Page 58 - Aathira Varier

Federal Bank reported its highest-ever quarterly net profit in Q2 FY24

The bank's NII grew 16.72 per cent to Rs 2,056.42 crore, up from Rs 1,761.83 crore in the same quarter of the previous financial year

Jio Financial Services' net profit doubles sequentially in Sept quarter

A R Ganesh appointed group chief technology officer

BimaKavach receives IRDAI's approval for direct insurance broking

In 2022, the company secured $2 million in funding from WaterBridge Ventures, Blume Ventures, Arali Ventures, and Eximius Ventures

SIDBI & GAME onboards 18 cohorts to NBFC Growth Accelerator Program

The joint initiative by SIDBI and GAME is expected to bolster the lending capacity of MSME focused NBFCs

HDFC Life Q2 net profit up 15.5% to Rs 376.77 crore; VNB margins moderate

For the April-Sep period, net profit increased 15 per cent year-on-year to Rs 792 crore on the back of a healthy back book surplus

RBI slaps Rs 5.39 crore penalty on Paytm PB for violating series of norms

Paytm PB facing ban on customers addition since Mar '22

LIC says it has got GST notice of Rs 37,000 for paying taxes at lower rate

State-owned firm says taxes officer's action will not affect its finances

RBI suspends Bank of Baroda from adding new customers to mobile app

Lender will be allowed to add customers to 'bob World' after rectifying deficiencies, says regulator

Life insurers face value of new business margin pressure in second quarter

Premium of General ins cos likely to be robust in Q2FY24

Premiums of non-life insurance companies rise by 14.86% in H1FY24

Public sector general insurers reported a 30.64 per cent surge in premium, while private insurers recorded a 21.49 per cent increase during this time

LIC's market share drops to 58.5% till September from 68.2% in a year

SBI Life, HDFC Life gains; Life insurers H1 NBP down 13%

Irdai to deploy Bima Vahak in every Gram Panchayat before end of 2024

The objective of Bima Vahak continues to be a women-centric, dedicated distribution channel that will ensure accessibility and availability of insurance in every nook and corner of the country

Israel-Hamas war: Higher shipping costs, premiums may lower export margins

Escalation of violence may impact trade volumes, say experts

Rupee-denominated green bonds to pick pace from FY24: SBI's Dinesh Khara

He highlighted that India began green bond issuances in 2014, has garnered Rs 43 billion through green bonds and has been instrumental in augmenting the adoption of renewable energy

Monetary policy: RBI expects banks to fully transmit rate-hike impact

Market participants believe that the transmission did not occur because surplus liquidity in the banking system remained high due to several reasons, including the withdrawal of the Rs 2,000 banknote

Reserve Bank of India's lens on rising unsecured loans in banking system

According to RBI's latest Financial Stability Report, advances for unsecured retail loans rose to 25.2 per cent in March 2023 from 22.9 per cent in March 2021

Bajaj Finance to raise Rs 10,000 crore via QIP, preferential issue

Out of the total, Rs 8,800 crore will be raised via QIP and the remaining Rs 1,200 crore will be via preferential allotment of shares to Bajaj Finserv

Poonawalla Fincorp posts record Q2 disbursements at Rs 7,750 crore

Meanwhile, it posted a 10 per cent sequential growth from Rs 7,063 crore in the first quarter of FY24

ICICI Bank launches 'Festive Bonanza' with offers up to Rs 26,000

Further, the bank will also be introducing special festive offers on its home loans, auto loans, and two-wheeler loans

Small finance banks see double-digit growth in advances & deposits in Q2

Equitas Small Finance Bank witnessed a healthy 37 per cent increase in advances to Rs 31,231 crore, whereas deposits rose 42 per cent to Rs 30,839 crore