Banking & Finance

HDFC Bank Q3 net profit rises 33% on-year to Rs 7,416.5 crore, beats street estimates; key figures

HDFC Bank on Saturday reported Q3FY20 net profit at Rs 7,416.5 crore, beating street estimates.
HDFC bank alert netbanking credit card services mobile banking will not work on this period News

South Indian Bank December quarter profit up 8%

Operating profit for the third quarter has grown by 15.4 % from Rs 332.01 crore in the year ago period to Rs 383.14 crore .

bank, south indian bank News

Banks loan growth at 7.5 per cent in fortnight to January 2: RBI data

In the previous fortnight ended December 20, credit had grown by 7.10 per cent to Rs 99.47 lakh crore and deposits had increased by 10.09 per cent to Rs 130.08 lakh crore.

Banks loan growth, Reserve Bank data, Icra, Personal loans, RBI News

IDBI to meet RBI this week; seeks to exit PCA framework

Since coming under the PAC, more than a third of its entire book became dud loans in Q2 of FY18, with the gross NPA ratio touching 32 per cent and the net NPAs at 17.30 per cent.

LIC, idbi bank, idbi RBI meet, PCA framework, NPAs News

LIC Housing Finance launches offers to push sale of completed units

MD & CEO Siddhartha Mohanty said the offer has been designed keeping both home-loan borrowers and the real estate sector in mind.

LIC Housing Finance, SBI, residential builder finance scheme, SBI, Sunteck Realty, home buyers, Housing for all by 2022 News

Offer contactless card payments only if opted for: RBI to banks

At the time of issue or reissue, all physical and virtual cards shall be enabled for use only at contact-based points of usage, that is, ATMs and point of sale (PoS) devices within India.

RBI, PoS devices, mobile applications, internet banking, international transactions, contactless transactions News

Karvy case: Securities Appellate Tribunal, SAT, grants interim relief to Axis Bank

In its order Sebi stated that it has been further submitted that as on date, the principal amount of about Rs 80.47 crore and interest, cost charges etc, thereon is outstanding and due to the represen

At the same time it had also rejected the Axis Bank’s plea to allow the lender to invoke the pledge on shares in KSBL issue. News

Capital adequacy ratio above regulatory requirements, says Yes Bank

The investment offer of $500 million from Citax Holdings and Citax Investment Group was still under consideration and could not be taken up in the meeting held on January 10.

After the announcement, Yes Bank’s shares ended 3.2% higher than the previous day’s close at Rs 39.80 on the BSE on Wednesday. News

BSE, Ebix to launch insurance distribution business in February

According to Irdai, PoSPs for life insurance are individuals who have the minimum qualification and have passed the examination conducted by either the life insurer or the insurance intermediary.

BSE-Ebix aims to offer choices to customers besides reaching to remote villages across India to access these products. News

Employees of govt-owned banks threaten two-day strike from January 31

The strike call has been given by the United Forum of Bank Unions (UFBU), an umbrella body of the nine bank unions including All India Bank Officers' Confederation (AIBOC), All India Bank Employees As

Bank strike, Bank bandh, Bank strike pan india, Bank strike date, bank closed date News

Making efforts to financially strengthen bank further: Yes Bank

The bank plans to convene an extraordinary general meeting on February 7 to get shareholders' nod for raising Rs 10,000 crore, and to increase authorised capital from existing Rs 800 crore to Rs 1,100

Yes Bank, Capital Adequacy Ratio, Erwin Singh Braich, Rana Kapoor, Citax Holdings, Citax Investment Group News

J&K Bank is improving statistics of its balance sheet: Chairman RK Chibber

Hoping for good results in the next quarter, he said the bank is a successful enterprise and is doing the business very professionally.

Banking & Finance News

Bank loan fraud: ED arrests 2 on money laundering charges in Hyderabad

G S C Raju, promoter of Leo Meridian Infrastructure Projects and Hotels Ltd (LMIPHL), and his close associate A V Prasad were arrested under the Prevention of Money Laundering Act (PMLA) and have no

Bank loan fraud, Bank loan scam, loan fraud case, hyderabad bank fraud, Hyderabad, money laundering case News

Suresh Kishinchand Khatanhar takes charge as deputy MD of IDBI Bank

Khatanhar has exposure in retail banking business, priority sector lending, corporate banking (mid corporate and large corporate), service oriented functions such as trade finance and cross selling of

IDBI Bank, IDBI Bank MD, IDBI Bank managing director, IDBI Bank new MD, IDBI Bank MD Suresh Kishinchand Khatanhar News

Bandhan Bank profit zooms 121% on Gruh merger impact, lower provisions

Microfinance loans accounted for 61% of Bandhan Bank’s loan book, home loans made up for 29%, while 10% of the book was constituted of small and medium enterprises (SME) and personal loans.

Bandhan’s microfinance exposure is Rs 6,500 crore, which constitutes 16% of its microfinance portfolio and 10% of its total loan book. News

IndusInd Bank Q3 net rises 33%; asset quality worsens

The other income (non-interest income) rose by 22% to Rs 1,790 crore against Rs 1,469 crore in the same period last year.

The revenue from retail business rose 31.6% year-on-year to Rs 5,026 crore from Rs 3,819 crore. News

Another PMC Bank: RBI steps in to curb withdrawal limit, assures depositors at the same time

The license of the crisis-hit Sri Gururaghavendra Sahakara Bank Niyamitha (SGRSBN) bank in Bengaluru has not been cancelled and it can continue to undertake banking business with restrictions till its

Savings accounts, Normal Savings Bank Account, No Frills Account, Salary Account, Privilege Bank Account, Children Account, Women Account, Senior Citizen Account, Sweep-in or Multiplier Account, account with higher interest, bank fixed deposit, bank FD News

Bad loans: RBI finds fault with banks’ reporting to CRILC

The study raises questions about the quality of banks’ reporting to the RBI-constituted Central Repository of Information on Large Credits (CRILC).

Banking & Finance News

Banks’ third-quarter results may look up, supported by recoveries and treasury gains

Emkay also said that yields on government securities (g-secs) continue to trend down, with support from Operation Twist, which should help public-sector banks (PSBs) report healthy treasury gains.

Overall decline in the loan-to-deposit ratio and slower growth in high yielding retail loans could weigh on margins. News

Microfinance industry needs this much money to maintain growth, and be cautious of this pitfall

The microfinance industry in India, which has helped bring financial inclusion to millions of rural families and women, will need an additional capital of up to over Rs 5,000 crore to meet the target

Banking & Finance News

Banks Board Bureau invites applications for MD post of India Post Payments Bank

IPPB has been incorporated as a public limited company under the Department of Posts with 100 per cent Government of India equity. The vacancy will be created on March 31, according to the advertiseme

Banks Board Bureau, India Post Payments Bank, BBB, India equity, India Post News

End Yes Bank farce before it becomes tragedy for all Indian banks; government must ask SBI to help

State Bank of India, India’s largest commercial lender by assets, may hate the idea of a forced merger. But let’s face it: No other banking balance sheet in India might be able to take over a le

Banking & Finance News

MDR waiver: Govt turns down banks’ compensation demand, know why

MDR charges were earlier charged by banks subject to a cap of 0.60% of card-based transactions for payments over Rs 2,000.

The waiver, effective January 1, is aimed at incentivising digital payments and is in sync with the policy objective of moving towards a less-cash economy. (Representative image) News

Digital divide among major hurdles in using financial services in India, says RBI

Certain regions in the country that have poor connectivity are left behind in ensuring access to financial services.

UPI, digital payments, demonetisation, rural india, digital transaction in rural india, digital payments, financial services, financial inclusion, digital divide, poor connectivity News
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