Page 453 - Finance News

RBI lifts restrictions on Diners Club, allows onboarding of fresh customers

RBI had barred Diners Club from onboarding fresh customers from May 1 and said the restrictions would remain in place till the card issuer met RBI norms on local data storage

Indian Bank launches video KYC facility enabled by VCIP technology

The Video KYC facility further simplifies the subsequent steps and would deliver the cheque book and ATM card to the registered address of a customer

HSBC explores India private banking re-entry 6 years after calling it quits

HSBC exited the Indian private banking business in 2015 as part of a group strategy. The lucrative but very competitive Indian market has few foreign players

BFSI Insight Summit: Why should we not seek subsidy, ask panelists

Say customer engagement has been one of the pain points for insurers, historically

SBI Card to raise Rs 2,000 cr by issuing bonds on private placement basis

SBI Cards and Payment Services (SBI Card) on Monday said it will raise Rs 2,000 crore by issuing bonds on a private placement basis

Buy now, pay later set to surge over ten-fold in India within four years

Redseer estimates India's BNPL market will rocket to $45-50 billion by 2026 from $3-3.5 billion now

Karur Vysya Bank reports 44% jump in net profit to Rs 165 crore in Q2

The south-based lender had posted a net profit of Rs 115 crore in the same quarter a year ago.

Indian economy likely to remain cash-dependent for many years to come

After growing at over 20 per cent for most of 2020, currency in circulation growth fell to 8.5 per cent as of October 29 this year, shows RBI data

Is the sparkle returning? Banks are now better placed to handhold India Inc

The growth instinct appears to have taken root, and banks are now better placed to handhold India Inc

I-T dept freezes Rs 53-cr deposits of Maharashtra urban cooperative bank

The I-T Dept has frozen deposits worth over Rs 53 crore of an urban credit cooperative bank in Maharashtra in a recent raid

Subsidiary disbursed 84,000 loans without customer consent: IndusInd

Glitch at Bharat Financial Inclusion Ltd rectified immediately and independent probe will fix lapses, says IndusInd.

ICRA upgrades tier I, II bonds of Canara Bank and Punjab National Bank

The solvency is expected to get a further boost from expectations of steady internal capital accruals, the rating agency said in a statement

What's behind Indians' credit card spending surge in recent months?

India's credit card spending is back with a bang. What is driving the surge? Does this indicate a quick economic recovery? What are the lessons we can draw from this trend? Let us take a look

Bank credit grows by 6.84%, deposits by 9.94%, shows RBI data

Bank credit grew by 6.84 per cent to Rs 110.46 lakh crore

SBI net profit surges 67% to record Rs 7,627 crore in Sept quarter

Net interest income of the lender jumped 10.65 per cent YoY to Rs 31,184 crore from the same period last year

Home loans grew 76% to Rs 79,043 crore in March quarter, shows data

Property loans also showed 21.9 per cent expansion at Rs 23,418 cr against Rs 19,207 cr in Q4FY20

What are BPLR and MCLR, and how do they impact your home loan rates?

If you are planning to take a home loan from a bank, BPLR and MCLR are some of the terms you would come across. What are BPLR and MCLR and how do they impact home loan rates? Let's take a look

IBC helps recover Rs 2.5 trn in past 5 years from bad assets, says CRISIL

Only a few large cases see good recovery and the average time taken for resolution is 419 days.

Bank of India profit zooms 100% to Rs 1,051 crore on low provisions

Its net interest income, the interest earnings minus expense, fell 14.32 per cent in the reporting quarter to Rs 3,523 crore in Q2FY22

Sell bad debts early, let ARCs take part in IBC: RBI committee

About 80 per cent of the recovery ARCs made came through the "deployment of measures of reconstruction that do not necessarily lead to revival of businesses"