by OverviewFX | Jul 26, 2024 | Banking & Finance
New Delhi, AU Small Finance Bank Managing Director Sanjay Agarwal on Thursday said the lender will apply for universal bank licence to the Reserve Bank of India (RBI) next month. “The board has decided to go for a universal licence and approved the constitution...
by OverviewFX | Jul 26, 2024 | Banking & Finance
Banks need to get back to their core business of mobilising deposits and lending, finance minister Nirmala Sitharaman said, laying down a marker for them amid concerns over slowing deposit growth.The 12.5% capital gains tax on property without indexation, which the FM...
by OverviewFX | Jul 26, 2024 | Banking & Finance
NEW DELHI: Banks will be asked to tap into the “digital footprint” of small businesses, including salary payments, electricity bills and municipal taxes paid by them, along with GST and provident fund details, to decide on loans given to them as govt seeks...
by OverviewFX | Jul 26, 2024 | Banking & Finance
AU Small Finance Bank on Thursday formalised a plan to make an application for universal banking license while reporting a 30% year-on-year rise in net profit for the June quarter at Rs 503 crore.The bank has received its board approval for applying for the coveted...
by OverviewFX | Jul 26, 2024 | Banking & Finance
India’s private banks are selling portfolios of retail loans as regulators pressure them to improve credit-deposit ratios.India’s largest lender, HDFC Bank Ltd., sold a 50 billion rupee ($597 million) loan portfolio to an undisclosed buyer in June, Chief Financial...
by OverviewFX | Jul 26, 2024 | Banking & Finance
New Delhi: Banks need to devise new strategies to attract depositors, financial services secretary Vivek Joshi said, even as he noted that Indian banks’ low-cost deposits, current and savings accounts (CASA), are comfortable at around 41% of their total...