Page 361 - Finance News

SBI cuts savings deposit rate by 5bps to 2.7%;BoB raises FCNR deposit rates

State Bank of India (SBI) has reduced the interest rate on savings accounts by a marginal 5 basis points to 2.70 per cent effective from October 15

American Express to start reporting card information to NeSL in November

Decision is in compliance with 2017 RBI circular asking financial creditors to submit financial information to an information utility under Section 215 of IBC

Revised RBI norms to improve governance, bolster ARCs structurally: Crisil

More stringent NOF guidelines could edge out smaller players, lead to consolidation

Bank of Maharashtra's net profit reports 2-fold jump to Rs 535 crore in Q2

State-owned Bank of Maharashtra (BoM) on Monday reported a two-fold jump in its net profit to Rs 535 crore in the September 2022 quarter, helped by a decline in bad loans.

What is lock-in period?

Anchor investors are offered shares in an IPO a day ahead of its primary market debut. But they cannot offload it for the next 30 days. It is called the lock-in period. This report tells more about it

Bank of Maharashtra slashes home loan rate to 8% as part of festive offer

State-owned Bank of Maharashtra (BoM) on Sunday announced a cut in interest rate on home loans to 8 per cent as part of its festive offer

HDFC twins may merge a few months ahead of schedule: HDFC Bank CFO

HDFC Bank reported a 20.1 per cent year-on-year increase in net profit to Rs 10,605.8 crore in July-September

Digital Banking Units to further augment digital infra, says RBI governor

The units will start will disbursing small ticket retail, MSME loans

A big step towards 'ease of living': PM Modi opens 75 digital banking units

The DBUs will help banks that are now looking to reduce their physical footprint with fewer brick-and-mortar branches, with a 'light' banking approach.

UP gets digital banking footprint with four of the 75 DBUs on its soil

The DBU are being set up to ensure the benefits of digital banking reach the remotest of places

State-owned NBFCs looking to tap into India's first sovereign green bonds

The finance ministry is yet to confirm their participation and draw broad contours of the bond issuance

PM Modi dedicates 75 Digital Banking Units to nation; check full list

The economic progress of a country is directly linked to the strength of its banking system, he said after dedicating 75 DBUs to the nation

NBFC Sundaram Finance Ltd revises interest rates on term deposits

Non-banking finance company Sundaram Finance Ltd has revised the interest rates on term deposits for tenures of one to three years with immediate effect

PM Narendra Modi dedicates 75 Digital Banking Units across 75 districts

With an aim to promote financial inclusion, Prime Minister Narendra Modi on Sunday dedicated 75 Digital Banking Units (DBUs) to the nation.

Sharp differences among MPC members on future interest rate hikes

The next review of the monetary policy committee is scheduled on December 5-7

Cracking the whip on co-op banks: A look at RBI actions in 2022 so far

Here is a look at the RBI actions on co-op banks in 2022 so far.

Loan Apps menace: Bankers too will be taken to task, warns AP DGP

Bankers, along with others, would be made liable for extortion and abetment to suicide in instances involving death by suicide of borrowers (from loan apps)

After RBI missive, FIDC asks NBFCs to revise codes of conduct

Has asked them to insert penalty cause for repeated breaches

Federal Bank posts highest-ever quarterly profit; up 53% over last year

NII up 19.1% to Rs 1,762 crore, other income rises 24% to Rs 610 crore

Shriram Group likely to submit EoI for privatisation of IDBI Bank

Entry of Shriram Group as a bidder, could set the stage for at least a two-way contest for IDBI Bank with Prem Watsa's Fairfax Financial also believed to be a contender