Page 354 - Finance News

Crippled by huge losses, RSRTC seeks six-month time to repay bond

The last instalment, which the firm has requested an extension for, is worth Rs 124.72 crore

Budget 2023-24: Sitharaman's meetings with stakeholders to begin on Nov 21

Seven meetings will take place between November 21 and 24, while the pre-budget interaction with state Finance Ministers is expected to take place in December in Madurai

Bank of Baroda increases MCLR rate by up to 15 bps across tenors

Among others, the overnight rate has been raised to 7.25 per cent from 7.10 per cent earlier

Indian govt to sell 1.55% stake in Axis Bank via offer for sale: SUUTI

Floor price for the offer is 830.63 rupees per share, it added. The offer will be concluded over Thursday and Friday, with non-retail investors bidding on first day and retail investors on second day

National Payments Corporation introduces BHIM App open source license model

NPCI introduced the BHIM app open-source license model, under which the source code of BHIM App will be licensed to regulated entities who do not have an UPI app of their own

Dhanlaxmi appoints 3 new directors in board, paves the way for rights issue

The bank management and shareholders have reached compromise formulae on the issue of appointing the latter's representatives as directors on the bank's board

Govt to exit Axis Bank with 1.55% stake sale, expects to garner Rs 4,000 cr

In May last year, the government sold of 1.95 per cent stake in Axis Bank held through SUUTI for a consideration of about Rs 4,000 crore

Dhanlaxmi Bank Q2 profit jumps to Rs 16 cr on lower bad loan provisions

Total income increased to Rs 285.26 crore in September quarter from Rs 266.79 crore earlier, Dhanlaxmi Bank said in a regulatory filing

Indian Overseas Bank to revise rates on retail term deposits from Thursday

With the revision in interest rates, domestic and non-resident depositors would get a hike of up to 7.15 per cent for deposits with period of 444 days, three years and above

Bank of Maharashtra raises one-year MCLR by 10 bps for select tenor loans

Rates for other tenor loans like overnight, three and six months have been kept unchanged

Indian Overseas Bank, Bank of Maharashtra hike MCLR by up to 25 bps

One-year median MCLR of scheduled commercial banks has increased from 7.75 per cent in September

What's behind the optimism in India's banking sector?

Commercial banks have clocked a combined profit of almost Rs 60,000 cr in Q2FY23. It was a 59 per cent jump from the year-ago period. What are the reasons for this? Are there headwinds ahead?

Want to close or cancel your credit card? Here's a step-by-step guide

When you are considering canceling a card, it should be taken into account how the cancellation of your credit card will affect your credit score

Banks scantly pricing risks as they scurry to garner deposits: SBI report

Amidst liquidity tightening, a decadal high credit growth, deposit growth falling way behind, a report has warned that banks are not adequately pricing their risks from both asset, liabilities sides

Is it time to regulate financial influencers?

The number of 'finfluencers' and their followers are rapidly rising in India. But the country's financial regulators have not carved out any specific norms that finfluencers should stick to

PSBs' Q2 net profits zoom 50% YoY on steady rise in interest income

Strong loan growth, rising lending rates give the boost

UAE-based Emirates NBD invests $100 mn more in India, opens 2 more branches

The bank does not have a captive development centre in India, but has contracted an IT services vendor here to help drive its global operations

Bandhan Bank offers 7.5% interest rate on retail FDs for limited period

Rate applicable to both fresh deposits and renewals of up to Rs 2 crore for a tenure of 600 days, seniors to get 0.5% more

Credit risk not being fairly priced in by banks, says SBI report

Credit demand at decadal highs and liquidity remains significantly downsized, says research

Customer protection the core of new RBI microfinance rules: Dy governor Rao

These measures, along with a cap on repayment obligations and steps to check over-indebtedness introduced by the regulator, will eventually bring down interest rates for the borrowers, he says