BUSINESS
ICICI Bank Q1 results: Top four highlights from the earnings report
Net interest income (NII) of the lender increased by 38 percent year-on-year to Rs 18,227 crore in Q1FY24 from Rs 13,210 crore in the corresponding quarter last year
BUSINESS
RBL Bank weighs bond issue to raise up to Rs 3,000 crore
The board will hold a meeting, the date for which is yet to be announced, to take up the proposal, RBL Bank, which reported a 43% YoY jump in net profit in the June quarter, said
BUSINESS
Growth of life insurance sector remains intact despite headwinds: Deepak Parekh
The insurance space has a lot of opportunity, Parekh said, due to longer life expectancy which demands for retirement planning.
BUSINESS
IndusInd Bank plans to partner with real estate companies to boost home loan book: MD & CEO
The bank currently has a home loan book of Rs 650 crore and plans to increase it to Rs 15,000 crore in the next three years, MD and CEO Sumant Kathpalia said.
BUSINESS
Banks’ aggressive lending to farm sector under El Nino cloud; experts warn of rise in NPAs
Some private sector banks have posted double-digit growth in their agriculture portfolios in Q1.
BUSINESS
HDFC Bank Q1 results: Post-merger, retail loans constitute 57% of total book, says CFO
Going ahead, the bank sees faster growth in retail advances compared to wholesale advances, HDFC Bank's Chief Financial Officer Srinivasan Vaidyanathan said
BUSINESS
HDFC Bank sees employee attrition of around 30% in fiscal year 2023, says CFO
The bank witnessed maximum attrition of 40-50 percent at the entry-level positions, said Chief Financial Officer of HDFC Bank Srinivasan Vaidyanathan
BUSINESS
Banks smell potential in startup pie, explore fintech partnerships and co-lending opportunities
Lenders say the digital space is thriving and offers an opportunity for growth.
BUSINESS
Banks may report strong deposit growth, stable asset quality in April-June quarter: Analysts
However, banks are expected to give a negative outlook on the net interest margin in the near term.
BUSINESS
Fintech regulations: Industry players pitch for simpler KYC norms, access to cheaper capital
The pitches stem from RBI deputy governor T Rabi Sankar’s recent remarks that the central bank will come out with regulations for the fintech sector soon.
BUSINESS
CBDC can be explored for settlement in primary G-Sec market: SBI Chairman
Currently, the wholesale pilot of CBDC can only be used for settlements in the secondary market.
BUSINESS
Exclusive | Karnataka Bank to become new-age digital bank, push co-lending, says MD CEO
The bank is also aiming to broaden its footprint in other states and strengthen its customer base in Karnataka, says Srikrishnan H
BUSINESS
Concerned about unbacked cryptocurrencies, not people trading crypto: RBI Deputy T Rabi Shankar
Other than this, Shankar also highlighted that stablecoins pegged to other currencies in the emerging market economies post several threats.
BUSINESS
Why Rajnish Kumar believes banks will be like fintechs and fintechs like banks?
"Over some time, banks will become like fintechs and fintechs will become like banks," Kumar said.
BUSINESS
Fintechs rewriting the rule book, banks will compete and co-exist, says Rajnish Kumar
Kumar said that legacy institutions like banks have advantages over fintechs but at the same time, in some spaces, fintechs lead.
BUSINESS
Change is happening in banks with innovation from startups and fintech: IDFC First Bank CEO V Vaidyanathan
Vaidyanathan said that innovation by startups and fintechs is leading a change in the Indian banking sector.
BUSINESS
RBI‘s circular on issuance of cards a win for customers, say experts
RBI in the draft circular said that card issuers shall issue cards across more than one card network and they should provide an option to the customers to choose any one among the multiple card networks.
BUSINESS
Federal Bank to soon come up with a policy on green deposits
The decision comes after the RBI in April 2023 brought in a framework for green deposits for banks under which they should have a board-approved policy for mobilising and allocating funding to projects under green deposits.
BUSINESS
HDFC-HDFC Bank merger: As an era comes to end, senior HDFC employees walk down memory lane
Most HDFC employees recalled the struggles of selling home loans in the early days when the product wasn't popular. In fact, Chairman Deepak Parekh also agreed and narrated a story: “Our first home loan was of Rs 30,000. We took photographs of the customer with his house and that was the cover picture of our first annual report.”
BUSINESS
White label ATM operators seek new revenue streams to offset post-COVID customer shift
To compensate for the 30-35 percent drop in transactions at these ATMs, the operators are knocking on the RBI’s door to hike the interchange fee to help meet costs and grow
BUSINESS
MC Explains: Why RBI cracked down on credit bureaus that maintain your financial data
The central bank imposed monetary penalties on all four credit bureaus for incomplete data and other reasons.
BUSINESS
Expecting regulatory approval within a month for Credila sale: Parekh
On May 22, Moneycontrol was the first to report that a Baring PE EQT-led consortium was the frontrunner to pick up a majority stake of around 90 percent in HDFC Credila.
BUSINESS
Demand for housing loans will continue to grow in the next 4-5 years: Keki Mistry
Mistry also highlighted that structural growth remains in the housing loan sector.
BUSINESS
HDFC twins to complete merger process by July 1, says Deepak Parekh
HDFC and HDFC Bank announced the decision to merge on April 4, 2022
