Changes in reward point accrual and redemption coming as well after bank issues revised cardholder agreement
Shares of SBI closed at Rs 790 on the BSE while Kotak Mahindra Bank's shares closed at Rs 2,085.05
On a standalone basis, the bank's net profit was down 14% Y-o-Y in Q4
Lenders updating schemes after Reserve Bank of India cut repo rate to 6% earlier this month
New charges apply after free monthly transaction limits, says lender
Banks are well positioned to outperform, supported by robust balance sheets and the ability to navigate macro economic uncertainties, said a report from Motilal Oswal Securities
Business sentiment has been impacted by global uncertainties and a minor macro slowdown in India
Lathia's appointment is part of Kotak's strategic efforts to strengthen its leadership and drive growth through innovation, the bank said in a statement
The post fell vacant following resignation of Milind Nagnur, effective February 15, who was the chief operating officer and chief technology officer, due to personal reasons
Domestic competitiveness will 'ultimately' determine progress in that task, he says
UPL stock has recently given a breakout from a long consolidation phase and the declines post the breakout has seen strong buying interest
He emphasized the need for India to improve productivity, avoid excessive protectionism and increase manufacturing as a percentage of GDP
The bank's net interest margin (NIM) has seen a decline of over 35 basis points (bps) since the restrictions were imposed by the regulator in April 2024
In April last year, the RBI placed restrictions on the bank as it failed to plug gaps in its information technology (IT) systems
Open to buy loan pools that meet risk-adjusted return norms
Net interest income grew by 10 per cent Y-o-Y to Rs 7,196 crore, while fees and services for Q3FY25 also grew 10 per cent to 2,362 crore
HDFC Bank and Kotak Mahindra Bank are expected to report increases in bad loans, which should lead to higher provisions and weigh on quarterly profit
Finance minister Nirmala Sitharaman is the chairperson of the six member council and secretaries of department of economic affairs and financial services are the other members
Bank stocks today: Jefferies has retained its 'Buy' ratings on Axis Bank, ICICI Bank, HDFC Bank, and SBI, It has upgraded Kotak Bank and downgraded Bank of Baroda
In his resignation letter, Nagnur stated that he intends to relocate to the United States to care for family members