Bank of Baroda flip-flops on lending rate, giving up policy of bringing down home loan pricing in matter of days as RBI hiked repo.
Supreme Court allows lenders to proceed against promoters, directors and chairman of the company who have given personal guarantees to get corporate loans.
State Bank of India, which reported its highest ever quarterly profit, is looking to grow its loan book to double digit in FY23 with companies beginning their investment cycles.
Bank of Baroda reported net profit of Rs 1,779 crore in Q4 compared to loss of Rs 1,046 in year-ago quarter.
Union Bank of India Q4 net up 8.3% to Rs 1,440 cr; largely led by 21% stake sale in IndiaFirst Life Insurance to Bank of Baroda for Rs 766 cr.
India’s retail inflation gallops to eight-year high of 7.79% in April; RBI set to counter inflation wolf with more rate hikes.
Punjab National Bank’s standalone Q4 net drops 66% YoY to Rs 202 crore; lender sets aside Rs 325 crore on account of fraud.
Board of SBI approves raising up to $2 bn via overseas bond sales during the current financial year.
Federal Bank Q4 net up 3.12% to Rs 540.54 crore, its highest-ever quarter profit; bank eyes credit growth of 15% in FY23.
CSB Bank plans to expand its branch network by 25% every year as it seeks to grow in size; Q4 net jumps to Rs 130.67 cr.
ICICI Bank, Bank of Baroda and Central Bank of India have hiked their lending rates; Kotak Mahindra Bank and Bandhan Bank have upped their deposit rates.
Canara Bank announces dividend of Rs 6.50 per share as FY22 net more than doubles to Rs 5,678 cr; bank also gives 15% performance-linked incentive to staff.
IDBI Bank had a few roadshows to gauge investor interest in sale of LIC’s stake in the lender but nothing significant has come out of it, said CEO Rakesh Sharma.
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.
