Page 46 - Banking Sector

Cautious approach: Small finance bank model in the slow lane, say experts

Unity Small Finance Bank was the last one to get a licence in the category in November 2021

AU SFB launches multiple products like credit cards with exclusive features

In a bid to increase fee income, AU Small Finance Bank (AU SFB) on Tuesday launched an array of products including Rupay credit card and ATM insurance. Among the latest offerings are two innovative credit cards: the AU SPONT Rupay Credit Card and Secured Credit Card - NOMO (No Missing Out), developed in collaboration with NPCI and VISA, respectively. The NOMO Credit Card marks AU SFB's debut into the realm of secured credit cards, backed by a fixed deposit, the bank's managing director Sanjay Agarwal said here. Additionally, he said, AU SFB has unveiled the AU 0101 Business App, designed to offer customized solutions for proprietorships and MSMEs, alongside AU0101 Version 2.0, engineered to provide customers with an enhanced mobile banking experience, complete with exciting new features. First time in Indian banking industry, he said, AU SFB has launched ATM Insurance, for the convenience of customers to buy insurance through AU SFB's ATMs with their debit card. Insurance journey

SBI Card introduces inaugural travel-centric core credit card 'MILES'

The card promises comprehensive travel benefits, including the conversion of Travel Credits to Air Miles and Hotel Points, enhanced rewards on all travel bookings, and access to airport lounges

Expect to log a record profit this time: J&K Bank CEO, MD Baldev Prakash

Baldev Prakash, is quite reasonably a happy man. Prime Minister Narendra Modi too recently praised the turnaround due to government efforts

CD issuances fall significantly in April as liquidity conditions ease

Total CD issuances amounted to around Rs 19,850 crore as of 21 April, a significant decrease from the Rs 1.2 trillion worth of issuances in March

IndusInd Bank successfully executes RBI's programmable CBDC pilot

For this pilot, IndusInd Bank collaborated with circularity innovation hub

Tamilnad Mercantile Bank net profit falls flat at Rs 253 crore in Q4

The bank posted a net profit of Rs 284 crore for the October-December 2023 quarter

HDFC Bank Q4 results: Profit jumps 37% to Rs 16,512 crore, NII up 24.5%

HDFC Bank Q4 result: Boosted by trading gains and robust credit performance, HDFC Bank's net interest income rose 24.5% in the March quarter, with net profit reaching Rs 16,512 crore

MFs drop exposure to banks, NBFCs in Q4; hike in auto and pharma

This comes amid persistent margin pressure and regulatory issues

Universal bank licences: Here are key changes in licensing criterion

Two new sets of banks - small finance banks and payments banks - have also started operations under differentiated licensing norms

Vietnam mounts $24 billion rescue plan for bank engulfed in giant fraud

The State Bank of Vietnam's previously unreported cash injections into SCB amount to 5.6% of the nation's annual economic output, or about one-fourth of Vietnam's foreign-exchange reserves

UCB advances to priority sector up over 27% in FY23, shows RBI data

A majority of the advances of UCBs was given to MSMEs, amounting to Rs 1.3 trillion in FY23

NaBFID posts net profit of Rs 1,601 cr in FY24; loans stood at Rs 35,342 cr

Considering FY24 being the first full year of business operations, the Board advised that the income be continued to be accumulated as reserves to augment capital growth

Deposit rates raised by public sector banks higher than private peers

The share of bank loans bearing over 8 per cent interest rates increased from 47.2 per cent in March 2022 to 78.9 per cent in March 2023, and further to 83.7 per cent in December 2023

Goldman Sachs Q1 results: Profit jumps 28% on investment banking strength

"We continue to execute on our strategy, focusing on our core strengths to serve our clients and deliver for our shareholders," CEO David Solomon said

Home loans: To top up or not to top up?

The home loan top-up, a kind of secured multipurpose personal loan, is on the regulator's radar. Rightly so

RBI rejects Tamilnad Mercantile Bank's proposal for CEO candidate

Bank has been asked to submit "fresh panel of candidates with suitable experience" for the position of chief executive

Election season may hit govt capital expenditure spending, FDI inflows

In case of FDI, the total FDI inflows was over $50 billion in FY20 and its share during the election months of April-May 2019 turned out to be 18.1 per cent

Govt unlikely to privatise GIC Re at this stage: CMD Ramaswamy Narayanan

Narayanan says the company's business from Gift City will substantially increase in the coming days

RBI rejects two more applications for setting up small finance banks

So far, the regulator has received 13 applications to set up banks under the guidelines for 'on tap' licensing of Universal Banks and Small Finance Banks