Page 407 - Finance News

UCO Bank appoints Sujoy Dutta as CFO; JK Bank gets govt nominee director

UCO Bank on Wednesday said it has designated Sujoy Dutta as the new chief financial officer with immediate effect.

India's inflation set to average at 9-year high of 6.9% in FY23: Ind-Ra

The average headline inflation is set to accelerate to a nine-year high at 6.9 per cent in FY23, and the Reserve Bank may go for more rate hikes during the fiscal, a domestic ratings agency said

Tamilnad Mercantile Bank's Q4 net rises 36%, total income increases 9%

Tamilnad Mercantile Bank's Q4 result: The total interest earned increased 6.23 per cent to Rs 3,833.86 crore for FY22 as compared to Rs 3,609.05 crore for the previous year

Indian banks to benefit from strong domestic economic growth: Moody's

Ukraine conflict will not derail the country's recovery

RBI's criticism for 'delayed' rate hike unfair, says ex-Guv D Subbarao

The criticism that the Reserve Bank of India was behind the curve in hiking interest rate to tame rising inflation is unfair, former RBI Governor D Subbarao said on Wednesday

Axis Bank hikes MCLR by 35 bps across tenors with effect from May 18

Recently, country's largest lender, State Bank of India (SBI), also increased its MCLR by 10 bps. SBI has hiked its MCLR by 20 bps in two months

On-tap licence: Sachin Bansal, five other applicants rejected by RBI

11 entities had applied for on-tap bank licences since the guidelines were released by the Reserve Bank of India

Merrill Lynch Fund sells 386,000 HDFC Bank shares for Rs 51 cr

Merrill Lynch India Equities Fund Mauritius Ltd on Tuesday offloaded 3.86 lakh shares at avg price of 1,306 per of private lender HDFC Bank for around rs 51 crore through open market transaction

MFIs' total loan portfolio grows 5% to Rs 2.6 trn as on March 2022: Report

Microfinance industry loan portfolio grew by 5 per cent year-on year to Rs 2,62,598 crore in the fiscal ended March 2022, according to a report by Sa-Dhan released on Tuesday.

RBI says 6 of 11 applicants found not suitable for bank permits: Full list

RBI announces decision on six of eleven pending applications for universal bank licence / small finance bank licence

Rupee recovers from record low, ends 7 paise higher at 77.47 to a dollar

The rupee on Tuesday recovered from its all-time intra day low of 77.79 to close higher by 7 paise on a stellar rally in domestic stock markets.

LIC IPO: How India's biggest public offering ended in a downbeat debut

By Aftab Ahmed and Nupur Anand

State-run banks post 81% rise in Q4 profit; NII up 18.5% to Rs 70,825 cr

Enhance capital adequacy and provisions for bad loans

Liquidity mop-up from secondary market resumes amid rising bond yields

According to latest data, the RBI has conducted open market operations in the last week of April and in the first week of May

Indian lenders look to refinance Adani's stake acquisition in Ambuja, ACC

While there are curbs on banks for directly funding takeovers and acquisitions, banks will assess any room for funding via overseas branches and subsidiaries when exposure review is done

Inflation will take time to moderate even after rate hikes: SBI Research

SBI Research did a dipstick study to understand the impact of the war on the inflation trajectory in both the rural and urban areas.

Please change the definition of 'fraud', bankers to urge RBI: Report

All the high-street bank CEOs decided to make a representation to RBI at a meeting to discuss issues faced by the lenders

Cryptos can 'seriously undermine' monetary system: RBI tells House panel

The digital assets can lead to 'dollarisation' of economy, say top officials of the central bank.

SBI hikes MCLR by 10 bps across tenures in second such move in two months

New rates effective May 15, overnight one-month and three-month MCLR now at 6.85% vs 6.75% earlier

Premature redemption price of sovereign gold bond fixed at Rs 5,115/unit

The price for premature redemption of sovereign gold bond (SGB) due on Tuesday has been fixed at Rs 5,115 per unit, an RBI release said.