Page 403 - Finance News

RBI likely to bring 0.40% hike in rates in next policy review meet: Report

The Reserve Bank is expected to go for another rate hike of 0.40% at the scheduled review of the monetary policy next week, a foreign brokerage said on Friday.

A Manimekhalai appointed as MD of Union Bank; Saha takes charge of P&S Bank

The Banks Board Bureau (BBB), the headhunter for directors of state-owned banks and financial institutions, had recommended their names for appointment in March

Sebi allows virtual annual meetings for InvITs, REITs till end of December

Markets regulator Sebi on Friday allowed InvITs and REITs conduct annual meetings of their unitholders and other meetings through video-conferencing and other audio-visual means.

SBI elevates 7 CGM-ranking officials to deputy managing director rank

The selection panel of the board used face-to-face interaction as well as hybrid mode to carry out performance review and promotion exercise

YES Bank board approves buyback of overseas bonds up to $200 mn

The lender will do the repurchase at 97% of the principal amount of the notes.

Principal MF ceases to exist as mutual fund from June 2, says Sebi

Capital markets regulator Sebi on Thursday said Principal Mutual Fund (PMF) now ceases to exist as a mutual fund.

Bank credit to NBFCs increases 10% to Rs 10.5 trn in FY22: Report

Bank credit to NBFCs grew in double digit in FY22 with outstanding bank credit to them rising by 10.4 per cent to Rs 10.5 trillion on the back of improvement in overall economic activities

HDFC Bank sees profits more than doubling to $15 bn in 5 years after merger

CEO Sashidhar Jagdishan tells analysts merger with HDFC gives the lender the opportunity to double its balance sheet every five years

EMIs to hurt more as PNB, ICICI Bank, HDFC hike interest rates

Third hike by HDFC in a month, ICICI increase steepest at 30 basis points

What is windfall tax on oil companies?

Crude oil price is rising. As the burden on people's pocket is increasing, experts are suggesting one-time 'windfall tax' on companies that have profited from the price rise. What is 'windfall tax'?

Bank of Baroda revises proposed dividend upwards to Rs 2.85 per share

Small impact on net-worth and capital adequacy. The dividend payment is subject to shareholders' approval at the annual general meeting

UPI processed nearly 6 billion transactions worth Rs 10 trillion in May

NPCI sets its eyes on processing a billion UPI transactions a day on its platform within the next 3-5 years

Time ripe for further transformation to make bank future-ready: SBI chief

State Bank of India will focus on digital agenda, and partner with fintech firms and NBFCs to drive growth, says Dinesh Khara

HDFC raises interest rate by 5 bps; ICICI Bank raises MCLR by 30 bps

As of December 2021, a little over 39% of banking system loans are linked to the external benchmark, shows RBI data

Punjab National Bank raises benchmark lending rate by 0.15%; EMIs to go up

State-owned PNB raised its marginal cost of funds-based lending rate by 15 basis points or 0.15 per cent across all tenures, a move that will lead to an increase in EMIs for borrowers

Mudra loans worth Rs 36,578 cr sanctioned to 5.4 mn borrowers in April-May

A total of Rs 19.22 trillion loans have been sanctioned to 353 million borrowers under the scheme in seven years since inception

Credit offtake remains robust in April across sectors, shows RBI data

Loans to medium-sized industries gerew 53.5% this April as compared with 44.8% a year ago

Stressed assets of NBFC-MFIs likely declined to 14% as of end-March: Crisil

However, stressed assets of NBFC-MFIs, which comprise of 30+ Portfolio at Risk (PAR) and loan book restructuring remains well above the pre-pandemic level of around 3 per cent

Privatisation process of two PSBs at advanced stage, says DFS Secy Malhotra

The approval to privatise the two PSBs is yet to be considered by the Core Group of Secretaries on Divestment (CGD) headed by cabinet secretary

Advance action on bank privatisation underway, says DFS secretary

In the Union Budget for 2021-22, the government announced its intent to take up the privatisation of two PSBs in the year and approved a policy of strategic disinvestment of public sector enterprises.