Page 60 - Banks

New ODI regulations: Govt allows investment in financial services abroad

Holding less than 10% in an overseas entity not considered 'control'

Banks must ensure credit schemes reach eligible citizens: FM Sitharaman

'Difficult situation' caused by unintended people getting benefits of credit programmes now over, she says

Global banks slice and dice $80 bn in M&A debt that no one wants

In the case of the private-equity buyout of Citrix Systems, they're cutting the debt into smaller pieces to attract a wider pool of investors

The case for pricing UPI transactions and what's at stake for banks

Banks pay a switching fee running into hundreds of crores every year for UPI, but have to offer the service for free

Trade settlement: Govt says banks free to not deal with sanctioned entities

There are over 200 banks in Russia, and sanctions have not been imposed on all of them

HDFC Bank's new campaign 'Vigil Aunty' to help tackle cyber frauds

'Vigil Aunty' will create awareness via various social media platforms

Asset managers on the alert after 'WhatsApp' crackdown on banks

The issue gathered urgency when the pandemic forced more finance staff to work from home in 2020

Net profit of banks rose 37.1% to Rs 44,048 cr in Q1FY23: BoB report

The net profit of the banks rose by 37.1 per cent year-on-year to Rs 44,048 crore in the first quarter of the current financial year, according to a Bank of Baroda research report

Microfinance loans grow 24% YoY in Q1 of FY23; credit quality stable

Fund flow to the sector has improved but some smaller MFIs still find it difficult to access finance from banks

Gujarat: Japanese lender MUFG Bank commences operations from GIFT City

Japanese lender MUFG Bank on Wednesday announced the beginning of operations from Gujarat International Finance Tec-City (GIFT City) in India. Earlier in May, MUFG had received approval from the International Financial Services Centres Authority in India and the Financial Services Agency of Japan for the opening of this branch office in Gujarat. MUFG opened its first branch in 1953 in Mumbai and with the latest one at GIFT City, its total number of branches reached six. The other centres are New Delhi, Chennai, Bengaluru and Neemrana. Going forward, the bank will strive to further leverage its enhanced office footprint to provide an even more extensive and enriched suite of financial services to meet the diverse needs of its customers, MUFG said in a release. Stating that India's growth story is phenomenal, Shashank Joshi, Deputy CEO of India, expressed gratitude on being recognised by Prime Minister Narendra Modi as the first Japanese bank to open a branch in GIFT City. "We are f

Let customers enjoy freedom from banks' tyranny

The branch managers have come out of their glass cabins and the sellers' market has transformed into a buyers' market. But, there is no end to the harassment of customers

Bank Locker Rules: Here's everything you should know to protect your assets

The Reserve Bank of India regularly updates rules for improving the safety and convenience of the bank customers. These are the Bank locker rules that everyone should know.

Reserve Bank directs loan recovery agents not to intimidate borrowers

While issuing instructions to regulated entities including banks, NBFCs and ARCs, RBI said it has observed that recovery agents are deviating from its instructions with regard to recovery of loans

A Billion Accounts are now on AA.Now what?

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Unity Small Finance Bank appoints Inderjit Camotra as MD and CEO

Unity Small Finance Bank is a new age, digital first bank which was recently elevated to a 'Scheduled Bank' and was included in the Second Schedule of the RBI Act.

Loan EMIs to rise as RBI increases repo rate by 50 bps to curb inflation

Several banks have already raised their borrowing rates and some will again increase their rates after this hike by the central bank.

DBS Bank India reports profit after tax of Rs 167 crore in 2021-22

The bank, which is a wholly-owned subsidiary of DBS Bank, acknowledged the lagged effects of its amalgamation with Lakshmi Vilas Bank on its net profit

Banks write off loans worth Rs 10 trn in last 5 years: MoS Finance

During 2021-22, the write-off amount came down to Rs 1,57,096 crore compared to Rs 2,02,781 crore in the previous year, Minister of State for Finance Bhagwat K Karad said

Bank, auto, FMCG: Sectors on FPIs' radar as they turn focus back on India

The swing in favour of Indian equities comes after a brutal sell-off where FPIs sold equities worth Rs 2.56 trillion since October 2021

Competition may push deposit rates up over 100 bps by December: Bankers

There is, however, room for the deposit rates to rise, with the average one-year deposit rate for banks standing at 5.41 per cent