City-based public sector lender UCO Bank on Tuesday said it hopes to achieve a net profit of Rs 1,500 crore this fiscal year. MD & […]
Category: BFSI
PSU banks recover 14 pc of written-off loans in last 5 years: Nirmala Sitharaman
Public sector banks could recover only 14 per cent of the written-off loans worth Rs 7.34 lakh crore in the last five years ending March […]
Mutual fund’s loss could be Rs 3 lakh crore gain for banks
India’s decision to tax returns from fixed-income mutual funds is set to bolster its lenders’ efforts to lure deposits for financing a resurgent credit growth […]
Govt gave Rs 8,800 cr capital to SBI without the lender asking for it in FY18: CAG report
The Department of Financial Services (DFS) had given Rs 8,800 crore to State Bank of India as part of recapitalisation exercise without the country’s biggest […]
SBI Cards outpaces banks in adding new customers in February
SBI Cards continued to beat rivals such as HDFC Bank in new card additions through better activation rates. While SBI Cards added more than 300,000 […]
India’s e-rupee unpopular as central banks push digital currency
Just outside the Reserve Bank of India’s Monetary Museum – which charts the evolution of money, from barter to electronic transactions – Bachche Lal Sahani […]
IDFC FIRST Bank has partnered with Crunchfish to pilot a project to demonstrate offline retail payments
IDFC FIRST Bank, is set to be a part of RBI’s pilot project to enable offline payments. This project will give access to digital payments […]
Borrowers must be accorded hearing before declaration of bank account as fraud: SC
A borrower must be accorded a hearing before an account is classified as “fraud” and a reasoned order must follow if such an action is […]
Medi Assist to acquire Raksha Insurance TPA in expansion push
Health insurance third-party administrator Medi Assist is set to acquire 100% stake in Raksha Insurance TPA in what could be the largest deal in third-party […]
Reliance Capital lenders fear recovery below liquidation value
Lenders of bankrupt Reliance Capital fear their loan recovery could fall below the liquidation value of `12,500-13,000 crore for the financial services company since both […]