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HDFC Bank launches savings account product

HDFC Bank launches savings account product

Wed, Nov 27, 2024

HDFC Bank on Wednesday launched a new savings account product directed at the semi-urban and rural population. Through the 'Pragati Savings Account', the largest private sector lender is targeting farmers, self-employed individuals, rural residents, self-help groups, and cooperatives, as per a statement.

Cedar-IBSi Capital to fund 10-15 startups in fintech sector

Cedar-IBSi Capital to fund 10-15 startups in fintech sector

Sat, Nov 16, 2024

Cedar-IBSi Capital on Saturday said it is looking to invest in 10-15 startups working in the banking and insurance technology segment to expand its footprint in the country. "The fund plans to build a portfolio of the companies, allocating a budget within the range of Rs 4-10 crore, with an intensified focus on financially strengthening 8 to 10 high-performing companies," it said.

Latest FD Interest Rates: SBI, PNB, HDFC Bank, ICICI Bank, other lenders pay these returns on 3-year deposits now

Latest FD Interest Rates: SBI, PNB, HDFC Bank, ICICI Bank, other lenders pay these returns on 3-year deposits now

Fri, Nov 15, 2024

Latest FD Rates: Fixed Deposits, commonly known as FDs, are a popular investment choice for those seeking safe, predictable returns. With FDs, you invest a lump sum amount for a specific period of time with a bank.

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RCB ropes in Equitas Small Finance Bank as banking partner for 2023 season of T20

RCB ropes in Equitas Small Finance Bank as banking partner for 2023 season of T20

Wed, Mar 15, 2023

"Equitas Small Finance Bank partners with India's most beloved T20 team -- Royal Challengers Bangalore aka RCB -- as their 'proud banking partner' for the 2023 season of T20 League," Equitas said.

Credit Suisse' Neelkanth Mishra quits, set to join Axis Bank

Credit Suisse' Neelkanth Mishra quits, set to join Axis Bank

Wed, Mar 15, 2023

Neelkanth Mishra, co-head of Asia Pacific strategy and head of securities research of Credit Suisse in India, has quit from his position, Bloomberg reported citing people familiar with the development.

India Post Payment Bank wants to convert itself to universal bank: CEO J Venkatramu

India Post Payment Bank wants to convert itself to universal bank: CEO J Venkatramu

Tue, Mar 14, 2023

India Post Payments Bank (IPPB) wants to convert itself to a universal bank as the vast network of post office branches would help in achieving financial inclusion, its MD and CEO J Venkatramu said on Tuesday.

Sumant Kathpalia re-appointed MD & CEO of IndusInd Bank

Sumant Kathpalia re-appointed MD & CEO of IndusInd Bank

Sat, Mar 11, 2023

Kathpalia has successfully led several leadership roles in his career spanning over 30 years with focus on driving business growth and innovation.

Bank holiday on Holi: Banks to remain closed in these states on March 7, 8 - check full list

Bank holiday on Holi: Banks to remain closed in these states on March 7, 8 - check full list

Tue, Mar 07, 2023

Bank holidays differ depending on the state. In few states or cities, banks will remain closed on March 9 as well. In total, banks will remain closed for as many as 12 days in the month of March. Other than Holi, there are five more holidays left in March for banks.

Deposit mobilisation, higher provisions challenge for banking in FY24: Report

Deposit mobilisation, higher provisions challenge for banking in FY24: Report

Thu, Mar 02, 2023

Maintaining its neutral outlook on the important sector for the economy for the upcoming fiscal year, India Ratings and Research said the key financial metrics are likely to improve further in FY24 on stronger balance sheets, higher credit demand and more stability in interest rates.

Moody's says India's growth potential fundamentally strong, maintains stable outlook on banks

Moody's says India's growth potential fundamentally strong, maintains stable outlook on banks

Wed, Mar 01, 2023

"Banks' profitability will stabilise after improving in the past few years as the boost from declines in loan-loss provisions wanes. Banks' capital, funding and liquidity will be stable and supportive of credit growth," Moody's said.

Bank Holidays in March 2023: Banks to remain closed for 12 days - Check full list

Bank Holidays in March 2023: Banks to remain closed for 12 days - Check full list

Sat, Feb 25, 2023

Bank Holidays in March 2023: Banks will remain closed for as many as 12 days, including the second and fourth Saturdays and all Sundays in the next month.

RBI imposes restrictions on 5 co-operative banks

RBI imposes restrictions on 5 co-operative banks

Fri, Feb 24, 2023

With restrictions in place, the banks, without prior approval of RBI, cannot grant loans, make any investment, incur any liability, and transfer or otherwise dispose of any of its properties.

RBI issues final guidelines on interest rate risk in banking book

RBI issues final guidelines on interest rate risk in banking book

Fri, Feb 17, 2023

Excessive IRRBB can pose a significant risk to banks' current capital base and/or future earnings, stated RBI.

Bank strike on January 30 and 31? Unions want 5 days work, scrapping NPS among others

Bank strike on January 30 and 31? Unions want 5 days work, scrapping NPS among others

Thu, Jan 26, 2023

The status of the two-day strike announced by the bank unions will be known on January 27 when another round of conciliation meeting between the unions and the management will be held.

Turnaround of Public Sector Banks: A story from doom to bloom; a journey towards Rs 1 lakh cr profit

Turnaround of Public Sector Banks: A story from doom to bloom; a journey towards Rs 1 lakh cr profit

Wed, Jan 04, 2023

The highest amount of net loss was registered in 2017-18 at Rs 85,370 crore, followed by Rs 66,636 crore in 2018-19; Rs 25,941 crore in 2019-20; Rs 17,993 crore in 2015-16 and Rs 11,389 crore in 2016-17.

Banks likely to remain on profitable path in New Year too with robust credit growth

Banks likely to remain on profitable path in New Year too with robust credit growth

Thu, Dec 29, 2022

In the private sector banking space, consolidation remained the flavour, with parent HDFC Ltd deciding to merge with HDFC Bank, and Axis Bank announcing the takeover of the retail portfolio of global giant Citibank. These two deals are expected to be completed in 2023.

HDFC gets USD 400 million IFC loan for financing green affordable housing units

HDFC gets USD 400 million IFC loan for financing green affordable housing units

Sat, Dec 24, 2022

It is estimated that 275 million people in the country or 22 per cent of the over 1.4 billion population do not have access to adequate housing, and rural housing shortage is twice that of urban areas.

Reserve Bank shortlists 7 global consultancy firms to use AI, ML to improve regulatory supervision

Reserve Bank shortlists 7 global consultancy firms to use AI, ML to improve regulatory supervision

Sun, Dec 11, 2022

The RBI is looking to extensively use advanced analytics, artificial intelligence and machine learning to analyse its huge database and improve regulatory supervision over banks and NBFCs. For this purpose, the central bank plans to hire external experts.

Indian Overseas Bank revises interest rates with immediate effect

Indian Overseas Bank revises interest rates with immediate effect

Sun, Dec 11, 2022

Depositors of domestic, non-resident external would receive interest rates up to 7.30 per cent by opening a term deposit with a tenure of 444 days and up to 7.25 per cent for a period of three years and above, Indian Overseas Bank said in a statement here.

Tamilnad Mercantile Bank partners with Bajaj Allianz Life Insurance to offer retail products to customers

Tamilnad Mercantile Bank partners with Bajaj Allianz Life Insurance to offer retail products to customers

Sat, Dec 10, 2022

New and existing customers of the bank would be able to avail the services of Bajaj Allianze Life offerings include savings, retirement and investment products under this strategic partnership.

Hours after monetary policy decision, several banks follow RBI's signal; hike lending rates

Hours after monetary policy decision, several banks follow RBI's signal; hike lending rates

Thu, Dec 08, 2022

The effective Repo Based Lending Rate (RBLR) with effect from December 7 is 9.10 per cent as per the revised repo rate (6.25 per cent), state-owned Bank of India posted on its website. Private sector HDFC Bank has hiked its marginal cost of funds-based lending rate (MCLR) effective Wednesday.

IDBI Bank to continue primary dealer business even if foreign bank acquires majority stake: Finance Ministry

IDBI Bank to continue primary dealer business even if foreign bank acquires majority stake: Finance Ministry

Tue, Dec 06, 2022

As part of the primary dealer activity, IDBI Bank is involved in market making activities in respect of G-Secs, including T-bills. IDBI's treasury actively participates in primary auction of government bonds.

Morgan Stanley upbeat on ICICI Bank, sees Rs 320 gain per share

Morgan Stanley upbeat on ICICI Bank, sees Rs 320 gain per share

Mon, Dec 05, 2022

Meanwhile, Jefferies has put a price target of Rs 1150 while maintaining a ‘Buy’ recommendation. In a note, analysts in Jefferies have highlighted bank’s focus on strategic initiatives and priorities including digitalisation and network expansion

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