ACC extends tenure of 3 Executive Directors of PSU banks

The Appointments Committee of the Cabinet (ACC) has approved the extension of the term of three Executive Directors (EDs) in various Public Sector Ban from Business Line - Money & Banking https://ift.tt/3iVC1...

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Reserve Bank of India appeals to Supreme Court to allow NPA classification

The Reserve Bank of India, in a filing to the Supreme Court late on Friday, warned that failure to immediately lift an interim stay on banks classifying any loan as a non-performing asset (NPA) would also undermine the central bank's regulatory mandate. from Banking/Finance-Industry-Economic Times https://ift.tt/2FkHH...

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RBI appeals to Supreme Court to allow NPA classification

The Reserve Bank of India (RBI) has appealed to the country's top court to let banks classify loans as non-performing, saying a ban imposed to help borrowers in the Covid-19 pandemic could greatly harm the nation's financial system. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/34LH8...

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India flips to premium as jewellers bank on festive revival

Physical gold was sold at a premium in India this week for the first time since mid-August as jewellers stocked up, hoping key festivals would bring customers back to stores. The country will celebrate Dussehra in late October and Diwali and Dhanteras in November, when buying gold is considered auspicious. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3jNH0...

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Indiabulls dilutes stake in UK arm, raises Rs 441cr

After raising Rs 2,200 crore through a combination of institutional offers and stake sales in its business arms in the September quarter, Indiabulls Housing Finance on Friday said it raised another Rs 441 crore through part-sale of its stake in the UK-based bank OakNorth. It is also planning another institutional placement in the current quarter to further bolster its reserves, sources said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2IgSS...

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Moratorium period exceeding six months may result in vitiating overall credit discipline: RBI to SC

The banking regulator fled the affidavit in pursuance to the apex court's October 5 order asking the Centre and the RBI to place on record the K V Kamath committee recommendations on debt restructuring because of COVID-19 related stress on various sectors as well as the notifications and circulars issued so far on loan moratorium. from Banking/Finance-Industry-Economic Times https://ift.tt/34FW3...

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24 hour RTGS to boost ease of doing business

Real-time gross settlement (RTGS) — a mechanism for high-value bank fund transfers — will be made available round-the-clock from December 2020 instead of just during daytime on working days. The move will improve ease of doing business in India as companies use this platform for payments and, with increased digitisation, commercial transactions are taking place throughout the day. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2I5Cu...

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Nevis Investment Consultants – Based On The Foundation Of Trust & Credibility

from Banking/Finance-Industry-Economic Times https://ift.tt/2SLrS...

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'Interest on interest': Can’t go beyond relief already announced, Centre tells SC

Amid demands for succour from sectors such as real estate, the Centre on Friday said it would not be possible to add to the already announced financial relief packages and waive compound interest for the six-month loan repayment moratorium period. from Banking/Finance-Industry-Economic Times https://ift.tt/30NkV...

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RBI moves Supreme Court for vacating stay on classification of loan account as NPA

RBI, Centre file counter affidavits in loan moratorium issue; next hearing on Tuesday from Business Line - Money & Banking https://ift.tt/3jNQD...

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RBI allows HFCs to lend with banks under co-origination model

The Reserve Bank of India (RBI) on Friday allowed housing finance companies (HFCs) to collaborate with banks for priority sector lending under co-origination model. from Banking & Finance – The Financial Express https://ift.tt/3ddXc...

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Interest rates on home loans above Rs 30 lakh likely to drop

Interest rates on home loans above Rs 30 lakh will become cheaper, with the RBI making it less expensive for banks and finance companies to extend big-ticket home loans. The biggest reduction is expected in home loans of over Rs 75 lakh. At present, home loan rates are linked to loan size. Rates are lowest for loans up to Rs 30 lakh and rise with the size of the loan. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/30M4q...

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RBI says lenders have enough leeway, sector-specific freedom

The Reserve Bank of India (RBI) has stressed that banks have sufficient leeway to accommodate the impact of Covid19 while stipulating specific ratios for determining eligibility of loan resolution under the special window notified by it on September 7. from Banking & Finance – The Financial Express https://ift.tt/3de3H...

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RBI extends SLR holdings in HTM category till March 2022

This dispensation is available to banks for securities acquired between September 1, 2020 and March 31, 2021. from Banking & Finance – The Financial Express https://ift.tt/3lzvL...

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Care Ratings downgrades Lakshmi Vilas Bank’s debt instruments

Majority of the ratings have been revised down to Care BB- negative (double BB minus, outlook negative) from Care BB+ negative (double B plus, outlook negative). from Banking & Finance – The Financial Express https://ift.tt/30QEy...

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RBI cheers bond market despite keeping rates on hold

The Reserve Bank of India assured bond markets on Friday that it stands ready to take whatever measures are necessary to ensure adequate liquidity in the banking system, sparking a sharp rally. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3ddlz...

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Planning to retire or start living?

from Banking/Finance-Industry-Economic Times https://ift.tt/36J5D...

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RBI broadens co-origination model for priority sector lending, all NBFCs can collaborate with banks

In 2018, the RBI had put in place a framework on co-origination of loans by banks and only a certain category of Non-Banking Financial Companies (NBFCs) were allowed to partner with banks for lending to the priority sector subject to certain conditions. from Banking/Finance-Industry-Economic Times https://ift.tt/33Nme...

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RTGS to be available 24x7 from December

RBI also announces perpetual validity for certificate of authorisation to PSOs from Business Line - Money & Banking https://ift.tt/3jMUN...

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RBI announces new measures to arrest eco downtrend

The Reserve Bank of India (RBI) on Friday said it will maintain comfortable liquidity conditions and conduct market operations in the form of outright and special open market operations. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/34FSQ...

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RBI eases risk weights on home loans; links to LTV

Home loan rates could become cheaper from Business Line - Money & Banking https://ift.tt/3iLoV...

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RTGS system to become 24x7 from Dec: RBI governor

The Reserve Bank of India (RBI) on Friday announced that RTGS (Real Time Gross Settlement ) system will become 24x7 from December this year. "India will be among very few countries globally with a 24x7x365 large value real time payment system," RBI governor Shaktikanta Das said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2GT86...

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RBI may hold rates as three members make MPC debut

While the Reserve Bank of India (RBI) is widely expected to hold the repo rate at 4.00% at the end of its three-day policy meeting on Friday, the tone of the accompanying statement will be scrutinised as three new external officials join the six-member monetary policy committee. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2SGz7...

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Suryoday Small Finance Bank disburses first loan under PM SVANidhi scheme

Suryoday Small Finance Bank (SSFB) on Thursday kicked-off disbursement of loans under the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme Th from Business Line - Money & Banking https://ift.tt/3jPuk...

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Paytm sets up ₹10-crore fund to help developers take on Google

BharatMatrimony, GOQii, other start-up leaders join Paytm against Google from Business Line - Money & Banking https://ift.tt/3jKNM...

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LVB receives indicative non-binding offer from Clix Group

Our BureauTroubled Lakshmi Vilas Bank, on Thursday, said it has received an indicative non-binding offer from Clix Group. “Further to the process of c from Business Line - Money & Banking https://ift.tt/33GIf...

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Small banks must have an executive director in addition to MD and CEO, say experts

The Reserve Bank of India (RBI) must ensure that even small- to mid-sized private sector banks have an Executive Director in addition to the Managing from Business Line - Money & Banking https://ift.tt/3d6CY...

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Citigroup fined $400 million by US regulators for deficiencies in risk management

Federal banking regulators in the United States on Wednesday levied a $400 million fine on Citigroup for deficiencies in risk management and internal from Business Line - Money & Banking https://ift.tt/2Szdh...

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Nabard to offer 18 months refinance to smaller NBFC, MFIs under special liquidity scheme

The National Bank for Agriculture & Rural Development (Nabard), which received the Rs 5000-crore dedicated fund from RBI for making the refinance facility available down the line, has just drawn up the rules. from Banking/Finance-Industry-Economic Times https://ift.tt/3d8Vx...

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Banks sanction Rs 1.87 lakh crore to 50.7 lakh MSMEs under credit guarantee scheme

The finance ministry on Thursday said banks have sanctioned loans of about Rs 1,87,579 crore to 50.7 lakh business units under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector impacted by slowdown caused by the coronavirus pandemic. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2SEzr...

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Lakshmi Vilas Bank receives an indicative non-binding offer from Clix Group

Troubled Lakshmi Vilas Bank on Thursday said it has received an indicative non-binding offer from Clix Group.“Further to the process of considering an from Business Line - Money & Banking https://ift.tt/2GBvp...

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Non-cash transactions surged 14% in 2019; highest in the past decade: Capgemini Report

According to the World Payments Report 2020 by Capgemini, a global provider of consultation service, a compound annual growth rate (CAGR) of 12 per ce from Business Line - Money & Banking https://ift.tt/33FVl...

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Central Bank to consider follow-on public offer

Central Bank of India is looking at ways to improve the liquidity of the bank’s stock, which has fallen below 10%. The bank’s qualified institutional placement (QIP) raised half of what it sought as stock liquidity and was seen as one of the issues for large investors. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/33FvW...

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IOB reduces MCLR by 5 bps

Indian Overseas Bank will reduce the Marginal Cost of funds-based Lending Rate (MCLR) across all tenors by 5 bps, effective October 10, 2020. The loan from Business Line - Money & Banking https://ift.tt/2SDOD...

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Monetary policy in right direction, but more needs to be done to push up demand, production: Rangarajan

Centre, States are ‘slow’ in increasing public expenditure from Business Line - Money & Banking https://ift.tt/2SEai...

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A Short term offering for your core allocation IDFC Bond Fund - STP

from Banking/Finance-Industry-Economic Times https://ift.tt/2SBlH...

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India’s GDP to plunge 9.6% in FY21: World Bank

World Bank estimates India’s GDP to plunge 9.6% in 2020-21. Growth is forecast to return to 5.4% in FY22, assuming Covid-related restrictions are completely lifted by 2022, but mostly reflecting base effects, the report on South Asia unveiled by the bank on Thursday said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2GP9c...

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Govt open to more capital infusion into select state-run banks this fiscal to boost lending

In its Financial Stability Report, the RBI has forecast that gross non-performing assets (NPAs) may jump from 8.5% at the end of March 2020 to 12.5%, a 20-year peak, by March 2021. from Banking & Finance – The Financial Express https://ift.tt/2SxUL...

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SBI near 70-80% of pre-Covid business levels: Newly-appointed chairman Dinesh Kumar Khara

Khara stated that SBI is very seriously evaluating all available options for the creation of a new umbrella entity. from Banking & Finance – The Financial Express https://ift.tt/3d6V5...

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'Navigating the choppy waters' by Rupesh Patel of Tata Mutual Fund

from Banking/Finance-Industry-Economic Times https://ift.tt/30ILV...

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Coronavirus may push 150m into extreme poverty: WB

The World Bank said on Wednesday that the coronavirus pandemic could push as many as 150 million people into extreme poverty by the end of 2021, wiping out more than three years of progress in poverty reduction. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2GCyX...

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'Safety of employees, customers remain top priorities'

The newly-appointed chairman of State Bank of India (SBI) Dinesh Khara on Wednesday said maintaining quality loan book, safety of employees and customers will remain his top most priorities. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/30FGZ...

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M Rajeshwar Rao appointed as deputy governor of RBI

Rao is currently Executive Director overseeing four departments of RBI. from Business Line - Money & Banking https://ift.tt/33DX2...

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Interest subvention for MSMEs: Govt to include Co-operative Banks as Eligible Lending Institutions

Our Bureau The Government of India has decided to include Co-operative Banks as Eligible Lending Institutions whereby their MSMEs (micro, small and m from Business Line - Money & Banking https://ift.tt/2SwGp...

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M Rajeshwar Rao appointed as RBI Deputy Governor

Our BureauThe Appointments Committee of the Cabinet (ACC) has approved the appointment of M Rajeshwar Rao as Deputy Governor of the Reserve Bank of In from Business Line - Money & Banking https://ift.tt/3d5rg...

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SBI’s new chairman Dinesh Kumar Khara says loan restructuring manageable; lists out 3 priorities

Dinesh Kumar Khara today said that the bank is very closely observing the number of loan restructuring requests and concluded that given the numbers and SBI’s loan books, restructuring is manageable. from Banking & Finance – The Financial Express https://ift.tt/33EGV...

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SBI’s retail credit posts 6-7% growth: Khara

Our BureauState Bank of India (SBI) is witnessing credit growth of about 6-7 per cent as of now, with the overall credit growth touching about 70-80 p from Business Line - Money & Banking https://ift.tt/3iDms...

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SEBI move on AT-1 bonds: Marginal impact expected on banks’ fund-raising plans

SurabhiRetail investors will be safeguarded, but the fund-raising plans of some PSBscould be marginally impacted by the decision of the Securities an from Business Line - Money & Banking https://ift.tt/30GPV...

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Maintaining asset quality a priority, says new SBI chief

SBI's gross NPAs as of June 2020 was 5.44% down from 7.53% a year ago and net NPAs post provisioning was 1.86% down from 3.07% in June 2019. Its NIM was 3.01% up from 2.81% a year ago. from Banking/Finance-Industry-Economic Times https://ift.tt/34tji...

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Bandhan Bank's collection efficiency improves in September

Collection efficiency for microfinance loans was 89% while it was 98% for mortgage loans, according to provisional data submitted to the stock exchanges. from Banking/Finance-Industry-Economic Times https://ift.tt/33D4w...

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At 41 million real-time transactions a day, India leads the world: Report

The pandemic has highlighted the critical importance of instantly getting funds, whether for individuals or businesses from Business Line - Money & Banking https://ift.tt/3iEqC...

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SBI clocks credit growth of 6-7%, says chief

Our BureauState Bank of India (SBI) has clocked a credit growth of 6-7 per cent so far, with growth more or less reaching 70-80 per cent of pre-Covid- from Business Line - Money & Banking https://ift.tt/33Bry...

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State Bank of India's new chief, Dinesh Khara, says top priority to maintain loan book quality

At a time when the Indian banking system is hamstrung by the pandemic, SBI is witnessing credit growth of around 6-7% while business is "70-80% back to pre COVID-19 levels," for the bank, Dinesh Kumar Khara, Chairman, SBI said in a press briefing after taking over the reins on Wednesday. from Banking/Finance-Industry-Economic Times https://ift.tt/3lnn3...

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HDFC to give instant loans up to Rs 40 lakh for customers' medical bills at Apollo Hospitals

The loans will be disbursed almost instantly as and when a need for money arises, and the hospital patients who are customers of HDFC Bank will also receive preferential treatment, its Chief Executive Officer and Managing Director Aditya Puri told reporters. from Banking/Finance-Industry-Economic Times https://ift.tt/3ntDM...

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Jammu & Kashmir Bank extends CMD’s term by six months

Our BureauJammu & Kashmir Bank, on Wednesday, said the Reserve Bank of India (RBI) has extended the term of RK Chhibber, Chairman and Managing Di from Business Line - Money & Banking https://ift.tt/3d4Eu...

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PM SVANidhi-SBI integration to ease processing of loan applications

Our BureauThe Ministry of Housing and Urban Affairs (MoHUA), on Wednesday, launched the Application Programming Interface (API) integration between th from Business Line - Money & Banking https://ift.tt/36EBQ...

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HDFC Bank, Apollo Hospitals partner for healthcare solution

HDFC Bank customers to get round-the-clock access to emergency doctor, choice of payment options, ease of finance for treatments at all Apollo Hospitals from Business Line - Money & Banking https://ift.tt/34wwM...

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Banks say interest waiver will add to costs, spark litigation

Bankers fear the government's decision to waive some interest payments on loans under a Covid-19 support plan will create unnecessary work for lenders and lead to more litigation, without providing much of a boost for the sagging economy. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3iDqI...

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'By 2021, 150m likely to be in extreme poverty'

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/30Hat...

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Banks say government's interest waiver will add to costs, spark litigation

Bankers are also concerned about that waivers may distort the culture of lending in India and argue that there are other ways to help borrowers who are in need, such as providing subsidies or loan restructuring. from Banking/Finance-Industry-Economic Times https://ift.tt/3ldsH...

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Barclays to enter new European private banking markets in 2021

Barclays plans to enter four new European private banking markets in 2021, its regional manager for the business told Reuters.Gerald Mathieu, who in from Business Line - Money & Banking https://ift.tt/3iEtx...

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Banking on digital will be outgoing SBI chief’s legacy

Rajnish Kumar, who completes his term as chairman of the country’s largest bank SBI on Tuesday, has led the bank through one of the most eventful periods in its post-independence history. But more than all the headline-grabbing events that kept the bank management burning the midnight oil, Kumar’s lasting legacy is likely to be the digital transformation that he promoted both in a public forum and in behind-the-scenes technology implementation. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World...

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Dinesh Kumar Khara appointed SBI chairman for three years

The foremost challenge for Khara in his new role will be to deal with the repercussions of Covid-19 – in terms of recoveries as well as growth. from Banking & Finance – The Financial Express https://ift.tt/3ljGt...

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Will accelerate Covid provisioning, strengthen balancesheet: Bajaj Finance

Bajaj Finance, on Tuesday, said it will continue to accelerate its provisioning for Covid-19 in the second quarter of the fiscal and will also work to from Business Line - Money & Banking https://ift.tt/30Ccq...

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India’s first B2B Crypto trading exchange DigitX launched

DigitX, country’s first Business-to-Business (B2B) Crypto trading exchange has commenced its trading operations. In a highly potential yet challengin from Business Line - Money & Banking https://ift.tt/33AvR...

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Axis Bank, Vistara launch co-branded forex card

Vistara and Axis Bank on Tuesday launched a co-branded forex card that can load up to 16 currencies.The card has locked-in exchange rates and the ca from Business Line - Money & Banking https://ift.tt/3iCV4...

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Relief for HDFC Bank employees: No threat on jobs, bonuses, assures MD & CEO Aditya puri

Aditya Puri, MD & CEO of HDFC Bank has assured the employees that their jobs and bonuses are secure. from Banking & Finance – The Financial Express https://ift.tt/3iBdU...

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NPCI working on AI-based fraud detection model

The National Payments Corporation of India (NPCI) is working on some artificial intelligence-based fraud detection models as banks and financial systems are now increasingly using the technology to further their business, its managing director and CEO Dilip Asbe said on Tuesday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2I323...

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Credit Wise Capital raises $6 million from family offices, angels

Credit Wise Capital (CWC), a consumer finance NBFC, has raised $6 million in a seed-funding round, which saw participation from marquee angel investo from Business Line - Money & Banking https://ift.tt/3jC8S...

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Centre may disinvest 5% stake in LIC

The government may sell just five per cent stake in state-owned Life Insurance Corporation of India, which could help it raise upwards of ₹50,000 cror from Business Line - Money & Banking https://ift.tt/2GxMi...

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Dinesh Kumar Khara to face several challenges as SBI’s new chief

Steering State Bank of India (SBI) through the ongoing pandemic – which is taking a heavy toll on lives, livelihood and the economy – will be the bigg from Business Line - Money & Banking https://ift.tt/30BfO...

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Axis Bank, Vistara launch co-branded forex card

The forex card can load up to 16 currencies and has various emergency assistance services like loss of passport assistance through TripAssist and insurance cover of up to Rs 3 lakhs. from Banking/Finance-Industry-Economic Times https://ift.tt/3iwcT...

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Your jobs, increments, bonuses are secure: Aditya Puri to HDFC Bank employees

Even as the COVID-19 pandemic rages on, Puri, who retires later this month, said the bank is doing well, has sufficient capital and does not have any strain in the loans that it has made. He also hinted that the bank may post a strong set of quarterly numbers in the recently ended July-September period and quarters ahead as well. from Banking/Finance-Industry-Economic Times https://ift.tt/2Syag...

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Bank of Baroda launches festive offers for home, car loans

Bank of Baroda said it is offering a waiver of 0.25% in the existing applicable rates for Baroda Home Loans (under take over cases only) and Baroda Car Loans. from Banking/Finance-Industry-Economic Times https://ift.tt/30CEz...

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Bank of Baroda launches festival offers for home, car loans

Ahead of the festive season, state-run Bank of Baroda on Tuesday said it has rolled out offers for home and car loan borrowers. The lender said it from Business Line - Money & Banking https://ift.tt/2GDAO...

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Credit Suisse expands wealth management team in India

Hires nine experienced bankers for India unit from Business Line - Money & Banking https://ift.tt/3lacg...

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Airtel Payment Bank allows merchants to use smartphone as ePOS

The devices can accept digital payments and make ‘On-Demand Settlement’ from Business Line - Money & Banking https://ift.tt/3jDI3...

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ICICI Bank launches debit card for customers availing loan against securities

Will be available on the Visa platform and can be used across all domestic merchant establishments from Business Line - Money & Banking https://ift.tt/3nnQE...

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HDFC Bank’s loans grow 16% in Q2, deposits 20%

According to the bank’s statement to the stock exchanges, its deposits at the end of September stood at Rs 12.3 lakh crore as compared to Rs 10.2 lakh crore a year ago. Advances rose to Rs 10.4 lakh crore from Rs 9 lakh crore. from Banking/Finance-Industry-Economic Times https://ift.tt/3jBOX...

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Airtel Payments Bank eases transactions for merchants

Merchants can select the Smart ePOS option in the Airtel Payments app, and a QR code will appear on the mobile screen for the payments to be made. The amount will get credited immediately to the merchant bank account linked to the app. from Banking/Finance-Industry-Economic Times https://ift.tt/33BM3...

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RBI to hold monetary policy meet from October 7-9

The Reserve Bank of India (RBI) on Tuesday said that the monetary policy committee (MPC) meet will be conducted from October 7 to October 9. The meeting -- which was earlier scheduled to be held from September 29 -- was postponed as the central bank was awaiting the appointment of new member to its committee. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/36Otw...

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Monetary Policy Committee to meet Oct 7-9: RBI

The Reserve Bank of India (RBI) on Tuesday said the next meeting of the Monetary Policy Committee (MPC) is scheduled during October 7 to October 9.Thi from Business Line - Money & Banking https://ift.tt/2F2Wu...

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Axis Bank joins India’s top private lenders to offer pay hikes

HDFC Bank Ltd., the country’s largest private lender by assets, boosted salaries in April based on performance and also paid bonuses, other people with knowledge of the matter said. ICICI Bank Ltd., the second-biggest privately-held lender, gave about 80% of its 100,000 employees a bonus and pay rise from July. from Banking/Finance-Industry-Economic Times https://ift.tt/3noq9...

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SBI looking to hive off Yono into separate subsidiary: Chairman Rajnish Kumar

After Yono becomes an independent entity, SBI could even become one among its users, Chairman Rajnish Kumar said adding that discussions were at a very nascent stage and a valuation exercise for the entity was pending. from Banking/Finance-Industry-Economic Times https://ift.tt/2SvoG...

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Moody’s sees NPLs doubling across 14 APAC economies by 2022, led by India, Thailand

While credit costs will rise as asset quality deteriorates, Moody’s estimates pre-provision income will fall 5-10% in 2020 from 2019 from Business Line - Money & Banking https://ift.tt/2F4bf...

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HDFC Bank’s loans grow 16% in Q2, deposits 20%

HDFC Bank on Monday said that its advances for the second quarter rose 16% over the previous year, while deposits increased by 20%. The growth is much higher than the banking sector, which recorded a 12% year-on-year growth in deposits and 5.3% in advances until September 11. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3iA01...

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Interview: Parag Rao, country head – payment business, merchant acquiring services & marketing, HDFC Bank

‘Our mktg approach uses deep analytics to customise offers’ from Banking & Finance – The Financial Express https://ift.tt/3izkl...

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HDFC Bank’s advances rise 16%, deposits up 20% in second quarter

In a stock exchange notification, the bank said that advances in September quarter grew 16% year-on-year to Rs 10.37 lakh crore, compared to Rs 8.97 lakh crore in the same period last year. The advances grew 3% quarter on quarter, compared to Rs 10.03 lakh crore in the June quarter. from Banking & Finance – The Financial Express https://ift.tt/36w5o...

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Indian Bank launches its first Customer Acquisition & Processing Centre in Chennai

Chennai-headquartered public sector lender Indian Bank on Monday opened its first centralised Customer Acquisition & Processing Centre (CAPC) in C from Business Line - Money & Banking https://ift.tt/3jDip...

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₹30,000-cr liquidity support for NBFCs/HFCs: Outcome belies expectations

It’s official now. The ₹30,000-crore Special Liquidity Scheme – rolled out as part of the Aatma Nirbar Bharat package – to support NBFCs and Housing F from Business Line - Money & Banking https://ift.tt/3nduL...

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Bank Board recommends names for two SBI MDs

The BBB interfaced with 16 candidates from various nationalised banks and State Bank of India on October 5, for vacancies of Managing Director in SBI, the bureau said. from Banking/Finance-Industry-Economic Times https://ift.tt/30Rsy...

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BBB recommends names for for 2 MD posts at State Bank

Our BureauThe Banks Board Bureau (BBB) has recommended Swaminthan Janakiraman and Ashwini Kumar Tewari for the two Managing Director positions that wi from Business Line - Money & Banking https://ift.tt/33x5h...

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IndusInd Bank Q2: Deposits up 10%, net advances rise 2%

Private sector lender IndusInd Bank registered a 10 per cent increase in its deposits and a two per cent rise in its net advances as on September 30, from Business Line - Money & Banking https://ift.tt/3ld9f...

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September sees strongest recovery since pandemic broke out: HDFC

The number of loan applications received during the September quarter grew by 12% over last year while individual loan approvals rose 9%. Individual loan disbursements was at 95% levels over last year. It’s loan disbursements by value rose 11%. from Banking/Finance-Industry-Economic Times https://ift.tt/3cXvM...

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HDFC Bank advances up 16%, deposits rise 20% in Q2

Our BureauPrivate sector lender HDFC Bank registered a 16 per cent increase in advances, along with a 20 per cent growth in deposits in the second qua from Business Line - Money & Banking https://ift.tt/36CbL...

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BFSL, ICSI launch co-branded credit card for Company Secretaries

Our BureauBOB Financial Solutions Ltd (BFSL), a wholly-owned subsidiary of Bank of Baroda (BoB), and the Institute of Company Secretaries of India (IC from Business Line - Money & Banking https://ift.tt/2HY1P...

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HDFC: September 2020 saw strongest recovery since outbreak of pandemic

In terms of value, approvals grew 31 per cent in September this year compared to September 2019 while disbursals rose by 11 per cent. from Business Line - Money & Banking https://ift.tt/30yEr...

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Accumulated loss of 17 RRBs surge to ₹6,467 crore

The three major stakeholders of Regional Rural Banks (RRBs) – Central government, sponsor public sector banks (PSBs) and the government of the State i from Business Line - Money & Banking https://ift.tt/3d0eo...

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We will focus on building distribution and organic opportunities: ICICI Pru CFO

The current economic turmoil may be a short-term business issue for the life insurance segment, but is extremely positive in terms of creating awarene from Business Line - Money & Banking https://ift.tt/33umv...

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Reliance General partners SatSure Analytics for crop insurance business

Reliance General Insurance on Monday said it has partnered with SatSure for satellite-based crop monitoring and predictive analytics support to bette from Business Line - Money & Banking https://ift.tt/3d1T6...

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YES Bank registers gradual rise in Q2 deposit base

Our BureauPrivate sector lender YES Bank has registered a gradual rise in deposit base in the second quarter of the fiscal as it focusses on normalcy from Business Line - Money & Banking https://ift.tt/3nhwQ...

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Bandhan Bank plans giant leap into retail lending as part of its evolution as universal bank

“The bank is gearing up for the next level of structural transformation toward a true universal bank like large private peers by re-organizing business verticals and leadership positions either by hiring laterally or up-skilling,” said Anand Dama, analyst with Emkay Global Financial Services. from Banking/Finance-Industry-Economic Times https://ift.tt/33tpu...

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Loan moratorium: SC defers hearing till Oct 13

The Supreme Court on Monday asked the Centre and the Reserve Bank of India (RBI) to place on record the K V Kamath committee recommendation on debt restructuring due to COVID-19 related stress on various sectors as also the notifications and circulars issued by them so far on the issue of loan moratorium. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Gq12...

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Kamath report implementation: Supreme Court seeks update from Govt, RBI

The Supreme Court on Monday asked the Centre and the Reserve Bank of India (RBI) about steps taken to implement the KV Kamath Committee report, which from Business Line - Money & Banking https://ift.tt/30zTa...

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SC asks Centre, RBI to file Kamath panel suggestions, their decisions on loan moratorium

The Centre on Friday filed an affidavit before the Supreme Court on loan moratorium issue and said it has decided to waive compound interest (interest on interest) for a moratorium period of six months for Ministry of Micro, Small and Medium Enterprises (MSME) and personal loans up to Rs 2 crores. from Banking/Finance-Industry-Economic Times https://ift.tt/33we6...

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Motilal Oswal Home Finance appoints Arvind Hali as new MD & CEO

“We are certain that the momentum of growth in affordable housing will continue…We are confident that Hali and Bahl jointly with their domain expertise in the housing finance industry would help us strengthen our market position and expand our footprint in India,” said Motilal Oswal- CMD, MOFSL. from Banking/Finance-Industry-Economic Times https://ift.tt/3l66c...

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Banks relieved as govt will foot bill for interest waiver

The government’s proposal to pick up the tab for the waiver of 'interest on interest' on loans of up to Rs 2 crore clears the uncertainty over bank earnings for the quarter, giving them room to offer liberal loan-rejig terms to stressed borrowers. from Banking/Finance-Industry-Economic Times https://ift.tt/34muS...

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New-gen banking: A bank built for the millennial must function as their financial wellbeing manager

Besides, Gen-Z consumers are 25% more likely to share personal information and interact with chatbots to let a company deliver a truly personalised experience. Autonomous finance makes this possible. from Banking & Finance – The Financial Express https://ift.tt/30vlx...

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PFRDA plans to rope in consultant for hiving off NPS Trust, structural rejig

Pension regulator PFRDA plans to engage a strategic management consultant to study and make recommendations in critical areas including organisational from Business Line - Money & Banking https://ift.tt/2SpRa...

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‘We plan to invest ₹2 lakh cr in the remaining part of fiscal’

Investments in capital market, G-Secs have grown as compared to last year: LIC chief from Business Line - Money & Banking https://ift.tt/3juax...

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RBI may consider ICICI Bank, Kotak Mahindra to bail out Lakshmi Vilas Bank, says experts

May be the best option if proposed merger with Clix group fails from Business Line - Money & Banking https://ift.tt/3cVBB...

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Interest waiver: Those with home loans and personal loans to benefit the most

Nearly half of the Rs 6,000 crore relief pertains to loans that are charged interest between 6-12 per cent from Business Line - Money & Banking https://ift.tt/2Sm08...

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IRDAI working group suggests broad framework for insuring drones

Among other things, the group in its report has come out with Specimen Policy Wording (Drone Insurance) which includes various definitions and covers various aspects, including legal liabilities to third party, drone hull cover, personal accident cover to operator, accidental medical cover to operator, general exclusions and general coverage. from Banking/Finance-Industry-Economic Times https://ift.tt/2GhRL...

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Interest waiver: Borrowers may get monetary relief of up to ₹80,000 for loans

The Centre’s affidavit in the Supreme Court, which said that it would waive off interest on loans upto ₹2 crore that had taken the moratorium, would i from Business Line - Money & Banking https://ift.tt/33vAt...

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Federal Bank Q2: Total deposits up 12 per cent, gross advances rise 6 per cent yoy

Private sector lender Federal Bank has reported a 12 per cent increase in its total deposits in the second quarter of the fiscal along with a six per from Business Line - Money & Banking https://ift.tt/3nfmM...

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HDFC Bank's Ravi Santhanam in Forbes list of world's most influential CMOs

Ranked at Number 39, he is the only CMO of an Indian company to be featured in the illustrious list which includes marketing heads of Apple, BMW, Lego, Adobe, Microsoft, P&G among others. from Banking/Finance-Industry-Economic Times https://ift.tt/33sua...

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