Lala Lajpat Rai played an instrumental role in founding the present-day PNB in 1894 and was the first to open an account with the bank.
HSBC left private banking space in India in 2015; surge in number of super-rich and buoyant stock market makes banking giant explore a re-entry.
SBI posts 66.7% rise in Q2 net profit to Rs 7,627 crore on back of asset quality improvement and lower provisioning.
In gesture of support for Pratip Chaudhuri, SBI chairman Dinesh Khara said executives at top level in the bank don’t get involved in small ticket loans.
Union Bank of India ups recovery target for FY22 to Rs 16,000 crore from Rs 13,000 cr; recoveries & upgrades touch Rs 10,000 cr in first half of FY22.
Pratip Chaudhuri arrested on allegations of selling hotel property at undervalued price after declaring it NPA; prompts senior bankers to come to his defense and SBI says all due processes followed in asset sale.
Punjab & Sind Bank reported Q2 net profit of Rs 218 crore compared to a net loss of Rs 401 crore in the year-ago quarter.
Indian Bank Q2 net profit at Rs 1,089 crore is up 164% YoY; two accounts of Srei group, worth Rs 1,800 crore, classified as NPA.
The reappointment of Shaktikanta Das for three more years till December 2024 signals continuity of monetary policy and gives greater stability to government-RBI relations.
Union Bank of India has reduced its interest rates on home loan to an all-time low of 6.40%, going below competitors like State Bank of India and becoming the most competitive in the industry.
Indian Overseas Bank, which came out of RBI’s PCA, has reported a 2.5-fold jump in Q2 net to Rs 376 crore compared to Rs 148 crore a year ago
Axis Bank reported a net profit of Rs 3,133 cr in Q2 on the back of elevated loan growth, lower provisioning and better asset quality.
Kotak Mahindra Bank posts 7% fall in standalone net profit to Rs 2,032 crore in September quarter; gross NPA ratio stands at 3.19%.
RBI brings NBFCs under 4-tiered regulatory structure based on their size, activity and perceived riskiness; also sets ceiling of Rs 1 cr per borrower for financing subscriptions to IPO.
Historic quarterly net profit of Rs 5,511 crore in Q2 comes on back of a 25% core income growth; retail loans continue to pump up growth but see rise in delinquencies.
