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Banking & Financial sector

SBI Life Insurance debuts on bourses at 5% premium

SBI Life Insurance debuts on bourses at 5% premium

Tue, Oct 03, 2017

SBI Life, which is a subsidiary of State Bank of India, had raised up to Rs 8,400 crore via IPO (initial public offer). Its three-day IPO was oversubscribed by 3.58 times.

ICICI Bank launches new home loan 'Cashback' facility for its customers; This is what offer is

ICICI Bank launches new home loan 'Cashback' facility for its customers; This is what offer is

Thu, Sep 28, 2017

The new home loan 'Cashback', offers borrowers the benefit of 1% cashback on every EMI, for the entire tenure of the loan.

SBI revises service charges for Monthly Average Balance; six categories of accounts exempted

SBI revises service charges for Monthly Average Balance; six categories of accounts exempted

Mon, Sep 25, 2017

State Bank of India also decided to treat the metro and urban centres in the same category and the requirement of MAB in metro centres stands reduced to Rs 3000 from Rs 5000 earlier.

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Axis Bank's Q3 net profit drops by 73%; bad loans rise

Axis Bank's Q3 net profit drops by 73%; bad loans rise

Thu, Jan 19, 2017

As on 31st December 2016, the Bank’s Gross NPA was Rs 20,467 crores against Rs 16,379 crores as on 30th September 2016.

Profits improve as India Inc focuses on repaying loans

Profits improve as India Inc focuses on repaying loans

Thu, Jan 19, 2017

The banking sector and India Inc has been a story of over-leveraging for quite some time now. With non-performing assets (NPAs) and bad loans rising, deleveraging has been one of the major themes for corporate India in 2016. Also, the strategy seems to be paying off.

Yes Bank posts 31% rise in Q3 net profit

Yes Bank posts 31% rise in Q3 net profit

Thu, Jan 19, 2017

NIM expanded to 3.5% for Q3FY17 from 3.4% in Q2FY17.

Cheaper home loans: HDFC cut retail prime lending rate for existing customers

Cheaper home loans: HDFC cut retail prime lending rate for existing customers

Thu, Jan 19, 2017

The company said that this interest rate cut will benefit all existing customers.

PhonePe urges ICICI Bank to give reasons for blocking transactions

PhonePe urges ICICI Bank to give reasons for blocking transactions

Tue, Jan 17, 2017

In August, Flipkart's PhonePe subsidiary had partnered with Yes Bank to introduce unified payment interface (UPI) based mobile payments app.

NSE to interview candidates for CEO this week

NSE to interview candidates for CEO this week

Sun, Jan 15, 2017

National Stock Exchange (NSE) is likely to start the interview process this week for the Managing Director and CEO post, for which eight to ten candidates are in serious contention.

NCDRC asks bank to pay Rs 50,000 for delay in processing cheque

NCDRC asks bank to pay Rs 50,000 for delay in processing cheque

Sun, Jan 15, 2017

Indian Overseas Bank has been asked to pay Rs 50,000 by the apex consumer commission to a man for delaying the crediting of a cheque amount of Rs 24,652.82 into his account.

Home loans: Bank of Baroda outshines State Bank of India?

Home loans: Bank of Baroda outshines State Bank of India?

Wed, Jan 11, 2017

Presently, other banks charge around Rs 5000-Rs 10,000 to switch loans rate to new loan rate.

UCO Bank cuts lending rate by up to 0.8%

UCO Bank cuts lending rate by up to 0.8%

Tue, Jan 10, 2017

Public sector lender UCO Bank today slashed its benchmark lending rate by up to 0.8 % in line with market competition. The bank has reduced marginal cost of funds based lending rate (MCLR) by 0.7 % to 8.60 % for 1 year tenor, UCO Bank said in a filing to stock exchanges.

Demonetisation impact: Banks' loan growth likely to drop by 5% in Q3FY17

Demonetisation impact: Banks' loan growth likely to drop by 5% in Q3FY17

Fri, Jan 06, 2017

Repayments from loans completing the restructuring moratorium were higher during the quarter.

Kotak Mahindra Bank cut base rate by 10 bps, shares trade high

Kotak Mahindra Bank cut base rate by 10 bps, shares trade high

Fri, Jan 06, 2017

Earlier this week, the bank had announced that it has reduced the MCLR by up to 45 bps.

Now, Canara Bank and HDFC Bank reduces MCLR rate

Now, Canara Bank and HDFC Bank reduces MCLR rate

Wed, Jan 04, 2017

The revised MCLR will be effective from Saturday, January 7, 2017, the bank said.

Indian mutual fund industry soon to touch Rs 20 lakh crore

Indian mutual fund industry soon to touch Rs 20 lakh crore

Wed, Jan 04, 2017

The assets under management (AUM) of the Indian mutual industry are expected to touch Rs 20 lakh crore soon, said a top official of Reliance Nippon Life Asset Management Ltd. (Reliance Mutual Fund).

SBI pushes merger of 5 associate banks, BMB to next fiscal

SBI pushes merger of 5 associate banks, BMB to next fiscal

Mon, Jan 02, 2017

State Bank chairperson Arundhati Bhattacharya today hinted that the mega merger of its five associate banks and Bharatiya Mahila Bank (BMB) could be pushed to the next financial year as it is still awaiting the government notification on the move.

PEs pull out record $10 billion after solid show in 2015

PEs pull out record $10 billion after solid show in 2015

Mon, Jan 02, 2017

Global private equity (PE) players made good a sudden jump in valuation of their investments in 2016 and chose to pull out a record $10.3 billion from domestic markets. The value of PE investment was stagnant, or even in some cases declined, over the past one decade.

Here are new SBI interest rates for your home loans

Here are new SBI interest rates for your home loans

Mon, Jan 02, 2017

At 1148 hours, the shares of the bank were trading at Rs 244 per piece.

Bank of India picks Shanker Iyer as CFO from January 1

Bank of India picks Shanker Iyer as CFO from January 1

Mon, Jan 02, 2017

Bank of India (BOI) on Monday announced the appointment of Shanker Iyer as Chief Financial Officer of the bank from January 1.

Fairfax Financial buys 51% stake in Kerala-based Catholic Syrian Bank

Fairfax Financial buys 51% stake in Kerala-based Catholic Syrian Bank

Fri, Dec 30, 2016

This is the first time the central bank has allowed a bank to sell majority stake to a single private investor.

China to relax curbs on foreign investment in banking, securities

China to relax curbs on foreign investment in banking, securities

Fri, Dec 30, 2016

China will focus on freeing up foreign investment in banking, insurance, securities and futures as part of a wider opening up of the services sector, the country`s state planner said in a document on Friday.

IFCI surge 14% as NSE files draft papers with Sebi for IPO

IFCI surge 14% as NSE files draft papers with Sebi for IPO

Thu, Dec 29, 2016

IFCI, holds around 3% of stake in NSE.

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