Insolvency and bankruptcy code: The new route to M&A
For instance, Essar Steel India Limited was acquired by Arcelor Mittal India Pvt. Ltd. for Rs. 41,018 crores as against...
PERSONAL FINANCE
Don’t forget mandatory disclosures while filing your income-tax returns
Albert Einstein once said, "The hardest thing in the world to understand is the income tax." Thankfully, with the...
Income Tax refunds worth Rs 43,991 crore issued till July 26
The Income Tax Department on Friday said it has issued refunds worth over Rs 43,991 crore till July...
Union Bank of India net zooms 254% on higher NII, other income
The lender has strengthened its balance sheet by increasing provision coverage ratio (PCR) by 156 bps to 81.43% in June...
IFC investment to raise green portfolio financing: Federal Bank
In addition, the investment also marks IFC’s first in India aligned to the greening equity approach, which will enable the...
Over 2.58 mn ITRs filed, 0.79 mn e-PANs allocated at new IT e-filing portal
The new Income Tax Department website, which has been marred by glitches, has successfully received over 25 lakh...
Sundaram Home Finance looks to raise Rs 2,500 crore
On the outlook, Lakshminarayanan said while the longer-term outlook remains strong with the demand for housing being expected to grow...
Dhanlaxmi Bank Q1 profit rises 11.5%
The Thrissur-based lender had reported a net profit of Rs 6.09 crore in Q1 of FY21 and Rs 5.28 crore...
IDBI Bank net up fourfold on recovery of Kingfisher dues, higher other income
The net interest margin (NIM) of the lender improved 125 basis points (bps) YoY to 4.06%, but declined 108 bps,...
Issues with new income tax portal to be resolved soon, says FM
With glitches still haunting the new income tax portal, Finance Minister Nirmala Sitharaman on Wednesday said she wished...
Equitas board approves merger of holding company with bank
Both EHL and Equitas Small Finance Bank are listed on the stock exchanges and EHL holds a 81.98 % stake...
IndusInd Bank net profit doubles on lower provisions
The capital adequacy ratio (CAR) stood at 17.57% during the quarter under review, compared to 15.16% as on June 30,...
Bank Holidays August 2021: Banks to remain shut for up to 15 days in August; check full list here
Banks in most states will observe a holiday on 19 August 2021, on account of Muharram.Bank Holidays in August 2021...
Q1 Performance: ICICI Bank net profit surges 78% to Rs 4,616 crore
The bank claims to have made higher than required provisioning due to change in policy for non-performing advances.Private lender ICICI...
No lumpy slippage gives us confidence: Shyam Srinivasan, MD & CEO, Federal Bank
Our provisioning policy continues to be very conservative so that the balance sheet remains strong.Federal Bank reported an 8.3% year-on-year...
Yes Bank June quarter net jumps 360% on lower provisions, higher other income
Provisioning declined 41% year on year (YoY) and 88% sequentially to Rs 644 crore. The net interest income (NII) fell...
Federal Bank Q1 net falls 8.3% on higher provisioning
Provisions and contingencies stood higher at Rs 641.83 crore, against Rs 394.62 crore in the year-ago period. The provision coverage...
Bank of Maharashtra net jumps 106% in Q1
The bank’s gross NPA declined to 6.35% as on June 2021, against 10.93 % last year.Bank of Maharashtra (BoM) on...
CSB Bank Q1 net rises 14%; asset quality deteriorates
Net interest income of the lender is seen higher by 44.5% y-o-y at Rs 267.8 crore for Q1. (Picture courtesy:...
Central Bank Digital Currency: RBI evaluating running pilots for digital currency
“Introduction of CBDC has the potential to provide significant benefits, such as reduced dependency on cash, higher seigniorage due to...
Bajaj Finserv will enter asset management business: Sanjiv Bajaj
Bajaj Finserv reported a 31.5% year-on-year drop in consolidated profit after tax for Q1FY22 to Rs 833 crore while total...
HDFC AGM| Home loan demand continues to be strong: Deepak Parekh
Against the backdrop of the pandemic, Parekh said HDFC had articulated that there are three key monitorables – liquidity, growth...
District co-operative banks’ bad loan ratio hits 12.6%: FM Nirmala Sitharaman
In contrast, the bad loan ratio of scheduled commercial banks stood at 7.5% as of March 2021, having eased from...
Bank holiday on Eid al-Adha 2021: Banks in these cities will remain functional on Bakra Eid this Wednesday
Banks will remain shut in Jammu and Srinagar on 22 July as well to observe Eid-Ul-Azha. Image: ReutersBakri Eid Bank...
Indian Bank Q1 net triples to Rs 1,182 crore
The bank has made improvement on asset quality by bringing down gross non-performing assets (GNPA) by 121 bps to 9.69%...
HDFC Life Q1 net down 33%
In comparison to Q1FY21, the company, a joint venture between HDFC Ltd. and Standard Life Aberdeen, clocked higher renewal collections,...
Private life insurers operate in challenging environment, says Deepak S Parekh
Parekh said life insurers must be held accountable only for the expense management limit by the regulator, Irdai.HDFC Life insurance...
Allow life insurers to sell pension-based health policies: HDFC Life chief
Regulators in India should allow the life insurance firms to sell pension and indemnity based health insurance policies,...
Cooperation Ministry: Cooperatives’ financial heft seen behind Centre’s bid for greater control
There are about 8.5 lakh co-operatives in the country with roughly 38 crore members. Of these, 1,539 are urban cooperative...
Digital payments are the new normal: UPI-based payment apps, digital wallets now eye smaller towns
With consumers increasingly opting for digital transactions over cash ones, and with the simultaneous growth in e-commerce and internet penetration...
Trying to grow retail lending; keen on shifting to more longer-term borrowing: Jairam Sridharan, CEO, Piramal Retail Finance
Jairam Sridharan, CEO, Piramal Retail FinanceBy Ankur MishraPiramal Capital and Housing Finance (PCHFL) wants to have adequate buffers in terms...
PNB MetLife announces Rs 532 crore bonus for policyholders in FY21
PNB MetLife India Insurance Company has announced a bonus of Rs 532 crore for the eligible policyholders of...
Authum Investment likely winner for Reliance Commercial Finance
After the resolution of RCF, parent firm Reliance Capital may reduce total debt of Rs 9,000 crore from its books,...
Bandhan Bank’s advances grow 8% y-o-y in Q1
Total deposit grew 28% y-o-y at Rs 77,336 crore, while it witnessed a de-growth of 1% q-o-q from Rs 77,...
RBI announces G-SAP 2.0 auction; includes illiquid paper
The total trades took place in an announced bonds on Thursday is just 10% of the total trades of most...
Creating new money has downsides: RBI governor Shaktikanta Das
He strongly rebutted the notion that a sharper and sustained focus on the yield curve might be eating away at...
More Indians trust banks with their personal data than US, UK and Australia: Report
According to the survey data, 68 per cent Indians surveyed said that they trust their banks with personal data.Data privacy...
Equitas seeks to merge holding company with small finance bank
Both the promoter entity EHL and Equitas Small Finance Bank are listed on the stock exchanges and EHL holds a...
RBI penalises SBI, 13 other banks for non-adherence to NBFC lending rules
The banks were also called out on not adhering to restrictions and provisions on loans as well as advances and...
Equitas SFB’s collection efficiency improves to 83.49% in June
In April, the bank had clocked a billing efficiency of 84.68%.Equitas Small Finance Bank (ESFB) on Wednesday said its collection...
Bajaj Finance sees sharp rise in new loans in June quarter
Bajaj Finance's consolidated liquidity surplus stood at approximately Rs 10,900 crore. The company said it remained well capitalised with capital...
Paytm launches small-ticket instant loans Postpaid Mini to help users manage monthly expenses
According to a source, Paytm now has no Chinese national on its board. US citizen Douglas Feagin has joined the...
IIFL Home Finance aims to raise Rs 7,000 crore in FY22
The net interest income saw a 15% y-o-y growth to Rs 574 crore. Total income increased 42% during the March...
Federal Bank’s gross advances grow 8% in Q1
CASA is seen at Rs 58,959 crore during the first quarter, an y-o-y increase of 19%. The CASA ratio is...
ULIPs gain traction as preferred insurance schemes amid pandemic: Survey
Affinity of investors to park money in unit-linked insurance plans (ULIPs) has gone up during the coronavirus pandemic,...
Stress report: Loan loss ratios could rise but banks have enough capital, says RBI
Among the sectors that have been badly hit by the lockdowns and curfews are retail trade, travel, hospitality, aviation and...
Bank Holidays July 2021: Banks to remain shut for up to 15 days next month; check full list here
On July 21, banks in most of the states will observe a holiday on account of Bakri Id.Bank Holidays in...
HDFC Bank hopes to return with a ‘bang’ and regain lost market share
Laying out future plans, once the embargo is lifted, he said the bank had a much more wholesome strategy.HDFC Bank...
Interview| Guidance is for 15% growth, will surely achieve it: George Alexander Muthoot
George Alexander Muthoot, MD, Muthoot FinanceNBFC Muthoot Finance expects the business to improve in the second quarter after a muted...
MFIs welcome Rs 7,500-crore credit guarantee scheme
MFIN CEO and director Alok Misra said the credit guarantee scheme to MFIs would play a catalytic role in facilitating...
Co-operative banks: RBI issues guidelines to manage risk arising from outsourcing
The indicative key risks in outsourcing that need to be evaluated include strategic, reputation, compliance and operational risks, among others.The...
Curbs on PMC Bank to continue till December, says RBI
The cash withdrawals were initially capped at Rs 1,000 per account for six months, but gradually relaxed to Rs 1...
Will stay focused on recovering stressed assets in FY22: SBI chairman Dinesh Kumar Khara
Khara also highlighted that bank is comfortably placed in terms of growth capital. “The opportunities for lending in promising sectors...
All PSBs, REC to buy stakes in bad bank; Indian Banks’ Association files application for incorporation of NARCL
A top banker had last week said the cost to the exchequer won’t exceed Rs 30,600 crore, as estimated by...
