Bank News

New Delhi, Dec 20: India Post Payments Bank (IPPB) opened 2.68 crore accounts in 2024 (till November), with 1.56 crore or 59 per cent being owned by women and 77 per cent accounts being opened in rural parts of the country, the government said on Friday.

New Delhi, December 3: The credit growth across all sectors is declining as the momentum has turned negative, according to a State Bank of India report.

New Delhi, November 27: SBI Funds Management Limited, a joint venture between State Bank of India and Amundi, Europe's largest asset manager, on Wednesday announced the appointment of Nand Kishore as Managing Director and Chief Executive Officer, a release stated.

Mumbai, Nov 27: Discover the best fixed deposit options for senior citizens in India, featuring higher interest rates and tailored benefits. Secure your retirement with stable, reliable investments that ensure maximum returns on your savings. Compare top banks and make informed choices to boost your financial future today!

Mumbai, November 18: The banking community should view MSMEs not merely as a sector of risk but as a sector brimming with opportunity, Finance Minister Nirmala Sitharaman said on Monday and noted that cash flow-based lending has the transformative potential to address the working capital requirements of MSME units.

Mumbai, Nov 18: Discover the perfect savings account for your needs! Explore the various types of savings accounts offered by Kotak Mahindra Bank, from zero-balance options to specialized accounts for seniors and kids. Learn about their unique features and benefits to make an informed choice and start growing your savings today!

New Delhi, November 15: India's current account deficit (CAD) will remain within a manageable range for both FY25 and FY26, largely due to muted oil prices that are expected to support the country's external financial position, projected a recent report by Bank of Baroda.

Liverpool, Nov 9: Liverpool captain Virgil Van Dijk claimed the side will be striving to make it a 'perfect hat-trick' of victories with a win over Aston Villa. Liverpool have been loving life under Arne Slot and are at the top of both the Premier League and the UEFA Champions League table with the international break looming.  

New Delhi, November 8: State Bank of India on Friday reported that its net profits or profit after tax in the July-September quarter rose 27.92 per cent to Rs 18,331 crore.

New Delhi, November 7: Indian banks are expected to have a steady growth in earnings and returns over the next 3-4 years, according to a report by Jefferies.

New Delhi, October 19: India's services sector continued to perform well, with services exports rising by 9.8 per cent to USD 180 billion in the fiscal year-to-date, while services imports increased by 9.6 per cent to USD 62.9 billion, according to Bank of Baroda report.

Mumbai, Oct 19: Leading private lender HDFC Bank on Saturday announced to sell equity shares worth Rs 10,000 crore via an offer for sale (OFS) in the upcoming initial public offering (IPO) of its subsidiary HDB Financial Services Ltd.

Mumbai, Oct 19: Leading private sector lender HDFC Bank on Saturday reported a net profit of Rs 16,820 crore in the July-September quarter, a growth of 5 per cent from the corresponding quarter last year.

New Delhi, Oct 19: Kotak Mahindra Bank on Saturday reported net profit of Rs 3,344 crore in the July-September period (Q2 FY25), up 5 per cent from Rs 3,191 crore in the same quarter last fiscal.

New Delhi, October 16: A research report has highlighted that even if the Reserve Bank of India (RBI) announces a rate cut, deposit costs in the banking system are expected to remain high due to the prevailing high credit-to-deposit ratio.

Mumbai, October 15: In August 2024, Axis Mutual Funds launched a new offering - the Axis Consumption Fund, aimed at capitalising on India's growing consumer market.

New Delhi, October 10: Reserve Bank of India's (RBI) decision to keep the repo rate unchanged and change the policy stance to neutral indicates that inflation is still the main concern for the central bank, according to a research report by Union Bank of India.

New Delhi, October 7: The International Finance Corporation (IFC), a member of the World Bank Group, is partnering with private lender Axis Bank to provide a USD 500 million loan aimed at developing a blue finance market and scaling up green project financing in India.

New Delhi, October 3: With India experiencing strong economic growth, the Reserve Bank of India (RBI) is unlikely to announce any rate cuts in its upcoming monetary policy meeting, says a report from the State Bank of India (SBI).

New Delhi, October 2: Non-banking financial companies (NBFCs) are increasingly attempting to access funding sources beyond banks, such as through non-convertible debentures (NCD), commercial papers (CP), foreign currency borrowings (FCB) and securitisation, to continue their growth march, asserted Crisil Ratings.

New Delhi, September 29: Indian banks are expected to see improvements in their loan-to-deposit ratios after a large majority of them reported increases in the April-June quarter.

New Delhi, September 26: As the fed rate cuts have increased the liquidity in the Indian markets, the Indian rupee will get support against the dollar and will trade around Rs 83.57, highlighted a research report by the Union Bank of India.

New Delhi, September 23: The Reserve Bank of India (RBI) is likely to cut the repo rate by 25 basis points this year, and cumulatively by 1 percentage point as part of its departure from steady monetary policy, said investment banking company Jefferies in a report.

New Delhi, September 21: The value of digital payments has surged to Rs 1,669 lakh crore in the first five months (April-August) of the current financial year 2024-25, according to Union Finance Ministry.

New Delhi, September 16: Generative AI, while gaining widespread attention, is not without its flaws. A recent report by Deutsche Bank Research highlighted that despite its strengths, the technology still struggles with certain tasks, particularly when it comes to mathematical calculations.

New Delhi, September 12: Public sector lender, State Bank of India (SBI), has sanctioned Rs 10,050 crores to Damodar Valley Corporation (DVC) for Ultra Super Critical Thermal Power Project of 1600 MW to be set up at Koderma, Jharkhand, the SBI said in a statement on Thursday.

Mumbai, September 4: The 610th meeting of the Central Board of Directors of the Reserve Bank of India was held on Wednesday in Mumbai under the Chairmanship of Governor Shaktikanta Das.

Mumbai, September 4: Amid a surge in number and demand of Initial Public offerings (IPOs) in the Indian stock market, a recent SEBI report has revealed some interesting behaviour of investors in the IPO market.

Bhubaneswar, August 31: After the release of the first quarter GDP numbers, RBI Governor Shaktikanta Das on Saturday stated that India's growth story is intact. The governor was speaking at the National CA Conference in Bhubaneswar, Odisha.

New Delhi, August 31: Indian consumers demonstrated a significant increase in their credit card spending in July this year, marking a 19 per cent increase as compared to the same month last year.

New Delhi, August 30: Liquidity in the Indian banking system has seen a significant decline this month says a research report by the Union Bank of India. It says the banking liquidity has fallen to Rs 0.95 lakh crore as on 28th August from a peak of Rs 2.86 lakh crore.

Mumbai, Aug 28: In the dynamic world of investments, innovation-driven sectors are increasingly becoming focal points for investors seeking robust returns. The SBI Innovative Opportunities Fund, a new offering from SBI Mutual Fund, is tailored to capture the growth potential of such sectors.

Mumbai, August 26: Small finance banks (SFBs) are expected to grow their loan book by a robust 25-27 per cent this fiscal year, Crisil Ratings said on Monday.

New Delhi, August 26: One97 Communications, the parent entity that operates the brand Paytm, stated on Monday, as part of its stock exchange filing, that it had made relevant disclosures relating to SEBI's notice in its financial results for the quarter and year ended March 31, 2024, as well as the quarter ended June 30, 2024.

New Delhi, August 26: The Indian economy is expected to grow at 7.0-7.1 per cent in the April-June period, the first quarter of 2024-25, according to a report by SBI Research, released just days before the government is set to publish the official data.

Banglore, August 26: The technology platform for providing "frictionless credit" launched by the Reserve Bank of India (RBI) last year as a pilot project will be introduced nationwide soon, said Reserve Banks of India Governor, Shaktikanta Das on Monday.

Banglore, August 26: Integration of artificial intelligence (AI) into financial services brings significant opportunities for all stakeholders, the Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday.

Mumbai, Aug 26: Investing is a marathon, not a sprint. Time, consistency, and discipline can potentially reap significant rewards in the long term. This is what makes a Systematic Investment Plan (SIP) a convenient and effective tool to potentially build wealth over a long horizon.

New Delhi, August 22: PhonePe has announced the launch of its new feature, 'Credit Line on UPI,' aimed at enhancing the flexibility and convenience of transactions for its users.

New Delhi, August 21: The banking sector in India could face "significant" liquidity risks due to the ongoing widening gap between credit and deposit growth, said S&P Global Market Intelligence.

New Delhi, August 21: Noel Tata, Chairman of the CII Africa Committee and Chairman of TATA International Ltd. emphasized the growing need for innovative financial strategies to overcome challenges in India-Africa trade at the 19th edition of the CII India-Africa Business Conclave in New Delhi.

London, August 21: Entering the world of stock market investing can open up numerous opportunities for financial growth. To navigate this journey successfully, it is essential to understand the critical steps involved, such as opening a trading account and identifying high-potential sectors.

London, August 20: India's healthcare system has witnessed substantial advancements over the past few decades, with various initiatives aimed at improving the accessibility and affordability of healthcare services.

Chennai, Aug 19: Banking transactions across the country may be affected on August 28 as the All India Bank Employees Association has called a nationwide strike, a top union official said on Monday.

New Delhi, August 9: The State Bank of India in a report projects that India's real GDP will grow by 7.0 per cent year-on-year in FY25, which is slightly lower than the RBI's forecast of 7.2 per cent.

New Delhi, Aug 3: Government-owned Bank of India on Saturday reported a 10 per cent increase in its net profit to Rs 1,703 crore in the April-June quarter of the current financial year, compared to Rs 1,551 crore in the same quarter last year.

New Delhi, July 29: The Indian Bank on Monday reported a 40.6 per cent jump in net profit to 2,403.42 crore for the April-June quarter of the current financial year, from Rs 1,709 crore in the same quarter of 2023-24.

Mumbai, July 27: ICICI Bank on Saturday reported a 14.6 per cent increase in net profit to Rs 11,059 crore for the April-June quarter of the current financial year compared to the corresponding figure of Rs 9,648.2 crore in the same period last year.

New Delhi, July 27: Government-owned Punjab National Bank (PNB) on Saturday reported a 159 per cent surge in its net profit to Rs 3,252 crore for the April-June quarter of 2024.25 compared to the corresponding figure of Rs 1,255 crore in the same quarter of 2023-24.

Mumbai, July 27: ICICI Bank, on Saturday, reported a 14.6 per cent increase in net profit to Rs 11,059 crore for the April-June quarter of the current financial year compared to the corresponding figure of Rs 9,648.2 crore in the same period last year.

Mumbai, July 25: Canara Bank on Thursday reported a 10.5 per cent jump in net profit for the April-June quarter of the current financial year to Rs 3,905 crore, compared to the corresponding figure of Rs 3,534 crore in the same quarter of last year.

New Delhi, July 24: Axis Bank on Wednesday reported a net profit of Rs 6,035 crore for the April-June quarter of 2024-25, up 4 per cent from the corresponding figure of Rs 5,797.1 crore in the same period of 2023-24.

New Delhi, July 20: Private sector lender Yes Bank on Saturday reported a standalone net profit of Rs 502 crore for the April-June quarter of 2024-25 which represents a 47 per cent jump over the corresponding figure of Rs 342.5 crore for the same period of the previous year.

New Delhi, July 20 : HDFC Bank on Saturday reported a 35 per cent increase in net profit to Rs 16,175 crore for the April-June quarter of the current financial year from Rs 11,952 crore in the same period of 2023-24.

Mumbai, July 15: The country's largest lender State Bank of India (SBI) has raised its benchmark marginal cost of lending rate (MCLR) by 5-10 basis points with effect from Monday (July 15).

New Delhi, July 9: Asserting that banks are in good condition, SBI Research suggested that the central government should take a stance on the disinvestment of public sector banks (PSBs).

New Delhi, July 8: Recognizing the critical role of MSMEs, SBI Research has advocated for a dedicated Production Linked Incentive (PLI) scheme tailored specifically to their unique needs, which could further enhance their sectoral contribution and facilitate broader economic growth across industries such as textiles, garments, food processing, electronics, and more.

New Delhi, July 8: India's private sector banks have emerged as significant gainers in market capitalization over the last quarter, with Axis Bank Ltd. stood out with 20.9 per cent rise in market capitalization, reaching 3.911 trillion rupees, according to the latest analysis by S&P Global Market Intelligence.

New Delhi, June 17: Indian banks have bounced back over the last 10 years with a 4-fold increase in profits and a sharp decline in bad loans, according to a report by capital markets and investment group CLSA.

London, June 12: Investing in mutual funds can be a powerful way to grow your wealth and reach your financial goals.