RBI shelves plan to introduce plastic currency due to concerns about these notes withstanding Indian climatic conditions under high temperatures, writes Hargovind Sachdev.
Bank of Baroda slashes car loan interest rate from 7.25% to 7% per annum; also reduces processing charges to a flat Rs 1,500.
Yes Bank has returned to full-fiscal profitability since 2018-19 but the main issue of moving its bad loans to an ARC, which it wants to partly own, continues to be elusive.
IDFC First Bank has reported 168% YoY jump in net profit to Rs 343 crore in Q4 on back of lower provisions and higher net interest income.
HDFC hikes home loan interest rate for existing borrowers by five basis points; earlier, SBI and some other lenders had increased their MCLR by 5-10 bps.
Indian economy is expected to overcome Covid-19 losses by FY35, a RBI report has said.
Axis Bank’s loan book in Q4 of FY22 grew 15% YoY while deposits surged 19%. Asset quality improved with net NPA dropping to 0.73%.
Surge in Q4 net profit came on back of healthy growth in net interest income and steep fall in bad loan provisions; Bank of Maharashtra to raise Rs 5,000 cr in FY23.
Top management of LIC will exit from IDBI Bank soon, said DIPAM secretary Tuhin Kanta Pandey; motion is in process, he added.
ICICI Bank ED Vishakha Mulye will join Aditya Birla Capital on 1 June; Rakesh Jha to be wholetime director and Anindya Banerjee take over as group CFO of ICICI Bank.
ICICI Bank Q4 net up 59.4% to Rs 7,018.71 crore on the back of improved asset quality, less provisions and a strong loan book growth.
Bank of Baroda reduces home loan interest rates by 25 basis points to 6.50%; many of the bank’s home loan portfolio got refinanced by other banks at lower rates of interest.
The pre-requisite is a minimum net-owned fund of Rs 100 crore and subject to such terms and conditions as the RBI may specify in this regard from time to time.
As per the RBI rules, issue of unsolicited cards and upgradation of existing cards without prior consent from customers is prohibited; there are other tightening of rules.
RBI has laid down new guidelines for NBFCs on large exposures, lending to directors and sought additional disclosures in their notes to accounts.
