Rupee snaps 3-day declining streak, rises 28 paise to 81.41 against dollar Snapping a three-day declining streak, the rupee rebounded 28 paise to close at 81.41 against the US dollar on Wednesday, tracking a weak greenback overseas and a firm trend in domestic equities. However, rising crude oil prices capped the gains, traders said. At the interbank foreign ...

IndusInd Bank posts bigger-than-expected Q3 net jump of 68% to Rs 1,959 cr BENGALURU (Reuters) – Indian private lender IndusInd Bank reported a bigger-than-expected jump in third-quarter profit on Wednesday, lifted by strong loan growth and a drop in provisions for bad loans. The company’s standalone profit, which excludes results of unit Bharat Financial Inclusion, jumped ...

Central Bank Q3 net rises 64.16% at Rs 458 cr on improved margins Central Bank of India’s (Central Bank) net profit rose by 64.16 per cent year-on-year (YoY) to Rs 458 crore in the quarter ended December (Q3 of FY23). This was on the back of an improvement in net interest margin (NIM). The Mumbai-based ...

ING planning return to India by buying controlling stake in IDBI Bank Dutch banking group ING is planning to return to India by buying a controlling stake in the state-owned lender IDBI Bank, The Economic Times reported On Wednesday. Citing two people familiar with the development, the publication reported that ING top brass were in New Delhi ...

Rupee falls 13 paise to 81.82 against US dollar as crude oil price rise The rupee depreciated 13 paise to 81.82 against the US dollar in early trade on Wednesday, as a strengthening American currency and firm crude oil prices weighed on investor sentiments. At the interbank foreign exchange, the domestic unit opened weak at 81.80 against the ...

After hitting road bump in Dec, bank credit growth to regain pace in Q4 After experiencing moderation in YoY growth by the end of December 2022, bank credit in India is expected to regain pace in the fourth quarter of FY23. The bank credit will need to expand by Rs 6.1 trillion in absolute terms ...

Default rate in microfinance sector declining, post-pandemic: Report The microfinance sector is coming out of Covid-induced stress, with the default rate for microfinance institutions (MFIs) declining from 16.7 per cent in June 2021 to 5.3 per cent in March 2022, according to the Inclusive Finance India Report by ACCESS Development Services. With some seasonal and ...

FinMin to meet heads of PSBs on Thursday; to review schemes’ progress The finance ministry has called a meeting of heads of public sector banks and financial institutions to review the progress of various social sector schemes, including Jan Dhan, Mudra, KCC, and PM SVANidhi. The meeting with managing director and CEOs of public sector banks ...

FinMin to meet heads of PSBs; to review progress of various schemes The finance ministry has called a meeting of heads of public sector banks and financial institutions to review the progress of various social sector schemes, including Jan Dhan, Mudra, KCC, and PM SVANidhi. The meeting with managing director and CEOs of public sector banks ...

ICICI Lombard’s net profit rises 11% in Q3 on strong premium income ICICI Lombard General Insurance’s net profit for the December quarter Q3) of FY23 increased 11 per cent year-on-year (YoY) to Rs 353 crore, aided by a healthy rise in gross premiums underwritten. Meanwhile, gross premiums earned by the insurer rose 17 per cent YoY to ...