Suryoday Small Finance Bank

Overnight and one-month MCLR rates are now at 8.50%, while the MCLR for three months is at 8.55%, ICICI Bank's website showed

CLOSING BELL: Auto majors - Maruti and Mahindra & Mahindra were the other prominent gainers among the Sensex 30, while Bharti Airtel and Tata Steel declined around a per cent each

On a sequential basis, the bank's net profit rose 67.7 per cent from Rs 7.75 crore in April-June

"This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon validity of any transaction or agreement entered into by the bank with its customers," RBI said

R Baskar Babu, managing director & chief executive officer of Suryoday Small Finance Bank, tells Manojit Saha in an interview that the regulator wants these lenders to rebalance the portfolio

Collaboration will enable Suryoday Bank to provide enhanced security, availability, and manageability for core IT and banking applications

Amid reports of merger talks with an NBFC, R Baskar Babu says Suryoday SFB is always open for both organic and inorganic growth opportunities

The guidelines for on-tap SFB licences have it that an applicant not found suitable for a licence will not be eligible to apply again for three years

Clix Capital Services, a digital-lending shadow bank, is in merger talks with Suryoday SFB

Clix had earlier made a non-binding offer to buy up to 85 per cent stake in LVB

It has already seen an increase in disbursement to level of Rs 360 crore in July, on par with disbursement in April-June 2021

Suryoday Small Finance Bank (SFB) on Thursday reported an 89 per cent decline in its net profit to nearly Rs 12 crore for the financial year ended March 2021. The bank, which was listed on the bourses in late-March 2021, had reported a net profit of Rs 110.94 crore in the previous year, the bank said in a regulatory filing. It reported widening of its net loss to Rs 43 crore in the March 2021 quarter, compared with Rs 15.5 crore a year ago. "Profit after tax (PAT) fell 89 per cent year-on-year for FY21 to Rs 11.9 crore compared to FY20. "The lower profitability is due to additional provisioning on increased NPA (non-performing assets) and additional floating provision of 1.5 per cent amounting to Rs 37.5 crore on inclusive finance portfolio due to uncertainty related to second wave of COVID-19, and lower disbursement during FY21," Suryoday SFB said. Disbursements during the year saw a growth of 28 per cent year-on-year to Rs 2,217 crore, predominantly due to uncertainty relating t

Shares of four companies listed this week have been below IPO price

Bajaj Finserv, Asian Paints, HUL, Titan Company, Bajaj Auto, and HDFC were leading the list of gainers on the Sensex, up between 2.7 per cent and 4.4 per cent

The initial public offer (IPO) of Suryoday SFB had managed to get good response from the retail investors and qualified institutional buyers (QIBs)

French company Groupe Atlantic would invest Rs 68.3 crore in Somany Home Innovation Limited (SHIL) for 50 per cent stake in its water heater business, as per a regulatory filing

Six issues closed this week; Barbeque Nation could hit the market next

Shares of Antony Waste, Mrs Bectors Food, Chemcon Speciality and Burger King are down about 40 per cent each

The initial public offer of Suryoday Small Finance Bank was subscribed 2.37 times on the last day of subscription on Friday

The IPO of Suryoday Small Finance Bank was fully subscribed on the second day of subscription