New Delhi, (IANS) : Fintech company Paytm on Wednesday said it will finally launch the operations of its payments bank on May 23. "We are in the process of launching Paytm Payments Bank on May 23. We recently received approval from the Reserve Bank of India (RBI) for...
Kolkata, (IANS) : Public sector lender Allahabad Bank is looking to reduce its exposure to corporate lending from 65 per cent of its total loan book to 50 percent for risk mitigation, its MD and CEO Usha Ananthasubramanian said on Wednesday. "There is a shift...
Mumbai, (IANS) : State-owned lender IDBI Bank on Tuesday evening said that Reserve Bank of India (RBI) has initiated a "prompt corrective action" (PCA) Ain view of its high non-performing assets (NPAs) and negative return on assets (RoAs). "RBI, vide their letter...
RBI Mumbai, (IANS) : Retail and home financing offers better earning opportunity for banks as earnings for corporate lenders are expected to be volatile, said investment banking firm Jefferies. In its latest report on the recent initiative of the central government...
Mumbai, (IANS) : The mounting problem of bad loans of banks cannot be resolved by their simple recapitalisation and options like raising private capital for state-run banks need to be considered to deal with the issue, the RBI said on Friday. "I wish to propose that...
Kolkata, (IANS) : Ujjivan Small Finance Bank (SFB), the wholly-owned subsidiary of Ujjivan Financial Services Ltd, on Friday said it is targeting a deposit base of Rs 2,500 crore in 2017-18. In a view to serving unbanked people, the small finance bank, which commenced...
Lucknow, (IANS) : People in Uttar Pradesh and in neighbouring Uttarakhand are facing a shortage of cash in banks and ATMs, six months after the old currency notes of Rs 1,000 and 500 were demonetised in the country. According to officials, they are managing with only...
Mumbai, (IANS) : Kotak Mahindra Bank (Kotak Bank) on Thursday reported a rise of 40 per cent in its stand-alone net profit for the fourth quarter (Q4) of fiscal 2016-17. The company's net profit increased to Rs 976 crore from Rs 696 crore reported in the fourth...
Chennai, (IANS) : Public sector lender Indian Bank will focus on improving asset quality and business growth-deposits and advances, said a top official. On Tuesday, the bank reported a net profit of Rs 319.40 crore for the fourth quarter of the 2016-17 fiscal, up from...
By Arul Louis, New York, (IANS) : Finance Minister Arun Jaitley and Reserve Bank Governor Urjit Patel say that market forces will ultimately temper the protectionist tendencies emerging in the the US that may affect India. Speaking on Monday at two different venues...