This appointment is subject to regulatory approval from the Insurance Regulatory and Development Authority of India (IRDAI), according to a statement

A report by the State Bank of India suggests that RBI should go for jumbo rate cuts of 50 bps as it would be more effective

We are studying the judgment and the possible course of action. We will finalise our next step after discussing with our senior government advocates, DFS Secretary M Nagaraju said.

Report warns worsening asset quality could drive up credit costs to 6% for the year

The bank plans specialised branches for senior citizensstarting with one in Chennai and a new app that is expected to provide a single wallet for seamless transactions and reduce monthly UPI transaction costs

Official delegations of the ADB Board of Governors, ADB members and international financial institutions will attend the meetings

Board declares dividend of 15.90 per equity share and also approves raising of equity capital aggregating up to 25,000 crore

During the quarter, the bank's total income increased to 18,599 crore from 16,887 crore a year ago

Despite the decline, total income rose to 1,43,876 crore, supported by increased interest income.

Kotak Mahindra Bank reports standalone net profit of 3,552 crore

There are signs of rising stress in microloan portfolios of microfinance lenders in Tamil Nadu and Karnataka

The facility for exchange of the 2000 banknotes is available at RBIs 19 Issue Offices since May 19, 2023, per a central bank statement

Move aimed at allowing post-market transactions in G-Secs with non-residents

Balance sheet size likely to grow by 20-25% in current fiscal

Hits a six-month peak before weakening due to RBI intervention and importer demand

FY25 profit at 1,124 crore

Lender plans to raise capital for future growth

While margin may come under slight pressure, SBIs asset quality is seen holding steady, according to analysts

On April 29, Kathpalia resigned from the position of IndusInd Bank CEO with immediate effect

The Directions will help long-term investors such as life insurers to manage their cash flows and interest rate risk

The net-short dollar book stood at $64.2 billion in March, after hitting a record $88.8 billion the previous month, data from the Reserve Bank of India showed

While credit growth in industry sector was flat, that in agri and allied activities sector declined by half

The central banker would not be in a hurry to agree to the promoters plans amidst the investigations into the accounting lapses in the banks derivatives transactions

Bandhan Bank witnessed a whopping increase in the net profit despite its operating profit falling a 15.29 per cent y-o-y decline in its operating profit

The Banks Board recommended a final dividend of 1.20 per equity share of the face value of 2 each (60 per cent) for FY25

The vacancy ad comes as WTM Ashwani Bhatias three-year term is set to end on May 31.

Two regional rural banks in Karnataka, Karnataka Vikas Grameena Bank and Karnataka Gramin Bank, will be amalgamated to form a unified Karnataka Grameena Bank, from May 1

The two entities will collaborate to achieve key National Financial Inclusion and Sustainable Development Goals

MPC external member Saugata Bhattacharya expects an accelerated transmission of rate cuts to consumers within the next two quarters

Insurers are reportedly discussing the conversion of approximately 3.5 lakh crore ($41 billion) worth of rate derivatives, known as forward rate agreements, into bond forwards

The committee, comprising Soumitra Sen (Head of Consumer Banking) and Anil Rao (Chief Administrative Officer), will operate under the guidance of an Oversight Committee of the Board.

Axis Bank is also looking to shut down its Axis UK unit due to the small size of business and limited business growth

The Chennai-headquartered companys PAT grew by 28 per cent to 1,073 crore, compared with 836 crore in FY24.

The government will be raising 30,000 crore via the new GS 2035 at the upcoming weekly auction on Friday.

Board moves RBI to form committee to discharge CEOs duties till permanent CEO is appointed at the bank

Focus on targeted customer groupsparticularly in consumer loans and vehicle financeenabled it to disburse loans to over 13 lakh new customers in Q4, said the company

This initiative aims to leverage the officers proficiency in regional languages to deliver superior customer experiences

The revised interest rates for senior citizens will be 7.70 per cent for 12 months and 8.00 per cent for 24 and 36 months

The initiative will launch through 100120 branches, primarily in southern and eastern India

The Mumbai-headquartered company, a partner of KKR & Co., is in discussions with firms including IIFL Securities, Kotak Mahindra Bank Ltd. and Nomura Holdings Inc. about working on an IPO

The insurance firm, which manages more than 400 billion rupees in assets, did not detail the size or timing of the IPO but said it will not issue fresh shares