The bank has booked profits consistently for the last four Financial Years i.e., Rs.1,359 cr. 2020-21; Rs.2,439 cr. 2021-22; Rs.3,645 cr. 202223 and Rs.5,634 cr. 2023-24 and is likely to end up with Rs.7,000 cr. profit during the current Financial Year (2024-25). Gross NPA and Net NPA of IDBI have gone down historically low to 3.68% and 0.20% respectively and provision coverage ratio to 99.42%.
The US dollar surged on expectations that the Federal Reserve will not cut rates by much this year, Reuters reported quoting traders.
The Finance Ministry is set to meet the chiefs of Public Sector Banks (PSBs) on Wednesday to review thier performance
NEW DELHI: The Insolvency and Bankruptcy Board of India (IBBI) has mandated the exclusive use of the eBKray auction platform
Returning Officer Mr. Sanjay Raut in
the Board Meeting of the newly elected Board Members. Both were elected unanimously.
Representatives of microfinance institutions (MFIs) urged the Ministry of Finance on Wednesday to revisit the Reserve Bank of India’s (RBI)
The Bank’s customers can use the user-friendly Retail and Corporate Internet Banking platforms of IDFC FIRST Bank, or pay the taxes at any IDFC FIRST Bank branch using Cash, Cheque or Demand Draft.
EY anticipates significant reforms to simplify the tax system and improve taxpayer services, reduce litigation, and enhance tax compliance. Key suggestions include:
Financial Services Secretary M Nagaraju on Thursday said the government would soon launch a new credit guarantee scheme for the MSME sector covering loans up to Rs 100 crore.
According to an official press release, the RBI stated, “After reviewing the submissions made by the companies, and taking into account their revamped processes, systems, and commitment to maintaining compliance with regulatory guidelines—particularly in ensuring fairness in loan pricing—the Reserve Bank has decided to withdraw the restrictions imposed on both Asirvad Micro Finance Limited and DMI Finance Private Limited.”