The mobile banking app of the largest private sector lender HDFC Bank, which has been under the regulatory lens for network outages, was down for an hour on Tuesday due to unspecified issues. The city headquartered bank said the issues were faced for an hour late in the morning on Tuesday and the same was resolved in an hour. It urged customers to use the net banking alternative to transact in the interim.
Adopting overly aggressive strategies without considering risk could lead to significant losses during the next downturn.
The need to maintain people's confidence in digital banking resulted in the action against HDFC Bank for service outages, RBI Governor Shaktikanta Das said on Friday and exhorted lenders to invest more on the technology front.
Investors shunned shares of Bajaj Finance on Friday, a day after the non-banking financial company (NBFC) reported a sharp contraction in its net interest margin (NIM) for the March quarter of the financial year 2023-24 (Q4FY24). The losses accounted for a fifth of the benchmark S&P BSE Sensex's 609-point loss. Most brokerages have tamed their earnings expectations for the next couple of quarters, after the management said it expected the pressure on NIMs to continue in the near term.
The registration process for CAT 2024 will begin 10 am onwards on August 1.
Private sector lender Axis Bank is close to acquiring Citigroup's retail banking business in India and a deal is likely to be announced soon, sources said on Wednesday. According to the sources, the deal, to be valued at $2.5 billion (about Rs 18,000 crore), will be subject to regulatory approvals. In April 2021, American banking major Citigroup announced its plan to exit from the consumer banking business in India as part of its global strategy. The business comprises credit cards, retail banking, home loans and wealth management.
The Madhya Pradesh Police have arrested the father of former Indian cricketer Naman Ojha in connection with a case of alleged embezzlement of funds in Betul district in 2013.
HDFC Bank, the country's largest private-sector lender, lost to competition wholesale loans of around Rs 50,000 crore after it increased interest rates in May, said Chief Financial Officer Srinivasan Vaidyanathan in an analyst call. "There were some customers who were offered lower rates by other market participants. "But we decided not to cut back on our rates," he said while addressing analysts after the announcement of the bank's Q1 earnings.
Ratan was extremely ethical in his dealings, which he brought to bear on the business house which he helmed, remembers Sailesh Kottary.
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
Despite a largely stable December quarter, investors booked profit in shares of IndusInd Bank (IIB) as an increase in slippages took them by surprise. Analysts, on their part, believe investors may, now, wait for actual delivery on slippage decline, potentially limiting near-term upside. "The management has indicated that corporate slippages (from legacy stressed book) have ended and inch up in consumer finance slippages was more one-off, and should meaningfully improve Q4FY24 onwards.
'I'm an extrovert, but there is a facet to me that I closely guard.' 'I just think that there has to be something that you keep for yourself.
Find out how banks and lending institutions decide if you are worth their money based on your CIBIL TransUnion Score and Credit Information Report.
Asking Indian Institute of Technology Bombay to adopt a humanitarian approach, the Supreme Court on Monday directed the premier engineering institute to allocate within 48 hours a seat to a young Dalit boy, who missed out, as he could not deposit his fees due to the non-functioning of his credit card.
Aviation is a juicy target. It's a 24x7 industry, which cannot afford delays or loss of customer credibility.
Taking bank lottery scam to a new level, scamsters are using the name and picture of RBI chief Raghuram Rajan to lure gullible people into making a cash deposit of Rs 15,500 to get a winning amount of Rs 5.50 crore.
With unlimited youthful energy, a capacity to earn more and wonderful years ahead of them, students definitely need to learn about handling money matters early in life. Here's a good starting point
RBL Bank is no Yes Bank. It's not fraught with fraud. It's a story of limitless ambition and greed for growth under a leader who doesn't want to give up, says Tamal Bandyopadhyay.
ICICI Bank reported good results for the October-December 2023 quarter (Q3), with 24 per cent year-on-year (Y-o-Y) growth in profit after tax (PAT). Net interest margin (NIM) dropped 10 bps quarter-on-quarter (Q-o-Q) to 4.43 per cent. Credit growth was at 19 per cent Y-o-Y (4 per cent Q-o-Q), while deposit growth was at 19 per cent Y-o-Y (3 per cent Q-o-Q).
Be careful if you find your postal mails/ bank and financial statements intercepted, pilfered or tampered with.
Cut down on non-essential expenses like outside food, travel expenses.
There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
Managing your own money is empowering. And if you haven't started yet, now is the perfect time!
Such service providers were given time until the end of October to follow the law of the land.
Harmanpreet said all of it helped when the team was faced with nervy situations like the the quarter-final against Britain, when they were reduced to 10 men for more than 40 minutes after Amit Rohidas was red-carded for dangerous play.
The Reserve Bank of India (RBI) has given HDFC Bank six months to migrate HDFC's home loan customers to external benchmark linked lending rate (EBLR), top sources in the bank told Business Standard. Almost half of HDFC's 5.4 million customers are home loan customers. It is mandatory for banks to link retail loans and loans to micro, medium and small enterprises to an external benchmark. Non-banking financial companies do not have such a mandate.
Here are some golden nuggets when it comes to creating wealth. Read them and if you find yourself saying, 'This everybody knows', cross your heart and ask yourself how many times you have forgotten these simple rules, says P V Subramanyam.
R Praggnanandhaa outclassed world champion D Gukesh in sudden death to win Tata Steel Masters chess title.
Handle cards like you would handle cash.
Harshala Chandorkar, chief operating officer, CIBIL, explains your rights and duties as a responsible consumer
Group Captain Shubhanshu Shukla Shukla says Wing Commander Rakesh Sharma -- the first Indian to travel to space --has been advising him about the space flight.
Dhoni endorses 42 brands to Bachchan's 41 and SRK's 34.
Barcelona's Raphinha scored deep into stoppage time to hand his side a dramatic 5-4 comeback win at Benfica and a place in the Champions League last 16.
SpiceJet will induct more Boeing 737 Max aircraft over the next few months and it hopes to start broadband internet service on its planes soon, its chairman and managing director (CMD) Ajay Singh said on Monday. The airline has a fleet of 91 aircraft, out of which 13 are Max planes and 46 are older versions of Boeing 737 aircraft, according to its website. In his email to employees on the 17th anniversary of the airline, Singh said the carrier continues to fly with the highest loads month after month and expects to soar even higher in the coming months.
The Reserve Bank India's (RBI's) decision to ban the onboarding of new accounts on the "bob World" mobile digital platform led to a selloff in the Bank of Baroda (BoB) stock. The stock of the public sector bank dropped by around 3 per cent. The central bank cited "material supervisory concerns"; news reports claimed mobile numbers were randomly linked to accounts to purportedly inflate registrations on bob World.
Online and mobile based personal finance applications have gained importance over the past few years.
'We are sure FY25 is going to be better...But to call out that all problems are behind us is a bit early.' 'The underlying business sentiment has not changed significantly.'
Beware: During the period that you avail of the moratorium, there would be no repayment of interest or principal. Thus, the outstanding will go up substantially for this period as a consequence
Received a hefty windfall and don't know what to do with it? Here are 5 smart ways to manage it.
