Reliance Home Finance defaults on Rs 40 crore loan repayment to Punjab & Sind Bank

The company's total obligation is of Rs 200 crore on a 5-year tenure secured term loan at 9.25 per cent per annum from Punjab & Sind Bank, RHFL said in a regulatory filing. The company has net cash (including cash equivalent, liquid mutual fund investments, fixed deposits etc) of more than Rs 1,500 crore. from Banking/Finance-Industry-Economic Times https://ift.tt/2NZmj...

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IDBI Bank doggedly pursuing a second attempt to sell Sholay fame Minerva theatre

In its latest bid, the bank has lowered the reserve price to ₹52 crore. from Business Line - Money & Banking https://ift.tt/3roND...

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Bank lending activity now stronger than last year; credit growth at 6.6% in February

Bank credit during the fortnight ended February 12 stood at Rs 107 lakh crore, up from Rs 105 lakh crore at the end of December 2021. from Banking & Finance – The Financial Express https://ift.tt/3qqdR...

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G-Sec yields may soften temporarily if last two weekly auctions are cancelled: ICRA

Government Security (G-Sec) yields could soften temporarily as the Government of India’s (GoI) fiscal deficit may undershoot FY2021 Revised Estimate from Business Line - Money & Banking https://ift.tt/30hKV...

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ICICI Bank drops home loan rate to 6.7%

As at most banks, home loan interest rates at ICICI Bank vary on the basis of various parameters such as bureau scores, profile of customers and customer segments, among others. from Banking & Finance – The Financial Express https://ift.tt/3bki5...

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Indian Bank to divest ASREC stake

Apart from Indian Bank, LIC of India, Bank of India, Union Bank of India and Deutsche Bank are the other shareholders in the company. from Banking & Finance – The Financial Express https://ift.tt/2MT7c...

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CSB Bank eyeing 20-22% growth in current fiscal

The Thrissur-based lender reported an 89 % y-o-y increase in its third quarter net profit to Rs 53.05 crore on higher interest and treasury income. from Banking & Finance – The Financial Express https://ift.tt/3qiyf...

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Muthoot Finance chairman MG George passes away

Mathai George George Muthoot was born in November 1949 in Kozhencherry in the present day Pathanamthitta district of Kerala as the son of M George Muthoot, who began the finance business and as the grandson of Muthoot Ninan Mathai, the group founder. from Banking/Finance-Industry-Economic Times https://ift.tt/3boCI...

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DHFL auditor Grant Thornton finds another fraud of Rs 1,424 crore

The company, which is undergoing a corporate debt resolution process in the National Company Law Tribunal (NCLT), is being run by an administrator in the aftermath of IL&FS crisis in 2018 and unearthing of massive fraud in the company. from Banking/Finance-Industry-Economic Times https://ift.tt/2OoiS...

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DHFL reports fresh fraud of ₹1,424.32 cr

They occurred during FY 2017-18 and 2018-19 from Business Line - Money & Banking https://ift.tt/2Omcg...

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UBI update on change in IFSC code for merged banks

Customers of Andhra Bank and Corp Bank must get new cheque books from Business Line - Money & Banking https://ift.tt/3kPMA...

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G-Sec auction falters yet again

Government Security (G-Sec) yields rose on Friday as the Reserve Bank of India devolved a significant portion of the auction of three G-Secs on Prima from Business Line - Money & Banking https://ift.tt/3sR5y...

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Kotak Mahindra Bank appoints agricultural economist Ashok Gulati as additional director

Gulati is an MA and PhD from Delhi School of Economics and is currently the Infosys Chair Professor for Agriculture at the Indian Council for Research on International Economic Relations (ICRIER), the statement said. from Banking/Finance-Industry-Economic Times https://ift.tt/3rqW1...

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RBL Bank to focus on branch expansion in next few years

Hopes to end this fiscal with about 425 branches from Business Line - Money & Banking https://ift.tt/2MNjU...

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Utkarsh Small Finance Bank files for ₹1,350 crore IPO

Utkarsh Small Finance Bank Ltd has filed a draft red herring prospectus (DRHP or early initial papers) with the markets regulator to raise ₹1,350 cro from Business Line - Money & Banking https://ift.tt/3rjdI...

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ICICI Bank cuts home loan rate to 6.7%

The new rate is the lowest in 10 years from Business Line - Money & Banking https://ift.tt/3uVje...

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PNB Housing Finance, YES Bank sign strategic co-lending pact for retail home loans

PNB Housing and Yes Bank will synergise capabilities to provide an efficient and seamless experience to existing and new retail home loan customers, PNB Housing Finance said in a regulatory filing. from Banking/Finance-Industry-Economic Times https://ift.tt/30da1...

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Kotak Mahindra Bank divests 10 per cent stake in ECA Trading Services to its arm

Kotak Mahindra Bank has sold 1,09,48,925 equity shares of Rs 10 each (10 per cent of its stake) of ECA Trading Services Limited to Kotak Securities (a wholly-owned subsidiary of the bank), at a consideration of Rs 1.98 crore, it said in a regulatory filing. from Banking/Finance-Industry-Economic Times https://ift.tt/3kNx5...

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Banks may seek extension of freeze on NCLT proceedings

As part of its Covid relief measures, the government had issued on June 25 a notification to suspend insolvency proceedings by six months. In December, the centre extended the suspension by another three months. from Banking/Finance-Industry-Economic Times https://ift.tt/3sTgP...

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Bad bank is a great initiative but can turn into an accounting gimmick unless foreign investors are brought in: K Balasubramanian, Citibank India

Bad bank is a great initiative and much needed for the country, with most public sector banks carrying a high level of non-performing loans. This would free up capital for banks saddled with bad assets. It will be helpful for them to concentrate on regular good business. from Banking/Finance-Industry-Economic Times https://ift.tt/389dJ...

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ICICI Bank targeting to serve 20 lakh customers of rival banks through app

The lender expects the number of such customers, who are using the app for instant UPI-based payments and recharges, to double in the next three months, the company said in a statement. from Banking/Finance-Industry-Economic Times https://ift.tt/3eh5b...

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Kotak Mahindra Bank to handle salary account of Indian army personnel

"Through the Kotak salary account, all personnel of the Indian army will get access to the full range of Kotak's products and services including a zero-balance salary account that earns up to 4% interest per annum with free unlimited ATM transactions on all VISA ATMs and anywhere banking across the bank's network of 1,603 branches and 2,573 ATMs across India," the bank said. from Banking/Finance-Industry-Economic Times https://ift.tt/3rlbc...

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Loan-book fraud: Former Religare MD named beneficiary of ₹34 crore

The Economic Offences Wing (EOW) of the Delhi Police has named Sunil Godwani, former MD of financial services firm Religare Enterprises, as the benef from Business Line - Money & Banking https://ift.tt/38aDF...

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To clear dishonoured cheque cases, SC Bench proposes fast-track courts

Retired judges could preside over these temporary additional courts, suggests five-judge Bench from Business Line - Money & Banking https://ift.tt/30cpb...

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Adar Poonawalla-led Rising Sun Holdings notifies CCI of Magma Fincorp Deal

The deal which involves the preferential allotment of shares worth Rs 3,206 crore, would give RSHPL a controlling stake in the non-banking financial company (NBFC). from Banking/Finance-Industry-Economic Times https://ift.tt/3qhNt...

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Rewire, a neobank for expats, raises $20 million to extend financial services

Rewire, a fintech start-up that develops cross border online banking services tailored for the needs of expatriate workers worldwide, on Thursday anno from Business Line - Money & Banking https://ift.tt/3bYvm...

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ICICI, HDFC, SBI will have to offload Rs 1.2 lakh cr if RBI caps stake in insurance arms: Report

​​ Quoting unnamed RBI officials, a media report earlier this week said the monetary authority is not comfortable with banks owning controlling stake in non-core businesses like insurance ventures which are capital guzzlers and wants banks to cap ownership in insurance arms/ companies at a maximum of 20 per cent. from Banking/Finance-Industry-Economic Times https://ift.tt/3e5jh...

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More women borrowed personal loans in pandemic: Report

The active loans to women borrowers stood at 6,482 in the personal loan segment, as against 4,354 home loans, while auto loans witnessed a 4 per cent de-growth to 1,818 women borrowers, the report released in the run-up to the women's day said. from Banking/Finance-Industry-Economic Times https://ift.tt/3c33R...

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Kotak Mahindra Bank, Indian Army ink pact for salary account

Kotak Mahindra Bank has signed a Memorandum of Understanding (MoU) with the Indian Army for salary account. “The MoU enables Kotak to offer its salar from Business Line - Money & Banking https://ift.tt/2MLqp...

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Reliance Home Fin resolution: BoB files application for vacation of restraint order

Hoping to ensure timely resolution of Reliance Home Finance, Bank of Baroda filed an application in the Delhi High Court, seeking vacation of the rest from Business Line - Money & Banking https://ift.tt/3bg03...

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Bank of Baroda petitions Delhi HC to vacate stay on Reliance Home asset sale

The case refers to inter corporate deposits (ICDs) of Rs 200 crore invested by SPG subsidiary Always Remember Properties Pvt Ltd in June 2019 into RHFL which defaulted in its payment obligations. Reliance had promised to pay back the total dues by raising money out of the money raised through its stake sale in its asset management company. from Banking/Finance-Industry-Economic Times https://ift.tt/3c28Q...

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Andromeda targets 20 pc increase in loan disbursal in FY22 at Rs 30K cr

V Swaminathan, CEO Andromeda & Apnapaisa, said the company's loan disbursal is expected to grow to Rs 25,000 crore this fiscal year from Rs 18,000 crore in the previous year despite the COVID-19 pandemic. from Banking/Finance-Industry-Economic Times https://ift.tt/2PntS...

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Indian women taking more home loans: CRIF High Mark

Our Bureau Indian women are availing more credit in the form of home loans (HL) compared to personal loans (PL) and auto loans (AL), according to an from Business Line - Money & Banking https://ift.tt/3uVrz...

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India Ratings flags systemic risk issues on banking exposure to NBFCs

As per the agency, banks exposure to non-bank finance companies have risen to less that 6% of overall loans in FY15 to nearly 10% in FY20. At the end of September quarter state-run banks alone contributed more than 64% of overall Bank-NBFC funding. from Banking/Finance-Industry-Economic Times https://ift.tt/3bZcH...

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IBA may seek clarity on whether banks can be part of both NPCI, NUE

NPCI is a ‘not for profit’ company, while NUE may be a ‘for profit’ company; the latter’s entry may see consumers pay more for digital banking services, say insiders from Business Line - Money & Banking https://ift.tt/2NRW7...

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J&K govt withdraws nomination of Zubair Iqbal as MD of J&K Bank

Zubair Iqbal had served J&K bank for 15 years before moving to HDFC bank in 2004. After serving HDFC bank for about 16 years, he quit in May last year to join the bank as what would have been its first MD&CEO. After his appointment he was supposed to get a clearance from the RBI within 90 days. from Banking/Finance-Industry-Economic Times https://ift.tt/3rfDH...

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Symbo Platform raises $9.4 million in Series A funding

Major portion earmarked for investment into Symbo’s Indian affiliate from Business Line - Money & Banking https://ift.tt/3bbbs...

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Asset growth at NBFCs, HFCs to see nine percent jump in FY22, says India Ratings report

The wide differential among NBFCs' funding costs is likely to push the sector to consolidate, especially in the sectors with a thin margin profile and limited product differentiation, it said, adding the strong regulatory support in FY21 ensured adequate liquidity. from Banking/Finance-Industry-Economic Times https://ift.tt/2Pz7R...

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Razorpay announces 3rd largest ESOP sale of $10 million for 750 current, former employees

ESOP buybacks in the start-up industry have been a source of significant wealth creation for employees from Business Line - Money & Banking https://ift.tt/386Qp...

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Indian state-run banks likely to see moderate bad loan additions: Morgan Stanley

Some of the country's state-owned banks have long struggled with a pile of bad loans, prompting the government to pump in more funds to shore up their balance sheets. from Banking/Finance-Industry-Economic Times https://ift.tt/3rfzW...

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10 lakh customers of other banks using ICICI Bank’s mobile app

Private sector lender expects the number to double over the next two months from Business Line - Money & Banking https://ift.tt/3baW4...

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Banking services may get affected later this month due to proposed strike: Canara Bank

Canara Bank said it is taking necessary steps for smooth functioning of bank branches and offices on the days of the proposed strike. from Banking/Finance-Industry-Economic Times https://ift.tt/2NSzB...

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Bitcoin jumps above $50,000 in recovery from latest rout

Bitcoin held gains above $50,000 in Asia trading on Thursday, putting the largest cryptocurrency back on track after steep losses last week with bulli from Business Line - Money & Banking https://ift.tt/3e8Ez...

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YES Bank gets shareholders’ nod to raise Rs 10,000 crore

YES Bank MD and CEO Prashant Kumar had earlier said the board’s approval to raise Rs 10,000 crore was an enabling provision for raising funds as and when required. from Banking & Finance – The Financial Express https://ift.tt/3cdwX...

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Insurance policy holders can now make e-complaints

​​ The new rules notified through an official gazette also pave way for setting up a complaints management system to enable policyholders to track the status of their complaints online. from Banking/Finance-Industry-Economic Times https://ift.tt/383vS...

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Tide to hire 350 people in Hyderabad, Gurugram this year

With this, the company's total headcount in India will cross 400 by the end of the year, according to a statement. from Banking/Finance-Industry-Economic Times https://ift.tt/3kGnZ...

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CARE appoints Sachin Gupta as Chief Rating Officer

Our Bureau CARE Ratings, on Wednesday, announced the appointment of Sachin Gupta as its Chief Rating Officer.“Gupta will lead the rating analytics tea from Business Line - Money & Banking https://ift.tt/3b8qV...

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HDFC follows SBI, Kotak, cuts home loan rate

HDFC is the second company to cut its home loan rate after Kotak Mahindra Bank which also followed SBI's reduction and cut its rate by 10 basis points on Monday. Kotak is now offering a 6.65% rate till March in a limited period offer. from Banking/Finance-Industry-Economic Times https://ift.tt/2PuDz...

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Axis Bank partners WhatsApp to offer basic banking services

Axis Bank said all the services on WhatsApp Banking will be available 24X7, including holidays. To get on-board, customers need to send a Hi to 7036165000 on WhatsApp. from Banking/Finance-Industry-Economic Times https://ift.tt/307XJ...

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Ujjivan Small Finance Bank's micro loan collection in Assam suffers following loan waiver promise

Micro loan waiver is turning out to be a major political ploy in the northeastern state, derailing the repayment culture for the state's Rs 12,000-crore big microfinance sector. Ujjvan has Rs 364 crore microfinance book in the northeastern state. This is about 3.5% of its total microfinance loans and 2.7% of total loan portfolio of Rs 13,638 crore. from Banking/Finance-Industry-Economic Times https://ift.tt/3bcev...

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Marine insurance: IRDAI in talks with INSA to set up P&I club

The Insurance Regulatory and Development Authority of India (IRDAI) is in talks with Indian National Shipowners Association (INSA) to develop a protec from Business Line - Money & Banking https://ift.tt/3rcB2...

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JPMorgan goes ‘out of this world’ to test blockchain tech; may set stage for payments between IoT devices

According to GomSpace, space-based payments have opened the door to a potential peer-to-peer DvP (data versus payment) satellite marketplace in the long term, as private companies prepare to launch their own constellations. from Banking & Finance – The Financial Express https://ift.tt/3sLdB...

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Amazon, Google, Facebook vie for piece of India’s digital payments market

The companies are part of four consortia preparing to apply for licenses to operate retail payments and settlement systems in the country, people familiar with the matter said. More companies could band together before a March 31 application deadline. from Banking/Finance-Industry-Economic Times https://ift.tt/2NVgO...

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Private banks gear up to undertake govt business

from Business Line - Money & Banking https://ift.tt/3e5lh...

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PayPal to hire 1,000 engineers for its India Development Centres

Global digital payments company PayPal on Wednesday said it will hire 1,000 engineers for its India Development Centres across Bengaluru, Chennai and from Business Line - Money & Banking https://ift.tt/3qfTe...

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Crisil revises outlook on UBI debt instruments to ‘Stable’

It factors in better-than-expected performance of the bank from Business Line - Money & Banking https://ift.tt/3bU41...

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Axis Bank launches WhatsApp banking

Axis Bank has partnered with WhatsApp to offer basic banking services to its customers. “This will allow customers to seek information regarding thei from Business Line - Money & Banking https://ift.tt/2OhQV...

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QIBs allotted 55 crore shares worth ₹4,500 crore

BNP Paribas Arbitrage, SBI Life, LIC, Nippon India Large Cap Fund, ICICI Prudential Business Cycle Fund each allotted more than 5% equity from Business Line - Money & Banking https://ift.tt/3cbGw...

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PayPal to hire 1000 engineers for three India Technology Centers

The centres will be located in Bengaluru, Chennai and Hyderabad from Business Line - Money & Banking https://ift.tt/3e5GT...

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KVGB inks pact with Our Food for arranging processing units to farmers

Vendor will ensure supply, delivery and installation of high-quality, standardised and branded equipment/machinery as per the requirement of the farmer from Business Line - Money & Banking https://ift.tt/2Omlw...

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How the production-linked incentive scheme is galvanising investments into manufacturing

How the production-linked incentive scheme is galvanising investments into manufacturing from Banking/Finance-Industry-Economic Times https://ift.tt/3rdY8...

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Insurance: Now file your complaints electronically to Ombudsman

New amendment rules provides for a complaints management system to track status of complaints online from Business Line - Money & Banking https://ift.tt/384vc...

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Home loans: Banks unleash rate war towards year-end

Moved aimed at growing banks’ topline, signalling prospective borrowers that home loan rates have bottomed and could rise next fiscal from Business Line - Money & Banking https://ift.tt/3uMr6...

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Pent-up demand will come back: HDFC Ergo

Sees a good year ahead for general insurance from Business Line - Money & Banking https://ift.tt/3sEbC...

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Track Insurance complaints online, government amends ombudsman rules

In a statement the finance ministry noted that under the amended rules, the timeliness and cost-effectiveness of the redressal mechanism has been substantially strengthened. from Banking/Finance-Industry-Economic Times https://ift.tt/2NUi9...

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Extreme weather like floods, droughts, cyclones puts $84 billion of Indian banks debt at risk

SBI, HDFC Bank, IndusInd Bank and Axis Bank are among the institutions that reported climate risks to nonprofit environmental disclosure platform CDP in 2020. from Banking/Finance-Industry-Economic Times https://ift.tt/3sDp8...

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India Inc raised $3.73 b via ECB route in January

India Inc raised $3.7316 billion via external commercial borrowings (ECBs) under the automatic route in January 2021, about 26 per cent higher than wh from Business Line - Money & Banking https://ift.tt/2NMr3...

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Capital infusion: Punjab & Sind Bank to convene EGM this month to seek shareholders' nod

With the object to strengthen the capital adequacy of the Public Sector Banks (PSBs), the government has decided to infuse capital to the extent of Rs 5,500 crore in the bank. The capital infusion will be by way of creation, issue and allotment of equity shares in favour of government on preferential allotment basis from Banking/Finance-Industry-Economic Times https://ift.tt/2MKxk...

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Credit Suisse Wealth Management India makes two senior hires

Credit Suisse on Tuesday announced the expansion of its wealth management team in India, with the hire of two senior bankers.Suveer Modi, who has ove from Business Line - Money & Banking https://ift.tt/384Ct...

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Piramal appoints Saurabh Mittal as CTO of retail finance business

 Piramal Capital and Housing Finance on Tuesday announced the appointment of Saurabh Mittal as Chief Technology Officer of its retail finance business from Business Line - Money & Banking https://ift.tt/3b5XK...

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Alvarez & Marsal threatens to sue Altico Capital over fees, might thwart resolution plan

A&M’s contract with Altico was terminated more than a year ago in February 2020 as lenders blamed it on a wrong advice in defaulting a paltry sum to Mashreq Bank. from Banking/Finance-Industry-Economic Times https://ift.tt/307Sn...

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RBI restricting banks from raising stakes in insurance firms - sources

Reserve Bank of India (RBI) rules allow banks to hold up to 50% stakes in insurers and on a selective basis equity holdings can be higher but must eventually be brought down within a certain period. from Banking/Finance-Industry-Economic Times https://ift.tt/383H7...

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Ind-Ra maintains negative outlook for microfinance sector in FY22

Small to mid non-bank MFIs faced challenges in raising funds and managing credit costs from Business Line - Money & Banking https://ift.tt/3q40E...

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PhonePe maintains market leadership in digital payments

Processes 107 crore transactions across UPI, cards and wallets in February. from Business Line - Money & Banking https://ift.tt/2Phrg...

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UPI volume, value contract for first time in 10 months even as YoY growth nearly doubles

UPI transactions in April last year had declined to 999.57 million involving Rs 1,51,140.66 crore from 1,246.84 million transactions worth Rs 2,06,462.31 crore in the preceding month, NPCI data showed. from Banking & Finance – The Financial Express https://ift.tt/303wV...

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SBI led webinar on Indian budget evokes favourable response in Israel

Setting the tone of the interactive webinar, India's Ambassador to Israel, Sanjeev Singla, said, "We have had a landmark budget that marks a directional change and leverages far-reaching reforms that the government is effecting to make our economy more resilient and competitive." from Banking/Finance-Industry-Economic Times https://ift.tt/300VJ...

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SBI-sponsored RRBs launch video-KYC facility

Telangana Grameena Bank, Andhra Pradesh Grameena Vikas Bank become first RRBs in the country to adopt this tech that offers zero contact onboarding of customers, at par with commercial banks from Business Line - Money & Banking https://ift.tt/301S6...

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Kotak Mahindra Bank cuts interest rate on home loans by 10 bps to 6.65 per cent

Kotak Mahindra Bank has announced a further reduction in its home loan interest rates by 10 basis points to 6.65 per cent per annum. This came into ef from Business Line - Money & Banking https://ift.tt/300a0...

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Baring Asia looks to cash out of CMS Info Systems, seeks private equity, strategic buyers

The Hong Kong-based buyout group that owns 100% of CMS is in discussions with JP Morgan and other investment banks to formally launch a sale process shortly, tapping PE and strategic firms, said at least three people aware of the plan. The company received regulatory approval for an IPO in 2017 but didn't proceed because of the demonetisation impact. from Banking/Finance-Industry-Economic Times https://ift.tt/37XV5...

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Government accepts VRS of Oriental Insurance chairman SN Rajeswari

She has already been selected as member (distribution) in insurance regulator, IRDAI. National, Oriental and United have reported solvency ratio of 0.02, 0.92 and 0.30 times respectively, as on March 31, 2020. The solvency margin – the minimum margin of assets required by an insurer in excess of its liabilities – is like a bank’s capital ratios. from Banking/Finance-Industry-Economic Times https://ift.tt/3r8mk...

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Northern Arc raises $50 mn from American development bank to scale up lending to microfinance firms

Microfinance lenders, especially the smaller ones, are facing difficulty in raising resources from banks, which have turned ultra-cautious after the Sambandh Finserve fraud where the promoter has allegedly diverted money into his family-owned entities. from Banking/Finance-Industry-Economic Times https://ift.tt/3b6kr...

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IDBI Bank to set off Rs 45,586-cr accumulated losses against balance in securities premium account

The accumulated losses as at March 31, 2021, shall be ascertained after the audited financial statements are approved by the bank's board, said the lender, as per the draft scheme addressed to its shareholders for setting off the accumulated losses. from Banking/Finance-Industry-Economic Times https://ift.tt/3dVmO...

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SBI lowers home loan rates to 6.70%

State Bank of India (SBI) has lowered the minimum interest rate at which it will offer home loans from 6.80 per cent to 6.70 per cent for a limited pe from Business Line - Money & Banking https://ift.tt/3bJqr...

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Mudra loans tide over Covid-19 blues

Job loss in urban areas pushing up rural demand for petty business loans from Business Line - Money & Banking https://ift.tt/3kzKn...

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Transactions via UPI, IMPS register marginal decline in Feb

Transactions on FASTags, Bharat BillPay climb new highs from Business Line - Money & Banking https://ift.tt/3dVmu...

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Banks to wrench credit market share away from non-banks: Crisil

Our Bureau Bank credit is seen growing 400-500 basis points (bps) higher at 9-10 per cent next fiscal as the Indian economy recovers, supported by bud from Business Line - Money & Banking https://ift.tt/380du...

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HDFC Bank faces intermittent problems in mobile, net banking

Customers take to social media to complain about the issue from Business Line - Money & Banking https://ift.tt/3r5X8...

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Riskier currencies recover from Friday carnage; dollar consolidates

‘USD direction is likely to hinge on not only the direction, but also the pace, of global bond moves’ from Business Line - Money & Banking https://ift.tt/3r8UO...

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HDFC Sec blocks trading in NSE cash for limited period; bourse says ops normal

We request our customers to place cash orders on BSE. All other segments are working fine: HDFC Securities from Business Line - Money & Banking https://ift.tt/3sDdm...

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SBI to contribute ₹11 cr to PM Cares Fund to help fight Covid-19

Early last year, SBI committed 0.25 per cent of its annual profit to support the fight against Covid-19 from Business Line - Money & Banking https://ift.tt/3r4EF...

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SoftBank’s internet business to invest $4.7 bn in tech over five years

SoftBank’s internet arm Z Holdings is targeting sales of 2 trillion yen and operating income of 225 billion yen by 2023 from Business Line - Money & Banking https://ift.tt/302mb...

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HDFC Bank faces intermittent downtime on Payments stack

“Some users have complained about facing difficulties in processing transactions, it’s not a widespread issue, our IT teams are looking into the issue to ensure smooth delivery of our services,” said a bank official. “Meanwhile, we apologise for the inconvenience caused to our customers.” from Banking/Finance-Industry-Economic Times https://ift.tt/3sABM...

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Federal Bank to launch credit cards in next few months

Bullish about retail portfolio, inward remittances from Business Line - Money & Banking https://ift.tt/3b1iY...

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Matam Venkata Rao appointed MD & CEO of Central Bank

Prior to his new posting, Rao was Executive Director of Canara Bank from Business Line - Money & Banking https://ift.tt/3dSnB...

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Time right for private investment to come alive: RBI Bulletin

“All engines of aggregate demand are starting to fire; only private investment is missing in action...Will Indian industry and entrepreneurship pick up the gauntlet?” per the article “State of the Economy” put together by RBI Deputy Governor MD Patra and 19 other RBI officials from Business Line - Money & Banking https://ift.tt/3aZGz...

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State Bank of India (SBI) cuts home loan interest rates, offer ending on 31 March

from Banking/Finance-Industry-Economic Times https://ift.tt/3b46a...

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SBI General forges bancassurance tie-up with Indian Overseas Bank

Through the alliance, SBI General will offer a range of general insurance solutions and innovative products to IOB customers, SBI General said in a release. Chennai-headquartered IOB has over 3,200 branches across the country and also has overseas presence. from Banking/Finance-Industry-Economic Times https://ift.tt/3dXdG...

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Canara Bank's Executive Director Matam Venkata Rao appointed as new MD & CEO of Central Bank

The central government through a gazette notification on February 26, 2021 has appointed Matam Venkata Rao, Executive Director, Canara Bank, as Managing Director and Chief Executive Officer in Central Bank of India for a period of three years, Canara Bank said in a regulatory filing. from Banking/Finance-Industry-Economic Times https://ift.tt/37YeT...

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Paytm leads India’s digital payments with 1.2 billion monthly transactions

Registers highest growth in offline payments & financial services from Business Line - Money & Banking https://ift.tt/3uJKQ...

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HDFC Securities says it blocked NSE cash trading due to tech glitch

There were rumours of yet another tech-glitch at the National Stock Exchange (NSE) on Monday morning. This is after HDFC Securities, one of the large from Business Line - Money & Banking https://ift.tt/3q4JF...

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SBI General Insurance, IOB sign bancassurance pact

SBI General Insurance and Indian Overseas Bank have signed a bancassurance agreement for distribution of non-life offerings.“Through the alliance, SB from Business Line - Money & Banking https://ift.tt/3sFd0...

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CBDT Chairman Pramod Chandra Mody gets further extension for three months

Mody is a 1982-batch Indian Revenue Service officer, was appointed as the CBDT chief in February 2019. from Banking/Finance-Industry-Economic Times https://ift.tt/3dVT5...

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Attracting ‘new money’ will be a challenge for the ARC

Book building for the new ARC may be easy, but its success will depend on the ability to develop a vibrant distressed debt market from Business Line - Money & Banking https://ift.tt/37Ypw...

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Will the bad bank appeal to everybody’s palate?

For it to take wings, design issues must be sorted out – the final structure holds key for it to succeed in a mixed economy like India from Business Line - Money & Banking https://ift.tt/2Pc5p...

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View: How the government can truly make India's state-run banks efficient just like their private sector peers

Since financial institutions are within the administrative control of the finance ministry, these will no doubt have early implementation. There have also been statements from the Reserve Bank governor of the nature of the ARC that will be set up. These actions portend that GoI will walk the talk. from Banking/Finance-Industry-Economic Times https://ift.tt/3kuYQ...

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GST annual returns for FY20 can now be filed till March 31

Our Bureau The Finance Ministry, on Sunday, further extended the due date for filing annual GST returns for FY20 to March 31. “In view of the difficul from Business Line - Money & Banking https://ift.tt/3dXsG...

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SME lender NeoGrowth Credit launches digital initiatives for small borrowers

The platform was conceptualised based on a research done during the pandemic that small businesses need to digitise their offerings to meet stiff competition from big brands and shopping apps and portals. from Banking/Finance-Industry-Economic Times https://ift.tt/3aZdA...

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Six Franklin Templeton schemes receive ₹475 cr

The six debt schemes of Franklin Templeton India received ₹475 crore from maturities, coupons and prepayments in the fortnight ended February 26.The t from Business Line - Money & Banking https://ift.tt/3b3bD...

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Private health insurers offering 80-100% discounts on renewal premia

Most health insurance provides no-claim bonus for claim-free years but that usually ranges from 25 per cent to 50 per cent. from Banking/Finance-Industry-Economic Times https://ift.tt/2NLqJ...

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IDBI Bank to set-off accumulated losses after declaring Q4 FY21 results

IDBI Bank is planning to set off accumulated losses of about Rs 44,500 crore against the balance standing to the credit of the Securities Premium Acco from Business Line - Money & Banking https://ift.tt/3dSx4...

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Prepared to handle any responsibility given by govt: IIFCL MD

The Union Budget 2021-22 presented in Parliament earlier this month proposed to set up a Development Finance Institution (DFI) with an initial capital of Rs 20,000 crore to fund the Rs 111 lakh crore ambitious National Infrastructure Pipeline (NIP). from Banking/Finance-Industry-Economic Times https://ift.tt/37S8R...

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Insurance is the most preferred financial product to protect family post-Covid: Survey

30 per cent of the people invested in life insurance for first time during the pandemic, says survey from Business Line - Money & Banking https://ift.tt/3uzAa...

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Survey finds insurance as most preferred financial product to protect family post-Covid

The survey found that most consumers would like to buy life insurance in the next six months as part of their investment plans. from Banking/Finance-Industry-Economic Times https://ift.tt/2MB0Y...

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