Page 225 - Finance News

L&T Finance Q3 results: Net profit jumps 41% to Rs 640 crore, NII up 8%

The Mumbai-based Non-Banking Financial Company (NBFC) had earned a net profit of Rs 454 crore in the year-ago period

RBI 'mute spectator', allowing banks to charge high interest rates: HC

The observation was made by a bench comprising Justices Mahesh Chandra Tripathi and Prashant Kumar while disposing of a petition filed by Manmeet Singh

CCI clears merger of Fincare Small Finance Bank with AU Small Finance Bank

In October last year, the board of directors of AU Small Finance Bank (AU SFB) and that of Fincare Small Finance Bank (Fincare SFB) approved an all-stock merger of AU SFB and Fincare SFB

Karnataka Bank Q3 net profit up 10% at Rs 331 cr, gross NPA falls to 3.64%

The bank had earned a net profit of Rs 301 crore in the October-December quarter of 2022

Fintech associations exploring ways to incentivise SRO membership

The central bank in its draft framework had said that the industry needs to answer the question of how an SRO-FT would create incentives for membership since entities in the fintech sector

Net FDI in India down to $ 13.54 billion in Apr-Nov 2023, shows RBI data

This decline was primarily due to a fall in global inflows and an increase in the repatriation of equity capital

Affordable housing co SMFG Grihashakti secures Rs 300 crore from NHB

This is the company's maiden long-term loan from the NHB and it opens up an additional avenue for long-term, low-cost funding, it said

Benchmark 10-yr bond yields steady at 7.1% as traders await fresh cues

India's benchmark 10-year yield ended at 7.1751%, following its previous close at 7.1790%. India's bond markets were shut on Monday and will be closed on Friday

Indel Money aims IPO in FY27, floats debentures worth Rs 200 crore

The issue includes a base size for an amount of up to Rs 100 crore with an option to retain over-subscription up to Rs 100 crore aggregating up to Rs 200 crore

Global cos at WEF view India as attractive investment spot: DPIIT secy

The government has taken a series of measures over the years such as easing FDI norms in certain sectors, reducing compliance burden and improving ease of doing business to attract foreign investments

Ahead of index inclusion, top Indian fund managers look to boost inflow

The cohort are betting on inclusion in global bond indexes to drive returns after the central bank doused speculation of an interest-rate cut

Rupee depreciates 6 paise to 83.13 against US dollar in early trade

Forex traders said the rupee is trading in a narrow range as the support from positive domestic equities was negated by foreign fund outflows

Book-keeping, accounting, taxation added as financial services in IFSC

With the inclusion, entities registered with the IFSC Authority will be able to provide these services to non-residents while operating from GIFT city

Govt expands scope of financial services that can be taken up at IFSC

As per notification issued by the Ministry of Finance, various services, including book-keeping, accounting, taxation, and financial crime compliance, have been included as part of financial services

Central Bank of India plans offer for sale to reduce govt's stake

It has shown preference for the OFS route to avoid dilution of its equity capital base while increasing the public float of shares

Union Bank's Q3 net profit up 60% at Rs 3,590 cr, NIM inches down to 3.08%

The Net Interest Income (NII) of the bank grew by 6.26 per cent to Rs 9,168 crore from Rs 8,628 crore. Other income increased by nearly 15.4 per cent to Rs 3,774.30 crore from Rs 3,270.82 crore

ICICI Bank Q3 net profit jumps 23.6% to Rs 10,272 cr, NII up 13.4%

Net Interest margins dip on rise in cost of deposits; makes Rs 627 crore provision to AIF exposure

IDFC First Bank Q3 net profit rises 18% to Rs 716 cr, total income jumps

The bank's interest income improved during the third quarter of the current fiscal to Rs 7,879 crore, as against Rs 5,912 crore in the same period last fiscal

Kotak Mahindra's Q3 consolidated net up 6.76% at Rs 4,265 cr; NII jumps 16%

On a standalone basis, the net profit for the reporting period was up 7.62 per cent to Rs 3,005 crore, attributed to a sharp rise in provisions

J&K Bank Q3 net profit jumps 35% to Rs 421 crore as bad loans decline

The bank had earned a net profit of Rs 311 crore in the October-December quarter of 2022