Page 348 - Finance News
RBI imposes Rs 1.25 crore penalty on Zoroastrian Co-operative Bank
The Reserve Bank of India has imposed a penalty of Rs 1.25 crore on Zoroastrian Co-operative Bank, Mumbai for non-compliance with certain directions, including one related to discounting of bills
 "RBI imposes Rs 1.25 crore penalty on Zoroastrian Co-operative Bank")
PNB plans to raise up to Rs 4,000 crore through issuance of tier-2 bonds
The latest round of fundraising by banks comes at a time when credit growth has shown sustained momentum even as growth in deposits continues to lag
 "PNB plans to raise up to Rs 4,000 crore through issuance of tier-2 bonds")
Savings deposit growth in Q2 slumps to 9.4% YoY while FDs gain traction
Growth of money kept in current accounts moderated to 8.8% this September, from 17.5% a year ago
 "Savings deposit growth in Q2 slumps to 9.4% YoY while FDs gain traction")
Max Life partners with Tamilnad Mercantile Bank to offer life insurance
Through this tie-up, the two firms aim to financially secure the lives of TMB's customers across 500 bank branches by offering a comprehensive suite of savings, protection and retirement plans
 "Max Life partners with Tamilnad Mercantile Bank to offer life insurance")
Festivals boost credit card spends to record high of Rs 1.29 trillion
On a year-on-year (YoY) basis, spends were up over 25 per cent, despite a high base
 "Festivals boost credit card spends to record high of Rs 1.29 trillion")
Strong bank loan growth in FY23 despite higher interest rates: Fitch
Fitch Ratings said India's bank credit will see strong growth in current financial year despite effects of higher interest rates
 "Strong bank loan growth in FY23 despite higher interest rates: Fitch")
What does ARPU mean?
Your telecom operator and your favourite media platforms mention their average revenue per user, or ARPU, to analysing performance and flaunt their business health. Let's understand what ARPU is
 "What does ARPU mean?")
IDBI Bank to stay pvt sector bank post-sale; govt's 15% as public holding
IDBI Bank will continue to operate as an 'Indian private sector bank' after its strategic sale and the government's residual 15 per cent stake in lender post privatisation will be public shareholding
 "IDBI Bank to stay pvt sector bank post-sale; govt's 15% as public holding")
Cumulative recovery rate under insolvency resolution falls to 30.18% in Q3
The cumulative recovery rate under the insolvency resolution processes of debt-ridden companies declined to 30.18 per cent at the end of the September quarter
 "Cumulative recovery rate under insolvency resolution falls to 30.18% in Q3")
SBI reports highest profit, broking houses lauding us, says Dinesh Khara
Chairman of the country's biggest lender SBI Dinesh Khara asserted that analysts and broking houses are praising the financial performance of the bank which reported its highest profits recently
 "SBI reports highest profit, broking houses lauding us, says Dinesh Khara")
India seeks to shrink budget deficit by 50bps as global headwinds loom
What complicates matters for Sitharaman is that her food and energy bills are inflated by the war in Ukraine and given India runs a current-account deficit as well, the rupee has been weakening
 "India seeks to shrink budget deficit by 50bps as global headwinds loom")
Hike interest rates by 25-35 basis points in Dec: Economists to RBI
The meeting was held ahead of the RBI's next monetary policy review, which is scheduled December 5-7
 "Hike interest rates by 25-35 basis points in Dec: Economists to RBI")
RBI's Housing Price index up 4.5% in Q2, Kochi tops chart with 11.5% rise
Four of the 10 cities in the index recorded sequential contraction, the others posted expansion
 "RBI's Housing Price index up 4.5% in Q2, Kochi tops chart with 11.5% rise")
RBI permits banks to open 12 special vostro accounts for trade in rupees
So far, not a single overseas trade transaction directly involving the rupee has taken place
 "RBI permits banks to open 12 special vostro accounts for trade in rupees")
Merger with home loan major HDFC to take 8-10 months more: HDFC Bank
HDFC Bank expects to amalgamate its home loan major parent HDFC into itself by September next year, a top official said on Friday
 "Merger with home loan major HDFC to take 8-10 months more: HDFC Bank")
HDFC Bank awaiting RBI reply on subsidiary stake forbearance: Parekh
According to HDFC's latest annual report, the mortgage lender has over 10 subsidiaries, including HDFC Life Insurance, HDFC Ergo General Insurance, and HDFC Asset Management
 "HDFC Bank awaiting RBI reply on subsidiary stake forbearance: Parekh")
Rationalisation in long-term capital gains tax structure on the anvil
The finance ministry is looking at rationalising long-term capital gains tax structure by bringing parity between similar asset classes and revising the base year for computing indexation benefit
 "Rationalisation in long-term capital gains tax structure on the anvil")
Delhi High Court grants bail to Rana Kapoor in money laundering case
The Delhi High Court on Friday granted regular bail to former Managing Director and CEO of YES Bank Rana Kapoor in a Rs 466.51 crore money laundering case.
 "Delhi High Court grants bail to Rana Kapoor in money laundering case")
HDFC Bank elevates Bharucha as Deputy MD, appoints Zaveri as ED
Decision comes ahead of merger; RBI had halted move ahead of Aditya Puri's retirement
 "HDFC Bank elevates Bharucha as Deputy MD, appoints Zaveri as ED")
ICICI Bank to acquire 10% stake in 9MMTPA refinery JV of IOCL and CPCL
ICICI Bank will subscribe 10% of total paid up capital of the target entity
 "ICICI Bank to acquire 10% stake in 9MMTPA refinery JV of IOCL and CPCL")