Page 421 - Finance News

ICICI Bank eyes 40% growth in FY22 retail loan disbursement in Gujarat

Going forward, bank's expansion focus is on micro markets like textile hub and diamond market in Surat, ceramic market in Morbi, steel, metal and pharma in Ahmedabad and paper units in Vapi

Axis Bank acquires Citi's India consumer business in a Rs 12,325-cr deal

Acquisition of 3 million unique customers of Citibank India to enhance Axis Bank's presence in the key identified growth segments, the Mumbai-headquartered lender said

Karnataka Bank raises Rs 300 crore through bonds on private placement basis

To comply with Basel-III capital regulations, banks globally need to improve and strengthen their capital planning processes

Pandemic-related stress on unsecured loan assets over: HDFC Bank

The unsecured lending book for the bank includes credit cards and personal loans

Jammu and Kashmir Bank raises Rs 360 crore through bonds

Shares of the bank closed at Rs 32 apiece on the BSE, down by 3.18 per cent from previous close

Citigroup to sell India consumer business to Axis Bank for $1.6 bn

The deal will include the transfer of about 3,600 Citi employees to Axis, and Citi expects the release of about $800 mn of allocated tangible common equity after the deal

Axis Bank set to buy Citi's India consumer business: Report

In April 2021, Citigroup announced its plan to exit from the consumer banking business in India as part of its global strategy

RBI announces another $5-bn dollar/rupee sell-buy swap on April 26

The move is aimed to take out excess liquidity

Punjab National Bank plans to raise Rs 12,000 crore through bonds

Punjab National Bank (PNB) on Tuesday said its board has approved a proposal to raise Rs 12,000 crore through issuance of bonds to fund business growth.

IDBI Bank to sell balance stake in Life Insurance JV to Ageas

The board of directors has approved to sell IDBI Bank's entire stake of 200 million equity shares in AFLI to Ageas pursuant to exercise of Call Option by Ageas.

IDBI Bank plans to raise up to Rs 3,000 crore through AT1 bonds

The private sector lender will also raise up to Rs 1,000 crore via infrastructure bonds to fund projects and affordable housing.

Compliance, risk management, audit weaknesses of banks, says RBI's MK Jain

RBI's MK Jain observed that the compliance setup was not resourced adequately with required number and quality of staff in many cases.

ICICI Bank to buy 1 mn shares in open network e-commerce platform ONDC

After the acquisition of shares, the bank will hold a 5.97 per cent stake in ONDC

Religare Finvest defaults on an interest payment to NCD holders

Religare Enterprises on Tuesday said its debt-ridden subsidiary Religare Finvest Ltd (RFL) has defaulted on an interest payment due on March 28 for the non-convertible debentures (NCDs).

SBI to buy entire share of three stakeholders in SBI Global Factors

The decision was taken in a meeting of the Executive Committee of Central Board (ECCB) of SBI held on March 29, 2022

IDBI Bank board okays rupee bond borrowing limit of Rs 8,000 cr for FY23

Stock of IDBI Bank closed 3.05 per cent down at Rs 42.85 apiece on BSE

Public sector banks sufficiently capitalised, says MoS Finance

The government has infused capital amounting to Rs 2,86,043 crore in public sector banks (PSBs) during the last five years and they are sufficiently capitalised, Parliament was informed on Tuesday.

Financial institutions should be board-driven, says RBI Dy Guv

Financial institutions should be board-driven and not end up being dominated by individuals as it could lead to undesirable consequences, Reserve Bank Deputy Governor M K Jain has said

Banking services partially impacted on second day of nationwide strike

Transactions at many public sector banks were impacted as employees did not report for duty

11 crypto exchanges found to be evading Rs 81.54 cr in GST, says govt

WazirX, Coin DCX and CoinSwitch Kuber among companies under investigation, Parliament is told