Page 574 - Finance News

FM holds review meet for residential projects to boost realty investment

The meeting was conducted with the secretaries of the ministries of Finance and senior management teams

Irdai asks Axis Bank, Max Financial to make changes in deal structure

Irdai has asked them to factor in some alternate mechanisms subject to regulatory approvals.

RBI seeks internal car loan investigation details from HDFC bank

The RBI is also seeking information on steps taken by HDFC Bank to remedy any issues identified during the investigation, the people added, asking not to be named.

Partha Pratim Sengupta appointed new MD, CEO of Indian Overseas Bank

His appointment will be up to date of attaining the age of superannuation, December 31, 2022, or until further orders, whichever is earlier, it added

Bank employees' 15% wage hike may not be a costly affair for lenders

The hike in pay slip cost does not factor in superannuation and pension costs, along with performance linked incentives

Bank of Maharashtra reports 25% jump in Q1 profit on higher interest income

The lender had reported a profit after tax of Rs 81 crore in the year-ago same quarter and Rs 58 crore in the quarter ended March 31, 2020

UCO Bank approves raising Rs 3,000 cr in FY21, awaits shareholders nod

In a regulatory filing, the bank said that it will now seek shareholders' approval in its annual general meeting on August 7

Bank of Maharashtra Q1 PBT at Rs 101.13 cr, NII rises 9.14% to Rs 1,088 cr

The lender holds Covid-19 related cumulative provisions of Rs 425 crore, which is more than the norms prescribed by Reserve Bank of India

India to contribute 2.2% of world's digital payment market by 2023: Report

The Covid-19 pandemic is expected to further amplify the reach of digital payments with people terrified of using cash

Promoters of loan defaulting companies to soon face crackdown by lenders

With apex court's backing, banks to speed up enforcing personal guarantees

Axis Bank's operations head Tahilyani steps down within seven months

The sources also said that Tahilyani, who had joined Axis Bank this year, might be headed back to Tata AIA as the head of country operations

Govt's Zero MDR move has hit payments industry badly, says RBI committee

Panel believes move will discourage innovation, has already led to contraction in national gross value of services

Digital transactions could reach Rs 15 trillion a day by 2025: RBI

Daily transactions average 100 million now for a volume of Rs 5 trillion; just before Covid, they daily were averaging 125 million a day, or more than five times the volume in June 2016

WhatsApp to partner with more Indian banks in financial inclusion push

WhatsApp will also expand pilot projects with banking and other partners to cover financial services such as pensions and insurance

Mobile banking may become most preferred channel, says SBI's Rajnish Kumar

Out of 100 transactions at SBI, only 9 transactions are being made in branches

5G to give opportunities to expand financial coverage: IDFC First Bank head

Availability of high-speed internet in rural areas will present huge opportunities and help improve the penetration of financial services in the country, IDFC First Bank MD and CEO V Vaidyanathan said

NPCI updates UPI with auto pay feature for smoother recurring transactions

The feature needs customer mandates for these recurring payments to be made. Mandates can be set up with a frequency of user's choice such as daily weekly, monthly or annually

Banks need to be recapitalised as moratorium ends on Aug 31: SBI report

Banks have to improve governance and sharpen their risk management skills, says research report.

SBI Life Insurance pre-tax profit up 2.6% to Rs 387.68 crore in Q1

The value of new business was down 29 per cent year on year to Rs 240 crore.

Axis Bank Q1 profit down 19% on higher provisions, other income also dips

Gross non-performing assets (GNPA) stood at 4.72 per cent, compared with 5.25 per cent in the year ago quarter and 4.86 per cent in the fourth quarter