Page 23 - Banking Industry

EnKash: Powering India's SMEs and start-ups with a suite of corporate cards

The firm currently has a user base of 100,000 enterprises and processes transactions worth about Rs 28,000 cr a year

HDFC, HDFC Bank merger: Analysts see banking industry consolidating

The banking sector, according to analysts at ICICI Securities, has been underperforming at the bourses against the overall market in the last six months largely due to credit growth concerns

Mar 28-29 nationwide strike may partially impact banking services

Strikers demands include scrapping of labour codes, no privatisation of any form, scrapping of National Monetisation Pipeline

Axis Bank set to buy Citigroup's India retail unit for $2.5 bn: Report

The Indian lender emerged as the buyer after beating out rivals, with factors such as job security for current Citigroup employees and competition.

Bounce rates in December fall to their lowest since Covid-19 pandemic

December data indicates a good third quarter for banks on asset quality front

Banks see uptick in credit growth; asset quality likely to improve

"An increase in bond yields would impact treasury performance," Motilal Oswal Securities said.

India digital loan apps blamed for mafia-like collection tactics, suicides

Panel set up by the RBI finds more than half of about 1,100 digital loan providers operate illegally.

NBFCs to witness revival in growth this year; may see slight uptick in NPAs

Non-banking financial companies (NBFCs) showed resilience in 2021 despite the coronavirus pandemic woes and are expected to witness continued momentum in growth this year

Fintech leading India's banking revolution but it's hampered by old rules

The country's licensing policy for financial institutions is past its sell-by date. Innovative solutions are out there but require regulation.

Create digital platform for MSME credit: IT Minister Ashwini Vaishnaw

Vaishnaw was speaking at 'Digital payment Utsav'

BS columnist Tamal Bandopadhyay wins Tata Literature Live! Award

Bandopadhyay won the award for his book Pandemonium: The Great Indian Banking Tragedy

Is the worst behind Indian banks?

Bankers are seeing better days ahead with expectations of a pickup in credit growth in the next few quarters as corporate India readies to invest. Let's wait and watch

J&K Bank reports net profit at Rs 111 crore in September quarter

Public sector lender Jammu & Kashmir Bank on Friday reported an over two-fold jump in net profit at Rs 111.09 crore in quarter ended September. The bank had posted a net profit of Rs 43.93 crore in the year-ago period and a profit of Rs 104.32 crore in Q1 of FY22. Total income of the bank rose to Rs 2,201.26 crore during the July-September period of 2021-22, as against Rs 2,194.47 crore in same period of 2020-21, Jammu & Kashmir Bank (J&K Bank) said in a regulatory filing. Bank's provisions for bad loans and contingencies for the reported quarter fell to Rs 192.68 crore, as against Rs 324.92 crore in same period a year ago. Even as there was a slight rise in gross non-performing assets (NPA) ratio at 8.95 per cent of the gross advances as of September 30, from 8.87 per cent by end of September last year. Net NPA was down at 3.02 per cent against 3.03 per cent. Stock of J&K Bank closed at Rs 45.95 apiece on BSE, up 0.33 per cent over previous close.

Private banks' Q2 profit soars 26% as economy shows signs of recovery

Helped by lower provisions and contingencies, which fell 26%; asset quality was broadly stable with 1% rise in GNPAs

Fintech regulations must be based on entity, not activity: RBI Dy Governor

If a fintech player is providing liquidity service (such as deposits and credit), it must be regulated as strictly as a bank, says T Rabi Sankar

Challenge for banks as outsiders Amazon, IKEA crack the finance code

Analysts say the risk for traditional lenders is that they will get pushed further away from the front end of the finance chain

State Bank of India to cut base rate by 5 bps to 7.45%, also reduce PLR

Also, it has cut its prime lending rate by 5 bps to 12.20 per cent

Top-level exits: AU SFB says 'nothing to hide' on disclosure issues

Jaipur-based AU Small Finance Bank (AU Bank) on Wednesday tried to allay concerns of investors and depositors with regard to top-level resignations in recent months, saying that it is a "simple HR issue" that the company management is trying to resolve. Concerns were raised over transparency issues as there has been a lag on part of the bank to make disclosure about the top-level resignations. In an early morning investor call, MD & CEO Sanjay Agarwal said the bank has "nothing to hide" and there is nothing on the "governance issue", and rather it was a simple HR issue that the management of the company is trying to resolve. On Tuesday, the bank had said that its Chief Audit Officer Sumit Dhir has expressed his desire to move back to his hometown Delhi, due to changes in his personal circumstances following the COVID second wave. Shares of the company witnessed a sharp decline of 12.64 per cent on Tuesday even as the broader market ended with significant gains. Shares of AU Bank .

S&P upgrades outlook on Indian Bank to stable on funding, liquidity profile

The rating agency affirmed Indian Bank's "BBB-" ratingm but ruled out any upward revision in the next one to two years

Hope fades for PSBs

Govt cannot keep infusing capital perpetually