Page 49 - Banking Sector

Yes Bank: ED raids Mumbai builder group in money laundering case

At least 10 premises of a Mumbai-based realty group were raided

Union Bank completes IT integration of all Andhra Bank branches with itself

Union Banks it has completed IT integration of all branches of erstwhile Andhra Bank with itself

May need to reverse Rs 800 cr in interest income: YES Bank's Prashant Kumar

A back-of-the-envelope calculation says interest reversal will be to the tune of Rs 700-800 crore in that particular quarter, says Kumar

Strengthening regulation

Growth of NBFCs needs better supervision by RBI

Fraud in fintech being fought with regulatory tech

It has been estimated that more than 1,200 lending apps are active in India. While some have been shut down or removed from Google or Apple platforms, others can pop up with frightening speed

Can we bank on the Budget?

The onus of reigniting India's growth engine is on the banking system. Will the Budget fuel it

HDFC Bank submits action plan to RBI, hopes to fix outage issue in 3 months

The bank hopes to improve its technology platform in three months

Indian Bank gets board approval to raise Rs 4,000 cr from share sale

The bank looks to enhance its capital base

PMC Bank case: Enforcement Directorate searches 5 locations in Mumbai

ED on Friday carried out searches at five locations, including the premises of Mehul Thakur

IDBI Bank takes prompt corrective action; all eyes now on Q3 results

The lender has stabilised under LIC ownership, but its exit from the central bank's restrictions may be some time away

Sebi penalises HDFC Bank for wrongly invoking pledge of securities

Sebi has imposed a penalty of Rs 1 crore

Punjab & Sind Bank reports fraud of Rs 94 crore in NPA account

Punjab & Sind Bank on Thursday reported a fraud of Rs 94.29 crore in an NPA account of Supertech Township Projects. In a regulatory filing, the state-owned lender said it has reported the fraud to the Reserve Bank of India (RBI). "...it is informed that an NPA Account, viz M/s Supertech Township Projects Limited with outstanding dues of Rs 94.29 crore has been declared as fraud and reported to RBI today as per regulatory requirement," the Delhi-headquartered bank said. The account has been fully provided for as per the existing RBI norms, it added.

Federal Bank Q3 profit falls 8% to Rs 404 crore on higher provisioning

The bank earned net interest income of Rs 1,437 crore in Q3, against Rs 1,155 crore a year ago

Federal Bank third quarter profit declines 8% to Rs 404 crore

The fall was mainly due to higher provisioning for bad loans

Citi India elevates Arjun Chowdhry as head of its consumer banking biz

Chowdhry will manage the domestic retail banking, wealth management, credit cards, loans and mortgages

The zero MDR has affected the PoS business: Worldline's Deepak Chandnani

India has some 5.2 million PoS units, but a country of our size needs more, DEEPAK CHANDNANI, managing director, Worldline (South Asia and the Middle East), tells Raghu Mohan

Short-term interest rates increase 25-30 basis points, shows data

The reason why short-term rates have spiked is liquidity normalisation

Banking: Yesterday, today and tomorrow

With the customer spoilt for choice, the option for the banking industry in the new decade is between going digital or dying

Immobilise unregistered digital lending apps

Forget lack of faith, there is fear of the law enforcement machinery even among educated, sophisticated, middle-class people

HDFC Bank's Q3 net profit surges 18% on growth in net interest income

Provisions and contingencies of the lender increased 12 per cent year on year