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IDBI Bank hopes to exit PCA framework this year: MD
New Delhi, June 13 : State-run IDBI Bank on Thursday said it expected to come out of the RBI's prompt corrective action framework (PCA) this year by lowering its net non-performing assets (NPAs or bad loans) level, which is the key benchmark for moving out of the PCA restrictions. Full Story


IDBI Bank Ltd. enters into standalone health insurance tie-up with Max Bupa
New Delhi June 12 : IDBI Bank Ltd. and Max Bupa, a standalone health insurer (SAHI), signed a Bancassurance corporate agency agreement on June 1, 2019. It is the first time that IDBI Bank has been on-boarded as a corporate agent for a SAHI partner under open architecture. Full Story


India's merchandise exports to rise by 2.5 pc in Q1 FY20: Exim Bank
New Delhi , June 10 : Export Import (Exim) Bank has forecast that India's merchandise exports will increase from 81.9 billion dollars to 84 billion dollars with an expected growth rate of 2.5 per cent during the first quarter (April to June) of 2019-20 over the corresponding quarter of the previous year. Full Story


HDFC Bank removes S.R. Batliboi as statutory auditors
Mumbai, June 7 : HDFC Bank has dropped the firm of S.R. Batliboi from its panel of auditors following the Reserve Bank of India's (RBI) refusal to approve the appointment and has, instead, appointed MSKA and Associates as their Statutory Auditors, the bank said on Friday. Full Story


HDFC Bank appoints MSKA and Associates as auditor
Mumbai, June 7 : HDFC Bank on Friday announced the appointment of MSKA and Associates as its statutory auditor for four years, after the Reserve Bank of India (RBI) earlier this week barred the private lender's proposed auditor S.R. Batliboi and Company from bank audits. Full Story


RBI cuts repo rate by 25 basis points to 5.75 pc
Mumbai , June 6 : The Reserve Bank of India (RBI) on Thursday cut repo rate for the third consecutive time this year to 5.75 per cent from the current 6 per cent amid falling economic growth and uncertain global scenario. Full Story


Equities trade lower ahead of RBI monetary policy meet
Mumbai , June 6 : Equity benchmark indices were in the negative zone during early hours on Thursday as investors awaited the outcome of Reserve Bank of India's monetary policy committee meeting on key interest rates. Full Story


Interest rate cut in monetary policy unlikely to stimulate growth: Ind-Ra
Mumbai , June 5 : India Ratings and Research (Ind-Ra) said on Wednesday that an interest rate cut by the Reserve Bank of India (RBI), which is almost certain in the second bi-monthly monetary policy statement for 2019-20, is unlikely to stimulate demand in the near-term due to absence of quick resonance in financial market. Full Story


RBI tweaks exposure framework for banks, introduces economic inter-dependence criteria
Mumbai , June 4 : The Reserve Bank of India (RBI) has made changes in guidelines on large exposures framework for banks to reduce the concentration of risk and align them with global norms. Full Story


Indian banks struggling with poor asset quality amid challenging environment: Fitch
Singapore, June 2 : Fitch Ratings believe that the Indian banking sector is still struggling with poor asset quality and weak core capitalisation. Full Story


SBI, ICICI Bank trade in red, HDFC Bank in green
Mumbai, May 29 : The stocks of the State Bank of India (SBI) and ICICI Bank were in the negative territory on Wednesday. Full Story


Federal Bank looks at 20pc business growth in 2019-20
Kolkata, May 29 : Private sector Federal Bank is looking at a 20 per cent growth in business in the current fiscal, an official said on Wednesday. Full Story


RBI extends RTGS timings from 4:30 pm to 6 pm
New Delhi , May 28 : With an aim to ease high-value fund transfers, the Reserve Bank of India (RBI) on Tuesday announced an extension of timings for customer transactions through Real Time Gross Settlement (RTGS) by one and half hours. Full Story


RBI to extend RTGS deadline to 6 p.m. from June 1
Mumbai, May 28 : The Reserve Bank of India has decided to extend the usage timings for 'Real Time Gross Settlement' (RTGS) system from June 1. Full Story


Bank ETF launch likely By Dec, to help funds mop-up, cut govt stake in banks
New Delhi, May 28 : The government proposes to bring down its holding in state-owned banks by launching an exclusive PSU Banks ETF (Exchange Traded Fund), sometime at the end of the third quarter period of the current financial year, sources said. Full Story


PNB slips back into loss of Rs 4,750 cr in Q4
New Delhi, May 28 : State-run Punjab National Bank (PNB) on Tuesday posted, on a year-on-year (y-o-y) basis, a lower loss of Rs 4,750 crore in the fourth quarter of the last fiscal ended March, compared to the loss of Rs 13,417 crore in the same period a year ago, the bank said. Full Story


PNB slips back into loss of Rs 4,750 cr in Q4
New Delhi, May 28 : State-run Punjab National Bank (PNB) on Tuesday posted a loss of Rs 4,750 crore in the fourth quarter of the last fiscal ended March, against the net profit of Rs 13,417 crore in the same period a year ago, the bank said. Full Story


IndusInd Bank net plunges over 62pc in Q4 FY19 on IL and FS provisioning, bad asset quality
New Delhi, May 22 : Worsening asset quality pushed down IndusInd Bank's net profit over 62 per cent to Rs 360 crore in the fourth quarter of FY2019 and the gross non-performing assets (NPAs) rose to 2.10 per cent of gross advances, while net NPAs rose by 1.21 per cent as on March-end, 2019. Full Story


City Union Bank posts Rs 683 cr net profit in 2018-19
Chennai, May 17 : City Union Bank closed last fiscal with a net profit of Rs 682.85 crore, up from Rs 592 crore registered during the previous year, a senior bank official said on Friday. Full Story


Indian Bank posts Q4 loss of Rs 189 cr on provisioning
Chennai, May 14 : After logging a net loss of Rs 189.77 crore in the fourth quarter of the last fiscal ended March, state-run Indian Bank should be back in black in the current quarter, a top bank official said on Tuesday. Full Story


ED attaches property worth over Rs 2 crore in Axis Bank demonetisation case
New Delhi , May 13 : The Enforcement Directorate (ED) on Monday said to have issued a 'provisional attachment order' under the Prevention of Money Laundering Act, 2002 (PMLA) attaching movable and immovable properties worth Rs 2,95,92,351 Puneet Jain, Hemraj Singh, Vinod Deshmukh, Rajeev Singh Kushwaha, Mehfooz Khan, Pravesh Kumar Gandhi and others in Axis Bank demonetised currency conversion case. Full Story


HDFC reports Q4 FY19 net profit at Rs 2,862 crore
Mumbai , May 13 : Housing Development Finance Corporation (HDFC) on Monday reported the fourth quarter 2018-19 net profit of Rs 2,862 crore on a revenue of Rs 11,580 crore. Full Story


Syndicate Bank reports net loss of Rs 2,587 crore in FY 19
Mumbai , May 11 : Government-owned Syndicate Bank suffered a net loss of Rs 2,587 crore during 2018-19 on account of bad loans compared to a net loss of Rs 3,223 crore in the previous fiscal year. Full Story


SBI reports net profit of Rs 838 crore in Q4 FY19, NPAs decline
Mumbai , May 10 : State Bank of India (SBI) on Friday reported standalone net profit at Rs 838 crore for the March quarter of the financial year 2018-19. Full Story


Allahabad Bank's net loss rises to Rs 3,834.07 cr in Q4
Kolkata, May 10 : State-run Allahabad Bank on Friday said it has posted a net loss of Rs 3,834.07 crore in the fourth quarter of the financial year 2018-19 (FY 19), widening from a net loss of Rs 3,509.63 crore in the year-ago period. Full Story


SBI reports Q4 net profit of Rs 838 cr, asset quality up
Mumbai, May 10 : Countrys largest lender State Bank of India (SBI) on Friday reported a net profit of Rs 838 crore for Q4 of the last fiscal against a loss of Rs 7,718 crore year-on-year while seeing improvement in asset quality. The bank's provisions were up on a quarterly basis. Full Story


Allahabad Bank's net loss widens to Rs 3,834.07 cr in Q4
Kolkata, May 10 : State-run Allahabad Bank on Friday said it has posted a net loss of Rs 3,834.07 crore in the fourth quarter of the financial year 2018-19 (FY 19), widening from a net loss of Rs 3,509.63 crore in the year-ago period. Full Story


Canara Bank posts Rs 552-cr loss in Q4
Bengaluru, May 10 : State-run major Canara Bank on Friday reported a lower Rs 552-crore standalone net loss for the fourth quarter (January-April) of the fiscal 2018-19 as compared to Rs 4,860-crore net loss in the same period a year ago. Full Story


Indian Overseas Bank to raise Rs 1,500 cr in 2019-20
New Delhi, May 9 : State-run Indian Overseas Bank (IOB) will raise up to Rs 1,500 crore in tranches through private placement and public issues in domestic or overseas markets, IOB said on Thursday. Full Story


India Ratings downgrades Yes Bank's long-term ratings
Mumbai , May 9 : India Ratings has downgraded Yes Bank's long-term issuer rating from 'IND AA plus' to 'IND AA minus' with a negative outlook. Full Story