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IDFC, Indian Bank, Yes Bank put SpiceJet loans on high-risk: Report

IDFC, Indian Bank, Yes Bank put SpiceJet loans on high-risk: Report

Aug 08, 2022

The lenders are concerned about SpiceJet's cash flows and have held discussions seeking assurances from the Indian budget carrier, as it is behind on payments to some aircraft lessors, the sources said.

After this revision, the overnight MCLR and one-month MCLR stands at 7.80 per cent, according to the bank’s website.

HDFC Bank hikes MCLR by 10 bps; check latest rates here

Aug 08, 2022

The bank’s recent revision in MCLR rates comes after the Reserve Bank of India (RBI) hiked the repo rate by 50 basis points to 5.40 per cent on August 5.  

The RBI has hiked the repo rate by aggregate of 140 basis points since it started its rate hike cycle through an unscheduled meeting in May

RBI may hike repo rate to 6% by 2022-end, but pace may slow: Analysts

Aug 08, 2022

The RBI's monetary policy committee (MPC) raised its repo rate, the third increase in the current cycle.

Banks cannot perennially rely on RBI money to support credit offtake: Das

Banks cannot perennially rely on RBI money to support credit offtake: Das

Aug 05, 2022

"When there is a credit offtake, banks can sustain and support that credit offtake only if they have higher deposits. They cannot be relying on the central bank money on a perennial basis to support credit offtake they have to mobilise their own resources and funds," Das told reporters during the post policy meeting.

HDFC

HDFC raises $1.1 bn 'social loan' for financing affordable housing segment

Aug 05, 2022

This is India's largest social financing issuance, the largest social loan globally, the first social ECB loan out of India and the largest ECB loan deal from a Housing Finance Company/private NBFC in India, HDFC said in a release.

The MPC, which is expected to announce the monetary policy tomorrow, is expected to vote for a 35 to 50 basis point hike in policy rates. 

Domestic growth vs Fed rate hikes: What can influence RBI’s monetary policy tomorrow?

Aug 04, 2022

The MPC, which is expected to announce the monetary policy tomorrow, is expected to vote for a 35 to 50 basis point hike in policy rates.

Bids for IDBI Bank by month-end likely

Bids for IDBI Bank by month-end likely

Aug 04, 2022

A crucial meeting of an inter-ministerial group on disinvestment is scheduled to be held on August 8 to review progress in the planned divestment of IDBI Bank, top finance ministry sources have told Business Today Television.

HDFC Bank says no need to pay off parent firm's liabilities on day one of merger

HDFC Bank says no need to pay off parent firm's liabilities on day one of merger

Aug 04, 2022

HDFC Bank said it has not approved any plans to raise funds to pay towards such liabilities of HDFC Ltd.

Yes Bank to convene shareholders' meet on Aug 24; to seek nod for Rs 8,900 cr fund raise plan  (Photo: Reuters)

Yes Bank to convene shareholders' meet on Aug 24; to seek nod for Rs 8,900 cr fund raise plan

Aug 02, 2022

The lender would convene an Extraordinary General Meeting (EGM) on August 24 to seek shareholders' nod for various proposals, including for the fund raise plan.

Predictions from the 63 economists polled between July 25 and Aug. 1 ranged from a 25 basis point hike to one of 50 bps when the RBI meets on Aug. 5.

RBI to hike key interest rates in August but no consensus on size

Aug 02, 2022

With inflation running at a near-decade high and the rupee trading near a record low, the RBI, which only began raising rates in May, is expected to front-load subsequent hikes to catch up with its global peers.

Punjab & Sind Bank profit rises 18% to Rs 205 crore in April-June

Punjab & Sind Bank profit rises 18% to Rs 205 crore in April-June

Aug 01, 2022

The total income of the bank during the reporting quarter declined to Rs 1,91,547 crore from Rs 2,03,961 crore recorded in the same quarter of FY21, Punjab & Sind Bank said in a regulatory filing.

The capital raise will further bolster the capital adequacy of YES BANK and aid the Bank’s medium to long term sustainable growth objectives, Yes Bank stated.

Yes Bank to raise Rs 8,898 cr, to sell 10% each to Carlyle, Advent International

Jul 29, 2022

This will be raised through a combination of Rs 5,100 crore in equity shares and Rs 3,800 crore through equity share warrants, Yes Bank stated.

PNB Q1 results

PNB Q1 results: Net profit slumps 70% YoY to Rs 308 cr

Jul 28, 2022

PNB's interest earned in June quarter also decline to Rs 18,757 crore in comparison with Rs 18,929 crore in the same quarter last fiscal. 

RBI to hike rates by 30-50 bps at Aug 5 MPC meeting: Axis Bank chief economist

RBI to hike rates by 30-50 bps at Aug 5 MPC meeting: Axis Bank chief economist

Jul 28, 2022

Bhattacharya said the MPC will go into the internal surveys like household inflation expectations and consumer confidence while deciding the quantum of the rate hike.

Bank of Baroda hikes interest rates on FDs: Check details here

Bank of Baroda hikes interest rates on FDs: Check details here

Jul 28, 2022

The bank has also increased interest rates on a range of tenors. Now, the interest rate will range from 3.00 percent to 5.50 percent for the general public and 3.50 percent to 6.50 percent for senior citizens.

The company's revenue from operations increased 31 per cent to Rs 3,100 crore in the quarter under review as against Rs 2,362 crore in the same quarter last fiscal.

SBI Card Q1 profit more than doubles to Rs 627 cr, asset quality improves

Jul 28, 2022

The company's revenue from operations increased 31% to Rs 3,100 crore in the quarter under review as against Rs 2,362 crore in the same quarter last fiscal.

Banks, financial institutions can look at having paperless branches: RBI discussion paper (Photo: Reuters)

Banks, financial institutions can look at having paperless branches: RBI discussion paper

Jul 27, 2022

According to the discussion paper, the REs may look at ways and means to incentivise adoption of e-receipts.

Unclaimed deposits: RBI launches awareness campaign (Photo: Reuters)

Unclaimed deposits: RBI launches awareness campaign

Jul 26, 2022

Most of these funds are lying with banks across Tamil Nadu, Punjab, Gujarat, Maharashtra, Bengal, Karnataka, Bihar, and Telangana/Andhra Pradesh, according to an RBI official.

In March, Axis Bank and Citi had signed a definitive agreement for the deal, which is expected to be completed by September 2024 and would help Axis Bank gain access to 30 lakh new customers.

CCI clears Axis Bank-Citi deal, one of India's largest financial agreements

Jul 26, 2022

Under the deal worth Rs 12,325 crore, announced on March 30, Axis Bank would take over Citi's credit cards, personal loans and wealth management businesses that are focused on the affluent segment.

Union Bank June quarter net profit up 32% at Rs 1,558 cr on lower bad loans

Union Bank June quarter net profit up 32% at Rs 1,558 cr on lower bad loans

Jul 26, 2022

The bank had posted a standalone net profit of Rs 1,180.98 crore in the year-ago quarter.

SBI brings in OTP-based ATM withdrawal service; check details

SBI brings in OTP-based ATM withdrawal service; check details

Jul 25, 2022

Lately SBI has been creating awareness about ATM frauds from time to time through social media and other platforms.