Finance News

HDFC Bank’s loan book expands by 19.5%, domestic retail loans grow 21.5% HDFC Bank’s loan book expanded by 19.5 per cent on Year on Year (YoY) basis Rs 15.07 trillion as of December 31, 2022 (Q3FY23), higher than the banking industry’s growth of 17.4 per cent YoY in December. Sequentially, the lender posted a growth of about ...

Outstanding microfinance loan portfolio to rise 20.3% in FY23: MFIN Outstanding loan portfolio of the micro-finance institution (MFI) sector across India will increase around 20.3 per cent at Rs 3.25 lakh crore in 2022-23 compared to the previous fiscal, said the MFIN, a self-regulatory organisation (SRO) recognised by RBI. During the last fiscal, the total ...

HDFC Ltd assigns 19% higher loans worth Rs 8,892 cr in Q3 ending Dec 2022 Mortgage lender HDFC Ltd on Tuesday said it has assigned (sold) 19 per cent higher loans to the tune of Rs 8,892 crore in the third quarter ended December 2022. The corporation had assigned loans amounting to Rs 7,468 crore ...

PNB hikes fixed deposit rates by 50 basis points across various tenures Punjab National Bank (PNB) on Tuesday increased the interest rate of fixed deposits across various tenures by 50 basis points or 0.5 per cent in a bid to attract deposits. Interest rates on term deposits below Rs 2 crore between one year and ...

SBI to raise up to Rs 10,000 crore via infrastructure bonds in Q4 of FY23 State Bank of India (SBI) is planning to raise up to Rs 10,000 crore via infrastructure bonds during the current quarter ending March 2023. The country’s largest lender may float a public offering of these bonds or place them privately, ...

SBI to issue second tranche of infra bonds to meet credit growth: Report By Siddhi Nayak and Dharamraj Dhutia MUMBAI (Reuters) – The State Bank of India has approved raising another 100 billion rupees ($1.21 billion) through infrastructure bonds this quarter to fund credit growth, an official at the nation’s largest lender said on Tuesday. The executive committee ...

Rupee’s threat to slip below 83 per US dollar likely nipped by RBI The Indian rupee declined against the U.S. currency on Tuesday, fuelled by the dollar’s surge versus its major peers and importer hedging, though the Reserve bank of India’s likely intervention kept the drop short of the 83-per-dollar mark. The rupee closed at ...

HDFC Bank partners with Microsoft for digital transformation journey HDFC Bank on Tuesday said it is partnering with Microsoft in the next phase of its digital transformation. The private sector lender is developing in-house IPs as well as partnering with several companies, including FinTechs, to co-create technology IPs, the lender said in a statement. HDFC Bank will leverage ...

MF: Surge in credit to NBFCs takes service sector loans past those to industry Higher credit offtake by non-banking finance companies (NBFCs) has seen credit to the service sector surpassing the quantum of loans from banks to the industrial sector, shows Reserve Bank of India’s latest sectoral deployment data for November 2022. According to the ...

Bank of Maharashtra records 22% loan growth to Rs 1.57 trillion in Q3 State-owned Bank of Maharashtra (BoM) on Tuesday said it has posted a credit growth of 21.81 per cent to Rs 1.57 lakh crore for the third quarter ended December 2022. The outstanding credit was Rs 1.29 lakh crore at the end of ...