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Federal Bank's Q1 net profit drops 8.35% due to higher provisions

The lender's net interest income grew by 9.4% YoY to Rs 1,418 cr in Q1FY22 compared to Rs 1,296 cr in the year-ago period

SBI Cards Q1 net down 22.5% YoY on higher provisions, lower interest income

Impairment losses and bad debts rose by 33 per cent YoY to Rs 645 crore

Zomato IPO: 28% of applications through UPI route get rejected

Overall, about half a million rejected on technical grounds

Star Health and Allied Insurance files DRHP for IPO of fresh shares-cum-OFS

Net proceeds from fresh issue amounting to Rs 2,000 cr will be used to boost company's solvency levels and capital

Covid-19 impact: ICICI Lombard net profit falls 62% in April-June quarter

In the April-June quarter, the insurer posted an underwriting loss of Rs 508.16 crore against an underwriting profit of Rs 38.16 crore in the year-ago period.

Insurers' provision pool balloons as fatalities spike in second Covid wave

Claims in 2nd wave were 3-4 times the volume seen in first wave, says an insurer

ICICI Pru Life slips into red, logs Rs 186-crore loss in April-June quarter

Assets under management increased by 31.3 per cent to Rs 2.23 trillion at the end of the April-June quarter.

Bajaj Finance's Q1 standalone net down 3% on higher loan loss provisions

On a consolidated basis, its net profit was down 4% to Rs 1,002 cr

RBI bars Mastercard from onboarding new customers in India from July 22

The ban is only on adding new domestic customers to its network; no impact on its existing customers

Recovery of Rs 3,000 cr from 95 IL&FS entities to spill beyond Mar 2022

According to the Board, by March 2022, around Rs 58,000 crore, or 98 per cent of the estimated amount will be recovered

Credit card buys seen 8% lower in Apr-June quarter, say analysts

Among players in the credit card segment, HDFC Bank, despite a ban on issuing new credit cards, retained a sizeable, and, perhaps, the lar­gest market share in spends, at 27 per cent in May.

HDFC Bank's loss is ICICI Bank's gain on credit cards: Check details here

Between December and May, HDFC Bank's credit card kitty saw a drop of 528,447 cards while that of ICICI Bank increased 1.16 million, the highest by any lender during the period

Liquidity buffer of NBFCs has improved over last year, says Crisil

But the pace of improvement in collection efficiency, the third of the wave of the pandemic, and access to funds need to be closely monitored, rating agency says

Health policy: Out-of-pocket cost jumps as consumables' share in bill rises

Consumables are usually, but not restricted to, medical aid/equipment that have to be discarded after use

Life insurers' new business premiums grow 4% YoY in June after dip in May

In Q1FY22, the life insurance industry reported a 7 per cent increase (YoY) in NBP

Non-life insurers' premium income up 7% YoY to Rs 14,809 cr in June

Sequentially, the premium income of non-life insurers was up 20 per cent, after a slump of 28 per cent in May

Sumitomo Mitsui Financial Group to acquire 74.9% stake in FICC for $ 2 bn

SMFG has plans to eventually acquire 100 per cent stake in FICC, which is a wholly-owned subsidiary of Fullerton Financial Holdings (FFH)

Bajaj Finance books fewer new loans in June quarter over March

In Q1FY22, it booked 4.6 mn new loans while in the previous quarter it had booked 5.47 million. On a YoY basis, there is a 1.5x jump in new loans booked

Private banks' loan books shrink in Q1 amid second wave of Covid-19

IndusInd, YES, Federal, and CSB post 1-3.5% sequential decline; HDFC Bank bucks the trend with 1.3% growth

NUE may make India the cradle of cutting-edge global payment systems

The NUE will be a direct competitor to NPCI and develop the payments infrastructure for the country, similar to what NPCI has done