Page 360 - Finance News

Indian Banks' Association meeting on Friday to elect its new chairman

As per convention, sources said, the senior most managing director of a public sector bank is elected as chairman for a period of one year.

Dhanlaxmi Bank shareholders seek to curb CEO spending powers; EGM on Nov 12

Through another resolution, the shareholders are also seeking a settlement on the issue of a legal battle with some shareholders regarding board positions.

IT governance rules: RBI releases draft guidelines for regulated entities

The framework will specify the role and responsibilities of the board of directors and the senior management of the entity.

CCI clears two private equity players' stake purchase in Yes Bank

CA Basque Investments, part of the Carlyle Group, and Verventa Holdings, an affiliate of funds managed by Advent International are to acquire 10 per cent stake each in the private sector lender

HDFC corners 15% of CLSS housing market with Rs 67,000 crore loans

With over Rs 7,200 crore in subsidy disbursals, the largest pure-play mortgage lender HDFC has cornered over 15 per cent of the credit-linked subsidy scheme for affordable housing

Union Bank Q2 net up 21.07 per cent to Rs 1,848 crore on a YoY basis

Its net interest margin (NIM) improved to 3.15 per cent in Q2FY23 from 2.95 per cent in Q2FY2

Canara Bank Q2 profit jumps 89% to Rs 2,525 cr, asset quality improves

State-owned lender's gross global advances up 20% YoY to Rs 8.24 trn; retail lending portfolio grows 12.5%

AU Small Finance Bank's net profit rises 23% to Rs 343 crore in Q2

Disbursements during the quarter stood at Rs 8,605 crore as against Rs 5,061 crore

IndusInd Bank's Q2 net profit rises 57% to 1,805 cr, NII rises 18%

Should see 18-20% credit growth in FY23 says Sumant Kathpalia, MD & CEO, IndusInd Bank

Competition for funds drives SBI to hike savings deposit rate by 30 bps

Balances of Rs 10 cr and above to earn 3% rate of interest Oct 15 onwards; 2.7% rate unchanged on deposits below Rs 10 cr

Banks offer over 3-year high interest rate to raise funds through CDs

Call mkt rates at higher end of rate corridor as liquidity shrinks rapidly

Uday Kotak, Asia's richest banker, weighs $1-bn real estate fund: Report

Kotak Investment plans to complete the fundraising by the end of this year and to embark on its investment in 2023, focusing on residential property in India's top five cities

SBI hikes interest rate on savings deposits above Rs 10 crore by 30 bps

The deposits will attract an interest rate of 3%, effective Oct 15. Balances up to Rs 10 cr to earn 2.7% interest

Axis Bank hikes MCLR by 25 bps, joining other lenders in policy action

Central bank's MPC has cumulatively increased the repo rate by 190 bps since May

Digital Banking Units to boost financial inclusion: All you need to know

Karnataka, Tamil Nadu, Uttar Pradesh, Odisha and Rajasthan will get four DBUs each, followed by Gujarat, Kerala, Madhya Pradesh, Maharashtra, Punjab, Sikkim and Telangana, with three DBUs each

RBI should pause rate hikes as growth fears loom: MPC member Varma

India's central bank should pause interest rate hikes, despite unacceptably high inflation, to avoid stalling a recovery in economic growth, monetary policy committee member Jayant Varma said

India's policy hawk sees end of aggressive hikes amid growth fears

India's most hawkish rate-setter said the policy rate was reaching a level that allows past aggressive action to cool inflation without inflicting too much pain on the economy

As deposit rates rise, where should you park your money?

Central banks around the world are raising rates to suck liquidity and bring down the soaring inflation. Banks too are passing on the rates. Find out where should you park your hard-earned money

Bank of Maharashtra Q2 net doubles YoY to Rs 535 cr as NIM improves

Lender eyes equity offering by Q4FY23 or early FY24

Indians remitted $2.67 billion in August under LRS scheme, shows data

According to RBI data, in August, Indians remitted $467.52 million for overseas education, $330.70 million for maintenance of close relatives, and $221.31 million in gifts.