AU Small Finance Bank Q3 profit surges 41pc to 528 cr
The total income of the bank increased to Rs 4,732 crore during the quarter under review against Rs 3,186 crore in the same period last year, AU Small Finance Bank said in a regulatory filing.
Banking
Uday Kotak Advocates for Business-Friendly Policies in the Trump Era to Boost India’s Competitiveness
Kotak underscored the significance of creating a business-friendly atmosphere that allows Indian companies to thrive domestically and compete on a global scale. He pointed out that excessive regulatory hurdles can hinder the entrepreneurial spirit and innovation crucial for driving economic growth.
Kotak Mahindra Bank Completes Acquisition of Standard Chartered India’s Personal Loan Portfolio for Rs 3,330 Crore
In a stock exchange filing, Kotak Mahindra Bank confirmed the acquisition, stating, “After receiving the necessary regulatory approvals and fulfilling the relevant conditions precedent, the Bank has, today, i.e., on January 23, 2025, completed the aforesaid acquisition.”
RBI to Conduct Overnight Variable Rate Repo Auction on January 23, 2025
The RBI has notified an auction amount of ₹50,000 crore with a tenor of 1 day. The auction window will open from 11:30 AM to 12:00 Noon on January 23, and the reversal of the transaction will take place on January 24, 2025, Friday.
PNB Housing Finance reports 42.8% YoY growth in Q3 net profit
The company’s retail disbursements grew by 31% year-on-year, totaling INR 5,380 crore for the quarter. Notably, the Affordable and Emerging Markets segments played a key role in driving this growth. The affordable housing segment saw a remarkable surge in disbursements, which grew by 126.8% YoY and 46.0% QoQ, amounting to INR 920 crore. Similarly, the Emerging Markets segment recorded a 39.3% YoY increase and a 6.8% QoQ rise, contributing INR 1,105 crore to the disbursement total.
RBI announces panel for evaluating applications for universal banks and SFBs
As per licensing guidelines, applications for Universal Banks and Small Finance Banks will be initially screened by the Reserve Bank to ensure prima facie eligibility of the applicants.
Bank assets need to grow consistently over the next two decades, says deputy governor
This brings forth the need to address some of the emerging challenges as customer behaviour and preferences are undergoing profound changes while global ecosystems and external factors such as third-party dependencies and technology shifts are growing increasingly complex, reshaping the business landscape, said deputy governor Rajeshwar Rao at an event.
IDBI Bank logs 31% jump in net profit in Q3
The total income of the bank increased to Rs 8,564.92 crore in the third quarter of the current fiscal from Rs 7,514.27 crore in the year-ago period, the bank said in a regulatory filing to stock exchanges.
Kotak Mahindra Bank Q3 profit rises 10% on higher lending income
Kotak’s provisions and contingencies, or funds set aside for potential bad loans, jumped 37% to 7.94 billion rupees.
RBI imposes monetary penalty on Mukkuperi Co-operative Urban Bank
This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.