Page 413 - Finance News

Missing inflation mandate is a possibility: RBI's MPC member Jayanth Varma

'The markets should not assume we will guide them, because the data is coming without warning', said Varma

Six groups set up to improve PSB functioning to submit report by December

Participating in the meeting, Financial Services Secretary Sanjay Malhotra recently asked the banks to explore strategies for long-term profitability and adopt a more customer-centric approach.

HDFC Bank declares Rs 15.50 per share dividend for shareholders

HDFC Bank on Saturday declared a 1550 per cent or 15.50 per share dividend to its shareholders for the financial year 2021-22.

ICICI Bank Q4 PAT surges 59.4% to Rs 7,018.7 cr

NII stood at Rs 12,605 cr, other income rose 15% to Rs 4,737 crore

ICICI Bank's net profit up 59% in Q4; beats street estimates

Its NII grew by 21 per cent in the same period to Rs 12,605 crore versus Rs 10,431 crore in the year ago period

RBI may be more open to granting credit card licences to NBFCs: Macquarie

RBI also made it clear that NBFCs will have to take prior approval from the RBI for issuing credit cards to their customers.

Russia-Ukraine conflict can hurt growth prospects too: MPC minutes

Policy making has to be nuanced and nimble, says RBI governor Shaktikanta Das

Bank of Baroda cuts home loan rate by 25 bps to 6.5% till June end

The move runs contra to the 5 bps hike in MCLR; the special rate is available across all loans amounts and is linked to borrower's credit profile

Finance ministry, state-run banks discuss 3-year strategic roadmap

Will review progress made by PSBs on various schemes today

MPC minutes: Governor Das said RBI must match up to 'dynamic situations'

The five other members had also expressed a similar opinion amid the ongoing Russia-Ukraine conflict's impact on the global and domestic economies

Bank credit grows by 10.09% to Rs 119.88 trn; deposits by 10.06%

Bank credit grew by 10.09 per cent to Rs 119.88 lakh crore and deposits by 10.06 per cent to Rs 167.42 lakh crore in the fortnight ended on April 8, the RBI data showed.

Consumer loans up 32% in festive season of FY22, marking demand revival

The festive season spanning October-December period saw origination worth Rs 19,356 crore in FY21.

RBI says non-banks need approval to issue credit cards, lists more rules

Minimum net-owned fund mandated at Rs 100 crore; cards cannot be unilaterally upgraded.

RBI directs UCBs to eliminate honorary positions within one year

The Reserve Bank on Thursday asked Urban Cooperative Banks (UCBs) not to create create any honorary position or title such Chairman Emeritus and Group Chairman at the board level

RBI sets 3-year deadline for non-individual borrowers to get tracking code

The LEI is a 20-character alpha-numeric code used to uniquely identify parties to financial transactions worldwide

Banks globally need to compete with fintech players to keep pace: Report

Nearly half of respondents said their current banking relationships were neither rewarding (49 per cent) nor emotionally connected (48 per cent), while 52 per cent said banking was not 'fun'

RBI prohibits issuance of unsolicited cards by issuers, warns of penalty

It also asked card issuers and third-party agents not to resort to intimidation or harassment during recovery of dues from customers

2x rise in people opting for personal loans to celebrate festivals: Report

Personal loan origination in value terms doubled to over Rs 1.47 lakh crore in December 2021 quarter as compared to Rs 75,000 crore in 2018, the report by Crif High Mark, a credit bureau, said

On the road to 75 new digital banks, there will be twists and turns

The finance minister's Washington announcement signals an acceleration of the government's plans but there are many basic questions to address still

Reserve Bank of India's latest norms won't be disruptive to NBFCs

Intend to narrow regulatory arbitrage between banks and shadow banks