Banking & Financial Services

Prior to joining Axis Bank, Puneet Sharma spent 12 years at Tata Capital as a senior management functionary and was the group chief financial officer since 2014.

A gradual pick-up in economic activity, continuing demand for retail loans, and strong growth in lending by private sector banks should drive the uptick.

The NBFC sector has seen a lot of turmoil, starting with a series of defaults by Infrastructure Leasing & Financial Services (IL&FS).

SBI offers both monthly and quarterly interval options for crediting the interest in retail fixed deposit accounts. However, the payment of interest on a monthly basis is made at a discounted rate, according to the SBI website.

Kotak Mahindra Bank on Wednesday said it has got the final nod from RBI on the promoters' stake dilution plan.

HSBC said it would merge its private banking and wealth businesses, axe European stock trading and cut US retail branches as it seeks to remove $4.5 billion in costs.

Once it is issued for a vehicle, one can choose from a range of channels to recharge the FASTag account. State Bank of India (SBI), for example, provides an online facility to enable users to add value in their FASTag accounts.

The central bank had announced that it will auction funds worth a total Rs 1 lakh crore via long-term repos at a fixed rate of 5.15 per cent which is the current repo rate.

In December, the RBI announced a Fed-style 'Operation Twist' -- buying long-dated bonds and selling the shorter tenor ones.

Non-food credit rose Rs 1.02 lakh crore to Rs 100.24 lakh crore, while food credit fell Rs 3,202 crore to Rs 78,899 crore.

SBI reported 4,769 cases of banking frauds worth Rs 30,300 crore during the nine-month period ended December 2019.

Yes Bank shares jumped 8 per cent on Thursday a day after the private sector lender said it had received non-binding expressions of interest from JC Flowers, Tilden Park Capital Management, OHA (UK) (part of Oak Hill Advisors) and Silver Point Capital for a cash infusion. Yes Bank shares started the day higher at Rs 36.95 apiece and climbed to as high as Rs 38.00 at the strongest level of the day by afternoon, marking an intraday jump of 7.95 per cent compared with their previous close of Rs 35.20.

The agency said that the downgrade reflects the continued delay and inconclusive quantum of the anticipated equity infusion in Yes Bank.

Banks are fulcrum of the country's economic ecosystem, and have played a sterling role in fuelling India's growth over the years, he stated.

Yes Bank's loss of mom-and-pop deposits in September was manageable in the end, though it pointed to a risk for the lender whose peers HDFC Bank Ltd. and ICICI Bank Ltd. drew more savings from customers during that period