Bank

Banks bid ₹79,655 crore in the RBI's 29-day VRRR auction against ₹2 trn offered, while the 10-year benchmark yield rose to 7.29% amid expectations of OMO sales

Tata Consultancy Services (TCS) has partnered with the Council of Europe Development Bank (CEB) to modernise and automate the bank's reconciliation processes. TCS will implement its TCS BaNCS for reconciliations platform, leveraging artificial intelligence and automation to streamline complex transactions, improve transparency, and reduce manual effort, according to a regulatory filing. The new solution will automate the entire reconciliation lifecycle, providing real-time visibility and faster processing for the CEB. "With the deployment of TCS BaNCS, the CEB will be able to gain significant efficiency in operations, which gives the bank the ability to operate on a higher scale," Venkateshwaran Srinivasan, Global Head - Financial Solutions at TCS, said. *** HCLTech partners with European energy firm E.ON * HCLTech has entered a multi-year strategic partnership with European energy firm E.ON. Under the agreement, HCLTech will establish a private cloud and manage cloud and netwo

Banks will remain closed from April 12-14 across many states due to holidays. April 11 is the last working day. Check the full state-wise closure list here

The new strategy comes nearly a year after ADB approved reforms to unlock $100 billion in new financing capacity over a decade, meeting a mandate from U.S. Treasury Secretary Janet Yellen

According to the RBI list, banks will remain closed for 12 days in July, including second and fourth Saturdays and Sundays. Check the full list of bank holidays in July here

Jammu and Kashmir Bank on Monday reported a 96 per cent jump in net profit at Rs 326 crore in the June quarter, aided by decline in bad loans. The Srinagar-based lender had posted a net profit of Rs 166 crore in the year-ago period. The Union Territory of Jammu and Kashmir holds 63.41 per cent stake in the bank. Total income in the first quarter of the current fiscal rose to Rs 2,885 crore from Rs 2,306 crore in the same period a year ago, J&K Bank said in a regulatory filing. Interest earned by the bank improved to Rs 2,657 crore as against Rs 2,103 crore in June 2022. The bank's asset quality showed an improvement as gross non-performing assets (NPAs) declined to 5.77 per cent of gross advances at the end of the June quarter, from 9.09 per cent a year ago. Similarly, net NPAs, or bad loans, declined to 1.39 per cent, as against 3.02 per cent in the year-ago period. As a result, provision for bad loans came down to Rs 56 crore, as against Rs 135 crore allocated in the same ...

TMS Ep394: Car sales in India, BCI's new rule, OMC stocks, G-SIBs

Are car sales moving to the slow lane? How will BCI's new rule change Indian legal landscape? Is it the right time to buy OMC stocks? What are Global Systemically Important Banks? Answers here

In a Q&A, the lender's MD & CEO says the bank's NPA ratio could improve further as it doesn't have any large loan that needs to be regarded as bad

Pental, who has been with YES Bank since November 2015, will continue to head retail banking; he is also non-executive director at YES Securities

Indian state-run and private banks raised an aggregate of 611.94 billion rupees ($7.39 billion) in October-December, more than double the 301.34 billion rupees raised in July-September

Fall in non-interest income, rise in bad loan provisions drag down company's net

While the impetus to double-digit credit growth was from wholesale lending, retail credit growth continued to be robust

Affirms Baa3 deposit ratings of both Indian private sector lenders; outlook on ratings for both banks, where applicable, remains stable

Banks could shine in Q4 earnings season

While brokerages expect Q4 earnings of Nifty50 companies to hit record peak levels, the march is expected to be driven by banks and financials. Let's dive into the Street expecting from Q4 results

TCS will work to simplify and transform bank's application estate across businesses-financial markets, wholesale and retail banking

We want to make sure within 90 days depositors get the money so that small depositors who make up 98% of all depositors will get their money in time, she said

Banks' ability and/or willingness to lend to persons or entities that needed credit were hampered

Banks need to value their trading portfolio in sync with the market rate

Bank deposits rose 2.63 trillion rupees to 108.05 trillion rupees in the two weeks to March 31

The infrastructure sector continues to reel under the 'twin balance sheet' issue