ICICI Bank, PNB hike external benchmark based lending rates
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ICICI Bank, PNB hike external benchmark based lending rates
Two major banks -- and -- raised their lending rates after the RBI increased the benchmark interest rate by 0.50 per cent on Friday. The Reserve Bank of India (RBI) increased the key policy repo rate -- at which it lends short-term money to banks -- by
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Long Covid: Retail slippages at private banks surge again
Private sector banks have seen high slippages in their retail portfolio as per their fiscal first-quarter results, as loans restructured during the Covid period continued to slip into the bad loan category. Top banks including , and have reported higher slippages in retail books, contributed by micro
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Cerberus offers to buy ARCION ARC to be eligible bidder for Yes Bank’s NPA pool
Private equity investor Cerberus Capital has offered to acquire ARCION Revitalization Pvt Ltd, an asset reconstruction company (ARC), to be on an equal footing with J. C. Flowers ARC in the race to win the Rs 48,000-crore stressed loan portfolio of , people aware of the development told ET. ARCION
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IFSCA to ensure better access to credit for Indian companies at GIFT City: Chairperson
International Financial Services Centres Authority, the unified regulator for Gujarat GIFT City, is set to supplement the efforts of local regulators to bring back the flow of foreign capital to India. Efforts of the regulator will give Indian companies better access to global capital with nearly two dozen banks,
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PFRDA gives nod to HDFC, HDFC Bank merger proposal
on Friday said it has received pension fund regulator PFRDA nod for the merger proposal of its parent HDFC Ltd with itself. Touted as the biggest transaction in India's corporate history, HDFC Bank on April 4 agreed to take over the biggest domestic mortgage lender in a deal
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Banks raise foreign currency deposit rates in response to RBI relaxation last week
India's top banks including SBI, , and have raised interest rates on foreign currency non-resident deposits. This in response to the Reserve Bank's relaxation last week to shore up forex inflows. The country's largest private sector lender has also revised the rates on foreign currency (non-resident) deposits.
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Loan growth, higher margins, lower costs to drive bank bottom lines in Q1
Indian banks are expected to post strong core earnings growth in the June quarter, with healthy traction in advances, improved margins and decline in credit costs. However, rising yields could result in marked-to-market losses impacting the earnings momentum. Almost all analysts expect credit growth for the banking system will be
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GST lens on bank arms using parent’s brand name, log or tagline
Some top financial institutions have come under the taxman's lens for goods and services tax (GST) on royalty from subsidiaries for use of the parent's brand name, logo, or tagline. The tax department has told the banks in recent meetings that if a mutual fund unit uses any brand
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SBI, HDFC Bank, ICICI Bank acquire 9.54% stake each in Perfios Account Aggregation Services
(SBI), HDFC Bank and ICICI Bank on Tuesday acquired a 9.54 per cent stake each in Perfios Account Aggregation Services Private Limited (Perfios AA). These banks acquired 8,05,520 equity shares each by paying Rs 4.03 crore each for the stakes. The lenders bought the shares at a price of Rs
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