BUSINESS
Union Bank tells staff not to communicate with senior management on social media
This order follows a bank employee receiving a WhatsApp message from someone impersonating A Manimekhalai, the MD & CEO of the bank.
BUSINESS
Banks see pressure on NIMs but asset quality improves
The net profit of banks on an average jumped by 66 percent in the July-September FY24 quarter. NIMs of some major banks contracted in the reporting quarter
BUSINESS
MC Interview: Ujjivan SFB targeting 25% overall growth in FY24, says MD and CEO
The housing segment was the star of the show for the bank, and demand was fuelled by tier II cities, MD said. Given the steady growth, the bank is looking at getting its net interest margin (NIM) back to nine percent by the end of Q3FY24.
BUSINESS
Unsecured loans not a worry for SBI, says Chairman Dinesh Khara
The bank has a total unsecured book of Rs 3.2 lakh crore as of September 30, 2023, Khara said. He added that the bank's gross-non-performing asset is at 0.69 percent
BUSINESS
Exclusive: True North in talks with companies for more investments in the BFSI sector, says Divya Sehgal
The merged entity of AU SFB and Fincare will sharpen its focus on gold and microfinance in the coming years. True North will maintain its shareholding in the new entity with a focus on growth.
BUSINESS
Exclusive: Indian Overseas Bank to hire cybersecurity experts after BoB saga, says MD and CEO
The bank has its routine checks and monitoring in place and everything in the digital operations is working fine for the bank said AK Srivastava.
BUSINESS
Indian Overseas Bank targets credit growth of 14-15% in FY24: MD & CEO
On the deposit side, A K Srivastava said that the bank is optimistic about having a 10% deposit growth.
BUSINESS
Business, geographical expansion key in AU-Fincare merger: experts
Fincare’s big microfinance book may pose challenges for AU Small Finance, which has limited exposure in this business.
BUSINESS
MC Interview: IDFC First Bank-IDFC Ltd merger on track, says V Vaidyanathan
The bank’s MD and CEO said the lender is looking at 24-25 percent credit growth in the last two quarters of 2023-24.
BUSINESS
Top banks increase loan write-offs in September quarter
Moneycontrol's analysis of data from 14 banks shows that five of the seven top lenders which have declared their quarterly results posted a higher level of write-offs compared to the previous a year. Banks may now start working on maintaining business flows, experts say
BUSINESS
PNB Housing Finance to go aggressive on affordable housing: MD & CEO Kousgi
The company said that it would like to have a third each of its disbursements to take place in the West, North and South of the country.
BUSINESS
Banks see sharp growth in unsecured loans even after RBI caution
Some banks reported an average 30 percent growth in their unsecured portfolio in Q2. The central bank has flagged concerns over the increase in unsecured credit.
BUSINESS
IndusInd Bank may cross-sell RCap insurance products, says MD and CEO
This is important as the promoter of the bank, IndusInd International Holdings Ltd, has successfully bid for acquiring the debt-ridden Reliance Capital.
BUSINESS
HDFC Bank sees 5-10 bps I-CRR impact on net interest margins, says CFO Vaidyanathan
Further Vaidyanathan said bank has taken certain calls on liquidity management for the coming quarters.
BUSINESS
Regulatory approvals for HDFC Credila in process, says HDFC CFO
Anti-trust regulator Competition Commission of India (CCI) had cleared the purchase of a 90 percent equity stake in HDFC Credila by a private equity consortium of BPEA EQT and ChrysCapital in August 2023
BUSINESS
HDFC Life Insurance bets big on partnerships in tier 2 and 3 cities, says CFO
The company reported a net profit of Rs 376 crore in the September quarter of the financial year 2023-24, up by 15 percent from the year-ago period.
BUSINESS
Banks go big on partnerships with insurance companies
After the pandemic, the jump in the number of policies and overall growth in the insurance sector have attracted banks.
BUSINESS
Inflation cools off beyond expectations but uncertainty lingers, say experts
Experts also highlighted that what the central bank will look at is a pause in repo rate at least in the fiscal year 2023-24.
BUSINESS
Banks Q2 earnings: Top five things to watch out for
Analysts highlight that amidst strong growth there is a need to keep an eye on the asset quality, treasury income, retail loan portfolio, net interest margin and recoveries by banks.
BUSINESS
RBI data points to growth in lending to retail, infra, mining; experts flag challenges
The growth in lending to the retail segment has caught the central bank’s cautious eye. The mining and infrastructure sectors that are seeing a growth in lending, may face challenges from a sharp rise in crude oil price due to the Israel-Palestine conflict.
BUSINESS
Fintechs to get self-regulatory organisation in 3-6 months, say industry players
These industry players who are in conversation with the RBI on the matter said the SRO will focus on code of conduct and overall infrastructure for the sector.
BUSINESS
Consumer confidence up, inflation easing slowly, RBI surveys show
Consumer confidence for September 2023, compared to a year ago, reverted to its recovery path after a brief pause in the July 2023 round of the survey, according to the latest survey
BUSINESS
RBI’s stance on SFB licensing remains same, says Dy Guv DG Rao
This comes after slice, a fintech company, announced a merger with North East Small Finance Bank.
BUSINESS
MPC meet: RBI to introduce card-on-file tokenisation at bank level, says Das
Governor Shaktikanta Das said this measure will enhance convenience for cardholders to get tokens created and linked to their existing accounts with various e-commerce applications.
