Page 20 - Banking

Big technology platforms like Google no threat to banks, say experts

Google has a customer interface feature and the Unified Payments Interface (UPI) is a feature for mobile to mobile payment

RBI clarifies norms for upgrading of accounts classified as NPAs

Asks lenders to mention exact due date for repayment in loan agreements

Top headlines: Paytm IPO subscribed 1.89 times; Nykaa makes stellar debut

Business Standard brings you the top stories from today

Indian Bank launches video KYC facility enabled by VCIP technology

The Video KYC facility further simplifies the subsequent steps and would deliver the cheque book and ATM card to the registered address of a customer

McLeod Russel signs ICA with its banking lenders for debt resolution

Plan will have a mix of capital infusion by promoters and recast of balance debt. McLeod owes banks Rs 1,800 cr; with unpaid interest, the total is about Rs 2,300 cr

Banking accountability

Robust system is needed for investigation

Bank of India Sep qtr profit soars nearly 100% to Rs 1,051 crore

The bank had posted net profit of Rs 526 crore in the same period a year ago

Bandhan Bank gets empanelled as agency bank of Reserve Bank of India

The RBI's decision will help Bandhan Bank in contributing to nation-building, its MD and CEO Chandra Sekhar Ghosh said

Unity Small Finance Bank begins operations, paving way for merging PMC

Unity Small Finance Bank, the 51:49 joint venture between Centrum Group and payments app Bharatpe, on Monday launched their first branch that will go a long way in resolving the crippled cooperative PMC Bank by merging it with the new entity. Early evening, the Reserve Bank said Unity SFB began operations with the first branch going operational in the city. The 12th small finance bank begins operations with over Rs 1,100 crore of equity capital, over 2 lakh customers and an asset base of over Rs 2,400 crore which comes from the existing MSME and MFI credit business of the Centrum Group, Jaspal Bindra, group executive chairman and also the non-executive chairman of Unity Bank, told PTI on Monday. Unity Bank commenced operations in a record time as it got the final licence only on October 12 from the Reserve Bank, after getting the in-principal approval in June. The licence is also contingent on the Unity Bank taking over the crippled Punjab & Maharashtra Cooperative (PMC) Bank, ...

Barclays CEO Staley resigns after Epstein probe by regulators

Staley will be replaced as CEO by the bank's head of global markets C.S. Venkatakrishnan

Equitas Small Finance Bank Q2 profit plunges 60% to Rs 41 crore

Net NPAs were at 2.37 per cent, up from 1.09 per cent in year ago period

Bandhan Bank reports net loss of Rs 3,008 cr in Q2 on higher provisioning

Shares of Bandhan Bank closed 2.36 per cent down at Rs 291.50 apiece on BSE.

IndusInd Bank raises Rs 2,800 crore debt capital through bonds

IndusInd Bank stock traded at Rs 1150.50 apiece on BSE, down 2.12 per cent from previous close.

Indian Bank reports second quarter net profit at Rs 1,089.17 crore

Gross NPA (non-performing asset) was at 9.56 per cent of gross advances as on September 2021 brought down by 33 basis points year on year

UCO Bank logs multi-fold jump in second quarter profit at Rs 205 cr

The bank improved on its bad assets significantly

IndusInd Bank second quarter net profit jumps 73% to Rs 1,147 crore

Bank's provisions for bad loans and contingencies fell to Rs 1,703.36 crore for the quarter from Rs 1,964.44 crore reserved for the year-ago period

Indian Overseas Bank second quarter profit jumps to Rs 376 cr

Gross NPAs stood at 10.66 per cent (Rs 15,666 crore), down from 13.04 per cent (Rs 17,660 crore)

Central Bank of India second quarter net profit jumps 55% to Rs 250 cr

Public sector Central Bank of India on Tuesday reported an over 55 per cent jump in net profit at Rs 250 crore for the quarter ended September. The lender had posted a net profit of Rs 161 crore during the same quarter of the previous fiscal. However, total income of the bank during July-September period of 2021-22 was down at Rs 6,503.39 crore, as against Rs 6,762.36 crore in the year-ago period, it said in a regulatory filing. Net interest income rose 5.99 per cent to Rs 2,495 crore, as against Rs 2,354 crore earlier. Net interest margin (NIM) improved from 3.21 per cent to 3.36 per cent on a year-on-year basis, registering an improvement of 15 basis points, it added. On the asset quality front, net non-performing assets (NPAs or bad loans) reduced to 4.51 per cent as of September 30, 2021, from 5.60 per cent by end of the same month last year. Gross NPAs moderated to 15.52 per cent from 17.36 per cent. Also, the bank's cost of deposit declined to 3.84 per cent from 4.45 per c

Axis Bank second quarter net profit rises 86% to Rs 3,133 crore

Private sector Axis Bank on Tuesday reported an over 86 per cent jump in its standalone net profit at Rs 3,133.32 crore in the second quarter ended September 2021. The bank had posted a net profit of Rs 1,682.67 crore during the same period of the previous fiscal year. Total standalone income during July-September 2021-22 rose to Rs 20,134.39 crore, from Rs 19,550 crore in the same period of 2020-21, Axis Bank said in a regulatory filing. The bank showed improvement on the asset quality front, as the gross non-performing assets (NPAs) or bad loans fell to 3.53 per cent of the gross advances by the end of September this year from 4.18 per cent in the same period a year ago. Net NPAs, however, rose to 1.08 per cent from 0.98 per cent. Bank's provisions for bad loans and contingencies for the reported quarter fell substantially to Rs 1,735 crore from Rs 4,343 crore put aside in the year-ago period. Shares of Axis Bank closed at Rs 842.25 apiece on the BSE, down 0.33 per cent from th

Canara Bank net profit jumps over two times to Rs 1,333 cr in Sep qtr

State-run Canara Bank on Tuesday reported over two-fold jump in its net profit at Rs 1,332.61 crore in second quarter ended September of this fiscal. The bank had posted net profit of Rs 444.41 crore in the same period of the previous fiscal year. Total income of the bank also rose to Rs 21,331.49 crore during July-September period of 2021-22, as against Rs 20,793.92 crore in same period of 2020-21, Canara Bank said in a regulatory filing. Bank's gross non-performing assets (NPAs) were a tad up at 8.42 per cent of the gross advances as of September 30, 2021, as against 8.23 per cent by end of September 2020. However, it fell sequentially from 8.50 per cent by end of June 2021 quarter. In value terms, the gross NPAs stood at Rs 57,853.09 crore, up from Rs 53,437.92 crore. Net NPAs (bad loans), however, fell to 3.21 per cent (Rs 20,861.99 crore) from 3.42 per cent (Rs 21,063.28 crore). Provisions for bad loans and contingencies for the reported quarter fell to Rs 3,360.23 crore fro