators may permit certain relaxations for the limited purpose of testing. from Banking/Finance-Industry-Economic Times https://ift.tt/2p43Q...

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SBI net profit rises 30% to Rs 3,012 crore in Q2

The country's largest lender State Bank of India (SBI) on Friday reported a standalone net profit of Rs 3,011.73 crore for the quarter ended September 30, up 30.25% as compared to net profit of Rs 2,312.20 crore posted in the previous quarter. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2pcV1...

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SBI net surges to Rs 3,012 cr in Q2

Lifted by exceptional item of Rs 3,484 cr on account of partial sale of investment in life insurance arm from Business Line - Money & Banking https://ift.tt/2qLxv...

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PNB-UBI-OBC merger: Customers to get seamless banking services from April 1

The three banks have finalised 14 banking services, to begin with from day one itself. from Business Line - Money & Banking https://ift.tt/2NcqF...

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Edelweiss hopes to double Wealth Management advisory business in five years

Will add 10,000-15,000 new clients every month in the affluent and HNI segment from Business Line - Money & Banking https://ift.tt/2ML5c...

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Moratoria lapse: NPAs in wholesale loan book of non-banks to rise, says Crisil

Standalone NBFCs focused only on wholesale lending face relatively higher confidence deficit because of lingering concerns about asset quality. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2BHph...

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HFC home loan portfolio growth slows in Q1: Icra

Icra estimates that HFCs would require around Rs 4-4.5 lakh crore of fresh borrowings in FY20 to meet the growth requirement of 10-14% and a part of this requirement could also be met through the securitisation of portfolios. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2NcH1...

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PNB Housing Finance net rises 45% on higher NII

While the total income came in at Rs 2,230.34 crore, a 23.3% y-o-y increase, the tax expenses came down to Rs 59.16 crore from Rs 129.56 crore in the previous quarter. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/32Lu0...

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Bandhan Bank profit soars 99% on Gruh Finance buy

Microfinance loans accounted for 61% of Bandhan Bank’s loan book, Gruh’s book made up for 28%, while 9% of loans were to small and medium enterprises (SMEs). from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2paCs...

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Banks Board Bureau recommends CS Setty for the post as MD, SBI

The Banks Board Bureau (BBB) has recommended the apppintment of Challa Sreenivasulu Setty as a Managing Director (MD) in the State Bank of India (SBI from Business Line - Money & Banking https://ift.tt/2Nf6Z...

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IDFC First Bank has entered profit zone: CEO

Shrugging of the impact of the merger, IDFC First Bank finally entered into profitability in the second quarter of the fiscal despite the one-time imp from Business Line - Money & Banking https://ift.tt/2PhOs...

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Bandhan Bank's Q2 net profit rises 100 per cent to Rs 971 crore

Numbers are post merger with GRUH Finance from Business Line - Money & Banking https://ift.tt/3425L...

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Muthoot Capital to give e-bike credit as Q2 PAT falls 35%

Its initial foray into used car credit had fetched Rs 14-crore business from six centres in five states. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2N85r...

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Indian Bank Q2 net more than doubles to Rs 359 crore

Taking into consideration, the capital infusion of Rs 2,534 crore from the Centre, CAR increased to 14.52%. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/31Hj7...

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Muthoot Capital to give e-bike credit as Q2 PAT falls 35%

Its initial foray into used car credit had fetched Rs 14-crore business from six centres in five states. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2N85r...

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Indian Bank Q2 net more than doubles to Rs 359 crore

Taking into consideration, the capital infusion of Rs 2,534 crore from the Centre, CAR increased to 14.52%. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/31Hj7...

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Ease of doing business: India climbs 14 places

India jumped 14 places to the 63rd position on the World Bank's ease of doing business ranking released on Thursday, riding high on the government's flagship 'Make in India' scheme and other reforms attracting foreign investment. The country also figured among the top 10 performers on the list for the third time in a row. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2PgPz...

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Muthoot Capital to give e-bike credit as Q2 PAT falls 35%

Its initial foray into used car credit had fetched Rs 14-crore business from six centres in five states. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2N85r...

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Indian Bank Q2 net more than doubles to Rs 359 crore

Taking into consideration, the capital infusion of Rs 2,534 crore from the Centre, CAR increased to 14.52%. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/31Hj7...

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Muthoot Capital to give e-bike credit as Q2 PAT falls 35%

Its initial foray into used car credit had fetched Rs 14-crore business from six centres in five states. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2N85r...

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Indian Bank Q2 net more than doubles to Rs 359 crore

Taking into consideration, the capital infusion of Rs 2,534 crore from the Centre, CAR increased to 14.52%. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/31Hj7...

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Muthoot Capital to give e-bike credit as Q2 PAT falls 35%

Its initial foray into used car credit had fetched Rs 14-crore business from six centres in five states. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2N85r...

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Indian Bank Q2 net more than doubles to Rs 359 crore

Taking into consideration, the capital infusion of Rs 2,534 crore from the Centre, CAR increased to 14.52%. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/31Hj7...

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Muthoot Capital to give e-bike credit as Q2 PAT falls 35%

Its initial foray into used car credit had fetched Rs 14-crore business from six centres in five states. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2N85r...

Read more »

Indian Bank Q2 net more than doubles to Rs 359 crore

Taking into consideration, the capital infusion of Rs 2,534 crore from the Centre, CAR increased to 14.52%. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/31Hj7...

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Muthoot Capital to give e-bike credit as Q2 PAT falls 35%

Its initial foray into used car credit had fetched Rs 14-crore business from six centres in five states. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2N85r...

Read more »

Indian Bank Q2 net more than doubles to Rs 359 crore

Taking into consideration, the capital infusion of Rs 2,534 crore from the Centre, CAR increased to 14.52%. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/31Hj7...

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KPMG audit finds fund misuse by DHFL

The auditor has found instances where the mortgage lender has extended loans to entities that are linked to the promoters and in some cases repayments worth Rs 12,541 crores by 28 such entities are not traceable. from Banking/Finance-Industry-Economic Times https://ift.tt/2MEFW...

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Soon, you can pay via UPI all over the world

UPI, an interbank fund transfer mechanism run by the National Payments Corporation of India, will be available for use around the world starting with UAE &Singapore in the next six months. UPI recorded 955 million transactions in September from Banking/Finance-Industry-Economic Times https://ift.tt/2MEFV...

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Muthoot Capital to give e-bike credit as Q2 PAT falls 35%

Its initial foray into used car credit had fetched Rs 14-crore business from six centres in five states. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2N85r...

Read more »

Indian Bank Q2 net more than doubles to Rs 359 crore

Taking into consideration, the capital infusion of Rs 2,534 crore from the Centre, CAR increased to 14.52%. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/31Hj7...

Read more »

Muthoot Capital to give e-bike credit as Q2 PAT falls 35%

Its initial foray into used car credit had fetched Rs 14-crore business from six centres in five states. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2N85r...

Read more »

Indian Bank Q2 net more than doubles to Rs 359 crore

Taking into consideration, the capital infusion of Rs 2,534 crore from the Centre, CAR increased to 14.52%. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/31Hj7...

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Contagion risk in financial sector: Fitch says 30% of banks’ NBFC exposure could turn bad

Fitch said the difficult market environment could persist in the near term and put the resilience of the non-banking financial companies (NBFCs) through a rigorous test. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2BBy5...

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Asset under IDFC Mutual Fund crosses Rs 1 lakh crore

The fund house now manages over one million investor folios representing leading institutional, family-office and individual clients in over 200 cities from Business Line - Money & Banking https://ift.tt/35Ywz...

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NBFC sector stress to have impact on banks' recovery: Fitch

Systemic stress across India’s non-bank financial companies (NBFCs) would deal a significant setback to the banking sector’s recovery, reversing recen from Business Line - Money & Banking https://ift.tt/2oehE...

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India Post Payments Bank fights to survive

Sources said the model for the payments bank was flawed from the beginning as “too much money” was poured into technology, which is estimated at up to Rs 1,000 crore for setting up the core banking system (CSB) and other related technology. from Banking/Finance-Industry-Economic Times https://ift.tt/2p7qD...

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Despite privacy concerns, consumers using digital payments in a big way for festival shopping: Study

Digital payments are the preferred payment option for 42 per cent of consumers in India this festive season, with only one in 10 respondents claiming from Business Line - Money & Banking https://ift.tt/33XW8...

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Amex adds 6 lakh new merchants since 2017

The growth across the country is driven by increased demand from tier-I and tier-II cities where American Express Card members want to spend, the premium credit card and payment platform company said in a release. from Banking/Finance-Industry-Economic Times https://ift.tt/2of2C...

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ICICI Pru Life Insurance Q2 net profit almost flat at Rs 301 crore

ICICI Prudential Life Insurance posted an almost flat growth in net profit at Rs 301.86 crore in the second quarter of the fiscal year as against Rs 3 from Business Line - Money & Banking https://ift.tt/32GeP...

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S&P warns of rising risk of contagion in India’s financial sector

Failure of any large NBFC or HFC may deliver a solvency shock to lenders, an analyst says from Business Line - Money & Banking https://ift.tt/31F4R...

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Indian Overseas Bank links payout of additional benefits to branch staff with performance

Indian Overseas Bank (IOB) has decided to link payout of a list of additional benefits for staff members with performance against a series of paramete from Business Line - Money & Banking https://ift.tt/2BwGk...

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Aspire to be accepted in atleast 75 per cent of all locations in India’s premium cities: American Express official

The company’s Vice President & Head of Global Merchant Services said it has adding 6 lakh new merchants since 2017 from Business Line - Money & Banking https://ift.tt/32QFk...

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Consumers taking online, personal loans to fuel Diwali purchases

With the economy in a slowdown mode and many consumers facing a cash crunch at the month-end, small ticket personal loans seem to be fuelling a lot of from Business Line - Money & Banking https://ift.tt/2W6PZ...

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We are a little cautious in SME segment right now: Amitabh Chaudhry, MD and CEO, Axis Bank

We are a Rs 80,000-crore book on the corporate side. So, `1,000 crore is actually a really small amount in comparison. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2By2d...

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Bajaj Finance Q2 net soars 63%, Bajaj Finserv reports 71% rise in Q2 PAT

Despite economic conditions being sluggish, all the three businesses performed well under the difficult conditions, the company said. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2BBAs...

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Axis Bank posts Rs 112 crore loss on a Rs 2,137 crore tax write-down

The bank also holds additional provisions of Rs 2,600 crore towards various risk contingencies, over and above the regular NPA provisioning and the 0.4% standard assets provisioning requirement. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/31HSo...

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Kotak Mahindra Bank net rises 51% to Rs 1,724 crore

The bank has launched its first overseas branch at Dubai International Financial Centre in the quarter. Following the announcement of the results, shares of Kotak Mahindra Bank closed 0.83% higher at Rs 1,628.90 on the BSE. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2W2ZK...

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RBL Bank Q2: Asset quality slips, profit plunges

Sharp jump in provisioning and slippages have led to 73 per cent drop in profit from Business Line - Money & Banking https://ift.tt/2PbMw...

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Techfin firm Crediwatch raises ₹23-crore Series A funding

Bengaluru-based Crediwatch, a techfin company that builds artificial intelligence (AI) and machine learning (ML) tools to help the financial services from Business Line - Money & Banking https://ift.tt/2PbEX...

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We are a little cautious in SME segment right now: Amitabh Chaudhry, MD and CEO, Axis Bank

We are a Rs 80,000-crore book on the corporate side. So, `1,000 crore is actually a really small amount in comparison. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2By2d...

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Bajaj Finance Q2 net soars 63%, Bajaj Finserv reports 71% rise in Q2 PAT

Despite economic conditions being sluggish, all the three businesses performed well under the difficult conditions, the company said. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2BBAs...

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Axis Bank posts Rs 112 crore loss on a Rs 2,137 crore tax write-down

The bank also holds additional provisions of Rs 2,600 crore towards various risk contingencies, over and above the regular NPA provisioning and the 0.4% standard assets provisioning requirement. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/31HSo...

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Kotak Mahindra Bank net rises 51% to Rs 1,724 crore

The bank has launched its first overseas branch at Dubai International Financial Centre in the quarter. Following the announcement of the results, shares of Kotak Mahindra Bank closed 0.83% higher at Rs 1,628.90 on the BSE. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2W2ZK...

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India Post Payments Bank fights to survive

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/33XyJ...

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From hot cake to hot potato, mortgage lenders stare at a serious crisis

Mortgage is the safest piece in lending. But financial engineering for better returns made it vulnerable to liquidity risks. Both the govt and the RBI have taken measures to boost liquidity. But will it help in reviving the sector? from Banking/Finance-Industry-Economic Times https://ift.tt/31CqY...

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Credit goes to buyers for lifting festive sentiment

Credit-funded buys touch a record of about 75% for consumer durables, 55-60% for smartphones. Amazon India said around 40% of total sales during the festive season was driven by consumer finance and credit card purchases. from Banking/Finance-Industry-Economic Times https://ift.tt/35VHm...

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RBL Bank Q2 net profit down 73% as bad loans rise

Our BureauRBL Bank’s net profit fell by by over 73 per cent in the second quarter of the fiscal as provisions shot up by 280 per cent and bad loans from Business Line - Money & Banking https://ift.tt/35UNQ...

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Pine Labs partners with SBI; offers EMI facility for its debit card customers

Pine Labs, a merchant-focused company, is betting big on Equated Monthly Instalments (EMI) space, roping in State Bank of India (SBI) as its latest ba from Business Line - Money & Banking https://ift.tt/2N7wA...

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Kotak Mahindra Bank quarterly profit surges 51 per cent

Net profit rose 51.1% to 17.24 billion rupees ($243.15 million) for the three months to Sept. 30, compared with 11.42 billion rupees last year, the Mumbai-based private-sector lender said in a filing to the exchanges. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MZXu...

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Axis Bank posts Q2 net loss of ₹112.08 crore

This is due to deferred tax asset provision from Business Line - Money & Banking https://ift.tt/2W3ly...

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PMC: Court extends HDIL promoters' ED custody

A Mumbai court on Tuesday extended the ED custody of Housing Development and Infrastructure Limited (HDIL) promoters Rakesh Wadhawan and his son Sarang Wadhawan, arrested in connection with Rs 4,355 crore Punjab and Maharashtra Cooperative (PMC) Bank scam, till October 24. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2MFbd...

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Banks need to rapidly reinvent to strengthen profitability, boost returns: Report

The McKinsey's Global Banking Annual Review launched on Tuesday, warned that the bottom third of banks need to rapidly reinvent their business models in the face of continued threat posed by fintechs and big technology companies that are taking stakes in banking businesses. from Banking/Finance-Industry-Economic Times https://ift.tt/31Gux...

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Axis Mutual Fund picks battered Indian auto stocks

The S&P BSE Auto Index has declined 14 per cent so far this year from Business Line - Money & Banking https://ift.tt/2o6Ty...

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Nobel laureate Abhijit Banerjee warns against banking crisis

A word of caution came from Nobel laureate Abhijit Banerjee here on Tuesday when he has said that the banking crisis is frightening. “The balance shee from Business Line - Money & Banking https://ift.tt/32Mt5...

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PMC Bank scam: Ex-director’s police remand extended

Surjit Singh Arora is the fifth accused to be arrested in the case from Business Line - Money & Banking https://ift.tt/2JcpL...

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Kotak Mahindra Bank Q2 net profit up 51%

Private sector lender Kotak Mahindra Bank registered a 51 per cent increase in its net profit in the second quarter of the fiscal led by strong growth from Business Line - Money & Banking https://ift.tt/2P9yH...

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Kotak Mahindra Bank quarterly profit surges 51 per cent

Net profit rose 51.1% to 17.24 billion rupees ($243.15 million) for the three months to Sept. 30, compared with 11.42 billion rupees last year, the Mumbai-based private-sector lender said in a filing to the exchanges. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MZXu...

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Vreedhi Financial Services receives an NBFC licence

Vreedhi Financial Services have received an NBFC licence. While starting with a strong physical leg in the distribution business, the company will create a digital lending model by the next financial year. from Banking/Finance-Industry-Economic Times https://ift.tt/2N5DK...

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4 Tips to Inculcate Financial Discipline in Children

We know that children often mimic their parents’ behaviour when it comes to money and financial discipline imbibed young stays forever. Efficient money manag... from Banking/Finance-Industry-Economic Times https://ift.tt/31DyT...

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'Slowdown is of money flow, not consumption'

Lack of an India-centric understanding of issues affecting the economy, the prudential norms effective from 2014 which do not fit a bank-driven economy and a lack of proper assessment of consumer preferences have combined to feed the talk about an economic slowdown, says Tuglak magazine editor S Gurumurthy. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/31CfN...

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Banking operations affected due to bankers strike

The strike call was given by two unions - All India Bank Employees' Association and Bank Employees Federation of India - in protest of the closedown of six nationalized banks. from Banking/Finance-Industry-Economic Times https://ift.tt/32D7I...

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Bank strike affect normal operations

AIBEA and BEFI called for a strike to oppose big bank merger from Business Line - Money & Banking https://ift.tt/2qzin...

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RBI starts hunt for new director at IDRBT

The Reserve Bank of India (RBI) has notified recruitment to the post of Director, Institute for Development and Research in Banking Technology (IDRBT) from Business Line - Money & Banking https://ift.tt/35SLH...

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Resolution delay forces banks to put NPAs on sale

Assets worth Rs 40,000 crore are up for sale in sectors such as power, roads, telecom in the first half of FY20. 34% of cases under IBC delayed as of June, up from 26% a year ago. The code is one of the signature reforms of the Modi govt. from Banking/Finance-Industry-Economic Times https://ift.tt/2p45M...

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Soon, you can subscribe to NPS via Paytm

PFRDA in talks with fintech, e-wallet firms to expand pension scheme coverage from Business Line - Money & Banking https://ift.tt/2P7Xw...

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PMC scam fallout: RBI may increase insurance cover for depositors

The Reserve Bank of India is examining the possibility of increasing the insurance cover for bank deposits from Rs 1 lakh currently.According to a new from Business Line - Money & Banking https://ift.tt/35V3F...

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SBI seeks government help to salvage Rs 1 lakh cr gas plants

In a letter to the finance ministry, SBI has sought an immediate policy intervention to revive gas-based plants worth about Rs 1 lakh crore from becoming non-performing assets. The bank has also sought bringing natural gas under the ambit of GST. from Banking/Finance-Industry-Economic Times https://ift.tt/2pFD2...

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Loan sell-downs help NBFCs, HFCs raise Rs 2.4 lakh crore in one year: Icra

As per Icra estimates, the volume of pass through certificate (PTC) transactions was around Rs 92,000 crore, while direct assignment (DA) transactions have been much higher at Rs 1.46 lakh crore between October 2018 and September 2019. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2N0m8...

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Loan sell-downs help NBFCs, HFCs raise Rs 2.4 lakh crore in one year: Icra

As per Icra estimates, the volume of pass through certificate (PTC) transactions was around Rs 92,000 crore, while direct assignment (DA) transactions have been much higher at Rs 1.46 lakh crore between October 2018 and September 2019. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2N0m8...

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Banking services likely to get affected on 22nd Oct as unions threaten strike

Two bank unions have threatened a 24-hour strike against the recently announced bank mergers and banking activities are likely to get hit on Tuesday, 22 October. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/32Ilt...

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Banking services likely to get affected on 22nd Oct as unions threaten strike

Two bank unions have threatened a 24-hour strike against the recently announced bank mergers and banking activities are likely to get hit on Tuesday, 22 October. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/32Ilt...

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121% rise in detection of ₹500 fake currency notes

Palak ShahIt is not just ₹2,000 fake notes that are on the rise. Even ₹500 currency fake notes have been discovered in large numbers, according to dat from Business Line - Money & Banking https://ift.tt/2MAQD...

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Banking services likely to get affected on 22nd Oct as unions threaten strike

Two bank unions have threatened a 24-hour strike against the recently announced bank mergers and banking activities are likely to get hit on Tuesday, 22 October. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/32Ilt...

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Banking operations may be affected due to strike on Tuesday

Services in state-owned banks may be affected as some of the employees unions have decided to observe nation-wide strike on Tuesday to protest against bank mergers and fall in deposit rates. However, officers and private sector banks are not part of the strike call given by All India Bank Employees Association (AIBEA) and Bank Employees Federation of India (BEFI). from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/31ApQ...

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Securitisation volumes to remain strong in the near term, says ICRA

Non-banking finance companies (NBFCs) and housing finance companies (HFCs) together raised much needed funding to the tune of Rs. 2.36 lakh crore over from Business Line - Money & Banking https://ift.tt/32B04...

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Ujjivan Small Finance Bank Q2 net profit up 111%

Says committed to meeting listing deadline of Jan 2020 from Business Line - Money & Banking https://ift.tt/2VY1g...

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To revive UCBs, DICGC urged to create corpus in Deposit Insurance Fund

The Deposit Insurance and Credit Guarantee Corporation (DICGC) should create a revival and merger fund with a corpus of 10 per cent of the amount in t from Business Line - Money & Banking https://ift.tt/2W1i8...

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With imminent exit of IDBI Bank, IDBI Federal Life Insurance looks to grow other proprietary channels

Faced with the imminent exit of one of its promoters and muted growth, private sector IDBI Federal Life Insurance is developing other proprietary chan from Business Line - Money & Banking https://ift.tt/2P52l...

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Andhra Bank opens sale of sovereign gold bonds

Andhra Bank has commenced sale of Sovereign Gold Bonds as part of the 2019-20 Series - VI scheme notified by the Government.The issue price during th from Business Line - Money & Banking https://ift.tt/2BzpS...

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Govt does not care about PMC Bank depositors: Sitaram Yechury

CPI(M) general secretary Sitaram Yechury on Monday alleged that despite the PMC Bank depositors being in “dire straits”, the government does not care from Business Line - Money & Banking https://ift.tt/35Tm0...

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Banking services likely to get affected on 22nd Oct as unions threaten strike

Two bank unions have threatened a 24-hour strike against the recently announced bank mergers and banking activities are likely to get hit on Tuesday, 22 October. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/32Ilt...

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Veritas Finance crosses ₹1,000 crore in AUM

Chennai-based non-banking lender Veritas Finance announced that its assets under management (AUM) has crossed ₹1,000 crore in September 2019.The non-b from Business Line - Money & Banking https://ift.tt/2P10a...

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UBS cutting up to 30 banking jobs in Asia Pacific after combining its businesses, says source

UBS will cut up to 30 jobs in the major centres of Hong Kong, Singapore, Sydney and Tokyo after combining its global markets and banking businesses, a person with knowledge of the matter said. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Pblp...

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FIR against J&K Bank ex-chief, 23 others for Rs 1,100-crore fraud

According to an ACB release, officers of the bank’s Mahim branch in Mumbai and a branch in New Delhi allegedly sanctioned loans worth Rs 800 crore in favour of REI Agro based on “fake documents and in violation of the laid down banking procedure during the year 2011-2013’’. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/35R5p...

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UBS cutting up to 30 banking jobs in Asia Pacific after combining its businesses, says source

UBS will cut up to 30 jobs in the major centres of Hong Kong, Singapore, Sydney and Tokyo after combining its global markets and banking businesses, a person with knowledge of the matter said. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Pblp...

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FIR against J&K Bank ex-chief, 23 others for Rs 1,100-crore fraud

According to an ACB release, officers of the bank’s Mahim branch in Mumbai and a branch in New Delhi allegedly sanctioned loans worth Rs 800 crore in favour of REI Agro based on “fake documents and in violation of the laid down banking procedure during the year 2011-2013’’. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/35R5p...

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UBS cutting up to 30 banking jobs in Asia Pacific after combining its businesses, says source

UBS will cut up to 30 jobs in the major centres of Hong Kong, Singapore, Sydney and Tokyo after combining its global markets and banking businesses, a person with knowledge of the matter said. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Pblp...

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FIR against J&K Bank ex-chief, 23 others for Rs 1,100-crore fraud

According to an ACB release, officers of the bank’s Mahim branch in Mumbai and a branch in New Delhi allegedly sanctioned loans worth Rs 800 crore in favour of REI Agro based on “fake documents and in violation of the laid down banking procedure during the year 2011-2013’’. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/35R5p...

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India unit driving BNY Mellon’s transformation

The company has 15,000 people in India across tech and ops — about a third of total headcount. The transformation seems to be at variance with the trend of slowdown in revenue from the banking and financial services sector for IT services firms. from Banking/Finance-Industry-Economic Times https://ift.tt/31zn6...

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Stiff fines drive third-party motor insurance business

Insurers said that the stricter enforcement of penalties by the police has led to this massive surge in customers buying mandatory third-party motor insurance. Under the new provisions, driving an uninsured vehicle will lead to a fine of Rs 2,000. from Banking/Finance-Industry-Economic Times https://ift.tt/2BFER...

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Sharp rise in detection of `fake' ₹500 notes

Overall more than 3.17 lakh pieces of fake currency notes discovered including the 2000s, 500s, 200s, 100s, 20s and 10s. from Business Line - Money & Banking https://ift.tt/2p0Mj...

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Maharashtra govt explores possibility of PMC bank merger: Devendra Fadnavis

The Maharashtra Government under Chief Minister Devendra Fadnavis is exploring the possibility of merging the scam-tainted Punjab and Maharashtra Co-o from Business Line - Money & Banking https://ift.tt/2Muyl...

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PMC Bank crisis: Money stuck for over a month, depositors stare at uncertain future

Malviya Nagar resident Ravindra Kumar Jha (40), an interior designer by profession, said he was struggling to pay the school fees of his two children and manage the household expenses. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/33JQC...

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PMC Bank crisis: Money stuck for over a month, depositors stare at uncertain future

Malviya Nagar resident Ravindra Kumar Jha (40), an interior designer by profession, said he was struggling to pay the school fees of his two children and manage the household expenses. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/33JQC...

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PMC Bank crisis: Money stuck for over a month, depositors stare at uncertain future

Malviya Nagar resident Ravindra Kumar Jha (40), an interior designer by profession, said he was struggling to pay the school fees of his two children and manage the household expenses. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/33JQC...

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PMC Bank crisis: Money stuck for over a month, depositors stare at uncertain future

Malviya Nagar resident Ravindra Kumar Jha (40), an interior designer by profession, said he was struggling to pay the school fees of his two children and manage the household expenses. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/33JQC...

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PMC Bank crisis: Money stuck for over a month, depositors stare at uncertain future

Malviya Nagar resident Ravindra Kumar Jha (40), an interior designer by profession, said he was struggling to pay the school fees of his two children and manage the household expenses. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/33JQC...

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PMC Bank crisis: Money stuck for over a month, depositors stare at uncertain future

Malviya Nagar resident Ravindra Kumar Jha (40), an interior designer by profession, said he was struggling to pay the school fees of his two children and manage the household expenses. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/33JQC...

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Non-scheduled urban coop banks seek ease in provisioning norms

These banks fear that their deposits in PMC Bank will turn into non-performing investments from Business Line - Money & Banking https://ift.tt/31wvK...

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PMC Bank crisis: Money stuck for over a month, depositors stare at uncertain future

Malviya Nagar resident Ravindra Kumar Jha (40), an interior designer by profession, said he was struggling to pay the school fees of his two children and manage the household expenses. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/33JQC...

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PMC Bank crisis: Money stuck for over a month, depositors stare at uncertain future

Malviya Nagar resident Ravindra Kumar Jha (40), an interior designer by profession, said he was struggling to pay the school fees of his two children and manage the household expenses. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/33JQC...

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SBI to conduct e-auction of 11 accounts to recover dues of Rs 467 crore

Maharastra Steels Pvt Ltd (Rs 40.51 crore), Anshul Steel Ltd (Rs 37.70 crore) and Vidhata Metals (Rs 36.98 crore) are the other accounts to be auctioned. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2J5UR...

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Want to get home loan details in your local language? Check HDFC website

HDFC website content is now also available in Hindi, Marathi, Tamil, Telugu, Malayalam and Kannada, even as English continues to be a widely used language on digital platforms in India from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2J6wx...

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SBI to conduct e-auction of 11 accounts to recover dues of Rs 467 crore

Maharastra Steels Pvt Ltd (Rs 40.51 crore), Anshul Steel Ltd (Rs 37.70 crore) and Vidhata Metals (Rs 36.98 crore) are the other accounts to be auctioned. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2J5UR...

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Want to get home loan details in your local language? Check HDFC website

HDFC website content is now also available in Hindi, Marathi, Tamil, Telugu, Malayalam and Kannada, even as English continues to be a widely used language on digital platforms in India from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2J6wx...

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SBI to conduct e-auction of 11 accounts to recover dues of Rs 467 crore

SBI said the financial assets were showcased on Oct 12 and the e-auction will take place on Nov 7. The auction for the accounts will be held under the 'Swiss Challenge Method', based on an existing offer in hand, who will have the right to match the highest bid. from Banking/Finance-Industry-Economic Times https://ift.tt/33MJS...

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SVC Bank denies reports on merger with PMC Bank

The SVC Co-operative Bank has denied reports of merger with the crisis-hit Punjab and Maharashtra Co-operative (PMC) Bank.“We have come across a rumou from Business Line - Money & Banking https://ift.tt/33JFg...

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HDFC localises website in six Indian languages

The mortgage lender said that the website content is now also available in Hindi, Marathi, Tamil, Telugu, Malayalam and Kannada, even as English continues to be a widely used language on digital platforms in India, HDFC said. from Banking/Finance-Industry-Economic Times https://ift.tt/35Q66...

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Will Axis Bank emulate HDFC Bank performance?

Most analysts expect Axis Bank to report a drop in Q2 PAT from Business Line - Money & Banking https://ift.tt/2o30X...

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Make sure insurance ads are clear, fair and not misleading: Irdai to insurers

The insurance regulator issued a circular laying out guidelines for dos and don'ts for insurance companies to comply with. It also laid out the structure for communications made through internet for clarity of prospective customers. from Banking/Finance-Industry-Economic Times https://ift.tt/31x6K...

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How HDFC Bank Q2 profit jumped 27% despite lower growth in core net interest income

A boost from other income and lower tax aided earnings. While overall loan growth was healthy, retail loan growth slowed considerably from Business Line - Money & Banking https://ift.tt/32s3c...

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Many countries have cautioned on rushing into crypto currencies: Nirmala Sitharaman

Many countries have cautioned against rushing into crypto currencies, Union Finance Minister Nirmala Sitharaman said on Sunday, as Facebook's proposed virtual currency Libra became a buzzword during the annual meeting of the International Monetary Fund and the World Bank. In fact, Reserve Bank of India Governor Shantikanta Das spoke about crypto currencies during one of the interventions this week. The RBI has banned the use of cryptocurrencies in India. from Business News: Latest News on Business, Stock Markets, Financial News, India Business...

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IMF chief says building 'peer pressure' to follow trade rules

As the United States and China remain engulfed in a massive tariff battle and with Brexit turmoil continuing on Saturday, trade overshadowed the discussions of finance officials gathered for the annual meetings of the International Monetary Fund and World Bank. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/32zd5...

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HDFC Bank net profit jumps 27% to Rs 6,345 crore in Q2

In a statement, HDFC Bank said the key components for provisions for the quarter were specific loan loss of Rs 2,038 crore, as against Rs 1,820 crore for the corresponding quarter of the previous year, and general and other provisions worth Rs 663 crore, as against Rs 247.5 crore for Q2FY19. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Bnzx...

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HDFC Bank net profit jumps 27% to Rs 6,345 crore in Q2

In a statement, HDFC Bank said the key components for provisions for the quarter were specific loan loss of Rs 2,038 crore, as against Rs 1,820 crore for the corresponding quarter of the previous year, and general and other provisions worth Rs 663 crore, as against Rs 247.5 crore for Q2FY19. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Bnzx...

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