BUSINESS
HDFC Bank plans to enhance deposit growth through personalised customer experiences, says Atanu Chakraborty
Chakraborty's remarks come at a time the banking sector is experiencing sluggish deposit growth, partly due to the increasing attractiveness of alternative investment options for household savings.
BUSINESS
LIC operations in Bangladesh resuming partially, company in touch with Bangladeshi authorities, says CEO&MD
The insurer's chief executive officer and managing director (CEO and MD) Sidhartha Mohanty in a post results press conference said that it is in touch with local officials in Bangladesh.
BUSINESS
LIC Q1 results: Net profit rises 9% to Rs 10,544 crore, APE up 21% to Rs 11,560 crore
On August 8, LIC's shares on BSE closed nearly flat at Rs 1,124 apiece
BUSINESS
RBI Monetary Policy: Tax payment limit through UPI goes up to Rs 5 lakh
RBI Gov Shaktikanta Das on August 8 in his monetary policy committee (MPC) after keeping the repo rate unchanged at 6.5 percent announced the UPI measure.
BUSINESS
RBI plans public repository for digital lending apps to address unauthorised practices
RBI Governor Shaktikanta Das said that the domestic economic activities continues to remain resilient
BUSINESS
RBI MPC: Governor urges banks to mobilize household financial savings, focus on branch network to attract deposits
The MPC also decided to remain focussed on withdrawal of accommodation stance by a majority of 4:2. Consequently, all other rates like SDF, MSF, Bank Rate remain unchanged.
BUSINESS
NBFCs, urban co-operative banks continue to show improvements, says RBI Governor
The RBI MPC has decided to keep the repo rate unchanged a 6.5% by a majority of 4:2
BUSINESS
Microfinance adds burden on SFBs in Q1 as asset quality sees pressure
Most small finance banks have a heavy microfinance presence on their books. Due to pressures on this book, they reported a muted profit growth and worsening asset quality.
BUSINESS
Caspian Debt aims to push microfinance portfolio to 30% from 10% in FY25: MD and CEO
Avishek Gupta said the company is focusing on the climate resilience sub-sector under microfinance and has partnered with MFI representative body Sa-Dhan for the purpose.
BUSINESS
Bank of India sees 10-15 percent on its LCR from RBI’s draft norms, says MD&CEO
Currently, Bank of India’s LCR stood at 120 percent as on June 30.
BUSINESS
MPC Poll: RBI to maintain status quo in August monetary policy amid inflation risk
Meeting of the MPC will be held between August 6 and August 8. The decision of the MPC will be delivered on August 8.
BUSINESS
Fino Payments Bank chief draws up blueprint for aggressive growth in digital, cash management business
The payments bank in Q1FY25 reported robust growth across segments. The cash management business of the bank saw some pressure on its margins, Rishi Gupta, MD and CEO said, due to a mix in clients. In addition, digital business overall saw robust growth which they would want to continue, Gupta added.
BUSINESS
Aditya Birla Capital Q1 results: Net profit jumps 17% to Rs 758 crore
Shares of the company closed for trading at Rs 219.95, 3.06 percent down on BSE.
BUSINESS
Capital SFB to open first branch in Jammu, plans to add more this fiscal, says bank chief
The local area bank turned small finance bank plans to open about 26 branches this year.
BUSINESS
PNB Housing Finance eyes a big chunk of affordable housing, aims for 19% growth in FY25, says MD & CEO
The housing finance company sees a big opportunity in the affordable space after Union Budget announcements, MD & CEO Girish Kousgi said.
BUSINESS
IDFC First, Axis Bank lower minimum amount due on credit cards, but others refuse to follow suit
Reducing the minimum amount due on credit cards is a win for banks as they can get more interest on the higher outstanding amount.
BUSINESS
Mutual Funds up their stake in private banks, HDFC Bank sees record steepest surge
During the period when mutual funds hiked their shareholding in these banks, the Nifty Private Bank index jumped to 26,144.22 from 22,953.30.
BUSINESS
'We hope to achieve 4% gross NPA level by end of FY25,' says PNB chief AK Goel
The bank, Atul Kumar Goel, MD and CEO, in an interaction with Moneycontrol, said that the bank is expecting a total recovery of Rs 18,000 crore in this fiscal year.
BUSINESS
CSB Bank expects 10% impact from RBI’s LCR norms, says CFO
The RBI's new draft rules will prove important during times of severe liquidity stress or when many people withdraw their funds -- both moves that can significantly affect a bank's total capital and its ability to finance such outflows.
BUSINESS
CSB Bank Q1 results: Net profit falls 14% to Rs 113 cr as gross NPA highest in seven quarters
The lender’s CFO, in a post results analysts call, said that GNPA has peaked out in this fiscal and the bank is expecting to deliver better Q2FY25 performance.
BUSINESS
Private banks face toughest June quarter in years with shrinking margins, poor asset quality, high slippages
With deposit repricing becoming extremely visible in Q1, surge in cost of funds weigh on net interest income. Private banks reported NII growth of 15.5 percent year on year in Q1
BUSINESS
Shriram Capital gets RBI nod to launch ARC, says Umesh Revankar
The company had applied for an asset reconstruction company (ARC) license to the Reserve Bank of India (RBI) in November 2023.
BUSINESS
ICICI Bank infuses Rs 500 crore in home finance subsidiary, says ED
The subsidiary of the bank in Q1FY25 reported a net profit of Rs 117 crore. The bank has till now infused Rs 1862 crore through equity in the subsidiary.
BUSINESS
Punjab National Bank expects to recover Rs 3,000 cr from NCLT cases in FY25: MD & CEO
In addition, Goel said that the bank has 224 cases in process under the insolvency route for recovery.
