Page 627 - Finance News

Expect NPAs to taper down from next quarter,says Bank of Baroda CEO

In the three months to December period, BoB's fresh slippages stood at Rs 10,387 crore, of which Rs 4,509 crore were on account of divergence found by the Reserve Bank for 2019 fiscal

MFI industry seeks more refinance from DFIs in budget

The industry has also urged the government to create a dedicated fund for MFIs which are financing water and sanitation projects

UCBs reported nearly 1,000 frauds worth Rs 220 cr in past five fiscals: RBI

Responding to an RTI query, the central bank said a total of 181 fraud cases involving Rs 127.7 crore were noticed during 2018-19

Saraswat, Cosmos to seek RBI approval for universal banking licences

The two leading urban co-operative banks (UCBs) - with over 100 years of history each - will be the first to seek the central bank's nod after the revisit of regulations pertaining to the sector

After bad loan issue, experts see more pain ahead for Bank of Baroda

Credit costs could stay elevated in the coming financial year

Weak demand and slowing economy now cast their shadow on private banks

The periodic data from the Reserve Bank of India highlights how the slowdown is hurting the banking sector

DCB Bank posts PBT of Rs 131 crore in Q3; net profit improves to Rs 97 cr

DCB Bank's total income was up 13.66 per cent at Rs 990.89 crore during the quarter under review as against Rs 871.78 crore in the corresponding period a year ago

ICICI Bank PBT soars 187% in Q3 on growth in interest, other income

The private sector lender had posted PBT of Rs 1,902 crore in Q3FY19

Brokerages eye ETF play to take advantage of the rising investor interest

Instead of just focusing on earning brokerage selling ETFs, broking houses are also considering packaging multiple ETFs as part of a more customised advisory service offering multiple asset exposure

Indian Bank posts 74% growth in PBT at Rs 390.35 crore for Q3FY20

The performance was in line with expectations, Padmaja Chunduru, MD & CEO, Indian Bank said

'Tax evasion social injustice': CJI calls for speedy resolution of disputes

The Chief Justice said tax judiciary plays a very important role in resource mobilisation of the country and expressed concern over pendency of cases

Allahabad Bank board approves Rs 2153 cr capital infusion ahead of merger

Notably, earlier this financial year, the government had infused about Rs 6896 crore in the bank

Banks association asks NPCI to scrap MDR on UPI, RuPay card transactions

Finance Minister Nirmala Sitharaman had said in the last Budget that no charge would be levied on UPI and Rupay transactions

Operations may be impacted due to bank unions' two-day strike: SBI

Bank unions have called for a two-day nationwide strike on January 31 and February 1 after talks over wage revision failed to make headway with the IBA

Banking consortium declares Rs 14,000-cr ABG Shipyard loan 'fraud' account

With the account being declared 'fraud', banks are not expected to make additional provisioning; it has been already classified a non-performing asset

Cholamandalam Investment pre-tax profit up 9.4% in December quarter

The company will be issuing shares to promoter entity Cholamandalam Financial Holdings, to raise around Rs 300 crore in one or more tranches

HDFC Life reports 2.7% rise in profit before tax at Rs 263.61 crore in Q3

Net premium income saw a 13% rise to Rs 7,854 crore in Q3 versus Rs 6,897 crore in the year-ago quarter

Canara Bank profit before tax rises 40% to Rs 531.42 crore in Dec quarter

Advances grow at tepid pace in Q3, indicating slowing loan demand

HDFC Bank to tap Egon Zehnder to identify Aditya Puri's successor: Report

Puri, whose term comes to an end in October this year, is also an advisor to the search committee tasked with identifying a suitable candidate

RBI buys Rs 10,000 cr of long-term securities in 4th special open mkt ops

The cut-off yield for 7.32 per cent-2024 was 6.408 per cent, while for 6.45 per cent-2029, it was 6.5780 per cent