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RBI denies commercial banks will remain closed on every Saturday
New Delhi , Apr 20 : The Reserve Bank of India (RBI) has clarified that it has not given any instructions regarding five-day week in commercial banks. Full Story


HDFC Bank reports 23 pc growth in Q4 profit due to strong loan growth
Mumbai , Apr 20 : Private sector lender HDFC Bank on Saturday reported 22.6 per cent jump in net profit to Rs 5,885 crore during January to March 2019 from Rs 3,069 crore in the year-on period. Full Story


Slowdown in global growth, trade to hit emerging market economies: RBI Governor Das
Washington D.C. [United States], Apr 13 : The biggest risk facing emerging market economies is growing evidence that global growth and trade is weakening, Reserve Bank of India (RBI) Governor Shaktikanta Das has said. Full Story


IndusInd Bank launches campaign to celebrate 25 years
Mumbai April 12 : IndusInd Bank today announced the launch of a multimedia campaign to commemorate the completion of the Bank's journey of 25 years. Christened #Just25, the all-new campaign takes inspiration from the 25-year-olds of today. Full Story


Bank credit up 13.24pc , deposits up 10pc in FY19: RBI
New Delhi, April 12 : Signalling credit offtake, Reserve Bank of India data have shown banks have ended the 2018-2019 with record double digit disbursals for the second year consecutively after the under-5 per cent in FY17, which was the lowest in five decades. Full Story


Banks reduce interest on home, auto loans post-RBI cut
Mumbai, April 9 : Within days of the Reserve Bank of India (RBI) lowering its key lending rate, state-run State Bank of India (SBI) on Tuesday reduced its benchmark marginal cost of funds based lending rate (MCLR) and home loan rates, effective from April 10. Full Story


SBI reduces its MCLR, housing loan rates from April 10
Mumbai , Apr 9 : Taking a cue from recent policy measures announced by the Reserve Bank of India (RBI), the State Bank of India (SBI) on Tuesday, reduced its Marginal Cost of Funds Based Lending Rate (MCLR) by 5 bps across all tenors, resulting in MCLR coming down from 8.55 percent per annum to 8.50 percent per annum. Full Story


SBI puts NPAs worth Rs 424 crore on sale via auction
New Delhi, April 9 : State-run State Bank of India (SBI) said on Tuesday that it has put non-performing assets (NPAs or bad loans) worth Rs 423.67 crore on auction to recover unpaid dues. Full Story


RBI cuts Repo rate by 0.25 per cent - now is the best time to avail high-interest rates on fixed deposits
Pune : April 9 : The last quarter of 2018 saw an increase in fixed deposit interest rates, due to factors such as an increase in loan to deposit ratio, falling value of Indian rupee and the rising crude prices. Owing to key rates rising by 0.5 per cent to 0.10 per cent, both, banks and non-banking financial companies raised their interest rates on fixed deposits. Full Story


Lakshmi Vilas Bank-Indiabulls Housing Finance merger not approved: RBI
Mumbai : , Apr 07 : The Reserve Bank of India (RBI) has said it has not approved the announcement of a merger between Lakshmi Vilas Bank and Indiabulls Housing Finance Limited. Full Story


Bank of Maharashtra to cut MCLR, retail loans to be cheaper
Mumbai, April 5 : A day after the Reserve Bank of India (RBI) lowered its key lending rate, Bank of Maharashtra on Friday said it will reduce the benchmark marginal cost of funds based lending rate (MCLR) by 5 basis points (bps) across various tenures from April 7. Full Story


RBI's repo rate cut largely in consonance with market expectations: SBI Chairman
New Delhi , Apr 4 : State Bank of India Chairman Rajnish Kumar on Thursday hailed the RBI monetary policy announced earlier in the day, saying that the decision to cut repo rate by 25 basis points (bps) was largely in consonance with the market. Full Story


RBI moves to stimulate growth, lowers repo rate by 25 basis points to 6 pc
Mumbai : , Apr 4 : The Reserve Bank of India (RBI) on Thursday cut repo rate for the second consecutive time this year to 6 per cent from the current 6.25 per cent, a move that will cheer industry leaders over relief from high borrowing costs a week before the first phase of general elections. Full Story


RBI cuts repo rate by 25 basis points to 6 pc
Mumbai : , Apr 4 : The Reserve Bank of India (RBI) on Thursday cut repo rate for the second consecutive time this year to 6 per cent from the current 6.25 per cent, a move that will cheer industry leaders over relief from high borrowing costs a week before the first phase of general elections. Full Story


Jobs safe, BoB assures Vijaya Bank employees post merger
Bengaluru, April 1 : As the parent bank post-merger, the public sector Bank of Baroda (BoB) on Monday assured employees of Vijaya Bank, which was also state-run, of job protection and security. Full Story


RBI meeting on lending rate from April 2 to 4
Mumbai : , Apr 1 : The six-member Monetary Policy Committee (MPC) headed by Reserve Bank of India Governor Shaktikanta Das will begin its three-day meeting from Tuesday as industry leaders demand that lending rate is cut by another 25 basis points to stimulate growth. Full Story


Merger of Dena Bank, Vijaya Bank with Bank of Baroda comes into effect
Mumbai : , Apr 1 : Bank of Baroda on Monday became India's second largest public sector bank behind State Bank of India (SBI) following a three-way merger with Dena Bank and Vijaya Bank. Full Story


Vijaya-Dena-BoB merger to be effective from Monday
Mumbai, March 31 : The amalgamation of Vijaya Bank and Dena Bank into the Bank of Baroda (BoB) will come into effect April 1 and all branches of the former two will function as branches of BoB. Full Story


PNB divests partial stake in PNB Housing Finance for Rs 1,851 crore
Mumbai (Maharashtra) , Mar 29 : Government-owned Punjab National Bank (PNB) said on Friday it is offloading some of its stake in its subsidiary PNB Housing Finance to General Atlantic Group and Varde Partners for Rs 1,851.6 crore. Full Story


Indian banks benefit from lower slippages but challenges remain: Fitch Ratings
Mar 29: The banking sector's non-performing loan ratio improved in first nine months of current financial year but slow resolution and weak capital are likely to keep the overall pace of recovery tepid, according to global credit rating agency Fitch. Full Story


Banks report better non-performing loan ratio: Fitch
New Delhi, March 28 : The Indian banking sector's non-performing loan (NPL) ratio for the nine months to December 2018 fell to 10.8 per cent from 11.5 per cent at fiscal year end 2018, according to Fitch Ratings' estimate. Full Story


Bandhan Bank to focus on affordable housing
Kolkata, March 28 : After the completion of the proposed merger of Gruh Finance into the lender, Bandhan Bank is looking to give a big push to affordable housing sector and has plans to further dilute the promoter's holding in it to 40 per cent, an official said on Thursday. Full Story


Bank of Baroda to get Rs 5,042 cr capital infusion
New Delhi, March 28 : Ahead of its merged entity operation, Bank of Baroda will receive Rs 5,042 crore fund infusion from the government. Full Story


RBI fines PNB for deficiencies in regulatory compliance
Mumbai, Mar 26 : The Reserve Bank of India (RBI) has imposed a penalty of Rs 2 crore on public sector Punjab National Bank (PNB) for non-compliance of regulatory directions with regard to SWIFT operations. Full Story


BoB-Dena-Vijaya Bank to be injected with Rs 5K cr
New Delhi, March 22 : The Bank of Baroda may get Rs 5,000 capital infusion from the Finance Ministry ahead of its united operations as a merged entity along with the Vijaya Bank and Dena Bank from April 1. Full Story


Yes Bank to hire CAs for checking fraud
New Delhi, March 20 : Private lender Yes Bank has advertised for employing Chartered Accountants for the position of 'Quality Control Financial Crime' in Kolkata. Full Story


SBI to auction NPA assets worth Rs 6,169 cr in March
New Delhi, March 20 : The State Bank of India will auction non-performing assets (NPAs) amounting to Rs 6,169 crore in the next 10 days to recover its dues from various defaulting business outfits. Full Story


'Rating IDBI Bank as private is against public interest'
Chennai, March 20 : The All India Bank Employees' Association (AIBEA) has demanded the Reserve Bank of India (RBI) to reconsider its decision to categorise IDBI Bank as a private entity. Full Story


Got RBI nod for Gruh Finance merger: Bandhan Bank
Kolkata, March 15 : Bandhan Bank on Friday said it has received "no objection" from the Reserve Bank of India (RBI) for the proposed merger of Gruh Finance with it. Full Story


Allahabad Bank to raise Rs 500-600 cr next fiscal
Kolkata, March 15 : State-run Allahabad Bank is looking to raise around Rs 500-600 crore capital in the next fiscal through dilution in stake of its joint venture insurance company and also by selling non-core assets, an official said on Friday. Full Story