Browsing Category
Banking & Finance
Power Sector Maharatna PFC registers highest ever annual PAT at Rs. 21,179 Cr.
New Delhi: Power Sector PSU Power Finance has declared highest ever Profit after Tax with 13% increase in the FY'23 over FY'22. Consolidated net worth of the company rose by 16% to reach Rs. 1,11,981 Crores in the year, over Rs. 96,275 in…
PhonePe raises USD 100 million from private equity firm
PhonePe started its fundraising with a target of raising up to $1 billion in capital, post its domicile shift to India. Founded in December 2015, it has over 45 crore registered users.
NPCI plans more tie-ups to strengthen global acceptability of RuPay debit cards
Currently, RuPay cards are accepted at the points of sale (PoS) machine powered by Discover of the US, Diners Club, JCB of Japan, Pulse and Union Pay of China.
Bank of India’s net profit doubles to Rs 1,350 crores
The company’s net interest income increased by 37.77% from Rs 3,987 crore in the year-ago quarter to Rs 5,493 crore.
Bank of Maharashtra’s quarterly profit jumps to Rs 840 cr; lender to raise Rs 1,000 cr in June…
Interest income grew to Rs 4,495 crore during the period under review, from Rs 3,426 crore in the corresponding quarter a year ago.
RBI gives HDFC Bank partial relief
HDFC Bank said, in a regulatory filing on Friday, that it received a response from RBI on Thursday and that there are a few pending issues.
RBI’s norms on outsourcing IT services aimed at improving corporate governance, say experts
These norms came in the backdrop of the current practice of regulated entities (REs) of extensively leveraging IT and IT-enabled services (ITeS) to support their business models.
Core performance drives HDFC Bank to post 20 per cent jump in Q4 net profit
For the entire fiscal, it reported a 20.9 per cent increase in the net profit at Rs 45,997.1 crore.
Bond market expects longer pause in rate hike by RBI
The yield movements in the bond market due to the RBI’s decision to pause reflects the optimism of market participants.
Biggest Swiss Bank UBS Offers $1 Billion To Buy Credit Suisse
Zurich: UBS Group AG is offering to buy Credit Suisse Group AG for as much as $1 billion, a deal that the troubled Swiss firm is pushing back on with backing from its biggest shareholder.
Credit Suisse, which ended Friday with a…
PFC Chairman Dhillon gets CMD Leadership award
New Delhi: Mr.Ravinder Singh Dhillon, Chairman & Managing Director of Power Finance Corporation Ltd (PFC), a Maharatna Company and India's leading NBFC in the power sector, was conferred with the prestigious “CMD Leadership Award…
Fintech UPI PhonePe raises $350 mn fund from General Atlantic
Hyderabad: India's well-known financial transaction platform, PhonePe, today announced that it has raised $350 million in funding from General Atlantic, a leading global growth equity firm, at a pre-money valuation of $12 billion.
The…
KreditBee closes second tranche of its Series D fundraise
Bengaluru: KreditBee, one of India’s leading fintech platforms, in an extension of its Series D round raised an additional USD 100 million in primary funding from Advent International. Advent is one of the world’s largest and most…
Govt to issue green bonds of Rs 16,000 Cr in two tranches
New Delhi: The government on Friday said that Sovereign Green Bonds (SGrBs) would be issued in two tranches of Rs 8,000 crore each on January 25 and February 9, 2023.
"As announced in the Union Budget 2022-23, the Government of India, as…
Interest rates on Deposit schemes raised by GOI effective Jan. 01
New Delhi: The government today raised interest rates on most post office savings schemes that do not get income tax benefits, in line with the firming of interest rates in the economy.
While the interest rate for popular PPF (Public…
Hinduja Leyland Finance rating upgraded to AA by CARE
Chennai: Hinduja Leyland Finance (HLF), the non-banking financier and a subsidiary of CV maker Ashok Leyland, today announced its revision in credit ratings from CARE.
Care Ratings Ltd has upgraded the long-term rating of HLF to “CARE AA…
Shriram Finance to foray into supply chain funding and educational loan by next year
Hyderabad: Shriram Finance Ltd. (Shriram Finance), India’s largest retail NBFC, on Friday announced it is planning to make a foray into new segments such as supply chain financing and education loan by next year.
Shriram Transport…