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Banking Finance

Banks to RBI, ET BFSI

Banks to RBI, ET BFSI

MUMBAI: Indian lenders have told the banking regulator that creating 5% provision buffers for all infrastructure projects would hurt both the financiers and viability of the proposed development initiatives, seeking about a dozen such amendments to a draft Mint Road...

Morgan Stanley CEO, ET BFSI

Morgan Stanley CEO, ET BFSI

Morgan Stanley was testing a genAI chatbot developed with OpenAI.The use of artificial intelligence (AI) could save Morgan Stanley's financial advisers between 10 and 15 hours a week, the bank's CEO Ted Pick told investors at a conference on Monday."This is...

Report, BFSI News, ET BFSI

Report, BFSI News, ET BFSI

Portfolio outstanding of the Microfinance sector at Rs 442.7k crore as of March 24 rose 26.8 per cent in FY' 2023-24 according to a report by credit bureau CRIF Highmark.Despite regulatory restrictions , personal loans grew the second fastest among retail assets which...

IBA, BFSI News, ET BFSI

IBA, BFSI News, ET BFSI

Threefold increase in bank frauds reported in RBI's annual reports.Indian Banks' Association chairman M V Rao has said that the threefold increase in bank frauds reported in RBI's annual reports is largely due to customers being cheated by third parties, not breaches...

MD Atul Kumar Goel, ET BFSI

MD Atul Kumar Goel, ET BFSI

With legacy issues behind, Punjab National Bank (PNB) is on the right path to outpace the competition and achieve greater heights in terms of profitability during the current fiscal and subsequent years, the bank's managing director Atul Kumar Goel said. PNB topped...

RBI Annual Report, ET BFSI

RBI Annual Report, ET BFSI

MUMBAI: The Reserve Bank of India (RBI) along with NPCI international payments ltd (NIPL) will work towards taking UPI to 20 countries by FY29. RBI Annual report says possibilities will be explored for increasing the global footprints of UPI and RuPay."In light of...

FM, cites RBI, WB, ET BFSI

FM, cites RBI, WB, ET BFSI

IBC helped banks recover from ‘Congress-created’ NPA crisis: FM, cites RBI, WBIntensifying her attack on the opposition Congress as the last phase of the Lok Sabha Elections is coming close, Finance Minister Nirmala Sitharaman on Thursday said the Insolvency and...

City Union Bank MD, ET BFSI

City Union Bank MD, ET BFSI

Private sector City Union Bank expects significant growth in the income contributed from the insurance vertical during the current financial year, a top official has said. The Tamil Nadu-based bank was on track to reach pre-Covid level in slippages and recovery, the...

City Union Bank MD, ET BFSI

City Union Bank MD, ET BFSI

Private sector City Union Bank expects significant growth in the income contributed from the insurance vertical during the current financial year, a top official has said. The Tamil Nadu-based bank was on track to reach pre-Covid level in slippages and recovery, the...

Modi, BFSI News, ET BFSI

Modi, BFSI News, ET BFSI

Mumbai: PM Narendra Modi said on Monday that record profits made by banks in FY24 would increase availability of credit to the poor, farmers, and MSMEs, hailing the turnaround of financial entities, which were facing a burden of bad loans some years ago.Posting a link...

Banks to RBI, ET BFSI

Banks to RBI, ET BFSI

Mumbai: Banks will have only a 'limited ability' to pass on the impact of the proposed increase in project loan provisions due to the intense competition among lenders and the pressure to maintain relationships with large corporates. Officials from some of the large...