HDFC Bank’s Q4 PAT up 20% on strong growth in NII

Board recommends record ₹19 dividend from | The HinduBusinessLine https://ift.tt/FwkRG...

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SBI reintroduces 400 days ‘Amrit Kalash’ retail term deposit scheme

The scheme, available from April 12, 2023 till June 20, 2023 offers a 7.10 per cent interest rate from | The HinduBusinessLine https://ift.tt/1Xp9o...

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HDFC Bank posts 21% rise in Q4 PAT; dividend of Rs 19/share announced

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

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HDFC Bank Q4 net profit rises 20% to ₹12,594 crore

For FY23, the HDFC Bank reported a net profit of ₹45,997.11 crore against ₹38,052.75 crore in FY22.  from | The HinduBusinessLine https://ift.tt/psERo...

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Mudra loan disbursement touches all-time high at ₹4.46-lakh cr in FY23

Higher disbursement growth in comparison to sanctions indicates borrowers’ improved willingness for credit utilisation, says expert from | The HinduBusinessLine https://ift.tt/htUl0...

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Funding constraints may hamper NBFCs' loan growth this fiscal: Report

The rising share of bank funding has helped NBFCs offset the sluggishness in capital markets, which remained lukewarm during the pandemic and pricey during the first nine months of FY23. from Banking/Finance-Industry-Economic Times https://ift.tt/pVj1N...

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India's forex reserves jump to 9-month high

India's foreign exchange reserves jumped to $584.76 billion for the week ended April 7, the highest in nine months, the Reserve Bank of India's (RBI) statistical supplement showed on Friday. That is an increase of $6.3 billion from the previous week. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/yIVTo...

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Muthoot Finance to raise ₹300 crore through secured NCD’s

The base size of the issue is ₹75 crore with an option to retain over-subscription up to ₹225 crores, aggregating up to a tranche limit of ₹300 crore from | The HinduBusinessLine https://ift.tt/Zrh53...

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SBI to replace over half of its ATMs/ADWMs in three years

SBI will “colour code” (categorise) branches based on continued achievement of business targets from | The HinduBusinessLine https://ift.tt/D6S5j...

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InCred Alternatives launches ₹1,000-cr Category III investment fund

The fund aims to deliver strong positive absolute returns with low risk in all market conditions, the company said from | The HinduBusinessLine https://ift.tt/fZhBe...

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Commission caps gone, insurers to face more competition

The Indian insurance regulator's decision to abolish commission caps has led to increased competition among insurers to attract market share, particularly unlisted players who are offering higher commissions to bank. While it is hoped that there will be more transparency in payouts to distributors, it is unclear whether insurers will alter payouts significantly in pursuit of rapid growth or stick to profitability. from Banking/Finance-Industry-Economic Times https://ift.tt/C3Uvx...

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RBI begins evaluating potential bidders for IDBI Bank

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

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‘Our corporate banking franchise is differentiated’

KVS Manian, whole-time director of Kotak Mahindra, on the road ahead for his company and the banking sector from | The HinduBusinessLine https://ift.tt/kBNPr...

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RBI begins evaluating potential bidders for IDBI Bank

The Reserve Bank of India (RBI) has begun evaluating at least five potential bidders interested in picking up a majority stake in state-owned IDBI Bank Ltd. Kotak Mahindra Bank, Prem Watsa-backed CSB Bank and Emirates NBD are among those that have submitted expressions of interest from Banking/Finance-Industry-Economic Times https://ift.tt/3zwtO...

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Canara Bank, Bharat BillPay tie up for cross border bill payments for Indian diaspora in Oman

Canara Bank and NPCI Bharat BillPay (NBBL) have launched a cross-border inward bill payment service for Indians in Oman. Through the Bharat Bill Payment System (BBPS) platform offered by NBBL and Musandam Exchange, the platform will enable non-resident Indians (NRIs) to conveniently pay bills for their families back home. Canara Bank is the first public sector bank in India to offer inbound cross-border bill payments via BBPS. from Banking/Finance-Industry-Economic Times https://ift.tt/ktR8r...

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'RBI to extend rate pause through year-end, likely done hiking'

The Reserve Bank of India is expected to keep interest rates unchanged until the end of the fiscal year, according to a Reuters poll of economists. Despite inflation nearing the top level of the 2-6% tolerance range, a majority of 51 economists predicted the bank would not increase rates; only one-sixth expected a hike of 25 basis points to 6.75% by year-end. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/b5GJv...

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Canara Bank, Bharat BillPay tie up for cross-border bill payments for Indian diaspora in Oman

NRIs can now leverage the robust platform offered by the Bharat Bill Payment System to make bill payments on behalf of their families through the Musandam Exchange from | The HinduBusinessLine https://ift.tt/kh2Ez...

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Regulator Irdai looking at 20 more insurance applications, says Chairman Debasish Panda

India's insurance regulator, Irdai, has granted a license to general insurer Kshema General Insurance, the first since 2017. This follows the recent licensing of Credit Access Life and Acko Life. Irdai is currently considering around 20 more applications from prospective insurers. Irdai's chairman, Debasish Panda, told reporters that the regulator wants the industry to take seriously the "Insurance for all by 2047" mandate and the industry should look at devising ways to insure the segments of the economy that are currently uninsured. from Banking/Finance-Industry-Economic...

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Bank of India plans to raise ₹6,500 crore in FY24

Bank of India’s board will consider the proposal at a meeting on April 18, 2023 from | The HinduBusinessLine https://ift.tt/vDkyX...

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UBS weighs retaining Credit Suisse unit serving India’s rich

UBS Group is considering the retention of Credit Suisse's Indian private banking unit after the emergency rescue of its rival last month. If the considerations are approved, UBS would be given a stronger foothold in the increasing number of Indian billionaires while effectively marking Khan's return to his past role at Credit Suisse. UBS opted along with other leading firms to withdraw from India's private-wealth market by 2014. from Banking/Finance-Industry-Economic Times https://ift.tt/b0liV...

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India G20 presidency aims to develop common framework to deal with crypto risks: FM

FM also said G20 is trying to bring together all countries to address debt distress in middle-income and low-income nations like Sri Lanka and Ghana from | The HinduBusinessLine https://ift.tt/PB9XI...

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Softbank-backed OfBusiness to buy Koeleman India

Gijs de Rooij, director of Koeleman Beheer and Koeleman India, said he had a "great experience" dealing with OfBusiness and Singhi Advisors. "From a European perspective, the perceived risk of selling a company in India is high, and there are many administrative differences between The Netherlands and India," he said in an email response to ET's query. OfBusiness did not respond to a request for a comment. from Banking/Finance-Industry-Economic Times https://ift.tt/vRKgj...

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SBI looks to raise up to $2 billion in FY24 via overseas bond sales

State Bank of India plans to raise up to $2bn in foreign bond sales by FY 2024, with board members set to discuss a fundraising strategy during 18 April’s meeting. SBI reportedly accounts for around 20% of all of India's outstanding bank loans, and is expected to issue senior unsecured notes in multiple tranches and any currency under Reg-S/144A. Debt-market analysts note the maximum foreign bond sales for HDFC Bank, ICICI Bank, and Axis Bank amounted to around $1bn or below for a given financial year. from Banking/Finance-Industry-Economic Times...

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High-yielding loans, lower provisions to boost bank nos

Analysts say robust credit offtake and resolutions of a few stressed assets too will boost March quarter performance. from Banking/Finance-Industry-Economic Times https://economictimes.indiatimes.com/industry/banking/finance/banking/high-yielding-loans-lower-provisions-to-boost-bank-nos/articleshow/99388415.c...

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RBI brings out norms for outsourcing of IT services

The RBI has directed all regulated entities to ensure that the service provider employs the same high standard of care in performing the services as would have been employed by regulated entities if the same activity was not outsourced. from Banking/Finance-Industry-Economic Times https://ift.tt/5Srn4...

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NCLT has power to recall its order, say ex-Srei promoters’ counsel

The matter has been posted for further hearing on April 11 from | The HinduBusinessLine https://ift.tt/8pKrf...

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G20 development banks panel may list priorities at September meet

The nine-member expert group is headed by India's 15th Finance Commission chairman NK Singh and former US treasury secretary Larry Summers. The expert group plans to submit its report by June 30. from Banking/Finance-Industry-Economic Times https://ift.tt/R1dU5...

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Make it a two-way street: Online bank account or loan closure must be seamless

Try closing your loan or your savings account with a click of a button, it’s practically a tug of war between you and the bank from | The HinduBusinessLine https://ift.tt/ojKbl...

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Let’s colour it green

Everyone wants to be green and if the new colour can ring in some moolah at decent rates, then why not. from | The HinduBusinessLine https://ift.tt/wG719...

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Arohan Financial Services raises Rs 730 crore in share sale to private equity investors

American asset manager Nuveen and Dutch development bank FMO have put in Rs 165 crore each in Arohan while Piramal Alternatives and a European development financial institution invested Rs 200 crore each. from Banking/Finance-Industry-Economic Times https://ift.tt/18Whb...

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Lenders likely to post robust Q4 numbers; PSU banks profit may touch record high of Rs 1 lakh cr in FY23

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

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Making money mobile friendly

Distributing pre-approved loan through UPI is a step towards easy access to credit from | The HinduBusinessLine https://ift.tt/ZiXoQ...

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