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Banking Sector

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Bank Of India Net Profit Surges Over Two-Fold To Rs 606 Crore In March Quarter

The total standalone income during the January-March quarter of 2021-22 rose to Rs 11,443.46 crore against Rs 11,155. 53 crore a year ago, Bank of India said in a regulatory filing.

24 May 2022

New Banking Rules: Government Makes Aadhaar Card/Pan Card Compulsory To Open Accounts, Deposit/Withdraw Money

An assessee needs to mention his/her PAN in all communications with the I-T department and while entering into specified financial transactions.


State Bank of India

Gujarat HC raps SBI for denying no-dues certificate in land deal matter over farmer's outstanding amount of 31 paise

While hearing a petition on Wednesday, Justice Bhargav Karia expressed displeasure over the bank, the country's largest lender, withholding the no-dues certificate, which is required for clearing a land deal.


Canara Bank Eyes 8% To 10% Loan Growth; Rise In Corporate Credit This Fiscal

In the fiscal ended on March 31, 2022, the lender's gross advances grew by 9.77 per cent.

16 May 2022

SBI Hikes Interest Rates On Bulk Term Deposits By 40-90 Basis Points

The revised interest rates on bulk term deposits amounting to Rs 2 crore and above are effective from Tuesday.


Cabinet Approves Rs 820 Crore Financial Support For India Post Payments Bank

The support will help state-run payments banks to penetrate deeper into the country, especially in the rural area, and work towards financial inclusion. 

27 April 2022

Bank Fraud.

Banking Frauds Dip 51% To Rs 40,295 Crore; Number Of Cases Not Falling Fast Enough: RBI

The 12 PSBs (Public Sector Banks) had reported frauds worth Rs 81,921.54 crore in preceding fiscal 2020-21, the Reserve Bank has said in response to an application under the Right to Information (RTI) Act.

15 May 2022

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Airtel Payments Bank.

Airtel Payments Bank Parnters with IndusInd Bank To Offer Fixed Deposit Facility

With the launch of the fixed deposits (FD) facility, Airtel Payments Bank has further strengthened its digital banking portfolio, IndusInd Bank said in a release.

26 April 2022

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25 April 2022
SBI Card Engages TCS For Digital Transformation

SBI Card Engages TCS For Digital Transformation

TCS has been serving the largest pure-play credit card issuer in the country for a decade and the new deal is an expansion of the engagement.


24 April 2022
ICICI Bank Veteran Vishakha Mulye Takes Charge Of Aditya Birla Capital As CEO

ICICI Bank Veteran Vishakha Mulye Takes Charge Of Aditya Birla Capital As CEO

Mulye, who was the executive director of ICICI Bank in charge of the wholesale banking portfolio, will take over her role on June 1, as per an announcement by...


20 April 2022
Banks Sanction Loans Worth Rs 3,628 Crore Under PM Yojana To Over 34 Lakh Beneficiaries

Banks Sanction Loans Worth Rs 3,628 Crore Under PM Yojana To Over 34 Lakh Beneficiaries

PM SVANidhi scheme was announced as part of Atmanirbhar Bharat Abhiyan in May 2020 to help street vendors, who were impacted by the COVID-19 pandemic, resume...


18 April 2022
SBI Raises $500 Million Through IFSC Gift City Branch

SBI Raises $500 Million Through IFSC Gift City Branch

This is the first offshore USD Secured Overnight Financing Rate (SOFR) linked syndicated loan raised by SBI through its Gift City branch.


18 April 2022
HDFC Bank Slumps Over 4% After Quarterly Earnings

HDFC Bank Slumps Over 4% After Quarterly Earnings

At 1:26 pm, stocks of HDFC bank were down 4.3 per cent at Rs 1,400. 


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17 April 2022
HDFC Bank To Raise Rs 50,000 Crore Via Bonds; Re-appoints Renu Karnad As Director

HDFC Bank To Raise Rs 50,000 Crore Via Bonds; Re-appoints Renu Karnad As Director

The board has approved the issuance of perpetual debt instruments (part of additional tier I capital), tier II capital bonds and long term bonds (financing of...


13 April 2022
Punjab National Bank Launches Cardless Cash Withdrawal Facility

Punjab National Bank Launches Cardless Cash Withdrawal Facility

Apart from cardless cash withdrawal and virtual debit cards, the bank has launched a range of other select digital services on its mobile app named PNB One for...


07 April 2022
RBI Issues Guidelines For Banks To Set Up 24X7 Digital Banking Units

RBI Issues Guidelines For Banks To Set Up 24X7 Digital Banking Units

In the Union Budget, the government announced the setting up of at least 75 such units in 75 districts to commemorate 75 years of the country's independence as...


06 April 2022
HDFC Bank Plans To Raise Up To Rs 50,000 Crore By Issuing Bonds

HDFC Bank Plans To Raise Up To Rs 50,000 Crore By Issuing Bonds

Earlier this week, HDFC Bank agreed to take over its parent and the country's largest mortgage lender HDFC Ltd, as part of its strategy to fuel growth,...


31 March 2022
Axis Bank Surge 1% After Acquiring Citibanks’ Customer Business In India

Axis Bank Surge 1% After Acquiring Citibanks’ Customer Business In India

The transaction comprises the sale of the consumer businesses of Citibank India, which includes credit cards, retail banking, wealth management, and consumer...


31 March 2022
Citibank Joins List Of Foreign Banks Scaling Down Operations In India With Rs 12,325 Crore Arm Sale To Axis Bank

Citibank Joins List Of Foreign Banks Scaling Down Operations In India With Rs 12,325 Crore Arm Sale To Axis Bank

Before Citi's exit from the consumer banking business was announced on Wednesday, global banking majors such as ANZ Grindlays, RBS, Commonwealth Bank of...


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30 March 2022
Citibank To Sell Consumer Business In India To Axis Bank, Announcement Today: Report

Citibank To Sell Consumer Business In India To Axis Bank, Announcement Today: Report

The development comes almost a year after Citibank had announced in April last year, that it will exit consumer business in 13 countries including India, as...


29 March 2022
Central Trade Unions' Nationwide Strike Enters Day 2; Public Transport, Banking Services Partially Hit

Central Trade Unions' Nationwide Strike Enters Day 2; Public Transport, Banking Services Partially Hit

Trade Unions' demands include the scrapping of Labour Codes, no privatisation in any form, scrapping of the National Monetisation Pipeline (NMP), increased...


29 March 2022
Banking Services Hit Partially On Second Day Of Strike

Banking Services Hit Partially On Second Day Of Strike

Transactions at many public sector banks were impacted as employees did not report for duty. Besides, there were delays in cheque clearances and government...


18 March 2022
RBI Extends Rajeev Ahuja's Term As RBL Bank's Interim MD & CEO By 3-Months

RBI Extends Rajeev Ahuja's Term As RBL Bank's Interim MD & CEO By 3-Months

On December 30, 2021, the private sector lender had said the Reserve Bank had approved the appointment of Ahuja as interim managing director (MD) and CEO for a...


17 March 2022
Are Neobanks The Future Of Banking?

Are Neobanks The Future Of Banking?

With everything becoming digital, brick-and-mortar banks also become a thing of the past. Here’s how neobanks which operate entirely digitally could become...


11 March 2022
Credit Card Spending Falls 7% In January, Signalling Hit In Consumer Sentiment: Report

Credit Card Spending Falls 7% In January, Signalling Hit In Consumer Sentiment: Report

Though the spending per card fell 8 per cent to Rs 12,500 on a month-to-month (MoM) basis, it was still higher than the average of Rs 11,700 in the past one...


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