Page 45 - Subrata Panda

LIC sees multifold increase in Q2 net profit at Rs 15,952 crore

This is due to transfer of funds from non-par to shareholders' account

NPCI likely to extend volume cap deadline for existing UPI apps

PhonePe, and Google Pay likely to be the beneficiaries

Bombay HC: Prima facie removal of Kochhar as ICICI Bank CEO valid

In the order the Judge said that the bank was justified in revoking acceptance of early retirement of Kochhar as they had accepted it without having complete knowledge of the facts

Piramal Enterprises posts net loss of Rs 1,536 cr on higher provisions

PEL has moved Rs 5,888 crore worth of wholesale assets from Stage 1 to Stage 2 as the management believed there could be potential stress from these assets

LIC drives new business premiums of life insurers up 15% YoY in October

The surge in LIC's NBP was primarily driven by a 30% increase in its group single premium

Broad improvement in margins may continue for a while: Bank of Baroda chief

In a Q&A, Sanjiv Chadha, the MD & CEO of the bank, dwells on how the lender fared in Q2 and the strategy it will adopt for its assets and liabilities franchises going forward

Six years after demonetisation: e-transactions gain, but cash is still king

The Covid-19 pandemic has boosted digital transactions, with UPI turning out to be the biggest gainer, however, the dependence on cash has not reduced

Bank of Baroda's Q2 net jumps 58.7% aided by rise in NII, dip in provisions

Provisions of the lender declined 41 per cent YoY to Rs 1,628 crore in Q2FY23.

HDFC retail loan demand at 8-year high, standalone net profit rises 18%

Shifted from quarterly reset for individual loans to monthly one

RuPay credit card UPI to succeed if small transactions under 10%: Asbe

RuPay credit card on UPI feature is yet to see a high number of transactions as large issuers of credit cards have not onboarded the feature

Not in a hurry to launch CBDC; have to proceed carefully: RBI Guv Das

Central bank to consider findings of pilot projects before decision, he says

UPI processes over 7 bn transactions in Oct, record high since inception

Transactions on UPI amounted to Rs 12 trillion in October, a record high for the platform

Credit to industry up 12.6% YoY in September; touches 100-month high

Apart from base effect, credit to industry got a big boost from MSMEs; among sectors, petroleum, gems & jewellery, engineering, iron & steel, and construction were key drivers

RBI has been prudent in its exchange rate management: Deepak Parekh

Currency's depreciation not a reflection of the economy, says HDFC Ltd chairman

Pilot for digital rupee for wholesale segment to commence on November 1

Use case to be settlement of secondary market transactions in g-secs; RBI says digital rupee is expected to make inter-bank market more efficient, as settlement will reduce transaction costs

Key role for banks in offering best intermediation services: RBI's Patra

Calls for world-class financial intermediation services with Indian economy poised to surpass Germany and Japan a few years and nation's population set to become world's largest and youngest

Credit card base of major issuers erodes in Q2 over RBI's norms

SBI Card was exception as gains card base, market share

RBI governor Shaktikanta Das cautions on backdoor entry in financial space

Although some number of complaints is expected from such a large financial system, the concerning fact is much of the complaints pertain to traditional banking

Infibeam Avenues gets RBI in-principle nod for payment aggregator licence

The RBI allowed another window to PAs existing as of March 2020 to apply to the central bank for a license

SBI Card Q2 net profit jumps 52% to Rs 526 crore on low provisions

Impairment losses and bad debts declined 8 per cent YoY to Rs 546 crore, but increased 21 per cent sequentially