Banks’ net interest margin (NIM), a key profitability gauge, grew 46 basis points to 3.3 per cent in the January-March quarter, driven by slower deposit […]
Category: BFSI
Bank of Baroda plans to divest up to 49 pc in credit card arm
State-owned Bank of Baroda (BoB) plans to sell up to 49 per cent stake in credit card business arm BOB Financial Solutions Ltd. Currently, it […]
SBI launches fully revamped YONO app; to have UPI features like scan & pay
The State Bank of India (SBI) launched its fully revamped digital banking application ‘YONO for Every Indian’ on Sunday. With YONO, which stands for “You […]
Fintechs seek first loss default guarantee cover for co-lending deals
Digital lenders are set to lobby with the Reserve Bank of India to extend the first loss default guarantee cover of 5% to co-lending arrangements […]
Sundaram Alternates launches Rs 1,500 cr realty private credit fund
Sundaram Alternates, an arm of Chennai-based Sundaram Group, on Thursday launched its fourth high-yield credit fund with a corpus of Rs 1,500 crore. The new […]
India’s indigenous HDFC to seal place in top echelons of world’s most valued banking space
In a remarkable feat, an indigenous Indian company will ascend to the upper echelons of the global banking landscape, as the tie up of HDFC […]
Banks racked up Rs 71,871 crore of notional bond losses in FY23, one-third of profits
Indian banks might have been poorer by more than ₹70,000 crore, representing close to one-third of their reported profits in 2022-23, if they had to […]
Finance ministry opts to simplify Insurance Act first; industry awaits reforms
Ahead of anticipated major reforms in the Insurance Amendment Bill, the ministry of finance has proposed a separate exercise aimed at simplification of pre-Constitutional enactments, […]
CreditAccess Grameen signs a $200 million external commercial borrowing deal
India’s largest NBFC-MFI CreditAccess Grameen has inked a $200 million external commercial borrowing deal with foreign banks and overseas branches of Indian banks. It has […]
SIDBI’s net income jumps 71 pc to Rs 3,344 crore in FY23
The Small Industries Development Bank of India (SIDBI) on Tuesday said its net income jumped 71 per cent on-year to Rs 3,344 crore in FY23. […]