Kotak Mahindra Bank has received approval to function as an authorized bank for payment of pensions. This means that now retired individuals can open their pension accounts with Kotak Mahindra Bank. According to a Ministry of Finance office memorandum, “It is informed that the Central Pension Accounting Office (CPAO) vide its letter dated 23.02.2022 has […]
Kotak Mahindra Bank gets approval to disburse pensions Read More »
Ujjivan Small Finance Bank disbursed Rs 4870 crore in the December quarter, its highest ever quarterly disbursement, while asset quality improved with 100% collection efficiency in March in step with steady economic recovery. The bank’s gross loan portfolio grew 20% year-on-year to Rs 16543 crore. Its microfinance portfolio at Rs 10,979 crore accounted for 67%
Sharp rise in lending for both Ujjivan and Dhanlaxmi Bank Read More »
The Reserve Bank of India (RBI) stands apart as a rare example of a central bank today that has shunned interest rate hikes in the post-pandemic era and remained open to rate cuts, despite rising inflation. As the RBI’s monetary policy committee (MPC) meets from April 6-8 to decide its latest interest rate policy, official
Has India’s central bank avoided tackling high inflation? Read More »
Yes Bank on Tuesday said its net advances grew by 8.8 per cent to Rs 181,508 crore in the fiscal ended March 31, 2022. The bank’s net advances were at Rs 166,893 crore in the previous fiscal ended March 2021. Of the net advances during FY22, the gross retail disbursements stood at 10,324 crore, Yes
Yes Bank net advances up 8.8 pc to Rs 181,508 cr in FY22 Read More »
The Union Bank of India (UBI) has said it will create a “Digital Bank within Bank” as part of its future ready digital transformation project. Under the project, the public sector bank is planning to launch a super app, as per the bank’s regulatory filing. Further, a host of digital products — pre-approved personal Loan
Union Bank of India to create “Digital Bank within Bank” Read More »
HDFC Bank, a private sector lender, has raised interest rates on fixed deposits of less than Rs 2 crore for selected tenors, with the higher rates taking effect from April 6, 2022. According to the bank’s website, HDFC Bank has increased its one-year FD interest rate by 10 basis points to 5.10 percent from 5
HDFC Bank hikes FD interest rates of these tenures Read More »
Technological forces are not just changing the traditional business of finance but also posing challenges to the traditional centres of finance. RBI’s recent decision to open its Innovation Hub (RBIH) in Bengaluru marks a first step towards positioning the city as a financial centre of the future. In 2017, an RBI working group on finTech
RBI’s Innovation Hub in Bengaluru: A new financial centre for India Read More »
Wave off and Write off are generally confused to be one. But in reality , there is lots of difference between both. Banks are meant for our help. Loans they provide act as a crucial part of our day to day tasks. Home loans, vehicle loans , education loans and many more type of loans
Loan Write OFF or Wave OFF, Confused? Read More »