Finance News

Bajaj Finance Q3 net up 40% to Rs 2,973 cr; highest ever quarterly profit Consumer financier Bajaj Finance reported its highest ever quarterly profit at Rs 2,973 crore in the October-December quarter (Q3) of FY23, up 40 per cent year on year (YoY). The performance was aided by a healthy rise in net interest income (NII) and drop ...

Rupee closes at 81.53 against US dollar amid heavy selling pressure The rupee appreciated 8 paise to close at 81.53 (provisional) against the US dollar on Friday amid a firm American currency against major rivals overseas. However, heavy selling pressure in the domestic equity markets and unabated foreign fund outflows restricted the gains in the ...

Rupee appreciates by 9 paise to 81.52 against US dollar in opening trade The rupee appreciated by 9 paise to 81.52 against the US currency in early trade on Friday as crude oil prices were little changed ahead of the oil cartel OPEC’s meeting. Expectations of FII inflows into Rs 20,000 crore FPO of Adani ...

Tamilnad Bank to keep focus on small biz lending, open 25 new branches Tamilnad Mercantile Bank (TMB) has said it will continue its focus on the retail, agriculture and MSME (RAM) segments, retaining them for 80-85 per cent of its total loan portfolio. The Thoothukudi-based bank will open 25 new branches by March this year, ...

9 out of 10 individual traders in F&O segment making losses Nine out of 10 individual traders in the equity F&O segment incurred net losses during both the years FY 2018-19 and FY 2021-22, according to a study by market regulator SEBI. There has been a significant increase of over 500 per cent in the ...

Private banks post 31.7% YoY growth in Q3, net profit rises to Rs 35,166 cr Reflecting the benefit of repricing of loans and robust credit offtake, private sector banks posted 31.7 per cent growth year-on-year (YoY) in net profit to Rs 35,166 crore in the third quarter ended December 2022 (Q1FY23). Sequentially, net profit rose by 12.6 ...

TVS Credit posts 75% rise in Q3; net profit rises to Rs 97.97 crore TVS Credit Services, a leading non-banking finance company, has posted a 75 per cent rise in net profit during the third quarter of the financial year 2022-23 to Rs 97.97 crore as compared to Rs 55.88 crore during the October to December quarter ...

Credit card spends in Dec cross Rs 1 trillion for 10th month in a row After a sequential fall in November, due to high base and waning of the festival season effect, credit card spends have picked up again in December, recording over Rs 1 trillion for the 10th consecutive month. Latest figures released by ...

Securitisation of stressed assets: RBI floats paper on regulatory purview Securitisation refers to a process that includes the pooling of loans and selling them to an SPE, which then issues securities backed by the loan pool. In the case of securitisation of stressed assets, the originator of non-performing assets (NPAs) sells them to an SPE, which in turn appoints ...

Digital currency to further bolster digital economy, says RBI’s Ajay Kumar Digital currency will further bolster the digital economy, make payment system more efficient, reduce cost involved in physical cash management and also contribute to further financial inclusion, RBI Executive Director Ajay Kumar Choudhary said on Wednesday. Chaudhary was addressing an outreach seminar on ‘Central ...