Finance News

Bank of Maharashtra to raise up to Rs 1,000 crore from share sale in Q4: MD State-owned Bank of Maharashtra (BoM) on Monday said it proposes to raise up to Rs 1,000 crore from qualified institutions placement (QIP) in the January-March quarter to meet minimum public shareholding (MPS) norms of market regulator Sebi. The bank has initiated the ...

Axis Bank tops Re-bond league table for 16th consecutive year in 2022 Axis Bank has trumped every competitor for the 16th consecutive year in 2022 as a rupee domestic bond issue arranger, cornering 19.20 per cent market share or Rs 92,904.5 crore across 127 issuances. Significantly, the top three spots are retained by private sector lenders with the ...

Rupee pares initial gains, falls 21 paise to close at 81.59 against dollar The rupee pared initial gains and settled 21 paise lower at 81.59 (provisional) against the US dollar on Monday, tracking a rebound in the greenback overseas and a muted trend in domestic equities. Forex traders said risk aversion in international markets and sustained foreign fund ...

Federal Bank December quarter profit increases 54% to Rs 804 crore Private sector lender Federal Bank on Monday posted a 54 per cent rise in its profit at Rs 804 crore in the third quarter ended December 2022, on higher net interest income and improved asset quality. The bank had posted a net profit of Rs 522 crore ...

Sidbi partners with VFS to extend MSME loans up to Rs 5 lakh at 13% pa The Small Industries Development Bank of India (SIDBI) has entered into a partnership with VFS Capital to extend loans to the MSME sector, the Kolkata-based microfinance institution said. VFS Capital will extend MSME loans upto Rs 5 lakh at ...

Govt extends tenure of Bank of Baroda MD Sanjiv Chadha by 5 months The government has extended the tenure of managing director (MD) and CEO of Bank of Baroda (BoB) Sanjiv Chadha for about five months till June 30. The order dated January 14, 2023 comes ahead of his three-year tenure that ends on January ...

Delhi Police arrests RBL Bank’s ex-assistant V-P in Rs 19 cr cheating scam The Economic Offences Wing (EOW) of Delhi Police has arrested a former assistant vice president of the RBL bank for allegedly transferring Rs 19.80 crore from bank’s two accounts to his own accounts in other banks. The accused, identified as Nagendra Kumar ...

HDFC Bank’s profit rises 18.5% to Rs 12,260 crore in Q3, NII grows 24.6% The country’s largest private sector lender HDFC Bank on Saturday reported an 18.5 per cent increase in its standalone net profit at Rs 12,259.5 crore for the third quarter ended December 2022. The bank had earned a net profit of Rs ...

HDFC Bank’s Q3 net profit jumps 18.5% YoY on healthy interest income growth India’s largest private lender HDFC Bank on Saturday reported an 18.5 per cent year-on-year (YoY) increase in net profit to Rs 12,259 crore in the third quarter of FY23 as healthy growth in net interest income boosted the bank’s bottomline, said the company’s BSE ...

India lets banks use face recognition, iris scan for transactions: Rpts The Indian government is allowing banks to verify individual transactions that exceed a certain annual limit using facial recognition and an iris scan in some cases, in a bid to reduce fraud and tax evasion, three sources told Reuters. A few large private and ...