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Banking & Finance
Sebi will create performance validation agency to verify better returns.
Mumbai: As part of the broader efforts of Securities and Exchange Board of India (SEBI) to facilitate and streamline the registration and operational processes for intermediaries, the regulator will soon have a performance validation agency…
Exchanges need to disclose shareholding patterns: Sebi
MUMBAI: Markets regulator Sebi has amended the rules requiring stock exchanges and clearing corporations to disclose their shareholding patterns on their websites on a quarterly basis, in line with the listing obligations (LODR) regulations…
Central Bank’s new framework can shave 10-30 percentage points off bank LCRs
MUMBAI: The proposed higher mark-ups that the Reserve Bank is seeking from banks in the draft liquidity coverage ratio (LCR) framework will impact the LCRs by 10-30 percentage points (pps), thus reducing the cushion now available with banks…
Digital economy poised to be 20% of GDP by 2026
India's cost per gigabyte of data consumed is the lowest globally at an average of Rs 13.32 ($0.16) per GB with one of the highest mobile data consumption in the world, averaging a per-user per-month consumption of 24.1 GB in 2023.
Manoj Mittal assumes charge at Sidbi as CMD
MUMBAI: Manoj Mittal has assumed the office as the chairman and managing director (CMD) of the small businesses-focused developmental lender Small Industries Development Bank of India (Sidbi).
Mittal was appointed by the government after…
REC declares Highest Ever QR1 Profits at Rs. 3442 Cr and offers Interim Div Rs. 3.50 per share
Aided by growth in profits, the company's Net Worth has grown to ₹ 72,351 crores as on 30th June 2024, registering an increase of 19% YoY.
Canara Bank net profit rises 10.5% to Rs 3,905 crore
Mumbai: State-run Canara Bank has reported a 10.5 percent on-year rise in net profit for the June quarter at Rs 3,905.3 crore on improved asset quality with lower bad loans and fresh slippages.
The Bengaluru-based lender said Thursday…
RBI makes KYC more stringent for domestic money transfers
New Delhi: The Reserve Bank has revised the extant regulatory framework guiding domestic money transfer services by making the know your customer (KYC) record requirements stringent after a review of the current framework guiding various…
Federal Bank logs record high net income at Rs 1,010 crore
MUMBAI: The Kochi-based old generation private sector lender Federal Bank has reported the highest-ever quarterly net income at Rs 1,010 crore for the June quarter, logging in an 18.25 percent annualised growth, boosted by all-round…
Bankers hail Budget, say it’s pro-growth
New Delhi: Though there were no announcements benefiting the financial sector directly except those on home loans, bankers led by State Bank chairman Dinesh Khara and IBA chairman MV Rao have hailed the Union Budget saying the document…
IOB net profit jumps over 26% on NPA plunge
MUMBAI: A significant improvement in slippages and asset quality coupled with a spike in non-interest income have helped the state-run Indian Overseas Bank (IOB) to book a 26.60 percent on-year growth in net profit at Rs 633 crore in the…
Kotak Bank profit up 81% to Rs 6,250 crore
MUMBAI: A stake sale in its general insurance subsidiary has boosted standalone net income of the fourth largest private sector lender, Kotak Mahindra Bank, by 81% to Rs 6,250 crore, of which as much as Rs 3,012 crore came in as the…
HDFC Bank’s net income has increased by more than 30% since its return.
Mumbai: The second-largest lender, HDFC Bank, reported a strong 35.33 percent increase in net income at Rs 16,174.75 crore for the June quarter. Although the numbers are not comparable because the merger with its parent company only went…
Reserve Bank raises concern over falling deposit mobilisation
MUMBAI: Warning banks and non-banks in particular and all lenders in general again over the falling deposit mobilisation and increasing credit offtake, leading to asset liability mismatches, Governor Shaktikanta Das has said the Reserve…
South Indian Bank net income jumps 45% to Rs 294 crore
The Thrissur, Kerala-based old generation private sector lender South Indian Bank has reported 45.4 percent on-year growth in net income at Rs 294 crore for the June quarter boosted by improved asset quality and higher income from rising…
Karur Vysya Bank improved performance, net income up 28%
MUMBAI: Tamil Nadu-based old-generation, mid-sized private sector lender Karur Vysya Bank has reported a 28 per cent on-year growth in net income at Rs 459 crore for the June quarter.
The better performance is driven by robust fee and…
No takers for 18 lakh jobs in financial services sector: FBSB India CEO
At present, there are 2,731 CFP professionals in India against 2. 23 lakh worldwide. By 2030, there will be around 10,000 CFPs in India as against the requirement of 1,00,000 due to huge demand, said FPSB India CEO Krishan Mishra.
RBI issues matter circular, includes SC directions
In an order, the Supreme Court upheld the petition that sought natural justice and directed the banks to give time and offer detailed explanation the borrower, and also asked the Reserve Bank to issue new directions towards the same.
India to see retail digital payments to double to USD 7 tn by 2030: Report
The research was based on an online survey of over 6,000 consumers along with more than 1,000 merchants through offline and online methods across 120 cities.
Over 140 million customers to face disruptions as HDFC, Axis Bank upgrade systems
During the 13.5-hour upgrade HDFC Bank customers will only be able to use their debit cards and credit cards for online transactions.