The Pune division of the Income Tax department has topped the country to cross 75 per cent of the annual collection target.
Mauritius was the largest source of foreign investment in India, followed by the US and the UK, according to a census by the Reserve Bank.
ICICI Prudential Life Insurance today report flat growth in profit after tax (PAT) during the quarter ending December 31, at Rs 452.10 crore compared to the same period last year.
Indian private sector lender Kotak Mahindra Bank Ltd posted a nearly 20 percent increase in third-quarter profit on Friday, helped by higher interest and fee income and as bad loans dropped.
India’s most valuable lender and the biggest private sector bank HDFC Bank reported a rise of 12.01% in the third-quarter net profit to Rs 4,642.6 crore while the bad loans for the quarter ended 31 December 2017 were almost stable.
Niti Aayog CEO Amitabh Kant today said physical banks in India will be irrelevant in the next 3 years as data consumption growth and data analytics are likely to further boost financial inclusion.
The Exim Bank has hit the international debt market with a dollar-money issue of at least USD 500 million as part of its USD 10-billion medium-term note programme, according to merchant bankers.
India’s fifth-largest private sector lender Yes Bank on Thursday reported a rise of 22% in the third-quarter net profit to Rs 1,076.9 crore on a yearly basis and a sequential rise of 7.4%.
A part of the $18-billion OP Jindal Group, JSPL has iron & steel plants in Chhattisgarh, Odisha and Jharkhand in India, and also in Oman. In the September quarter of 2017-18, RBI had asked banks to classify JSPL along with a few other companies as NPAs, as part of its annual review.
The Narendra Modi government is mulling to allow 100% Foreign Direct Investment in the banking sector. The Finance Ministry, DIPP and IBA are presently discussing and accessing the hike in FDI cap in the banking sector from 74% to 100%.
All the 14 designs of Rs 10 coin are valid and legal tender for transactions, the Reserve Bank said today amid reluctance by certain traders to accept the coins.
Deutsche Bank AG is in early talks to sell its retail operations in India, according to two people briefed on the matter, part of a previously announced plan to raise money through asset sales.
The yield on the more widely-traded benchmark surged to 7.58% intra-day before ending the session at 7.55%, the highest level since it was introduced in May last year.
In writing on banking and finance and about the expansion of private banks, Bandyopadhyay — who has earlier written on how Bandhan became a universal bank and on the Sahara scam — devotes a part of this book to the historic points of friction between the government and the RBI.
The central bank has, over the past couple of years, been trying to coax banks to lower lending rates. However, banks have been slow to do so citing the high cost of funds.
State-owned Bank of India (BoI) has deferred the Rs 3,000-crore capital raising plan through private placement of equity shares after the government’s move to infuse Rs 2,257 crore capital into it, a top official said.
The government will soon invite fresh applications for the post of RBI Deputy Governor, a position that fell vacant after S S Mundra retired on completion of his three-year term on July 31, 2017.
The announcement is pursuant to IDFC Bank’s stated strategy of ‘retailising’ its business and transforming into a well-diversified universal bank and in line with Capital First’s stated intention and strategy to convert to a universal bank, the two companies said.
The government has gone back on its decision to halt production of coins entirely and has asked all the four mints in the country to restart production, albeit at a slower pace, industry sources said today.
IDFC Bank and non-banking financial company Capital First today said they have received approval from their respective boards for a merger. Under the deal, IDFC Bank will issue 139 shares for every 10 shares of Capital First.
HDFC Ltd today said its board has approved raising up to Rs 13,000 crore primarily to maintain its holding in its banking arm and enter segments like stressed assets and health insurance.
Days after a cyber security firm warned of a malware breaching into mobile applications, ICICI Bank today said there is no “significant” threat from it to its customers
The Reserve Bank has proposed delegating to clients the decisions regarding the quality and tenor on hedging of commodity prices and freight risk.
India, with its 462 million internet users and close to 300 million smartphone users, is representing a digital economy which has arguably the greatest market potential for digital transformation.
IndusInd Bank on Thursday reported a rise of 25% in Q3 net profit to Rs 936 crore in the October-December quarter on a yearly basis for the financial year 2017-2018 while the net NPAs (non-performing assets) saw an increase of 10% in three months
Bank of Baroda, India’s third-largest state-run lender, is seeking to sell unit Nainital Bank Ltd. as it sheds non-core assets to bolster its balance sheet, people familiar with the matter said.
Country’s largest lender State Bank of India (SBI) expects financial bidding process for resolution of 12 big stressed accounts to be over by the end of this month, said the bank’s top official.