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Total deposits of the private sector lender rose by 21 per cent to Rs 99,365 crore at end of September quarter 2022, as against Rs 81,898 crore a year ago.
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he world is facing a "fifth wave of debt crisis," World Bank President David Malpass warned Friday, calling for more support for countries in distress.
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Yes Bank agreed to sell 480 billion rupees ($5.9 billion) of a bad loan portfolio last month to JC Flowers’ ARC, a move Kumar said will help boost its profitability. The sale is a major step by the bank toward shedding the mountain of stressed loans that led to its shock rescue by India’s central bank in March 2020.
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"We would like to inform that RBI vide its letter dated October 6, 2022, has approved the appointment of Prashant Kumar as the MD &CEO of the Bank for a period of three years effective from today i.e. October 6, 2022," Yes Bank said in a regulatory filing on Thursday.
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The directions, issued by the Reserve Bank of India, include the appointment/tenure, role and responsibilities, procedural guidelines, and oversight mechanism for the Internal Ombudsman. All complaints that are partly or wholly rejected by CreditInformation Companies will be reviewed by the IO before the final decision of the CIC is conveyed to the complainant, it said, adding that the IO will not entertain any complaints directly from the members of public.
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Home loan rates have risen sharply in the past fi ve months, from 6.5% to 8.25%. A 20-year home loan taken in 2019 at 6.7% will get repaid in 21 years, even though EMIs have been paid for three years.
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The 15-month delay after the National Company Law Tribunal (NCLT) had approved the plan has made lenders wary of the consortium's promises.
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That could create scarcity in the world's second-biggest market for gold, and force Indian buyers to start paying hefty premiums for supplies in the approaching peak-demand season.
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RBL Bank, which has seen slow growth in liabilities, is also set to offer attractive rates of interest on deposits to grow CASA deposits up to 40% as it weans itself away from the fickle bulk deposits.
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Gross of transfers through inter-bank participation certificates and bills rediscounted, the bank's advances grew by around 25.8 per cent over September 30, 2021, HDFC Bank said in a regulatory filing. The bank's deposits aggregated to approximately Rs 16.73 lakh crore as of September 30, 2022, nearly 19 per cent higher from Rs 14.06 crore as of September 30, 2021, it added.
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"UPI P2P accounted for 49 per cent in volume and 67 per cent in value but in terms of merchants' transactions, UPI P2M emerged as the preferred payment mode with a market share of 34 per cent in volume and 17 per cent in terms of value," said Worldline's 'India Digital Payments Report'.
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NARCL has offered ₹228 crore for Mittal Corp debt held by public sector banks (PSBs) totalling ₹1,414.5 crore, people aware of the development said. This equates to a recovery of 16% for these lenders.
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Gross income from dividend for the July-September period of this fiscal was at ₹1,360 crore. The non-bank lender did not make any profits on sale of investments in the quarter under review.
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Customers can activate the banking facility on WhatsApp by sending hi/hello on number customers +919264092640 on WhatsApp, the state-owned lender said in a statement. Non-financial services such as balance inquiry, last five transactions, stop cheque, request cheque book to its account holders can be availed through the WhatsApp banking service, it said.
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"In our view, this could potentially increase credit card penetration and expand the scope of digital payments in India, positively impacting both card companies (such as SBI Cards) and fintech platforms (such as Paytm)," reported ANI citing Goldman Sachs report.
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Crisil said that nearly 80% of its ratings in the first half of the fiscal did not change but the rate of upgrades improved to 16.70% from around 14% in the second half of last fiscal and up from about 3% two years ago. The downgrade rate on the other hand was flat at 3.02%.
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Prosus, the global investment arm of South African multinational Nasper, had on August 31 last year announced acquisition of BillDesk in an all-cash deal to expand its footprint in India's booming fintech sector under the umbrella of its payment gateway PayU.
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The worst-case scenario for me would be a further escalation of geopolitical conflicts. The second significant risk is entrenched inflation in the developed markets. These markets are not used to operating with high inflation and, therefore, it is so important what the Fed and the ECB are doing. We need to get that poison out of the economy.
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