Page 336 - Finance News

Indian Bank unveils QR bill-based payment system for CESC-Mysuru

Public sector Indian Bank on Sunday said it has unveiled QR code bill payment system for CESC making it as the first power distribution company to offer such an initiative

J&K Bank raises Rs 1,000 cr capital as Tier-II Bonds to strengthen capital

The issue was oversubscribed by more than 100 per cent, J K Bank MD & CEO Baldev Prakash said

Canara Bank looks to grow business to Rs 30 trillion in five years

As of March 2020, that is before amalgamation - Canara Bank business was over Rs 10 trillion

Ajay Kumar Srivastava becomes new MD and CEO of Indian Overseas Bank

After successful completion of about 27 years in Allahabad Bank he was elevated as Executive Director of IOB in October 2017

Indian bank credit growth to be stronger in Q4FY23, says Emkay Global

The Indian banking sector performance was led by stronger than-expected credit growth after years of a lackluster performance, sharp margin uptick benefiting from the rate cycle

Sundaram Finance to revise interest rate on term deposits from Jan 1

The rate on 12-month deposit would be increased to 7.20%, 7.50% for a tenure of 24 months and for 36 months it would be 7.50%

Top Headlines: SBI, LIC set to see new faces, worst yr for rupee since 2013

Business Standard brings you the top headlines at this hour

RBI to extensively use AI, MI driven tools for info creation, data analysis

Against the backdrop of a challenging global and domestic environment, Utkarsh 2.0 commences from 2023, when India assumes the G-20 Presidency: RBI

SBI, LIC among key govt-run financial institutions set to see new faces

Partha Pratim Sengupta, MD and CEO of Indian Overseas Bank, retires on December 31, 2022

Finance Ministry sharply raises small savings rates for March quarter

Small savings rates for 1-year time deposit (6.6 per cent), 2-year time deposit (6.8 per cent) and 3-year time deposit (6.9 per cent) were raised by 110 bps

Govt hikes interest rate on post office savings schemes by up to 1.1bps

The government on Friday raised interest rates on most post office savings schemes that do not get income tax benefits in line with the firming of interest rates in the economy.

Religare Finvest signs settlement agreement with all its lenders for OTS

RFL has been under a Corrective Action Plan (CAP) since January 2018 due to its weak financial health

Govt hikes interest rate on NSC, senior citizen savings scheme from Jan 1

Interest rates on Post office term deposit schemes of duration 1 to 5 years will rise by up to 1.1 percentage points

Plan to open more branches across country, says TMB CEO S Krishnan

The over-a-century old bank recently inaugurated its 510 and 511th branches in Chennai and in Salem respectively

Shriram Finance gets $100 mn funding from ADB for inclusive financing

Money will be used improve the status of underserved communities in India, other objectives

What is Chanda Kochhar loan fraud case?

The banking sector will remember this year for the arrest of Chanda Kochhar -- who was one of the founding members of ICICI Bank. Here's a detailed account of the ICICI Bank loan fraud case

RBI working on alternate arrangements for banks hit by EU oversight rule

The RBI is continuously engaged with ESMA and other regulators to arrive at a mutually acceptable arrangement, which recognizes the territorial independence of the host regulator, said central bank

'Important to arrive at a common international approach to crypto': RBI

Financial Stability Report: The FTX turmoil, RBI said, revealed that crypto is highly volatile, exhibits high correlations with equities and does not act as a hedge against inflation

Top headlines: PM Modi's mother passes away, bank's NPA ratio at 10-yr low

Business Standard brings you the top headlines at this hour

Nine NBFCs may fall below minimum capital requirement in baseline scenario

The baseline scenario is projected for one year ahead, based on assumptions of business continuing under usual conditions