HDFC Bank Q2 net jumps 20 per cent on strong loan growth, better asset quality

HDFC Bank’s loan growth registered 23 per cent growth; NII was up 19 per cent from The HinduBusinessLine - Money & Banking https://ift.tt/LAlTV...

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Govt notifies revised wages for general insurance staff, links next revision with performance

The revised structure will be applicable to those officers and employees who were in the service of the Corporation or Company as on or after August 1, 2017 from The HinduBusinessLine - Money & Banking https://ift.tt/TNfHt...

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Sundaram Finance increases interest rates on term deposits

Senior citizens will get an additional interest of 0.35 per cent for one, two and three years, respectively. i.e, 7.00 per cent from The HinduBusinessLine - Money & Banking https://ift.tt/WpHU3...

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PM Modi to inaugurate 75 digital banking units on Sunday, including 2 of J&K Bank

As part of the Union budget 2022-23, Finance Minister Nirmala Sitharaman had announced the setting up of the 75 DBUs in as many districts of the country to commemorate 75 years of India's Independence. The DBUs are being set up to ensure that the benefits of digital banking reach every nook and corner of the country. Eleven banks in the public sector, 12 in the private sector and one Small Finance Bank are participating in the endeavour. from Banking/Finance-Industry-Economic Times https://ift.tt/9Of53...

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Union Asset Management launches new office in Bengaluru

Bengaluru has become one of the key markets for the Fund with a larger engagement base than before, its CEO says from The HinduBusinessLine - Money & Banking https://ift.tt/uVP6h...

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Shriram Group denies reports of bidding for IDBI Bank

The government and LIC, which cumulatively hold 95 per cent, are looking to sell 61 per cent shareholding in IDBI Bank. from The HinduBusinessLine - Money & Banking https://ift.tt/LMxIm...

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Federal Bank posts highest ever quarterly PAT of ₹704 crore in Q2

Loan growth up 19 per cent YoY from The HinduBusinessLine - Money & Banking https://ift.tt/gwFRY...

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DICGC rejects banks’ request to exempt certificates of deposit from insurance coverage

Currently, banks pay an insurance premium of 12 paise per ₹100 of deposit raised from The HinduBusinessLine - Money & Banking https://ift.tt/Vxpnu...

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India briefs G20 FMs, central bank guvs on its 2023 agenda

India on Thursday briefed the finance ministers and central bank governors of G-20 countries about its agenda for the next year when it assumes the rotating annual presidency of the grouping. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/FBp6O...

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Federal Bank net profit jumps 53 pc to ₹703 cr in Sept qtr

The bank’s provisions for bad loans for September quarter came down to Rs ₹267.86 crore from The HinduBusinessLine - Money & Banking https://ift.tt/Q5IFU...

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FM Sitharaman calls for effective tax reporting regime for crypto assets

Sitharaman spoke on infrastructure, investments and international taxation at G20 Finance Ministers meeting from The HinduBusinessLine - Money & Banking https://ift.tt/vUpNZ...

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Why banks want you to swipe new credit card soon

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/iNLH5...

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Shriram Group likely to submit EoI for IDBI Bank

While talks to form a consortium with financial investors are also underway, Shriram has not reached a mutually acceptable commercial arrangement with investors that may want to join its consortium. If a consortium is formed, the non-bank lender will be the lead member. from Banking/Finance-Industry-Economic Times https://ift.tt/UZTHw...

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Lenders of two Srei companies extend offer deadline by a month

After lenders restarted the sale process of Srei Equipment Finance and Srei Infrastructure Finance, administrator Rajnish Sharma had set a deadline of October 15 for accepting resolution plans. from Banking/Finance-Industry-Economic Times https://ift.tt/tJK3c...

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Understanding the difference between hybrid, equity, and debt funds

All mutual funds have some kind of investment risks and hence, investors must consult their financial advisor to make an investment decision based on their risk tolerance. from Banking/Finance-Industry-Economic Times https://ift.tt/JKSY9...

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Financial sector regulators unveil inter-operable regulatory sandbox

To facilitate fintech innovations and to engage with different regulators regarding their hybrid product from The HinduBusinessLine - Money & Banking https://ift.tt/uY9HX...

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SBI to offer up to 0.25% concession on home loans for limited period

The interest rate for buyers of new home loans as well as takeovers starts at 8.40% and top-up loans at 8.80% from The HinduBusinessLine - Money & Banking https://ift.tt/i1Fac...

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IIFCL aims to more than treble its InVIT exposure to ₹3,500 crore by March

Sanctions for InVITs touch ₹2,400 crore so far this fiscal from The HinduBusinessLine - Money & Banking https://ift.tt/hr9JI...

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Chennai can be among top 3 markets for ACKO: Ashish Mishra

Acko is a D2C insurance brand offering products at a reduced premium from The HinduBusinessLine - Money & Banking https://ift.tt/6pVyY...

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SBI launches festival discounts on home loans

SBI will offer a concession of up to 0.25 per cent on home loans from The HinduBusinessLine - Money & Banking https://ift.tt/l2byH...

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RBI asks banks to stop building positions in offshore market, say bankers

The RBI's informal communication to local bankers is a step back from the directions it issued in June 2020, when it allowed banks operating from the International Financial Services Centre Banking Units to trade in the NDF segment. from Banking/Finance-Industry-Economic Times https://ift.tt/Pm1Jy...

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Retail inflation at 5-month high of 7.4%, IIP contracts 0.8%

Retail inflation surged to a five-month high in September on the back of stubborn food prices, triggering fears of more interest rate hikes by the Reserve Bank of India (RBI) to tame price pressure, while industrial output contracted in August, posing a fresh challenge for policymakers battling to keep growth intact against the backdrop of a slowing global economy. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/AM6UD...

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Rupee marginally up as RBI steps in, awaits inflation data

The rupee eked out slim gains against the dollar on Wednesday as investors remained risk averse ahead of domestic inflation data, with the Reserve Bank of India likely stepping in to halt a further slide in the local currency. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/DayUY...

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Kotak Mahindra Life bullish on growth; registers 27% growth in H1FY23

Our focus is on sustainable growth and not just ramping up top-line, says its chief from The HinduBusinessLine - Money & Banking https://ift.tt/Asa8w...

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RuPay in UAE, UPI in US? Here's what FM said

UAE, Singapore to accept RuPay payments from now on. Know what Nirmala Sitharaman said on RuPay payments in countries abroad. from Banking/Finance-Industry-Economic Times https://ift.tt/aE0Vh...

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TCS launches solution to help in roll-out, use of digital currencies

As major central banks work towards roll-outs of digital currencies, India's largest software exporter TCS on Tuesday announced a solution which will aid in their roll-outs and usage. The Tata Group company has enhanced its blockchain solutions platform Quartz to enable central and commercial banks to support the entire lifecycle of Central Bank Digital Currency (CBDC) issuance, book-keeping and transactions. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ZxE...

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Life insurers' new biz premium up 17 pc at Rs 36,367 crore in September: Irdai

The largest and the only state-owned insurer LIC recorded a jump of nearly 35 per cent in the new premium income of Rs 24,991.26 crore in September 2022-23, as against Rs 18,520.21 crore in same period of 2021-22, showed the data from the Insurance Regulatory and Development Authority of India (Irdai). from Banking/Finance-Industry-Economic Times https://ift.tt/S7u0M...

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IDBI Bank sale: Corporates cannot be bidding consortium members

Large corporates have been disallowed from being even a minority shareholder in consortium wanting to bid for 61 per cent stake in IDBI Bank, as the current RBI norms bar industrial houses from becoming bank promoters, an official said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/PhSIO...

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Standalone primary dealers can offer all forex market-making facilities: RBI

SPDs were permitted to undertake foreign currency business for limited purposes from The HinduBusinessLine - Money & Banking https://ift.tt/5XywY...

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RBI norms prohibit corporates to participate in IBDI Bank sale

The RBI guidelines have barred corporates from being even a minority shareholder in consortium wanting to bid for 60 per cent stake in IDBI Bank's strategic sale process. ​​The current RBI norms bar industrial houses from becoming bank promoters, an official said. As per the RBI guidelines, industrial houses can hold a maximum of 10 per cent stake in private sector banks, but they cannot be a promoter. from Banking/Finance-Industry-Economic Times https://ift.tt/bl2Iq...

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We are always open to acquisitions: Shanti Ekambaram, Kotak Mahindra Bank

Kotak Mahindra Bank is interested in lapping up portfolios or customer segment  from The HinduBusinessLine - Money & Banking https://ift.tt/LtcpO...

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Securitisation volumes jump 70% year-on-year in H1FY23: ICRA

NBFCs, housing finance see robust credit growth with easing Covid anxiety from The HinduBusinessLine - Money & Banking https://ift.tt/xS4Ta...

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HDFC Bank's strong Q2 loan growth tells the story of India's revival amid rising rates

A strong credit growth in the second quarter shows that the economy is on the mend and consumers are not holding back amid higher inflation and tightening interest rates. India's largest private lender HDFC Bank's loan book showed a remarkable growth of 23% in the July-September quarter, a good 700 basis points or 7% above the systemic growth. from Banking/Finance-Industry-Economic Times https://ift.tt/NLPHq...

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Economy’s slow-but-steady activity awaits festive boost

S&P Global India said weak external demand weighed on overall sales, while the World Bank separately cut India’s growth forecast for the year to March by a full percentage point to 6.5%, citing rising borrowing costs and global risks. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/6083r...

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Karnataka Bank records 32.82% CASA in Q2 2022-23

Core deposits of Karnataka Bank stood at ₹81,628.97 crore in Q2 2022-23 from The HinduBusinessLine - Money & Banking https://ift.tt/Ajnbe...

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Banks for including electric vehicles, green hydrogen in priority lending

from Banking/Finance-Industry-Economic Times https://ift.tt/pIiL6...

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Warburg Pincus to pick up majority Stake in Vistaar Finance

Transaction details and the acquisition value have not been disclosed.  from The HinduBusinessLine - Money & Banking https://ift.tt/Msp3A...

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South Indian Bank sets world record by staging and swinging 101 'oonjals'

South Indian Bank on Sunday bagged the world record for organising a first-of-its-kind category event of staging and swinging 101 'oonjals' simultaneously at a single venue. South Indian Bank MD and CEO Murali Ramakarishnan along with its group business head Thomas Joseph K received the World Book of Records certification. from Banking/Finance-Industry-Economic Times https://ift.tt/RSYA5...

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FinMin designates one DRT each in Chennai, Delhi and Mumbai to deal with high-value cases

For speedy recovery in high-value cases of ₹100 crore and above from The HinduBusinessLine - Money & Banking https://ift.tt/F5itz...

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No material impact of rate hike on demand for home loans, shows RBI data

Home loan outstanding of banks has clocked double-digit growth in the first five months of the current fiscal, despite the Reserve Bank raising the key interest rate thrice during this period by a whopping 140 basis points (bps), which led to a hike in the home loan rate. from Banking/Finance-Industry-Economic Times https://ift.tt/KXypu...

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Home loan outstanding of banks doubles in last 5yrs

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

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South Indian Bank sets world record for staging and swinging 101 ‘oonjals’

The event was intended to introduce traditional festival art forms in a unique way to the new generation from The HinduBusinessLine - Money & Banking https://ift.tt/fTDVZ...

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Finance Ministry considers measures like auto debiting other a/cs of issuer to curtail cheque bounce cases

The finance ministry is considering multiple ways such as dipping into other accounts of a cheque issuer and prohibition of opening of new accounts of offenders to effectively deal with cheque bounce cases. These cases have been clogging the legal system. Many suggestions were made at a high-level meeting recently called by the ministry to deal with the high incidence of cheque bounce cases, reported PTI. from Banking/Finance-Industry-Economic Times https://ift.tt/cDbuA...

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SBI to begin a fire auction of NPAs of Rs 746 crore in Oct-Nov

To recoup more than Rs 746 crore, the State Bank of India (SBI) has lined up a number of non-performing assets for sale this month and the following month, including the fraud account of Sintex BAPL. from Banking/Finance-Industry-Economic Times https://ift.tt/wdmHP...

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State Bank of India announces launch of the fourth phase of the ‘SBI Gram Seva’ program

The inauguration event was conducted at Shimurali Gram Panchayat in West Bengal by SBI Regional Manager, Operations Head, among others from The HinduBusinessLine - Money & Banking https://ift.tt/ZMdqF...

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Private crypto coins undermine financial stability: RBI

A Reserve Bank of India (RBI) concept note on central bank digital currency (CBDC) has flagged risks posed by private cryptocurrencies saying these digital assets undermine India’s financial and macroeconomic stability because of their negative consequences for the financial sector. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/YtBOu...

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