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Banking & Financial sector

Creditaccess Grameen Q1 Results: Net profit jumps 151% on higher loan sales in June quarter

Creditaccess Grameen Q1 Results: Net profit jumps 151% on higher loan sales in June quarter

Fri, Jul 21, 2023

The total income increased 53.9 per cent to Rs 1,170.7 crore from Rs 760.5 crore, while the key net interest income rose 65.4 per cent to Rs 763.3 crore from Rs 461.5 crore.

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SBI Life Insurance debuts on bourses at 5% premium

SBI Life Insurance debuts on bourses at 5% premium

Tue, Oct 03, 2017

SBI Life, which is a subsidiary of State Bank of India, had raised up to Rs 8,400 crore via IPO (initial public offer). Its three-day IPO was oversubscribed by 3.58 times.

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ICICI Bank launches new home loan 'Cashback' facility for its customers; This is what offer is

ICICI Bank launches new home loan 'Cashback' facility for its customers; This is what offer is

Thu, Sep 28, 2017

The new home loan 'Cashback', offers borrowers the benefit of 1% cashback on every EMI, for the entire tenure of the loan.

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SBI revises service charges for Monthly Average Balance; six categories of accounts exempted

SBI revises service charges for Monthly Average Balance; six categories of accounts exempted

Mon, Sep 25, 2017

State Bank of India also decided to treat the metro and urban centres in the same category and the requirement of MAB in metro centres stands reduced to Rs 3000 from Rs 5000 earlier.

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ICICI Lombard IPO subscribed 98% on Day 2

ICICI Lombard IPO subscribed 98% on Day 2

Mon, Sep 18, 2017

The initial share sale offer of ICICI Lombard General Insurance Company was subscribed 98 per cent on the second day of bidding today, as per stock exchanges data.

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Standard Chartered Bank launches "Ultimate" credit card for Rs 5,000

Standard Chartered Bank launches "Ultimate" credit card for Rs 5,000

Mon, Sep 18, 2017

Standard Chartered Bank's "Ultimate" credit card will give range of benefits like Rs 10,000 cashback on spends on a specific travel portal in first three months of on boarding.

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ICICI Lombard seeks to raise Rs 5,700 crore in IPO sale

ICICI Lombard seeks to raise Rs 5,700 crore in IPO sale

Fri, Sep 08, 2017

Ajay Saraf, executive director at Mumbai investment bank ICICI Securities said he expected this year could even surpass the record $8.5 billion seen in 2010, as strong retail investment flows have sparked a 21.4 percent gain in the main NSE index so far this year.

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India in midst of domestic liquidity supercycle: Morgan Stanley

India in midst of domestic liquidity supercycle: Morgan Stanley

Fri, Sep 08, 2017

Year-to-date, domestic mutual funds have received equity inflows of USD 18.6 billion while ETF infusion so far this year read USD 2.6 billion, Morgan Stanley report said.

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RBI includes HDFC Bank in 'too big to fail' list

RBI includes HDFC Bank in 'too big to fail' list

Mon, Sep 04, 2017

As per the framework, RBI has to disclose the names of banks designated as D-SIBs every year in August starting from 2015 and place these banks in appropriate buckets depending upon their Systemic Importance Scores (SISs).

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Savings rate cut: These banks are still offering 6% interest, here's a look

Savings rate cut: These banks are still offering 6% interest, here's a look

Sat, Sep 02, 2017

Savings account, which is considered as the most basic financial product, has become a new "tool" for the banks to reduce liquidity post demonetisation period. It is best suited for salaried employees or people with a monthly income.

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PSU banks took recovery action against 5,954 wilful defaulters, FinMin says

PSU banks took recovery action against 5,954 wilful defaulters, FinMin says

Sun, Aug 27, 2017

Total outstanding loans due to public sector banks by wilful defaulters amounted to Rs. 92,376 crore, according to the finance ministry data.

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Steps taken to bring down cost of digital transactions:FM Jaitley

Steps taken to bring down cost of digital transactions:FM Jaitley

Sun, Aug 27, 2017

Digitisation has to reach down to the village level as cash mode of transactions is always insecure, Finance Minister Arun Jaitley said.

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NPA resolution not to liquidate cos, but to help save them: FM Jaitley

NPA resolution not to liquidate cos, but to help save them: FM Jaitley

Sat, Aug 19, 2017

Gross NPAs have crossed 9.6 per cent as of March 2017, while the stressed loans ratio is over 12 per cent.

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NPA resolution: Urjit Patel calls for recapitalisation of banks

NPA resolution: Urjit Patel calls for recapitalisation of banks

Sat, Aug 19, 2017

Reserve Bank Governor Urjit Patel today called for recapitalisation of state-run banks to help them resolve the NPAs issue in a time-bond manner as bad loans at 9.6 per cent of the system is not acceptable.

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HDFC Standard Life files IPO papers with Sebi

HDFC Standard Life files IPO papers with Sebi

Fri, Aug 18, 2017

Currently, HDFC owns 61.41 per cent stake in HDFC Standard Life and Standard Life has about 35 per cent, while the remaining is with employees and PremjiInvest.

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Thousands transferred, branches closed, but no major protests in SBI

Thousands transferred, branches closed, but no major protests in SBI

Tue, Aug 15, 2017

Even the unions that strongly opposed the merger of six banks with SBI and were apprehensive about treatment of incoming staff by the SBI management agree that there is not much of vindictive or arbitrary movement of people till now, making one wonder as to how and why this happened.

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9,000 wilful defaulters owe Rs 92,000 crore to PSU banks

9,000 wilful defaulters owe Rs 92,000 crore to PSU banks

Tue, Aug 15, 2017

Public sector banks have reported 20 per cent jump in the outstanding loans by nearly 9,000 wilful defaulters who collectively owed to lenders more than 92,000 crore at the end of March this year.

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NPA resolution to spur credit expansion, growth: Panagariya

NPA resolution to spur credit expansion, growth: Panagariya

Sun, Aug 13, 2017

Terming the non-performing assets (NPAs) or bad loans problem as a 'legacy issue', Arvind Panagariya said that even after three years of the NDA government taking charge, it has not gone away.

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ICICI Bank launches instant credit card facility with limit up to Rs 4 lakh

ICICI Bank launches instant credit card facility with limit up to Rs 4 lakh

Wed, Aug 09, 2017

ICICI Bank introduces instant credit card facility with a credit limit of Rs 4 lakh for the bank's savings account customers.

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SBI rate cut: Here are 11 banks who continue to offer higher savings interest rates

SBI rate cut: Here are 11 banks who continue to offer higher savings interest rates

Tue, Aug 01, 2017

With State Bank of India (SBI) announcing the revision of interest rates on savings account for balances of Rs 1 crore and below, other banks likely to follow suit.

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Mundra retires; Vishwanathan to head supervisory depts at RBI

Mundra retires; Vishwanathan to head supervisory depts at RBI

Tue, Aug 01, 2017

Deputy governor Viral Acharya will be handling the central security cell, the Rajbhasha department and the human resources function, RBI said.

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SBI slashes deposit rates for bank balances lower than Rs 1 crore

SBI slashes deposit rates for bank balances lower than Rs 1 crore

Mon, Jul 31, 2017

For saving deposit balance up to Rs 1 crore, the new interest rate would be 3.5%, State Bank of India said.

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ICICI Bank's net profit declines by 8% to Rs 2049 crore in Q1FY18

ICICI Bank's net profit declines by 8% to Rs 2049 crore in Q1FY18

Thu, Jul 27, 2017

ICICI Bank's net interest income increased by 8% on a year-on-year basis to Rs 5,590 crore in Q1FY18 from Rs 5,159 crore in Q1FY18.

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