Finance News

PSBs write off Rs 29,000 cr in Q3FY23 as part of a clean-up exercise Public-sector banks (PSBs) in Q3FY23 wrote off bad loans worth Rs 29,000 crore, up from Rs 23,000 crore in the same quarter a year ago, as part of a clean-up exercise. According to estimates by rating agency CARE Ratings, the write-offs by PSBs in ...

Rupee gains 13 paise to 82.57 against dollar as US currency retreats The rupee gained 13 paise to 82.57 against the US dollar in early trade on Tuesday as the American currency retreated from its elevated levels. Forex traders said a positive trend in domestic equities and fresh foreign fund inflows also supported investor sentiments. ...

HDFC Bank begins offline payment pilot under RBI sandbox facility The country’s largest private sector lender HDFC Bank on Monday said it is attempting to execute digital payments in an offline mode under a regulatory facility to test innovations. Apart from executing transactions in no network areas, such a facility will be of help in ...

YES Bank approaches Supreme Court against Bombay HC decision on AT-1 bonds YES Bank has approached the Supreme Court to challenge the Bombay High Court’s January 20 order quashing the write-off of the additional tier-1 (AT-1) bonds, a report by BQ Prime said quoting two people aware of the developments. The bank has said that its administrator ...

Rupee depreciates 17 paise to 82.75 against US dollar in early trade The rupee depreciated 17 paise to 82.75 against the US dollar in early trade on Monday, weighed down by a strong American currency and a muted trend in domestic equities. Firm crude oil prices further dented investor sentiments, forex traders said. At ...

City Union Bank posts Q3 net of Rs 217 cr, income grows to Rs 1,429 cr Private sector City Union Bank has registered net profit at Rs 217.83 crore for the October-December 2022 quarter, the Tamil Nadu-based bank said on Saturday. Net profits for the quarter ending December 31, 2022 was at Rs 196.11 crore ...

Kotak Mahindra Bank to acquire Sonata Finance for Rs 537 crore Private sector lender Kotak Mahindra Bank on Friday said it will acquire 100 per cent equity shares of Sonata Finance Pvt Ltd, a non-banking financial company-microfinance institution (NBFC-MFI), from its existing shareholders for Rs 537 crore. The acquisition will be subject to regulatory approvals, ...

State Bank of India expects moderation in growth in global books After witnessing more than 20 per cent year-on-year (YoY) growth in its international loan books till December 2022, State Bank of India (SBI) expects it to moderate to 9-10 per cent. Its overseas books cover India-linked loans, local loans in foreign offices, and trade ...

RBI updates ‘Alert List’ of entities not authorised to deal in forex trade The Reserve Bank on Friday updated its ‘Alert List’ for the public on unauthorised forex trading platforms to include names of entities/platforms/ websites which appear to be promoting such entities. In September last year, the central bank came out with an ‘Alert ...

Bank credit grows at 16.3% in Jan 27 fortnight, shows RBI data Bank credit grew at 16.3 per cent year-on-year (YoY) in the fortnight ended January 27 to Rs 133.41 trillion, latest data by the Reserve Bank of India (RBI) showed, moderating marginally from the growth witnessed till last fortnight (16.5 per cent). In the ...