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Latest Articles in Banking Finance

Canara Bank Names K Satyanarayana Raju Appointed As New MD & CEO

K Satyanarayana Raju will begin serving as MD and CEO on February 7, 2023, per the appointment by the Indian government

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UPI Transactions Grow Eight Times In Last Three Years: Centre

Growth of more than 200 per cent in digital payment volume during the last four years since 2018-19, the central government tells Parliament

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Kotak Mahindra Launches Kotak Banking & Financial Services Fund

The company underlines the investment objective of this sectoral fund as the long-term capital appreciation from a portfolio that is invested predominantly in equity and equity-related securities of companies engaged in the banking and financial services sector

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Bandhan Bank Hikes Interest Rates On Fixed Deposits

The revised FD rates are applicable for retail deposits of up to Rs 2 crore and are effective from today

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Bank Of Baroda Open To Lending To Adani Group: Report

The report stated that the state-run lender’s managing director said that its outstanding exposure to the group was less than one-fourth of the amount permitted by the central bank for conglomerates

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Banking Sector Remains Resilient And Stable, Says RBI

As the regulator and supervisor, the RBI maintains a constant vigil on the banking sector and on individual banks with a view to maintaining financial stability

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Indian Banks Likely To See Tighter Margins In FY24, Says Fitch Ratings

It attributed the contraction to the normalisation in deposit rates and said that banks should be able to offset some of the impact as they gradually pass through policy rate hikes to corporate loans, which are typically slower to reprice than retail and SME loans

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South Indian Bank Launches Wealth Management Platform

South Indian Bank has tied up with Geojit Financial Services, an investment services company with over 35 years of experience in providing effective financial solutions, to operationalise the service offering

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Generating Numbers

During FY22, ICICI Bank continued to be the leading bank in electronic toll collections through FASTag with a market share of close to 33 per cent. Its electronic toll collections through FASTag increased 51.9 per cent in fiscal 2022

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Robust Performer

The Provision Coverage Ratio (PCR) of the bank improved 449 bps to 84.17 per cent as on March 31, 2022. PCR is the percentage of funds that a bank sets aside for losses due to bad debts. A high PCR can be beneficial to banks to buffer themselves against losses if the NPAs start increasing faster

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Customer Focussed

The key productivity parameter, business per employee, also increased to Rs 19.41 crore as on March 31, 2022. The domestic and global net interest margin (NIM) for PNB stood at 2.79 per cent and 2.71 per cent respectively, in FY22

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Creating Value

In his address to the shareholders, Jagdishan explained the rationale behind the merger of HDFC Bank with HDFC. "Quite simply, this is an opportunity we cannot afford to miss. Home loans are an emotional product and bring with them a host of accelerated benefits for the Bank," he said

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Exposure In Adani Group 0.88%, No Cause For Concern: SBI Chief

This comment comes amid a report by Hindenburg Research, which claimed the Adani Group of having weak business fundamentals, allegations of stock manipulation and accounting fraud, among others

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Bank Of Baroda Posts 75% Hike In Q3 Profit

The company's operating profit in the reviewed quarter jumped 50.1 per cent to Rs 8,232 crore, against Rs 5,483 crore in the corresponding period a year ago.

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LIC: Creating Value, Sustaining Trust

LIC makes its debut in the BW Real 500 list of companies this year at the third position behind Indian Oil and Reliance Industries based on its total income, and other relevant parameters

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