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General insurers report lower growth in premium underwritten in first quarter

July 22, 2024 05:20 IST

The industry's demand will be sustained by robust growth in the health segment as well as in the motor segment.

HDFC Bank’s Q1 net up 35%, interest income surges 26%

July 21, 2024 03:33 IST

Net interest income (NII), which is interest earned less interest expended, grew by 26.4 per cent to Rs 29,840 crore in Q1 FY2025, as against Rs 23,600 crore in the same quarter of last fiscal.

Not thinking of giving banking license to business houses at present: RBI Governor Shaktikanta Das

July 20, 2024 07:01 IST

The Governor, however, said that the RBI was open to receiving new applications for setting up universal banks.

HDFC Bank to grow advances a little slower than deposits

July 19, 2024 05:19 IST

Prior to the merger with HDFC Ltd, the bank’s CD ratio was around 85 per cent. Post the merger, the CD ratio stood at 105 per cent (as on March 31, 2024).

SBI, BoB raise MCLR by 5-10 bps

July 16, 2024 05:30 IST

At the end of March 2024, the share of EBLR linked loans in total outstanding floating rate rupee loans of banks was 57.5 per cent while that of MCLR linked loans was 38.3 per cent.

Need tax breaks for skills training, loans: NSDC to Finance Ministry

July 15, 2024 07:17 IST

The government owns 49 per cent of NSDC and the remaining 51 per cent is held by the private sector.

SBI raises Rs 10,000 crore through long-term infrastructure bonds

July 11, 2024 08:46 IST

The issue received bids in excess of Rs 18,145 crore and was oversubscribed by around 3.6 times against the base issue size of Rs 5,000 crore, the bank said.

RBI cautions banks against ‘lakhs of accounts’ used for fraudulent transactions, evergreening

July 10, 2024 07:48 IST

“CFOs to maintain open and honest communication channels with auditors and bank supervisors", BI Deputy Governor said.

Employment rate rises 6% provisionally in FY24 from 3.2% in FY23: RBI data

July 9, 2024 05:00 IST

Female unemployment rate declined from 9.2 per cent in January–March 2023 to 8.5 per cent in January–March 2024.

RBI governor Shaktikanta Das asks banks to strengthen governance, risk management

July 3, 2024 22:21 IST

The governor in his opening remarks noted the continued improvement in banks' asset quality, loan provisioning, capital adequacy, and profitability, the RBI said in a statement.

Credit card spends treble in three years to Rs 18.31 lakh crore

July 3, 2024 04:37 IST

The number of credit cards issued by banks also rose rapidly to 10.18 crore as of March 2024 from 8.53 crore in March 2023, 7.36 crore in March 2022 and 6.20 crore in March 2021, RBI data shows.

Growth in private corporate sector sales moderates to 4.7% in FY24: RBI data

June 30, 2024 04:48 IST

In the fiscal ended March 31, 2024, operating profit margin improved across major sectors during 2023-24; it stood at 14.4 per cent, 22.4 per cent and 22.7 per cent for manufacturing, non-IT services and IT companies, respectively.

FSIB recommends Setty for SBI Chairman post

July 1, 2024 09:54 IST

SBI’s current Chairman Dinesh Kumar Khara is retiring on August 28, when he turns 63.

Home loan outstanding grows by Rs 3.4 lakh crore in 12 months: RBI

June 29, 2024 04:15 IST

Credit card outstanding rose by 26.2 per cent, or around Rs 55,000 crore, to Rs 2.67 lakh crore in May this year as against a growth of 31.5 per cent at Rs 2.12 lakh crore a year ago, RBI data shows.

RBI raises concern over higher delinquency levels in sub-Rs 50,000 personal loans

June 28, 2024 04:37 IST

The RBI said in the consumer credit segment more than half of the borrowers have three live loans running at the same time.

Revisions to HDFC Bank Credit Card terms from August 1: Know new charges, late payment fees

June 27, 2024 23:06 IST

HDFC Bank has introduced significant changes for its credit card holders regarding terms, payments and charges

General insurance sector gets Rs 18,000 crore GST bonanza

June 26, 2024 05:15 IST

The GST demand was on co-insurance and reinsurance commissions and taxing of reinsurance on crop schemes.

Unambiguous commitment needed to bring down inflation to 4% target: RBI Governor Das

June 26, 2024 07:25 IST

The Governor said that inflation has been easing but the pace of moderation is slow. In May, the consumer price-based inflation (CPI) softened to 4.7 per cent from 4.8 per cent in April.

SEBI orders Religare to apply for approvals for open offer by Burmans

June 21, 2024 05:30 IST

The Burmans attempted to seek the approval of the RBI for change in control / management of REL.

RBI cancels licence of City Co-operative Bank

June 20, 2024 05:15 IST

The bank has failed to comply with the requirements of Sections of the Banking Regulation Act, 1949, the RBI said. “The continuance of the bank is prejudicial to the interests of its depositors.

State Bank of India to raise Rs 200 billion via long-term bonds in FY25

June 19, 2024 15:12 IST

Last week, SBI also approved raising $3 billion through a public offer or private placement of senior unsecured notes in U.S. dollars or any other major foreign currency.

SBI raises MCLR by 10 bps across tenors

June 15, 2024 04:30 IST

The revised MCLR for two-year and three-year MCLRs are 8.85 per cent and 8.95 per cent, respectively. The new rates are effective from today.

Sajjid Chinoy on economic agenda ahead at Explained event today

June 13, 2024 08:34 IST

The Reserve Bank of India (RBI) has projected a robust growth outlook for the country with the government’s sustained focus on capital expenditure while maintaining fiscal consolidation.

Consumers expect rise in spending over next one year: RBI survey

June 9, 2024 09:39 IST

Consumer confidence for the current period paused on its uptrend as sentiments on all parameters, except spending, recorded some moderations in the latest survey round, the RBI’s Consumer Confidence Survey showed.

RBI plans new digital platform to check payment fraud risks

June 8, 2024 04:14 IST

Domestic payment frauds jumped by 70.64 per cent to Rs 2,604 crore during the six-month period ended March 2024 from Rs 1,526 crore in the same period of last yea