Page 7 - Federal Bank

Bajaj Finance raises interest on FDs of up to Rs 5 crore by 25 bps

Revised rates applicable on fresh deposits and renewals

Federal Bank ties up with JCB India to finance heavy equipment buyers

Federal Bank on Friday said it has tied up with JCB India to finance the prospective buyers of heavy construction equipment and boost its loan portfolio. The private sector lender said it has inked a memorandum of understanding (MOU) with JCB India, a leading manufacturer of earthmoving and construction equipment. This arrangement will boost the financing options for JCB's customers in India, Federal Bank said in a release. Under the arrangement, Federal Bank is the preferred finance partner of the construction equipment manufacturer, where JCB's customers can avail loans from the lender at competitive interest rates. With the government's focus on infrastructure development continuing to remain strong, there will be various opportunities to create synergies between the teams from JCB India and Federal Bank, Deepak Shetty, CEO and Managing Director of JCB India, said. "Importantly, it will give greater financing options to our customers while purchasing JCB machines both in urban

Federal Bank posts highest-ever quarterly profit; up 53% over last year

NII up 19.1% to Rs 1,762 crore, other income rises 24% to Rs 610 crore

Federal Bank zooms 6%; hits new peak on highest ever quarterly profit in Q2

In Q2FY23, Federal Bank also recorded its highest ever net interest income of Rs 1,762 crore, which was up 19 per cent YoY

Gold price dips as US dollar, yields rise after Powell's comments

Fed fund futures are now pricing in a 85% chance of a 75-basis-point rate hike by the Fed at its Sept. 20-21 policy meeting

Federal Bank pares gains as lender denies merger report; rises 9% intra-day

The news report of a merger between Federal Bank and another private bank is speculative in nature, the bank said

Credit to industry hits 8-year high as corporations opt for bank funding

According to the latest Reserve Bank of India (RBI) data, loans to micro, small, medium, and large industries rose to Rs 31.82 trillion as of July end, up 10.5 per cent year-on-year (YoY).

Yen hits 24-year low, 140 level beckons as Fed hike bets buoy dollar

Markets have priced in about a 40% chance the ECB will increase rates by 75 basis points next week, even as risks of a painful recession rise along with gas prices

Asia continues global stock selloff as Fed tightening fears flare

Japan's Nikkei sagged 0.6%, while Australia's share benchmark slid 0.4% and South Korea's Kospi lost 0.5%

Dollar hits 20-year high as Fed flags higher rates for longer period

The U.S dollar surged to a 20-year high against a basket of currencies on Monday after Federal Reserve Chair Jerome Powell signaled interest rates would be kept higher for longer

Oil prices edge up on signs of improving demand, market awaits Fed's clue

"Nevertheless, signs of strong demand are emerging," ANZ Research analysts said

Gold hits one-week high as dollar dips; Jackson Hole symposium in focus

Rate hikes increase the opportunity cost of holding bullion, which pays no interest, while boosting the greenback

RBL, IDBI Bank surge up to 10%; Karur Vysya, Federal Bank hit 52-week highs

Union Bank of India, Bank of India, Canara Bank, Punjab National Bank, Indian Overseas Bank, Uco Bank, Central Bank of India, and Bank of Baroda from the PSUpack were up 2-5%

Federal Bank donates 1.55 acres of land to Kerala's Life Mission project

The Federal Bank, as part of its celebrations of the 75th year of the country's independence, has gifted 1.55 acres of land for the construction of houses for the homeless poor. The property was handed over to the Left government in the state for their flagship "Life Mission" project, which envisages to provide free housing for homeless and landless in the state. The documents of the 1.55 acre property in Muvattupuzha in Ernakulam district, which was owned by the Federal Bank, were handed over to Chief Minister Pinarayi Vijayan by C Balagopal, Chairman and Independent Director of the Bank the other day. This noble deed by the bank is expected to benefit at least 40 families of the southern state, the bank said in a statement. M V Govindan Master, Minister for Local Self Governments, Rajanarayanan N, Senior Vice- President and Head Loan Collection & Recovery Department of the Bank, Renji Alex, Vice-President & Zonal Head - Thiruvananthapuram, Anoop T, Vice-President & ...

Federal Bank becomes 1st to list Payment Gateway on new tax platform

Kerala-based Federal Bank has become the first bank to list its Payment Gateway platform on the TIN 2.0 platform of the Income Tax Department. The TIN 2.0 platform went live on July 1 this year and the "Payment Gateway" has been enabled, providing one more payment option to taxpayers, who can now make their payments with ease, using modes such as Credit/Debit Card, UPI, NEFT/RTGS and Internet Banking. Harsh Dugar, Group President & Country Head Wholesale Banking, Federal Bank, said Federal Bank is actively using digital as a key enabler of superior experience and transaction convenience. "With an increasing number of digital first folks joining the workforce and scaling up of digital transactions across the ecosystem, we are sure that taxpayers will appreciate the convenience of tax payments brought forth by the Federal Bank by easing the process and providing multiple options," Dugar said in a statement.

Infosys Finacle inducted in IFSCA regulatory plan for blockchain finance

Six leading banks are collaborating with trade finance solution for short-term credit, import payments

IndusInd, AU SFB: Mid-cap banks roar as Nifty Bank fires above 36,000

Barring Federal Bank, other mid-cap banks like RBL Bank, IndusInd Bank, AU Small Finance Bank and IDFC First Bank are yet to conquer their crucial resistances

This private sector bank from Jhunjhunwala's portfolio is up 29% in 1-month

Shares of Federal Bank hit a three-year high at Rs 109.40, and have gained 12 per cent in the last four trading sessions on the back of healthy Q1 performance.

Federal Bank's Q1 net jumps 64% to Rs 601 cr in best-ever quarterly show

Stronger bottomline supported by lower provisions and healthy NII

RBI fines Federal Bank Rs 5.7 cr for flouting insurance broking norms

Banking regulator imposes fine of Rs 70 lakh on Bank of India for non-compliance with KYC norms