Page 12 - Indian Banking Sector

Technical snag hits UCO Bank's IMPS; impact yet to be ascertained

As a precautionary measure the bank has made the IMPS channel offline

Fintech lending set to surpass traditional by 2030 for mid-small income

India's fintech industry has been growing over the past few years on the back of the emergence of several fintech start-ups

Majority of CISOs in financial services sector experience gaps: Report

The report said that 76 per cent of CISOs polled witnessed the aforementioned challenge

Uco Bank Q2FY24 results: Net profit declines 20.4% to Rs 402 crore

The operating expenses, including staff expenses, grew by 16.3 per cent Y-o-Y to Rs 1,582 crore in Q2FY24

Unity Small Finance Bank Q2 results: Net profit jumps 155% to Rs 138 cr

Unity Small Finance Bank on Friday reported a net profit of Rs 137.73 crore in the quarter ending September 2023, up 155 per cent from Rs 53.97 crore in the year-ago period. Unity Small Finance Bank Limited is a scheduled commercial bank, promoted by Centrum Financial Services Ltd. The total income rose to Rs 360.5 crore from Rs 210.46 crore in the July-September quarter of 2022-23, the bank said in a release. Its gross non performing assets (NPA) was 5.5 per cent in the September quarter of the current fiscal, as against 56.29 per cent in the year-ago period. Similarly, net NPA fell to 0.43 per cent from 5.95 per cent in the September quarter of the last fiscal. The bank also reported that its net income rose by 115 per cent in the first half of this fiscal to Rs 515 crore on account of increased outreach to customers across products and geographies. At end-September, Unity Bank had 137 branches. The bank is focused to grow its retail presence during the second half of 2023-24

HDFC Bank revises Regalia CC lounge access program, to depend on spending

On reaching the quarterly milestone, the customers are eligible for just two complimentary lounge access vouchers. Post which, the access will depend on the credit card spending of the cardholders

Tech is critical, but banks won't like to be tech companies: Citi India CEO

It is demeaning to compare what banks do and what technology companies do; banks build relationship of trust with customers and use technology as an enabler, says Ashu Khullar, CEO Citibank India

BS BFSI Summit: Savers are slowly understanding MFs, says K V Kamath

'Fintechs using new and cost-effective technology, which incumbent banks are unable to compete with'

Never seen this kind of alignment in banks: KV Kamath at the BS BFSI Summit

Kamath said that he has 'no sympathies' for organisations complaining of not having enough people in a country like India

HDFC Bank 2.0 under Sashidhar Jagdishan: Steady beginning, miles to go

HDFC Bank, under Jagdishan, took the challenge head on and went on war footing to plug the gaps

Tamilnad Mercantile Bank Q2 net profit increases 5% to Rs 274 crore

The bank's total income during the period was up by 16 per cent, from Rs 1,141 crore in September 2022-23 to Rs 1,365 crore in the second quarter of FY24

Adding more bite: A case for tougher RBI penalties for violations

The amounts lenders are fined for violations are too little and may not deter them

South Indian Bank Q2 results: Net profit rises 23% to Rs 275 crore

The bank's net interest income during the period went up from Rs 726 crore to Rs 830 crore, registering a growth of 14.3 per cent on a year-on-year basis

IndusInd Bank Q2 results: Net profit up 22% on NII growth, low provision

Yield on assets for the quarter stood at 9.69 per cent, compared to 8.65 per cent in the same quarter of the previous year

RBI starts pilot programme for wholesale digital rupee in call money market

More use cases on to be tested; Plan to test the entire wholesale segment

Banks turning to SDF over liquidity mismatch and 24x7 RTGS facility

Banks earn less for keeping money in SDF, at 6.25 per cent, while call money rates hover around 6.70 per cent

Banks likely to report healthy profits in Q2 on high credit growth

Sequentially rising fund cost put pressure on margins

Banks to report healthy bottom line on high credit growth, low credit costs

NII, a key earning source for lenders, may show higher growth in private banks (24.4 per cent Y-o-Y) compared to public sector banks (12.1 per cent Y-o-Y) in Q2FY24

It's time RBI became data-dependent: PNB Gilts MD & CEO Vikas Goel

'A lot would depend on the RBI and liquidity. There is a glide path for yields now'

IndusInd Bank launches digital banking app, aims 10 mn customers in 3 years

The app boasts a transparent rewards programme, wherein users can select their favourite brands from leading e-commerce platforms