The banking system has seen a stable phase of business in the March quarter of FY22, but elevated operating costs may put a lid on operating profit growth, according to analysts tracking the sector. They see pre-provisioning operating profits for banks growing in the range of 6% to 7% during Q4FY22, even as net profit […]
Analysts expect banks to report 6-7% operating profit growth in Q4FY22 Read More »
West Bengal government has directed banks to expedite the process of sanctioning and distributing loans under the state’s student credit card scheme. In a meeting between the finance department and the State Level Bankers’ Committee, chief minister Mamata Banerjee’s principal chief advisor Amit Mitra asked lenders why there were “at least 16,000 provisionally sanctioned cases
WB directs banks to expedite sanctions of loans under Student Credit Card Scheme Read More »
Kotak Mahindra Bank has received approval to function as an authorized bank for payment of pensions. This means that now retired individuals can open their pension accounts with Kotak Mahindra Bank. According to a Ministry of Finance office memorandum, “It is informed that the Central Pension Accounting Office (CPAO) vide its letter dated 23.02.2022 has
Kotak Mahindra Bank gets approval to disburse pensions Read More »
Ujjivan Small Finance Bank disbursed Rs 4870 crore in the December quarter, its highest ever quarterly disbursement, while asset quality improved with 100% collection efficiency in March in step with steady economic recovery. The bank’s gross loan portfolio grew 20% year-on-year to Rs 16543 crore. Its microfinance portfolio at Rs 10,979 crore accounted for 67%
Sharp rise in lending for both Ujjivan and Dhanlaxmi Bank Read More »
The Reserve Bank of India (RBI) stands apart as a rare example of a central bank today that has shunned interest rate hikes in the post-pandemic era and remained open to rate cuts, despite rising inflation. As the RBI’s monetary policy committee (MPC) meets from April 6-8 to decide its latest interest rate policy, official
Has India’s central bank avoided tackling high inflation? Read More »
Yes Bank on Tuesday said its net advances grew by 8.8 per cent to Rs 181,508 crore in the fiscal ended March 31, 2022. The bank’s net advances were at Rs 166,893 crore in the previous fiscal ended March 2021. Of the net advances during FY22, the gross retail disbursements stood at 10,324 crore, Yes
Yes Bank net advances up 8.8 pc to Rs 181,508 cr in FY22 Read More »
The Union Bank of India (UBI) has said it will create a “Digital Bank within Bank” as part of its future ready digital transformation project. Under the project, the public sector bank is planning to launch a super app, as per the bank’s regulatory filing. Further, a host of digital products — pre-approved personal Loan
Union Bank of India to create “Digital Bank within Bank” Read More »
HDFC Bank, a private sector lender, has raised interest rates on fixed deposits of less than Rs 2 crore for selected tenors, with the higher rates taking effect from April 6, 2022. According to the bank’s website, HDFC Bank has increased its one-year FD interest rate by 10 basis points to 5.10 percent from 5
HDFC Bank hikes FD interest rates of these tenures Read More »