Page 61 of banking sector

Yet, the existing incumbents own the space, with no greater comfort to the consumers.

Undermining digital finance because of supervisory inadequacy does us no favour

August 13, 2022 04:00 IST

“These instructions will be applicable to all commercial banks (including regional rural banks), co-operative banks, non-banking financial companies (NBFCs), asset reconstruction companies (ARCs) and all India financial institutions,” it added.

Banks to ensure recovery agents refrain from harassing borrowers: RBI

“It has been observed that the agents employed by REs have been deviating from the extant instructions governing the outsourcing…

August 13, 2022 01:00 IST

Industry says new digital lending norms to help them scale up, become more responsible

The direction of these regulations implies that lenders are likely to be a lot more careful in their partnerships with…

August 11, 2022 18:03 IST

Cumulatively, all the 12 public sector banks reported a profit of about Rs 15,306 crore in the three months ended June, registering an annual growth of 9.2 per cent. However, leading public sector lenders -- SBI and PNB -- posted lower profits in the June quarter.

Lower bad loans push PSU banks’ profitability in June quarter

Out of the total amount, Rs 34,997 crore was sourced through budgetary allocations and Rs 2,76,000 crore through issuance of…

August 11, 2022 17:13 IST

CVC-constituted panel ABBFF gives advice on 139 bank fraud cases

Headed by former Vigilance Commissioner (VC) T M Bhasin, ABBFF was set up in August 2019, by the Central Vigilance…

August 11, 2022 14:52 IST

The RBI cancelled the licence as the lender does not have adequate capital and earning prospects, it failed to comply with banking regulations, the continuance of the bank is prejudicial to the interests of its depositors as it is not in a position to pay them and public interest will be adversely affected if the bank is allowed to carry on its business any further.

RBI cancels licence of Rupee Co-operative Bank

The bank will have to cease to carry on banking business with effect from September 22. The RBI has also…

August 11, 2022 03:45 IST

Banks seek foolproof shield against probes

“The IBA is in talks with the department of financial services for changes in the Lokpal Act,” said one of…

August 10, 2022 05:20 IST

Punjab & Sind Bank to maintain profitability in FY23: MD

Punjab & Sind Bank has zeroed in on five accounts worth Rs 528 crore for transfer to the National Asset…

August 10, 2022 04:00 IST

Poonawalla Fincorp aims AUM of Rs 42,000 crore by March 2025

Poonawalla Fincorp promoted NBFC with a majority stake owned by Rising Sun Holdings — a company owned and controlled by…

August 10, 2022 02:40 IST

Rejig between bonds & loans bumps up credit growth

Reserve Bank of India (RBI) governor Shaktikanta Das said on Friday that the growth in bank credit has accelerated to…

August 10, 2022 02:30 IST

AU Small Finance Bank raises Rs 2,000cr via QIP issue

The lender said as many as seven participants in the QIP were offered more than 5 per cent each of…

August 9, 2022 21:50 IST

Profit of public sector banks rises 9 pc to Rs 15,306 crore in April-June

The highest percentage growth was recorded by Pune-based Bank of Maharashtra which earned a profit of Rs 452 crore against…

August 9, 2022 20:15 IST

HDFC gets National Housing Bank nod for proposed merger with subsidiary bank

The NHB has also approved the merger of two wholly-owned subsidiaries — HDFC Investments and HDFC Holdings Limited — of…

August 9, 2022 16:54 IST

Sundaram Finance PAT up 18% to Rs 226 cr, logs highest Q1 disbursements of Rs 4,895 cr

Total income of the non-banking financial company stood at Rs 942 crore as against Rs 956 crore last year, registering…

August 9, 2022 07:49 IST

City Union Bank reports 30% rise in PAT

The bank earned a net interest income of Rs 525 crore, against Rs 447 crore, with a growth rate of…

August 9, 2022 01:10 IST

RBI penalises eight co-op banks

Garha Co-operative Bank Limited, Guna (Madhya Pradesh) and the Goa State Co-operative Bank, Panaji are the two other banks on…

August 8, 2022 22:24 IST

City Union Bank Q1 net rises 30 pc to Rs 225 cr

In value terms, the gross NPAs stood at Rs 1,904 crore, down from Rs 2,035 crore. Net NPAs or bad…

August 8, 2022 21:05 IST

NARCL recently made offer to banks for two assets, an important step towards commencing its operation. However, no sale of asset has been concluded yet.

Fast-track asset transfers to bad bank, IBA tells lenders

The IBA, which had spearheaded the NARCL initiative, has asked lead banks in consortiums to expedite deliberations on the issue…

August 8, 2022 05:45 IST

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GenZ protests erupt in Bulgaria: What’s behind the mass anti-government stir?

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