IndusInd Bank Wednesday reported 62 per cent fall in net profit at Rs 360 crore for the March quarter 2018-19 due to higher provisioning for loans extended to IL&FS. Its profit in the year-ago period stood at Rs 953 crore.The private sector lender has a total exposure of...
The Monetary Policy Committee’s (MPC) accommodative policy stance amid a benign growth-inflation outlook has strengthened our case for another 25 bps cut in August. Rate cuts beyond August would, however, hinge on any downward surprises to the RBI’s growth-inflation trajectory. Our inflation trajectory in 2HFY20 remains slightly higher...
State Bank of India (SBI) alone had an unclaimed deposit of Rs 2,156.33 crore at the end of 2018, she said.Unclaimed deposits in the banking system have witnessed a jump of 26.8 per cent to Rs 14,578 crore in 2018, Parliament was informed on Monday. The unclaimed deposits...
Allahabad Bank on Friday reported widening of its net loss to Rs 3,834.07 crore for the quarter ended March 31, 2019 against a net loss of Rs 3,509.63 crore for the same period a year ago, due to a rise in provisions to cover bad loans.The Kolkata-headquartered lender,...
Messaging platform WhatsApp Tuesday said it has set up a system in India that stores payments-related data locally. Messaging platform WhatsApp Tuesday said it has set up a system in India that stores payments-related data locally in the country to comply with RBI regulations. The Reserve Bank of India...
WASHINGTON ― With support from Senate Democrats, Congress is on track to pass a bill that would enrich banks but slightly raise the odds of a financial crisis like the one that tanked the economy 10 years ago. Seventeen members of the Democratic caucus joined nearly all Republican senators...
Federal Bank gets RBI nod to sell 45% stake in NBFC arm to True North Federal Bank Monday said the Reserve Bank has approved proposal to sell up to 45 per cent stake in NBFC arm Fedfina to private equity firm True North. Earlier in May, the board of...
Banks’ net interest income to rise over 20% y-o-y in Q4: AnalystsReceding pressure from slippages is likely to result in an improvement in banks’ earnings in the quarter ended March, with net interest income (NII) rising by over 20% year-on-year (y-o-y), analysts said. In a recent note, analysts...
The merger of Dena Bank and Vijaya Bank with BoB would be effective from April 1.The government has decided to infuse Rs 5,042 crore into state-owned Bank of Baroda (BoB) ahead of merger of two other public sector lenders Dena Bank and Vijaya Bank with BoB. The merger...