Sudipta Roy to helm L&T Finance Holdings from Jan 2024

Incumbent MD & CEO Dinanath Dubhashi will superannuate from the Company on April 30, 2024

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UPI transactions dip 0.9% in June but still show strong YoY growth

This is the first decline in transaction volume since February, but UPI is still expected to dominate the retail digital payments landscape in the coming years.

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SBI appoints Kameshwar Rao Kodavantias CFO

Rao, who is a a Chartered Accountant (CA), has been working with the Bank since August 1991, SBI said in a regulatory filing.

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Paytm Shriram Finance in pact to extend financial services to small merchants

Core objective is to target small merchants who don’t have assets or documents to avail loans

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Synergies between HDFC Bank and group companies to deepen following merger: Parekh

The merger aims to enhance home loans with HDFC Bank’s strengths, leverage digitalisation platforms, and maximize the distribution network

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Federal Bank expands footprint by opening 8 new branches

The branches, located in Telangana, Karnataka, Tamil Nadu, and Rajasthan, aim to enhance accessibility and convenience for customers.

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State Bank of India appoints four directors

Rajesh Kumar Dubey and Dharmendra Singh Shekhawat were added to the board

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HDFC vaults into ranks of worlds most valuable banks

The tieup of HDFC Bank and HDFC creates a lender that ranks fourth in equity market capitalisation, valued at about $172 billion

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Customers face brunt of new bank locker rule

With Friday being the last date for updating 50% of locker agreements, banks are urging customers to sign the new contracts. But lack of uniformity, even between branches of the same bank, is proving to be a hurdle.

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Chaos reigns on bank locker update

With Friday being the last date for updating 50% of locker agreements, banks are urging customers to sign the new contracts. But lack of uniformity, even between branches of the same bank, is proving to be a hurdle.

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Public sector banks hold more fully-insured deposits than private sector banks

The insured deposit ratio of PSBs was at 51.3% against 36.6% for PVBs at the end of March 2023, says Financial Stability Report

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Paytm: Know how to pin contacts for quick pay

Guide to pin contacts in Paytm app

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The largest US banks would survive a severe recession the Fed's 'stress tests' show

However, the Fed's report showed some relative weakness among the midsize banks and "super regional" banks

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Indian economy makes solid recovery despite global headwind: RBI governor Das

India's economy has experienced a solid recovery and is one of the fastest-growing large economies, according to Reserve Bank Governor Shaktikanta Das. Financial stability is crucial, and all stakeholders must work to preserve it. The global financial system has faced significant strain, while India's financial sector has remained stable and resilient.

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Bandhan Bank triples branch network; diversifies presence across the country

With rapidly growing branch network and digital offerings, Bandhan Bank remains committed to further enhancing security and accessibility for customers: Ghosh

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Bajaj Allianz Life net income jumps 20% to 390 crore in FY23

During the last fiscal, the company added 29 per cent more customers at 5.38 lakh from 3.86 lakh, taking the number of individual lives covered to over 28,63,800.

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South Indian Bank signs MoU with M&M for dealer financing

SIB will provide finance solutions to M&M’s dealers to meet their vehicle inventory funding requirements

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Now apply for Mahila Samman Savings Certificate in banks

The small savings scheme, available up to March 2025, offers deposit facility up to Rs 2 lakh in the name of women or girls, for a tenor of 2 years at a fixed interest rate of 7.5 per cent

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HDFC to bank on culture of trust to preserve legacy

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HDFC-HDFC Bank merger on July 1

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No transactions and settlements in various markets regulated by RBI June 29

The settlement of all outstanding transactions due on June 29, 2023 will accordingly get postponed to the next working day

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Eid holiday: Indian stock markets to remain closed on Thursday

India's equity market will be shut on Thursday instead of the previously scheduled Wednesday due to Maharashtra changing the date for Eid late on Monday. Traders confirmed that forex and bond markets would also be closed, yet no official statement has been made by the Reserve Bank of India overseeing those markets.

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RBI Deputy Governor Swaminathan to oversee six departments including Supervision and Inspection

He will also handle the Financial Inclusion and Development, Premises and Rajbhasha Departments

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ICICI Pru Life gets GST demand notice for 492 cr

During the course of inquiry, ICICI Prudential Life deposited ₹190 crore, without accepting any liability in this regard

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'Ex-ICICI Bank CEO Kochhar got Rs 64 crore illegal gratification'

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A dialogue with the govt does not mean compromising central bank autonomy: RBI Guv Shaktikanta Das

There is a need to build a working relationship with the government: RBI Governor

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RBI may cut rates in early 2024 as inflation eases: S&P Global Ratings

Annual retail inflation cooled to a more than two-year low of 4.25 per cent in May as cost pressures on food eased

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PSBs expand agriculture gold loan portfolio for easy assessment and recovery

These loans are favoured by both farmers and banks due to their lower interest rates and easier recovery process through gold auctioning.

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Kerala Finance Corporation declares 21-crore dividend

Kerala government to increase KFC’s loan size to ₹10,000 crore

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HDFC sells mortgaged land to Lodha for Rs 70 crore

HDFC sold the land to recover a Rs 250-crore loan given to Neptune Ventures and Developers

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ICICI Securities board to meet on June 29 to consider delisting shares

The board’s decision comes after shares of ICICI Securities surged 8.9 per cent intraday on Friday to a high of Rs 572.70 on the NSE

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Banks bond issues picking up pace on strong demand rate uncertainty

A a number of banks have already lined up their bond issues and more are expected to follow suit in the coming weeks

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Bank loans to NBFCs under RBI scanner

RBI may ask banks to increase provisioning to this category of loans as a measure of prudence 

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