Page 14 - Banks

Asset managers on the alert after 'WhatsApp' crackdown on banks

The issue gathered urgency when the pandemic forced more finance staff to work from home in 2020

Net profit of banks rose 37.1% to Rs 44,048 cr in Q1FY23: BoB report

The net profit of the banks rose by 37.1 per cent year-on-year to Rs 44,048 crore in the first quarter of the current financial year, according to a Bank of Baroda research report

Microfinance loans grow 24% YoY in Q1 of FY23; credit quality stable

Fund flow to the sector has improved but some smaller MFIs still find it difficult to access finance from banks

Gujarat: Japanese lender MUFG Bank commences operations from GIFT City

Japanese lender MUFG Bank on Wednesday announced the beginning of operations from Gujarat International Finance Tec-City (GIFT City) in India. Earlier in May, MUFG had received approval from the International Financial Services Centres Authority in India and the Financial Services Agency of Japan for the opening of this branch office in Gujarat. MUFG opened its first branch in 1953 in Mumbai and with the latest one at GIFT City, its total number of branches reached six. The other centres are New Delhi, Chennai, Bengaluru and Neemrana. Going forward, the bank will strive to further leverage its enhanced office footprint to provide an even more extensive and enriched suite of financial services to meet the diverse needs of its customers, MUFG said in a release. Stating that India's growth story is phenomenal, Shashank Joshi, Deputy CEO of India, expressed gratitude on being recognised by Prime Minister Narendra Modi as the first Japanese bank to open a branch in GIFT City. "We are f

Let customers enjoy freedom from banks' tyranny

The branch managers have come out of their glass cabins and the sellers' market has transformed into a buyers' market. But, there is no end to the harassment of customers

Bank Locker Rules: Here's everything you should know to protect your assets

The Reserve Bank of India regularly updates rules for improving the safety and convenience of the bank customers. These are the Bank locker rules that everyone should know.

Reserve Bank directs loan recovery agents not to intimidate borrowers

While issuing instructions to regulated entities including banks, NBFCs and ARCs, RBI said it has observed that recovery agents are deviating from its instructions with regard to recovery of loans

A Billion Accounts are now on AA.Now what?

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Unity Small Finance Bank appoints Inderjit Camotra as MD and CEO

Unity Small Finance Bank is a new age, digital first bank which was recently elevated to a 'Scheduled Bank' and was included in the Second Schedule of the RBI Act.

Loan EMIs to rise as RBI increases repo rate by 50 bps to curb inflation

Several banks have already raised their borrowing rates and some will again increase their rates after this hike by the central bank.

DBS Bank India reports profit after tax of Rs 167 crore in 2021-22

The bank, which is a wholly-owned subsidiary of DBS Bank, acknowledged the lagged effects of its amalgamation with Lakshmi Vilas Bank on its net profit

Banks write off loans worth Rs 10 trn in last 5 years: MoS Finance

During 2021-22, the write-off amount came down to Rs 1,57,096 crore compared to Rs 2,02,781 crore in the previous year, Minister of State for Finance Bhagwat K Karad said

Bank, auto, FMCG: Sectors on FPIs' radar as they turn focus back on India

The swing in favour of Indian equities comes after a brutal sell-off where FPIs sold equities worth Rs 2.56 trillion since October 2021

Competition may push deposit rates up over 100 bps by December: Bankers

There is, however, room for the deposit rates to rise, with the average one-year deposit rate for banks standing at 5.41 per cent

After HDFC Bank, more banks may offer higher rates on NRE deposits

For domestic deposits worth Rs 2 crore to less than Rs 5 crore with a tenure of one year to less than 15 months, HDFC Bank offers 6.25 per cent, data on the lender's website showed

Board-level engagement in banks on climate risk inadequate: RBI survey

The survey pointed out a majority of the banks did not have a separate business unit or vertical for sustainability and ESG-related initiatives

Mastercard enables 200,000 merchants for card-on-file tokenisation

Mastercard said it worked with 45,000 merchants, 34 issuing banks, 10 acquiring banks, and 30-plus token requestors (including all major payment aggregators) to create 90 million tokens

Karur Vysya Bank Q1 net doubles to Rs 229 cr, interest income up 17%

Operating profit for up 15% YoY, major improvement seen in bad loans

Banks flag concerns on rupee, floating rate bonds ahead of RBI policy

The discussions were held ahead of the RBI's next monetary policy statement, scheduled August 5

Axis Bank Q1 result today: A look at the numbers in the last four quarters

Axis Bank Q1 Results: In FY22, the bank doubled its net profit to Rs 13,025 crore. The operating profit of the bank grew by 13 per cent YOY & 5 per cent QOQ, in Q4FY22