Page 329 - Finance News

Raise credit penetration in 112 aspirational dists, FinMin tells banks

The Finance Ministry asked banks to further increase credit penetration in aspirational districts and ensure availability of at least one banking outlet within 5 km of all inhabited villages

Moody's upgrades ratings for PNB, Canara Bank and Bank of Baroda to 'Baa3'

India's improving macros, banks improving credit profile trigger upgrade

Rs 8,000-crore YES Bank AT1 bond write-off set aside by Bombay HC

Order stayed for six weeks; bank may approach SC

Canara Bank to sell its stake in Russian joint venture to SBI for Rs 114 cr

CIBL, incorporated in 2003, is a joint venture in Russia between SBI (60 per cent) and Canara Bank (40 per cent)

Bombay High Court quashes write-off of YES Bank's additional AT1 bonds

The final order is yet to be uploaded on the court website and the bank can choose to appeal in Supreme Court

Indian banks' switch to IFRS norms unlikely to drive rating changes: Fitch

The RBI introduced a discussion paper last week that suggested banks make provisions for bad loans using the expected credit loss (ECL) method

Bandhan Bank Q3 profit slumps 66% to Rs 291 crore on higher provisions

Higher provisions for stressed loans also pushed its credit cost up to 6.4% in the quarter from 3.7% a year earlier

Union Bank Q3 net up 106.8 % at Rs 2,245 cr, considers QIP for equity

State-owned lender's loan book grows 20.09% YoY to Rs 8.04 trn, asset quality improves

Union Bank of India reports two-fold jump in Q3 profit at Rs 2,245 cr

Union Bank of India on Friday reported two-fold jump in standalone profit at Rs 2,245 crore for third quarter ended December 2022 helped by decline in bad loans

HDFC to raise at least Rs 3000 cr via bonds; may invite bids next week

India's Housing Development Finance Corp (HDFC) will return to bond market after a gap of two months, three merchant bankers said on Friday

Achieve financial inclusion targets, finance ministry tells PSBs

The progress in digitisation of the process for getting the KCC was also discussed to improve the transparency

AU Small Finance Bank net jumps 30% to Rs 393 cr on healthy core income

Of the total provision, Rs 127 crore are for the restructured book and Rs 98 crore are for contingency provisions and Rs 41 crore are floating provision

HDFC planning to raise funds by issuing commercial papers maturing in 1 mth

India's Housing Development Finance Corp plans to raise funds by issuing commercial papers maturing in one year, three merchant bankers said on Thursday

Japanese banks get home regulator's nod to settle all trades via CCIL

With this move, Japanese bank branches in India can now use CCIL and experience better operational flexibility and lower capital requirement

Asset quality of Indian banks will be stable in 2023, says Moody's

The asset quality of Indian banks and those in Southeast Asian countries will be stable in 2023, said Moody's Investors Service in its latest report on the banking sector in emerging markets

India govt switches bonds maturing in 2024 with RBI in cash-neutral deal

Indian government bought back bonds maturing in 2024 from the Reserve Bank of India on Tuesday, while also issuing bonds maturing in 2032 worth a similar quantum, the central bank said on Wednesday

SBI raises Rs 9,718 cr via second tranche of infrastructure bonds at 7.70%

This is the second fund-raising since early December when it had mopped up Rs 10,000 crore via infra bonds

BHIM dilemma: Transaction value high, but volumes way lower than rivals

From accounting for a quarter of all UPI transactions, app now has a share of just 0.76%

IndusInd Bank posts bigger-than-expected Q3 net jump of 68% to Rs 1,959 cr

Analysts were expecting a profit of Rs 1,859 crore, according to Refinitiv IBES data

Central Bank Q3 net rises 64.16% at Rs 458 cr on improved margins

State-owned lender reports first full quarter after exiting regulator's Prompt Corrective Action regime