Page 17 - Banking

IDFC First Bank net profit at Rs 342 crore surges 168% in March quarter

Bank says the economic impact of the coronavirus is diminishing to help its asset quality, lending

Non-food bank credit grew 9.7% in March, personal loans rose 12.4%: RBI

Loans to agriculture and allied activities continued to perform well, registering a growth of 9.9 per cent in the reporting month

SBI Card's net rises three-fold to Rs 581 cr, income up 22% to Rs 3,016 cr

The pure-play credit card issuer had reported a net profit of Rs 175.42 crore in the same quarter of the previous fiscal year

IDBI Bank board approves appointment of two govt nominee directors

IDBI Bank on Friday said its board has approved the appointment of two government nominee directors with effect from April 28. The government nominee directors are Manoj Sahay, Joint Secretary and Financial Advisor, and Sushil Kumar Singh, Director, Department of Financial Services, Ministry of Finance, according to a regulatory filing. Sahay and Singh are not related to any other director of key managerial personnel on the board of the bank, the lender said. Sahay, a 1994 batch IA&AS officer, presently handles six departments -- revenue, expenditure, economic affairs, financial services, DIPAM and public enterprises. Earlier, he was on deputation as director (Administration & Finance) at National Highways and Infrastructure Development Corporation Ltd. under Ministry of Road Transport and Highways. Singh is an officer of 2006 batch of Indian Defence Accounts Service. Presently, he is looking after the financial inclusion division and monitoring the implementation of ...

Russian central bank lowers key rate to 14%, warns of more cuts

The central bank met after it unexpectedly cut the key rate to 17% earlier in April

Reserve Bank of India may curb first-loss default guarantees

Only regulated entities, rated arrangements can pass muster

BoI plans Rs 2,500 cr equity capital raise to comply with shareholding norm

The lender said it has decided to seek permission of its shareholders in the ensuing annual general meeting (AGM)/extra-ordinary general meeting (EGM) called for this purpose

Six groups set up to improve PSB functioning to submit report by December

Participating in the meeting, Financial Services Secretary Sanjay Malhotra recently asked the banks to explore strategies for long-term profitability and adopt a more customer-centric approach.

Bank liable for break-in and theft from locker

The National Commission observed that when a locker is broken into, it constitutes a breach of the promised assurance of safety, and is hence, a deficiency in service

After Visa and Mastercard, China's Unionpay suspends operations in Russia

As per media reports, the payment processor is reportedly worried about being the target of sanctions from the U.S. and other countries if it works with sanctioned Russian banks

Finance ministry, state-run banks discuss 3-year strategic roadmap

Will review progress made by PSBs on various schemes today

RBI directs UCBs to eliminate honorary positions within one year

The Reserve Bank on Thursday asked Urban Cooperative Banks (UCBs) not to create create any honorary position or title such Chairman Emeritus and Group Chairman at the board level

On the road to 75 new digital banks, there will be twists and turns

The finance minister's Washington announcement signals an acceleration of the government's plans but there are many basic questions to address still

Some banks stop credit for oil imports by Rosneft-owned Nayara: Report

Nayara has not been sanctioned as part of the international response to Russia's invasion of Ukraine, but Russian energy giant Rosneft, which owns 49% of the Indian refiner, has been.

FM to meet PSBs' heads on Apr 23 to nudge them for credit expansion

This is the first full review meeting after presentation of Budget 2022-23.

HDFC Bank and mortgage lender HDFC Ltd announce 'merger of equals'

Shareholders of HDFC Ltd will receive 42 shares of the bank for 25 shares held. Existing shareholders of HDFC Ltd will own 41 per cent of HDFC Bank.

Banking sector should see robust loan growth this year: BoM MD

The banking sector is at an inflection point with COVID-19 related-problems yielding place to the regeneration of demand in all segments of the industry and overall optimism in the economy: BoM MD

Unity Small Finance Bank pays Rs 3,800 cr to 850,000 PMC Bank depositors

According to the plan approved by the Union government, Unity Small Finance Bank was supposed to pay the insured deposit amount up to Rs 5 lakh received from the DICGC immediately.

Axis Bank to make significant gains from Citi deal only from FY2025

The rating agency S&P said the acquisition of Citi consumer business will strengthen Axis bank's retail market position and diversify its revenue profile

Banking services partially impacted on second day of nationwide strike

Transactions at many public sector banks were impacted as employees did not report for duty