Boards of HDFC Bank and HDFC approve 1 July as effective date of merger; ahead of this, HDFC chairman Deepak Parekh announces his retirement from the company.
Proposed IPO will comprise fresh issue of equity shares amounting to Rs 950 crore and offer for sale to the tune of Rs 400 crore.
Debadatta Chand takes over from Sanjiv Chadha; he earlier served as executive director of Bank of Baroda since March 2021.
In FY22, aggregate claims settled by DICGC stood at whopping Rs 8,516.6 crore; this was led by Unity Small Finance Bank.
Bad loan ratio for Indian banks touched 10-year low of 3.9% as of March 2023 and could further improve to 3.6% by March 2024, RBI’s financial stability report says.
IDFC First Bank raised Rs 1,500 crore through Basel-III compliant Tier-II bonds maturing in 10 years at a coupon rate of 8.40%.
RBI penalises Standard Chartered Bank-India, TransUnion CIBIL, Equifax Credit Information Services and other entities for contravention of various norms.
More than two-thirds or Rs 2.41 lakh crore worth of the Rs 3.62 lakh crore of the now-recalled 2,000 banknotes have come back to the system as of mid-last week, RBI Governor Shaktikanta Das said.
Lenders of Go First approve in-principle interim funding of Rs 425 crore for crisis-hit airline to fly again.
India’s bank credit growth has been powered by retail lending over the last few years and this is cyclical in nature, according to RBI’s June bulletin.
UPI transactions in May 2023 touched Rs 14.3 trillion in terms of value and 9.41 billion in volume.
A month after RBI started the process of withdrawal of Rs 2,000 notes, over 72% of these have been either exchanged or deposited in banks.
Bringing down inflation will revive consumer spending, boost corporate revenues and profitability, which is the best incentive for private capex, a Reserve Bank paper said.
RBI penalises Axis Bank, Bank of Maharashtra and Jammu & Kashmir Bank for violation of rules.
Minutes of June MPC show differences among the members about future course of rate hikes; Jayanth Varma says monetary policy stance is becoming disconnected from reality.
