Banking & Finance
Muthoot Finance expects gold loan business to drive bottom line in Q2
“We should be seeing growth in the non-gold business only from the third quarter. Vehicle finance and home loan sector has not picked up so far and is still in difficulty,”George Alexander Muthoot, managing director, Muthoot finance, said.
We will be back issuing cards by mid-September, huge potential to tap: Shalini Warrier, executive director, Federal Bank
According to research, customers reach out to credit cards when the ticket size is large. Youngsters use debit cards when the ticket size is small. That is a reason why we went for credit cards. This
Yes Bank scouts for partner to set up asset reconstruction firm
Bidders must have global experience in the distressed assets space, and a track record of turning around or resolving non-performing assets (NPAs), apart from satisfying the central bank’s ‘fit an
RBL Bank gets RBI accreditation to conduct government transactions
The accreditation comes on the heels of the RBI’s guideline authorising scheduled private sector banks as agency banks to carry out specific government-related business transactions.
Fintechs attract record $2 billion in H1: Report
Razorpay's raised USD 160 million in the series E round, making it the eighth largest, and lending app Kreditbee's mopped up USD 153 million in series C round, the tenth-largest in Asia.
‘Won’t need significant loan recast as market has improved’
For Shriram Housing Finance (SHFL), which has completed a decade of operations, the second quarter this fiscal promises to be one of the highest quarters ever in terms of disbursements, says its MD &
High stress: PSBs set aside over 60% of operating profit as provisions
Bankers say the first quarter saw stress mounting in the retail and small business segments as a result of the second Covid wave.
Shriram City, STFC raise record retail FDs worth Rs 2,000 crore in July
Shriram City raised retail FDs worth Ra 390 crore, while STFC raised Rs 1,610 crore in July — the highest-ever funds raised from retail FDs for both entities
323 frauds in UCBs, 482 in state co-op banks in FY21: FM
Finance minister Nirmala Sitharaman said urban cooperative banks reported 323 frauds in FY21 as against 568 in the previous year and 1,193 in FY19. Similarly, state cooperative banks witnessed 482 fra
Nearly 72 per cent of financial transactions of public sector banks done through digital channels: Govt
The Reserve Bank of India (RBI) has informed that it is not considering a separate licensing category for digital banks at present, Minister of State for Finance Bhagwat K Karad said in a written repl
RBI to penalise banks for non-availability of cash in ATMs from October 1
The RBI will start imposing penalty on banks in case the ATMs remain out-of-cash for a total period of 10 hours in a month from October 1, 2021, onwards.
Bharat ATM to add 20 lakh outlets by 2022-end to offer banking services to rural area
The app offers banking services, including account opening, deposits, remittances and cash withdrawals to rural masses in tie-up with local kirana stores, thereby eliminating the need to invest time a
INTERVIEW| Demand for loans has come back, says Nitin Chugh, MD & CEO, Ujjivan SFB
In an interview with Mithun Dasgupta, Chugh informs collection efficiency for every single state improved in July compared to June. However, Assam and Kerala are lagging behind. Excerpts:
‘We believe liquidity scenario should change in next few months’
Given the fact that there’s abundance of liquidity and pricing is under pressure on the corporate side, we have focused on growth on the retail side.
CUB June quarter net profit grows 12%
The bank's bad assets increased in the quarter, with gross NPA at 5.59%, rising from 3.90%. Net NPA too rose to 3.49% from 2.11%.
HDFC Bank to hire 500 more to expand MSME coverage
The bank's MSME vertical covers 545 districts now with dedicated relationship managers and supervisors, which will be expanded to 575 districts or more by the end of this fiscal.
SIDBI, FCDO UK launch challenge fund for specific purposes
SIDBI is India's principal financial institution engaged in the promotion, financing and development of micro, small and medium enterprises
PNB Housing Fin targets to bring corporate loan book below Rs 10,000 cr by end of March 2022: Hardayal Prasad
PNB Housing Finance's loan assets declined to Rs 60,438 crore at the end of June this year compared to Rs 68,009 crore in the year-ago period.
Conversion of Vodafone debt into equity an option: Banks to DoT
DoT had called senior bank officials on Friday to discuss the stress in the telecom sector arising out of the Supreme Court order last month on the adjusted gross revenue (AGR)-related dues payable by
IDBI Bank strategic sale: 7 firms in race for transaction advisor
Of the Rs 1.75 lakh crore, Rs 1 lakh crore is to come from selling government stake in public sector banks and financial institutions while Rs 75,000 crore would come as CPSE disinvestment receipts.
DCB Bank Q1 profit dips 57 pc to Rs 34 cr
The bank had posted a net profit of Rs 79.38 crore in the year- ago period. The profit was also down from Rs 77.91 crore in previous March quarter.
Bank of Baroda clocks Q1 profit of Rs 1,209 crore as NII improves
Total income moderated marginally to Rs 20,022.42 crore from Rs 20,312.44 crore in the same quarter a year ago, BoB said in a regulatory filing.
S&P revises Indian Bank’s rating outlook to stable from negative
The rating agency forecast that the pre-diversification risk-adjusted capital (RAC) ratio for Indian Bank to trend above 5% despite its assumption of 10%-12% annual credit growth and elevated credit c
Reserve Bank of India gives corporate borrowers 6 more months to meet debt recast guidelines
Vivek Iyer, partner and national leader-financial services risk advisory, Grant Thornton Bharat, said, “We need to be patient and study how the coming few months pan out. Since economic data comes o
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