DCB Bank Q3 net profit up 13%

DCB Bank registered a 12.8 per cent increase in its net profit during the third quarter of 2019-20 at ₹97 crore as compared to ₹86 crore in the corre from Business Line - Money & Banking https://ift.tt/38Ij8...

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Non-life insurers can offer standard health policies before April 1

In a circular dated April January 24, 2020, the Insurance Regulatory and Development Authority of India (IRDAI) said insurers can offer the 'Arogya Sanjeevani Policy' - the standard health insurance policy before April 1, 2020. from Banking/Finance-Industry-Economic Times https://ift.tt/2sXLB...

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NPA worries: BoB posts Rs 1,400-crore loss as slippages rise

Fresh bad loans shot up 73% sequentially to Rs 10,387 crore and and provisions surged 156% y-o-y to Rs 7,155 crore from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2GrGI...

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LV Prabhakar appointed as MD of Canara Bank

The central government appoints L V Prabhakar as MD and CEO with effect from February 1, 2020, and up to the date of his attaining the age of superannuation December 31, 2022 or until further orders. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Ghrb...

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Muthoot Capital Services Q3 net down 23%

Muthoot Capital Services on Saturday reported a decline of 22.77 per cent in standalone net profit at ₹18.95 crore for the third quarter ended Dece from Business Line - Money & Banking https://ift.tt/38xPU...

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ICICI Bank Q3 net profit rises over two-fold to Rs 4,146 crore

Private sector lender ICICI Bank on Saturday reported a 158 per cent jump in its standalone net profit at Rs 4,146.46 crore for the third quarter ended December 2019. It had registered a net profit of Rs 1,604.91 crore in the October-December period a year ago, ICICI Bank said in a BSE filing. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2voNj...

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ICICI Bank net rises over two-fold to Rs 4,146 cr in Q3

Private sector lender ICICI Bank’s net profit more than doubled in the third quarter of the fiscal led by strong revenue growth and improvement in ass from Business Line - Money & Banking https://ift.tt/2RP9J...

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Left with no other option but to strike, says UFBU

The United Forum of Bank Unions (UFBU), the umbrella union of nine trade unions in the banking sector, said it will certainly consider a review of its from Business Line - Money & Banking https://ift.tt/2urM8...

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Government nominates Debashish Panda on SBI Central Board

State Bank of India on Saturday said the central government has nominated Debashish Panda, Special Secretary, Department of Financial Services, Minist from Business Line - Money & Banking https://ift.tt/2O04g...

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Paytm moves against fraudsters, files FIR

To fight the rising menace of online fraud by cyber crooks resulting in consumers losing money, Paytm Payments Bank — which houses the Paytm e-wallet — has handed over 3,500 numbers to the Telecom Regulatory Authority of India, the ministry of home affairs and CERT-In, the cybersecurity agency. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2NXEh...

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Monetary policy has limits, need structural reforms: RBI governor

Reserve Bank of India governor Shaktikanta Das on Friday called for structural reforms and fiscal measures to activate growth, saying monetary policy has its limits. Das said that states should also play an important role by enhancing capital expenditure which has high multiplier effect. His comments come days ahead of the Union Budget on February 1. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2ux5p...

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LV Prabhakar appointed as MD of Canara Bank

The central government appoints L V Prabhakar as MD and CEO with effect from February 1, 2020, and up to the date of his attaining the age of superannuation December 31, 2022 or until further orders. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Ghrb...

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LV Prabhakar appointed as MD of Canara Bank

The central government appoints L V Prabhakar as MD and CEO with effect from February 1, 2020, and up to the date of his attaining the age of superannuation December 31, 2022 or until further orders. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Ghrb...

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LV Prabhakar appointed as MD of Canara Bank

The central government appoints L V Prabhakar as MD and CEO with effect from February 1, 2020, and up to the date of his attaining the age of superannuation December 31, 2022 or until further orders. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Ghrb...

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Secular growth helps Indian Bank post 62% rise in Q3 net

Chennai-headquartered public sector lender Indian Bank on Friday reported a 62% rise in its net profit to Rs 247 crore for the third quarter of the current fiscal, compared with Rs 152 crore in the corresponding quarter last fiscal. Total income increased 23% to Rs 6,506 crore as against Rs 5,269 crore. Padmaja Chunduru, MD […] from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2tDQw...

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Bank of Baroda reports Rs 1,407 crore loss for Q3

BoB, which merged Dena Bank and Vijaya Bank with itself earlier this year, said its total income increased to Rs 21,809.08 crore during the quarter under review as against Rs 14,562.85 crore in the year-ago period. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Rp9I...

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Secular growth helps Indian Bank post 62% rise in Q3 net

Chennai-headquartered public sector lender Indian Bank on Friday reported a 62% rise in its net profit to Rs 247 crore for the third quarter of the current fiscal, compared with Rs 152 crore in the corresponding quarter last fiscal. Total income increased 23% to Rs 6,506 crore as against Rs 5,269 crore. Padmaja Chunduru, MD […] from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2tDQw...

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LV Prabhakar appointed as MD of Canara Bank

The central government appoints L V Prabhakar as MD and CEO with effect from February 1, 2020, and up to the date of his attaining the age of superannuation December 31, 2022 or until further orders. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Ghrb...

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Bank of Baroda reports Rs 1,407 crore loss for Q3

BoB, which merged Dena Bank and Vijaya Bank with itself earlier this year, said its total income increased to Rs 21,809.08 crore during the quarter under review as against Rs 14,562.85 crore in the year-ago period. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Rp9I...

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Secular growth helps Indian Bank post 62% rise in Q3 net

Chennai-headquartered public sector lender Indian Bank on Friday reported a 62% rise in its net profit to Rs 247 crore for the third quarter of the current fiscal, compared with Rs 152 crore in the corresponding quarter last fiscal. Total income increased 23% to Rs 6,506 crore as against Rs 5,269 crore. Padmaja Chunduru, MD […] from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2tDQw...

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Bank of Baroda reports Rs 1,407 crore loss for Q3

BoB, which merged Dena Bank and Vijaya Bank with itself earlier this year, said its total income increased to Rs 21,809.08 crore during the quarter under review as against Rs 14,562.85 crore in the year-ago period. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Rp9I...

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Operations may be impacted due to bank unions’ two-day strike: SBI

The bank has however made all arrangements to ensure normal functioning in its branches and offices, the State Bank of India (SBI) said in a filing to the BSE. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/38LuC...

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Governor Shaktikanta Das sets broader financial stability as the central bank's immediate policy-making priority

He said that the focus on price stability as the sole objective of monetary policy has been questioned after the global financial crisis, underscoring the need for adopting a flexible inflation target to achieve macro-financial stability. “In this milieu, financial stability has emerged as another key consideration for monetary policy." from Banking/Finance-Industry-Economic Times https://ift.tt/2sVpS...

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Higher provisioning pushes BoB into red with ₹1,407-crore net loss

This is despite a ₹790-cr write-back in tax provision from Business Line - Money & Banking https://ift.tt/2Rpbb...

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Structural reforms, fiscal measures may have to continue to boost growth, demand: Das

States can enhance capital expenditure, says RBI Governor from Business Line - Money & Banking https://ift.tt/37kdN...

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Canara Bank profit rises 4% to ₹330 crore

Bengaluru-based Canara Bank expects deposits and advances to grow more than 10 per cent and 13 per cent, respectively, during the current fiscal. The from Business Line - Money & Banking https://ift.tt/2RLTG...

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Indian Bank net up 62%, biz tops ₹4.5 trillion

Public sector lender Indian Bank has reported a 62 per cent rise in net profit to ₹247 crore for the quarter ended December 31, 2019 when compared wi from Business Line - Money & Banking https://ift.tt/2RpSG...

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Growth of credit cards, personal loans trebles in 5 years

Unsecured loans continue to grow by 20-25% even as lending to corporates remains muted from Business Line - Money & Banking https://ift.tt/37pUF...

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HDFC Equity Fund – A Multi cap fund

HDFC Equity Fund – A Multi cap fund with history of 25 years It is extremely difficult for an average investor to understand the valuations of large -, mid- ... from Banking/Finance-Industry-Economic Times https://ift.tt/3aHg8...

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HDFC Overnight Fund

Imagine that you have planned a trip for a few days. But before you leave, you make sure all your valuable things, which you are not going to need for the ne... from Banking/Finance-Industry-Economic Times https://ift.tt/2ROYw...

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Mastercard makes an investment in Pine Labs

NYSE-listed Mastercard, a technology company in the global payments industry, has made an investment in Pine Labs, a leading merchant commerce platfor from Business Line - Money & Banking https://ift.tt/38Ejc...

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HDFC Bank taps executive search firm Egon Zehnder to identify MD Aditya Puri’s successor

Four sources familiar with the discussions told Reuters that a six-member internal search committee, appointed in November last year, has been unable to reach a consensus on selecting a successor to Puri, who has been at the helm of HDFC Bank since its inception in 1994. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2tLVp...

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Analyst Corner: Liability profile for Axis Bank remains strong

NIM came at 3.57%, 6 bps higher sequentially. While improving spread led to 6 bps of positive delta qoq, impact of higher slippages (~7 bps) was offset by margin benefit from capital raise (~7 bps). from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2GmKZ...

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Operations may be impacted due to bank unions' two-day strike: SBI

Bank unions have called for a two-day nationwide strike on January 31 and February 1 after talks over wage revision failed to make headway with the Indian Banks' Association (IBA). SBI said its operations might get affected somewhat due to strikes however it assured normal functioning in its branches and offices. from Banking/Finance-Industry-Economic Times https://ift.tt/30QWh...

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India needs foreign capital to fund record borrowing: IDFC Asset Management

A bond fund manager who correctly predicted that Reserve Bank of India (RBI)would introduce a United States (US) Federal Reserve style Operation Twis from Business Line - Money & Banking https://ift.tt/2TPAi...

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Axis Bank strengthening its foothold in TN

Our Bureau If Tamil Nadu is the second largest State in terms of economic growth, it is a crucial business geography for Axis Bank, said its Presiden from Business Line - Money & Banking https://ift.tt/2RiUR...

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RBI penalises two UCBs for non-compliance

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹37 lakh on the Rajkot Nagarik Sahakari Bank Ltd for non-compliance with directions from Business Line - Money & Banking https://ift.tt/37mAZ...

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Oriental Bank net up 39.4%

Oriental Bank of Commerce (OBC) on Thursday reported a 39.4 per cent increase in net profit for the third quarter ended December 31, 2019 at ₹202 cror from Business Line - Money & Banking https://ift.tt/2NTTf...

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MoneyGram aims to become leader in cross-border payment services

Sees recent exclusive partnership with EbixCash help fulfil this ambition in India from Business Line - Money & Banking https://ift.tt/2TSKx...

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Home Credit joins hands with HDFC Ergo, Bajaj Allianz Life

Our Bureau Home Credit India on Thursday announced it has acquired a corporate agency license to provide health life insurance.“While health insurance from Business Line - Money & Banking https://ift.tt/2TNTz...

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Cholamandalam posts 28% rise in Q3 net; AUM crosses ₹65,000 crore

Our Bureau Cholamandalam Investment & Finance Company Ltd (CIFCL) has posted a 28 per cent growth in its net profit to ₹389 crore for the third q from Business Line - Money & Banking https://ift.tt/30RGc...

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HDFC Life Insurance Q3 profit edges up by 2%

Private sector HDFC Life Insurance posted a 1.9 per cent increase in its net profit in the third quarter of the fiscal at ₹250.24 crore. Its net profi from Business Line - Money & Banking https://ift.tt/30Pu0...

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SBI chairman Rajnish Kumar is sure of “some solutions will emerge” to save Yes Bank from failing

Rajnish Kumar’s statement follows speculation that the government, which controls State Bank of India, may ask the lender to play a role in bailiing out the private-sector Yes Bank. However, last month Kumar said it was “out of the question that SBI will do anything for Yes Bank.” from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2TMrN...

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Dhaka Bank eyes Kolkata to set up first offshore branch

After Kolkata, Dhaka Bank will set sight on north-eastern states for rolling out branches where trade, commerce and people to people connection are upbeat. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/3ayFV...

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DHFL loss widens sharply in the September quarter

With results pertaining to an earlier period, the RBI-appointed administrator and advisory committee take no responsibility to the accuracy of the figures from Business Line - Money & Banking https://ift.tt/2RVNP...

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Nippon Life India Asset Management Q3 PAT up 36%

Nippon Life India Asset Management on Thursday reported a 36 per cent jump in profit after tax (PAT) at ₹149 crore for the third quarter ended Decemb from Business Line - Money & Banking https://ift.tt/37ll2...

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Sensex rises 271 points on value buying, L&T up 3%

Market benchmark sensex rose by 271 points on Thursday on the back of gains in index heavyweights Infosys, L&T, ICICI Bank and SBI, despite massive a selloff in global equities. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2NQe6...

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HDFC to tap Egon Zehnder to identify Aditya Puri's successor

The board's decision to recruit a global head-hunting firm comes as a six-member internal search committee, appointed in November last year, has not been able to reach a consensus on selecting a successor to Puri. from Banking/Finance-Industry-Economic Times https://ift.tt/37g4p...

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Razorpay eyeing leadership position in internet payments space for businesses, says CEO Mathur

Razorpay, a full-stack financial services company, is looking to emerge as the largest internet payments service provider for businesses this year, it from Business Line - Money & Banking https://ift.tt/2RL6r...

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Key Features & Benefits of Investing in Axis Long Term Equity Fund

Investors are constantly looking for efficient tax saving investment schemes which can help them earn some extra income too. If you have an appetite for risk... from Banking/Finance-Industry-Economic Times https://ift.tt/2RFqJ...

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What are the dual advantages of investing in ELSS?

All businessmen as well as working professionals want to save as much tax as possible. That’s because the tax is an expenditure just like any other expense, ... from Banking/Finance-Industry-Economic Times https://ift.tt/2Rhkx...

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Shriram Capital halts three-way merger after RBI request

The unlisted Shriram Capital, which counts billionaire Ajay Piramal and private equity firm TPG Capital as investors, was planning to combine with its publicly traded units Shriram Transport Finance Co. and Shriram City Union Finance Ltd. from Banking/Finance-Industry-Economic Times https://ift.tt/3axhU...

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RBI staff body sees ‘problems’ in supervisory functions; seeks review of mechanism

Reserve Bank of India (RBI) employees have sought a ‘thorough’ review of recent changes brought in the supervisory functions of the bank and the prese from Business Line - Money & Banking https://ift.tt/2RHdn...

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Axis Bank net profit grows by 4.6%, provisioning pressure persists

Gross NPA stood at 5% compared to 5.03% a quarter ago. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Rkms...

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RBL Bank net dives 69%

Gross non-performing assets (NPAs) rose 73 basis points from the end of September to 3.33% of the loan book and net NPAs were up 51 bps sequentially at 2.07%. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2umxf...

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Ujjivan SFB posts 98% y-o-y rise in net profit, led by higher NII and other income

Provisions stood at Rs 30.53 crore, against Rs 24.79 crore in the September quarter. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/37hWx...

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Paytm plans to double its growth in Tamil Nadu, Kerala

Digital payments solutions company Paytm is looking to double its merchant user base in South India to more than seven million in the next financial y from Business Line - Money & Banking https://ift.tt/2TOeI...

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Banned cryptocurrency to uphold integrity of banking system: RBI

The central bank, through senior advocate Shyam Divan, argued that though there was no formal ban on cryptocurrencies under any law in existence in India, it had consistently been warning all those dealing with virtual currencies of the risks inherent in them. from Banking/Finance-Industry-Economic Times https://ift.tt/2Gd51...

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Now, send or receive money overseas without visiting bank; Airtel plans game-changing move

Mobile phones and mobile-based payment solutions have brought a revolution to the financial inclusion in India. India is likely to have as many as 62.3 crore unique mobile phone users by the year 2025, with 483 million mobile internet users. This will account for 66 per cent penetration of mobile devices in the second-most populous country. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/36fU0...

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CreditAccess reports 8% increase in Q3 net; Board approves modified exchange ratio for Madura Micro Finance buy

Bengaluru-headquartered CreditAccess Grameen Ltd on Wednesday reported a 8 per cent increase in net profit at ₹108 crore in the third quarter ended D from Business Line - Money & Banking https://ift.tt/2ulCH...

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Ujjivan SFB net zooms 98%

Ujjivan Small Finance Bank has reported a near doubling of its net profit to ₹89.66 crore in the third quarter of the fiscal as compared to ₹45.31 cr from Business Line - Money & Banking https://ift.tt/38pix...

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Axis Bank Q3 profit up 4.5% at ₹1,757 cr

Private sector lender Axis Bank reported a 4.5 per cent increase in its net profit in the third quarter of the fiscal with healthy growth in balance s from Business Line - Money & Banking https://ift.tt/3avnj...

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Silicon Valley Bank to hire 200 employees for Bengaluru office

Silicon Valley Bank, ​a ​subsidiary of SVB Financial Group, plans to hire over 200 people for its Bengaluru office. SVB is one of the largest banks in from Business Line - Money & Banking https://ift.tt/2RDZ4...

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City Union Bank launches all-in-one app with multilingual chat-bot

City Union Bank (CUB) has introduced its multilingual interactive voice-based all-in-one mobile app. The customers can converse with the chat-bot ‘As from Business Line - Money & Banking https://ift.tt/2Rjxf...

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Axis Bank Q3: Slippages rise; credit growth remains healthy

Persisting weak credit environment and fresh stress emerging in certain companies and sectors, have weighed on Axis Bank’s otherwise healthy core per from Business Line - Money & Banking https://ift.tt/2vg4N...

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Slowdown: Srei not chasing growth, but focused on preserving profitability

Bullish on equipment finance, not keen on infra finance: Vice-Chairman Sunil Kanoria from Business Line - Money & Banking https://ift.tt/2RgWm...

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Axis Bank Q3 profit up 4.5% at Rs 1,757 crore

Private sector lender Axis Bank on Wednesday reported a 4.5 per cent year-on-year jump in net profit at Rs 1,757 crore for the third quarter ended December 2019. The company had posted a net profit of Rs 1,680.85 crore in the corresponding quarter last year. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2RgBY...

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RBL Bank’s net drops 69% as provisions balloon

‘Challenges in a few corporate accounts have hurt bottom line’ from Business Line - Money & Banking https://ift.tt/2Ga0S...

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SBI Life Q3 net profit up 47% at ₹390 crore

SBI Life Insurance on Wednesday reported a 47.4 per cent growth in profit after tax (PAT) at ₹389.44 crore for the third quarter ended December 201 from Business Line - Money & Banking https://ift.tt/2um5K...

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Fincare Small Finance Bank opens Thiruvananthapuram branch

Fincare Small Finance Bank has opened its first branch in Thiruvananthapuram, boosting its network in Kerala to four. The small finance bank (SFB) ha from Business Line - Money & Banking https://ift.tt/2tGex...

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ICICI Lombard gets IRDAI nod to pilot five projects under Sandbox

ICICI Lombard on Wednesday said it has received Insurance Regulatory and Development Authority of India’s (IRDAI) ’s approval to pilot five innovati from Business Line - Money & Banking https://ift.tt/30GDd...

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5 Reasons to choose Equity Linked Saving Scheme (ELSS) Fund

When you invest your hard-earned money in the equity market, there are chances that you might lose some of it. But if you choose your investment wisely and i... from Banking/Finance-Industry-Economic Times https://ift.tt/36ccW...

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Airtel, Western Union team up to soon launch real-time cross-border money movements in India, Africa

Western Union has teamed up with two Bharti Airtel arms -- Airtel Payments Bank and Airtel Africa Plc -- to launch real-time payments shortly into millions of Airtel Payments Bank accounts in India and mobile wallets across 14 countries in Africa. The service launch is expected in the course of calender 2020, Airtel said. from Banking/Finance-Industry-Economic Times https://ift.tt/3aBjI...

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Tax Saving Investment Options for salaried

Salaried individuals sometimes may end up paying too much tax. A lot of people spend their hard-earned money paying taxes because they are unaware of income ... from Banking/Finance-Industry-Economic Times https://ift.tt/2umJU...

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India Inc seeks liquidity boost for NBFCs, HFCs

The CII has also sought a separate classification for systematically important NBFCs with such companies being given easier funding through External Commercial Borrowings (ECBs) and access to temporary funding from the RBI similar to the repo facility used by banks. from Banking/Finance-Industry-Economic Times https://ift.tt/30IqY...

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Mastercard swipes right on Pine Labs

Pine Labs reported total revenue of Rs 503.2 crore in FY19, up from Rs 336.1 crore in the previous fiscal. Losses widened to Rs 13.7 crore in the 12 months ended March 2019 from Rs 2.5 crore in the previous financial year, according to paper.vc. from Banking/Finance-Industry-Economic Times https://ift.tt/2Gd2D...

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Insurance frauds: How data analytics and rigorous checks are trying to eliminate bogus claims

Bogus claims are as old as the industry itself. Despite insurers’ best efforts, fraudsters have been mostly ahead of them. But with the rise in data analytics and rigorous checks, the industry at last appears to be close to eliminating such malpractices. from Banking/Finance-Industry-Economic Times https://ift.tt/2Rgwp...

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FPIs, PE funds get notices from AAR

Many PE funds and FPIs that had invested in India through Mauritius and Singapore had got a grandfathering benefit whereby they were allowed to pay lower taxes if they had invested before the bilateral tax treaties were amended. from Banking/Finance-Industry-Economic Times https://ift.tt/2ttxH...

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Bankruptcy board set to tackle group insolvency

Bringing entities on the basis of inter-connectedness or common assets into the group resolution framework may face challenges and lead banks to classify standard accounts as NPAs, dragging standard cases into insolvency because of non-recovery of dues after insolvency resolution. from Banking/Finance-Industry-Economic Times https://ift.tt/37mXz...

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Fino Payments Bank to more than double merchant points by FY23

Aim is to improve access to banking, says MD & CEO Rishi Gupta from Business Line - Money & Banking https://ift.tt/2TJqr...

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ICICI Prudential Life reports flat growth in net income to ₹302 cr in Dec quarter

Private sector life insurer ICICI Prudential Life on Tuesday reported a marginal increase in net income to ₹302 crore, despite a 33 per cent rise in from Business Line - Money & Banking https://ift.tt/3auSS...

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ICICI Prudential Life Insurance Q3 net profit up 1.9%

ICICI Prudential Life Insurance registered a near 2 per cent increase in net profit in the third quarter of the fiscal year.The private sector life i from Business Line - Money & Banking https://ift.tt/2RewM...

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Five questions to ask before signing a document

Most of us think that asking questions portray lack of knowledge and ignorance, but what it actually shows in curiousness and the eagerness to learn. How man... from Banking/Finance-Industry-Economic Times https://ift.tt/38pL0...

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RBI cancels certificate of authorisation of Vodafone m-pesa

The Reserve Bank of India (RBI) on Tuesday said it has cancelled the Certificate of Authorisation (CoA) of Vodafone m-pesa on account of voluntary surrender of authorisation. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3av5o...

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GDP slowdown could impact insurance premium growth over next two-three years: Moody’s Investors Service

Recent regulatory measures could act as counterbalance from Business Line - Money & Banking https://ift.tt/2NM6C...

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ICICI Bank introduces cardless cash withdrawal facility through ATMs

The service can be used for self-withdrawal when customers do not wish to carry the debit card. The daily transaction limit as well as per transaction limit is set at Rs 20,000 from Banking/Finance-Industry-Economic Times https://ift.tt/2v7dE...

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Insurance industry hopes for separate investment window for life cover

Budget 2020-21 may also review the ₹1.5-lakh limit under Section 80C from Business Line - Money & Banking https://ift.tt/2RFiw...

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Lenders put cash flows of about 500 stressed companies’ under lens

In the last three months, lenders have hired agencies in Gammon, Altico, JBF Industries, Suzlon and HCC to track end use of funds. Lead banks are hiring monitoring agencies in accounts having exposure of more than Rs 250 crore. from Banking/Finance-Industry-Economic Times https://ift.tt/2RCIK...

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There’s no ban on Bitcoin, RBI tells Supreme Court

Says it has only ring-fenced banks and other regulated entities from cryptocurrency trading  from Business Line - Money & Banking https://ift.tt/3azwQ...

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Bharti AXA General gets IRDAI nod for two proposals under sandbox project

Usage-based Motor Insurance and Short-Term Health Insurance products short-listed by regulator from Business Line - Money & Banking https://ift.tt/2ufMZ...

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Apollo Hospitals launches Health EMI Card in tie-up with Bajaj Finserv

Card offers no-cost EMI, ₹4-lakh credit limit and complimentary insurance cover from Business Line - Money & Banking https://ift.tt/2RdHx...

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KMB net rises 24% on lower tax outgo, higher income

Gross NPAs rose to Rs 5,413 crore from Rs 5,033 crore in the September quarter. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/37eAg...

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Federal Bank profit surges 32% boosted by higher income, lower provisions

The net interest margin (NIM), a key measure of profitability, fell marginally to 3% from 3.01% at the end of September. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2tARm...

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Unanticipated volumes caused online, mobile platform issues in December: HDFC Bank

Customers of India's largest private sector bank raised an alarm on December 2 after being unable to access their accounts via mobile apps or online. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/3apeh...

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DHFL may resume lending operations from next week

On January 16, the CoC approved proposals on cost that would be incurred by the company during the resolution process. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/37nya...

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Bank of Maharashtra posts Rs 135 crore net profit in Q3

Gross advances stood at Rs 93,882 crore while total deposits increased to Rs 1,41,986 crore, showing a growth of 4.4%. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/37eu0...

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RBI to adopt crore in reports, remove billion

The Reserve Bank of India (RBI) will henceforth adopt crore instead of billion while presenting numbers in its balance sheet, income statement and weekly statement of affairs. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2G5xI...

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Digit Insurance gets IRDAI nod to raise $84 million from three growth equity investors

Digit Insurance has received approval from the Insurance Regulatory and Development Authority (IRDAI) to raise $84 million from three growth equity in from Business Line - Money & Banking https://ift.tt/3aDLM...

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Sachin Bansal to put $400 million in banking business

Flipkart co-founder Sachin Bansal has said that he will deploy all the proceeds from the sale of his stake in the e-commerce player into his financial services venture Navi Technologies, which has applied for a universal banking licence with the Reserve Bank of India (RBI). Bansal could likely invest $400-450 million in the new venture. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2GaMj...

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RBI says crypto not banned, but don’t bank on it

The central bank said this in a response to a petition filed by the Internet and Mobile Association of India (IAMAI), which wanted it to reconsider a 2018 circular directing regulated entities not to deal in cryptocurrencies. RBI said it had not banned crypto but only ringfenced regulated entities like banks from risks associated. from Banking/Finance-Industry-Economic Times https://ift.tt/2tszM...

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Payment companies weigh ways to recoup MDR losses

These companies have urged the Centre to nudge banks to compensate “a minimum of 0.25% of the transaction amount for all the UPI and RuPay, Person to Merchant (P2M) transactions” for sustained service and ecosystem expansion in the absence of any clear revenue model. from Banking/Finance-Industry-Economic Times https://ift.tt/2TGcQ...

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Sanjiv Chadha appointed MD, CEO Bank of Baroda; Atanu Kumar Das to head Bank of India

Sanjiv Chadha, who is at present Deputy Managing Director in State Bank of India, has been appointed to the new post for a period of three years, the order said. Lingam Venkata Prabhakar, Executive Director in Punjab National Bank, will be MD and CEO in Canara Bank, it said. from Banking/Finance-Industry-Economic Times https://ift.tt/2RCK1...

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Bank of Maharashtra net profit jumps to Rs 135 crore in December quarter

For the nine months ended December 2019, its profit after tax stood at Rs 331 crore as against a net loss of Rs 4,856 crore in the same period last year. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2R9sG...

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New India Co-operative Bank shareholders approve conversion to small finance bank

The move comes after a slew of regulatory changes by the RBI following the Rs 4,500-crore PMC Bank fraud and to ensure better regulation of such lenders which are heavily influenced by regional political heavyweights. NICB shareholders will now be approaching the RBI and Central Registrar of Societies for further action, the bank said. from Banking/Finance-Industry-Economic Times https://ift.tt/30Cfo...

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NIC board approves merger proposal with two other insurers: Officials

"The board met today and cleared it. The board also discussed about operational integration," West Bengal State General Insurance Employees Association general secretary Tapan Mitra told . Attempts to contact NIC officials did not materialise. from Banking/Finance-Industry-Economic Times https://ift.tt/2v01R...

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Global slowdown: Significant easing ahead with policy push, says BNP Paribas

BNP Paribas sees policymakers around the world responding aggressively to the slowdown with monetary and fiscal easing beyond current expectations in from Business Line - Money & Banking https://ift.tt/2G3YY...

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SBI gets new MD; new chiefs appointed for Canara Bank, BoB and BoI

The government on Monday announced the appointment of Lingam Venkata Prabhakar, Sanjiv Chadha and Atanu Kumar Das as the MD & CEO of Canara Bank, from Business Line - Money & Banking https://ift.tt/2R9BJ...

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Aviva India appoints Neil Karia as CFO

Our Bureau Aviva Life Insurance, a private life insurer, has announced the appointment of Neil Karia as the Chief Financial Officer. He will be based from Business Line - Money & Banking https://ift.tt/2G6FG...

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Challa Sreenivasulu Setty appointed MD of SBI

The Appointments Committee of the Cabinet has approved the proposal of the Department of the Financial Services for the appointment of Setty, currently serving as the deputy managing director of the SBI, in the key post. from Banking/Finance-Industry-Economic Times https://ift.tt/37bxr...

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New India Co-op Bank gets shareholders’ nod to become an SFB

New India Co-operative Bank (NICB) on Monday said the Special General Body meeting of its shareholders held on January 18, 2020, passed a resolution t from Business Line - Money & Banking https://ift.tt/38nSj...

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Sluggish bond market is the latest headache for Indian firms

Prospects of flat issuance is bad news for govt’s efforts to revive sagging growth from Business Line - Money & Banking https://ift.tt/2NJVv...

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ICICI Securities Q3 profit up 36% to ₹137 crore

ICICI Securities, the investment services arm of ICICI Group, on Monday reported a 36 per cent rise in consolidated profit to ₹137 crore for the thi from Business Line - Money & Banking https://ift.tt/30Bwg...

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Turnaround: Bank of Maharashtra Q3 net at ₹135 cr

The Board of Directors of Bank of Maharashtra on Monday approved the bank’s results for the quarter and nine months ended December 31, 2019, at its me from Business Line - Money & Banking https://ift.tt/30Ef6...

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Federal Bank Q3 net profit up 32%

Private sector Federal Bank reported a 32.07 per cent increase in its net profit in the third quarter of the fiscal led by strong revenue and stable a from Business Line - Money & Banking https://ift.tt/30F4r...

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Kotak Mahindra Bank Q3 net profit up 24%

Private sector lender Kotak Mahindra Bank registered a 23.6 per cent increase in net profit in the third quarter of the fiscal, despite a marginal di from Business Line - Money & Banking https://ift.tt/2Gj1G...

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Punit Sood to lead RBS India operations

Punit Sood has been appointed the head of RBS India, the technology and operations hub of the Royal Bank of Scotland (RBS). He is tasked with buildi from Business Line - Money & Banking https://ift.tt/38lr1...

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Federal Bank Q3 net up 32% at Rs 440.64 cr

Private sector Federal Bank reported a 32.07 per cent increase in its net profit in the third quarter of the fiscal led by strong revenue and stable a from Business Line - Money & Banking https://ift.tt/2uc5y...

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Punit Sood appointed new country head of RBS India

For Sood, this will be his second innings at RBS, where he is returning to lead India operations after a nearly two-year gap. In his new role, he will build the organisation’s strategic capabilities, supporting the bank to achieve its goals. from Banking/Finance-Industry-Economic Times https://ift.tt/37cCW...

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DBS Bank India looks to expand footprint in India; focus on SME, retail segments

DBS Bank India is looking to grow its presence in the country and is targeting to have its footprint in 15 States with at least 39 branches by the mi from Business Line - Money & Banking https://ift.tt/2sJEO...

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Soon, you’ll get to buy one policy for many cars

ICICI Lombard is launching the “floater” policy option that will allow customers to optimise their sum insured, since they will not be driving two vehicles at the same time. from Banking/Finance-Industry-Economic Times https://ift.tt/369rS...

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Plan likely to give NBFCs more lending room

The options that have been deliberated ahead of the February 1 budget include a plan akin to the Troubled Asset Relief Program (TARP) that the US put in place after the subprime mortgage crisis that sparked the financial crisis of 2007-08. Funding for such a structure could come from residual stakes in the Special Undertaking of Unit Trust of India. from Banking/Finance-Industry-Economic Times https://ift.tt/2R8G5...

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Bank unions call two-day strike from January 31

It has also called strike a three-day strike from March 11, and if the demands are not met, the UFBU has threatened to go on an indefinite strike from April 1, 2020. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/3ahZf...

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iQuippo to facilitate loan availability to customers

iQuippo, the digital marketplace which was earlier focusing only on buying and selling of infrastructure equipment, is now making it easy for custome from Business Line - Money & Banking https://ift.tt/38lcO...

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Waive tax on senior citizens savings schemes’ interest: SBI report

The interest on the Senior Citizens Savings Scheme (SCSS) should be given full tax rebate as the revenue foregone by the government could be only ₹3, from Business Line - Money & Banking https://ift.tt/2Ggv4...

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RBI may take up interim dividend issue at next board meeting

The issue of interim dividend may come up for discussion in the next RBI board meeting as the government struggles to meet its ambitious fiscal defic from Business Line - Money & Banking https://ift.tt/37c2a...

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Bank unions call two-day strike from January 31

The United Forum of Bank Unions (UFBU), which represents nine trade unions, has given a call for a two-day strike beginning January 31. It has also c from Business Line - Money & Banking https://ift.tt/2TEjh...

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Airtel ties up with Bharti AXA Life to offer prepaid with life insurance

Bharti Airtel has entered into an alliance with Bharti AXA Life Insurance to offer its most affordable prepaid bundle with built-in life insurance cov from Business Line - Money & Banking https://ift.tt/30EnV...

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Global private equity investors raising more funds despite declining returns is not a sign of success

It’s getting harder for private equity firms to realize returns by selling companies on stock markets as the world wakes up to the reality that not all hot technology startups will be IPO winners. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2v4P8...

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HDFC Bank to list candidates for new MD, CEO by July-August

Says working to increase capacity for Internet and mobile banking from Business Line - Money & Banking https://ift.tt/2G6nf...

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HDFC Bank identifies firm for selection of new CEO, shortlist by July

Bank identifies firm for selection of new CEO, shortlist by July. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2v41T...

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