Finance News

Indian Bank unveils QR bill-based payment system for CESC-Mysuru Public sector Indian Bank on Sunday said it has unveiled QR code bill payment system for Chamundeshwari Electricity Supply Corporation Ltd (CESC) making it as the first power distribution company to offer such an initiative to customers in Mysuru. By using the dynamic QR code linked ...

UPI processes record 7.82 bn transactions in December, ends 2022 on a high India’s flagship payment platform, the Unified Payments Interface (UPI), ended the 2022 calendar year on a high note as the volume of transactions touched a record 7.82 billion in December, amounting to Rs 12.82 trillion, again a record high. Data released by ...

Canara Bank looks to grow business to Rs 30 trillion in five years After crossing business growth of Rs 20 trillion in December, public sector lender Canara Bank is looking to grow its business – deposits plus advances – to Rs 30 trillion in about five years. As of March 2020, that is before amalgamation ...

J&K Bank raises Rs 1000 crore capital as Tier-II Bonds Jammu and Kashmir Bank on Saturday said it has raised Rs 1,021 crore as Tier-II bonds from the market as part of its efforts to strengthen its capital position. The issue was oversubscribed by more than 100 per cent, J K Bank MD & CEO ...

Sundaram Finance to revise interest rate on term deposits from Jan 1 Non-banking finance company Sundaram Finance would revise interest rate on its term deposits with effect from January 1, the city-based firm said on Saturday. Accordingly, the rate on 12-month deposit would be increased to 7.20 per cent, 7.50 per cent for a tenure ...

Indian bank credit growth to be stronger in Q4FY23, says Emkay Global After years of lackluster performance, the Indian banking sector has been a clear outperformer in 2022 and the credit growth in Q4FY23 is expected to be stronger, said Emkay Global Financial Services Ltd. According to a report by Emkay Global, the Indian banking ...

Ajay Kumar Srivastava becomes new MD and CEO of Indian Overseas Bank Ajay Kumar Srivastava has been elevated as Managing Director and CEO of Indian Overseas Bank with effect from January 1, 2023 from his current posting as executive director. He started his banking career as a probationary officer in 1991 with Allahabad Bank where ...

Top Headlines: SBI, LIC set to see new faces, worst yr for rupee since 2013 SBI, LIC among key govt-run financial institutions set to see new faces Major state-run financial-sector players like the country’s largest lender, State Bank of India (SBI), and the largest life insurer, Life Insurance Corporation (LIC), are likely to see a change of the ...

Rupee likely to leave its worst behind; inflows crucial in 2023: Analysts The Indian rupee is likely to hold in a tight range in the early part of 2023 but the worst is possibly behind it, said traders and analysts. The local currency has hovered close to its lifetime lows through most of December, but ...

Plan to open more branches across country: MD & CEO of TMB Private sector Tamilnad Mercantile Bank Ltd (TMB) has drawn up plans to strengthen itself by opening up additional branches across the country in the near future, said a top official of the bank on Friday. The over-a-century old bank recently inaugurated its 510 ...