Budget 2020

Cabinet clears IDBI Bank strategic disinvestment

The Union Cabinet on Wednesday gave in-principle approval for strategic disinvestment along with transfer of management control in IDBI Bank in line with the Budget announcement earlier this year. The central government and LIC together own more than 94% equity of IDBI Bank. LIC, currently the promoter of IDBI Bank with management control, has a […]

Budget 2020

Airtel Payments Bank offers 6% per annum interest on deposits of over one lakh rupees

Airtel Payments Bank on Monday announced its customers will get an increased interest rate of 6 per cent per annum on savings account deposit of over Rs 1 lakh. The move follows Airtel Payments Bank becoming the first payments bank to implement an enhanced day-end savings limit of Rs 2 lakh, as per the Reserve […]

Budget 2020

IDBI Bank back in black in FY21 after five years

LIC-controlled IDBI Bank turned profitable in the fiscal ended March after five years, posting a net profit of ₹1,359 crore for the year. In 2019-20, the lender had posted a net loss of ₹12,887 crore. IDBI Bank is back in black after five years, said the lender. In the last quarter of the fiscal year […]

Budget 2020

Yes Bank posts Q4 loss of ₹3,788 crore

Private sector lender Yes Bank on Friday posted a whopping standalone net loss of ₹3,788 crore for the fourth quarter ended March 2021 due to a fall in income and jump in provisions for bad loans. The bank had reported a loss of ₹3,668 crore in the same period last year. However, due to the […]

Budget 2020

Lofty valuations factor in key positives for risk conscious Kotak Bank: Analysts

NEW DELHI: ‘s March quarter earnings missed analysts’ estimates on the profit front led by lower-than-expected growth in net interest income (NII) and higher provisions. Analysts say the private lender has been risk conscious for a while, which has taken a toll on its growth. Analysts believe the stock will closely track growth momentum, which […]

Budget 2020

Kotak Mahindra Bank Q4 preview: Profit may jump 60%; provisions likely to stay high QoQ

NEW DELHI: is expected to report up to 60 per cent year-on-year rise in net profit for the March quarter on a likely drop in provisions, while provisions, too, are expected to remain elevated on a sequential basis. Other incomes may decline up to 70 per cent YoY, various brokerage estimates showed. The growth in […]

Budget 2020

Reserve Bank of India bans Amex, Diners from selling new cards from May 1

Reserve (RBI) has banned credit card companies American Express and Diners Club International from on-boarding new domestic customers onto their card networks from May 1, 2021. The action has been take as these entities have been found non-compliant with the directions on storage of payment system data which the central bank had asked them to […]