Page 465 - Finance News

Retail depositors earning negative returns; relook taxes on interest: SBI

If not for all the depositors, the taxation review should be carried out for at least the deposits made by senior citizens who depend on the interest for their daily needs, the SBI economists said

Govt extends Uday Kotak's term as IL&FS non-exec chairman by 6 months

Kotak, who is also the managing director and chief executive officer of Kotak Mahindra Bank would continue being the non-executive director on the board of IL&FS until April 2, 2022

HDFC launches festive offer; home loan starting from 6.7%

Country's biggest mortgage lender HDFC on Tuesday announced a festive offer in line with peers like SBI with home loans starting from 6.70 per cent.

HDFC Bank says it will double retail loans, sees 'robust demand' in economy

Uncertainty is declining as businesses seek to bolster growth after Covid-19, says the bank's country head for retail assets.

China tech crackdown is India's gain: US venture investor March Capital

Indian startups in internet and cloud software offer strong growth prospects but without Chinese firms' risk: Sumant Mandal.

Kotak Mahindra Bank to acquire 9.98% stake in KFin Tech for Rs 310 cr

KFin Technologies provides technology solutions across a broad spectrum of asset classes spanning mutual funds, alternative investment funds and pension funds

Private lender YES Bank resumes credit card issuance with Visa tie-up

Its credit card issuance activity was hit in July after the Reserve Bank of India placed curbs on Mastercards

HDFC Bank, Paytm launch Visa-powered credit cards ahead of festive season

The partnership aims to provide one of the widest range of offerings across customer segments, with special focus on millennials, business owners and merchants

RBI to conduct open market purchase, sale of G-secs on Thursday

The Reserve Bank on Monday said it will conduct an open market purchase of government securities aggregating to Rs 15,000 crore under the G-sec Acquisition Programme (G-SAP 2.0) on September 23.

State Bank of India prepared to support Tata group's bid for Air India

Holding company's 'AAA' rating will make it a formidable player: Bankers

Nabard chief stresses on strengthening IT infra of cooperative banks

Strengthening of IT infra of cooperative banks, enhancement of agriculture term loans and diversification of credit portfolio are important factors to make them sustainable on a long term basis

PNB earns Rs 170 cr in FY21 as charges for not maintaining min balance: RTI

Punjab National Bank collected nearly Rs 170 crore by levying charges on customers for not maintaining the required minimum balance in their accounts during 2020-21, according to RTI information.

HDFC Bank ties up with Paytm to issue co-branded credit cards from Oct

The credit cards will be launched in October during the festive season to tap into the high consumer demand for credit cards

Bank loan fraud: ED arrests MD of Mumbai-based agro company

The Enforcement Directorate (ED) on Monday said it has arrested the managing director of a Mumbai-based agro company in a money laundering probe linked to an alleged multi-crore bank fraud.

Growing small and medium businesses embrace the digital-first world

71% of growing SMBs say their business survived the pandemic because of digitisation

IDBI Bank strategic sale: Most merchant bankers indicate 52 weeks' time

Most of the merchant bankers who had submitted bids for facilitating strategic sale of LIC-controlled IDBI Bank indicated a time-frame of one year to complete the elaborate process, sources said

Muthoottu Mini Financiers launches 3 zonal offices for customer experience

Muthoottu Mini Financiers Ltd, one of the largest NBFC in India, announced launch of three new zonal offices across India to upgrade operational efficiency and to provide better customer experience.

PNB cuts rate on home loan above Rs 50 lakh by 0.5 pc; RLLR by 0.25 pc

A day after SBI and Bank of Baroda announced festival season offer, Punjab National Bank on Friday slashed the interest rate on home loan above Rs 50 lakh by 0.50 per cent to 6.60 per cent

Punjab National Bank cuts repo-based lending rate by 25 bps to 6.55%

State-owned Punjab National Bank (PNB) on Friday said it has slashed the repo-based lending rate by 25 basis points (bps) to 6.55 per cent.

Collection recovery in securitisation yet to reach March 2021 levels

The performance of 143 rated securitisation deals showed the recovery has improved sentiments and supported the loan performance in June-July 2021