Page 364 - Finance News

ICICI Bank, Bandhan Bank, Karnataka Bank increase MCLR across tenors

Loan rates going up after central bank's rate-setting committee hiked benchmark policy rate by 50 basis points

Indian Bank hikes MCLR by 0.10% across tenors from September 3

State-owned Indian Bank has revised the marginal cost of funds-based lending rates (MCLR) by 0.10 per cent across tenors from Saturday, which will make most of the consumer loans costlier

SBI Card ready with card tokenisation mandate: MD & CEO Rama Mohan Rao

The pure-play credit card issuer SBI Card has prepared the ground for moving towards card tokenization, which is set to kick-in from Oct, a move aimed at protecting against fraud as well as data theft

HDFC Bank partly recoups market share in credit card spends lost to embargo

RBI data shows that the bank has 28.4% market share in spends as of July, up 190 bps since last August. Pre-embargo, its share was 30.67%

Punjab National Bank to hike MCLR by 0.05% across tenors from Sep 1

Punjab National Bank has raised the marginal cost of funds-based lending rate (MCLR) by 0.05 per cent across tenors from September 1, making most of the consumer loans costlier

SBI to sell Anamika Conductors' bad loan account to recover Rs 102 cr

SBI will sell non-performing loan account of Anamika Conductors through e-bidding in late September to recover dues of Rs 102 crore

Fed policy action, RBI rate decision key driving factors for mkts: Analysts

The US Fed policy action, RBI rate decision and foreign fund flows are some of the major factors that will guide the equity markets in the near-term, analysts said

Ministry of Finance reviews performance of PSBs, pushes for credit growth

The govt reportedly said that it was keen on National Asset Reconstruction Company of India Ltd (NARCL) starting its operation

Jammu and Kashmir to Kerala, SBI executives are at every corner office

At least three PSBs have former SBI executives as MD & CEO at present - Sanjiv Chadha of Bank of Baroda, Partha Pratim Sengupta of Indian Overseas Bank and Soma Sankara Prasad of UCO Bank.

Credit card spends touch all-time high of Rs 1.16 trillion in July

Spends have topped Rs 1 trillion level for five consecutive months now

Credit cards gain more currency pipping debit cards for e-commerce

They overtake debit cards for e-commerce and bill payments but remain a minuscule portion of personal loans

Ahead of festive season, credit offtake remains strong in July 2022

Reserve Bank of India (RBI) data showed that credit to industry grew 10.5 per cent in July 2022 against a mere 0.4 per cent in July 2021

BoB issues Rs 2,500 crore AT-1 bonds at 7.88%, cheaper than peers

Four PSU banks have raised Rs 7,800 crore AT-1 bonds so far in FY23 as credit demand booms

RBI launches key household surveys to get inputs for monetary policy

Reserve Bank of India on Tuesday launched the next round of household surveys to capture inflation expectations and consumer confidence.

Finance Ministry to review credit flow in meeting with PSBs today

The department will also take stock of the banks' asset quality, and focus on large bad loans, implementation of the Centre's various schemes, and the lenders' plan to raise capital

Govt likely to invite preliminary bids for IDBI Bank stake sale next month

The government is likely to invite preliminary bids for selling a stake in IDBI Bank next month and the discussions with the RBI are at the final stages, an official said.

Reserve Bank can hike repo rate to 6% by December, say economists

The RBI rate hike expectations come despite economists predicting a moderation in inflation due to slump in global commodities and easing supply chain bottlenecks

FICCI-IBA survey: Banks say NPAs may rise in MSME sector in next 6 months

Retail trade, hospitality, aviation at high risk; long-term credit demand growing for infra, chemicals, food processing, and iron and steel sectors

Gap between slippage and recovery has narrowed: City Union Bank CEO

The bank's share closed at Rs 179.05 a piece on BSE, down 4.7% from its previous close while the broader Sensex was down 1.46%

Centre may revamp framework for setting state-owned banks' targets

New framework could be on lines of earlier 'Statement of Intent' used to fix annual targets, will monitor performance on parameters such as return on assets, NPA, financial inclusion initiatives