Kotak Mahindra Bank net profit surge 18% to Rs 4133 crore

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Colombia central bank nudges 2024 inflation outlook up to 5.5%

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Carlyle sells 2% in Yes Bank for Rs 1,441 crore

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Latest Punjab National Bank FD interest rates: Fixed deposit rates revised - check full list

PNB updated FD rates under Rs 2 crore, effective April 12, 2024, for regular citizens with slight decreases. Special rates for senior citizens, excluding NRO deposits, commemorate PNB's foundation day.

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Deutsche Bank and union reach pay deal for Postbank employees

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RBI new loan rules: Is your bank overcharging you on interest? 4 ways in which customers may be paying extra

RBI uncovers unfair loan interest practices, orders refunds, and KFS implementation by October 1, 2024 for transparent loan terms and fair borrower treatment.

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Avaada Energy secures Rs 1,190 crore loan from SBI for solar project

Avaada Energy has secured a Rs 1,190 crore loan from the State Bank of India for a 400 MWp utility-scale solar PV project in Gujarat's Surendra Nagar district. The 20-year project loan facility will support the project's development and procurement by Gujarat Urja Vikas Nigam Limited. This marks Avaada's first venture in developing a greenfield project under an existing Special Purpose Vehicle.

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Daily average UPI payments at new high in April

The volume and value of UPI transactions decreased slightly in April compared to their all-time high level in March. However, the average daily transactions reached a new high, which indicates that the transition of UPI services from Paytm Payments Bank to its parent did not lead to any significant disruption.

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5 Money changes in May 2024: New savings account fees, credit card rules for major banks, FD deadlines and more

Banks like HDFC, ICICI, and Yes Bank implement changes in May 2024. HDFC extends Senior Citizen Care FD deadline. ICICI updates savings account charges, and Yes Bank revises fee schedules and ATM card charges.

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Kotak veteran Manian quits, may join Federal Bank

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Save lakhs in interest cost? What RBI’s new rules for interest overcharging on loans mean for borrowers

The Reserve Bank of India has come across instances of lenders resorting to certain unfair practices in charging of interest. What do RBI’s latest guidelines and instructions to banks and NBFCs mean for loan borrowers? We explain the math and answer your common questions:

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Standard Chartered Bank consumer banking head to join Jio Financial Services

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'Can’t levy interest on loan amounts not received': RBI to Banks

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ICICI Bank share price today: Market capitalisation crosses Rs 8 lakh crore mark; here’s why

ICICI Bank, the second-largest private lender in India, saw its market capitalisation surpass 8 lakh crore on Monday as its shares surged to a new 52-week high of Rs 1,155.65 on the NSE.

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China firms go 'underground' on Russia payments as banks pull back

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Yen sinks to 34-year low past 160 per dollar

The yen sank to a new 34-year low past 160 per dollar on Monday after a forecast-beating US inflation reading dented expectations for US interest rate cuts this year. "Markets appear to be trying to push dollar-yen towards 160 in the absence of official intervention," said Vishnu Varathan, at Mizuho Bank.

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Private banks grapple with rising IT expenses amid surge in transactions

Private banks are experiencing a significant increase in information technology expenses as most transactions are now conducted digitally. Unlike the one-time capital expenses incurred when they migrated to core banking, IT is now becoming a recurring cost accounting for up to 10% of operating expenses. Bankers have responded to queries about their level of IT capabilities in light of the RBI action on Kotak Mahindra Bank freezing digital onboarding and issuing credit cards.

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AdaniConneX raises $1.44bn from 8 global banks, sets benchmark with construction financing framework

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ICICI Bank Q4 net profit jumps 17.4% to 10,708 crore, asset quality improves

ICICI Bank, the second-largest private lender, has reported a net profit of Rs 10,708 crore for the quarter ended March 2024, marking an increase of 17.4%, surpassing analyst forecasts. The bank’s board has recommended a dividend of Rs 10 per share. At the end of the quarter, the bank’s deposits stood at Rs 14,12,825 crore, up by 19.6% from March 2023.

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