Bank of Baroda slashes Baroda Repo Linked Lending Rate to 6.85% from 7%.
Axis Bank has been improving its asset quality through series of write-offs and upgrades and recoveries. In the last one year, it has written off over Rs 9,448 crore worth of assets.
Axis Bank improves provision coverage ratio to 77% and sets aside Rs 5,012 crore as Covid provision. Bank continues to be cautious on credit card and personal loans.
SBI inks loan agreement up to $1bn with JBIC to fund biz ops of Japanese automobile manufacturers in India.
Loans worth Rs 2,300 crore have slipped into default but are not categorised as NPAs due to SC order. Another Rs 4,000 crore of loans are at risk.
Yes Bank posts net profit of Rs 129.37 crore for quarter ended 30 Sep; asset quality shows some improvement but continues to be a matter of concern.
RBL Bank's Q2 standalone net profit grew on back of growth in retail lending, higher fee income, lower operating costs and less provisioning compared to last year.
Kotak Mahindra Bank is reportedly in talks to acquire IndusInd Bank in an all-stock deal.
Federal Bank is expecting to restructure loans worth Rs 3,500 cr, or 2.5-3% of its total advances, after the moratorium ends. Bank has made provisioning of 10%.
Lakshmi Vilas Bank, which badly needs capital to meet regulatory requirements, has got board approval to raise up to Rs 500 crore through a rights issue.
Equitas Small Finance Bank fixes price band at Rs 32-33 per share as it plans to raise Rs 517.6 crore via IPO.
Kotak Bank customers can now link their debit and/or credit card to Google Pay and then seamlessly transact using their mobile phones across different payment platforms.
Banks have headroom to raise Rs 3.75 lakh crore from the bond market as RBI increases SLR to 22%.
Banks could not generate new loans, except for refinance opportunities, as all branches remained closed in the first nationwide lockdown.
Bad loans in the banking system are pegged at Rs 9 trillion.
