Half a dozen banks reported higher quarterly net profit Saturday, as growth in retail loans, increased non-interest income and a fall in provisions more than offset the impact of increasing cost of funds that weighed on their net interest margins (NIMs). ICICI Bank, the largest of the six lenders, reported a 24% rise in net … Read more
Kolkata: Private sector lender Karur Vysya Bank on Monday reported a 51% rise in net profit at 378 crore for the July-September period against 250 crore in the corresponding quarter last year, riding on sharply lower provisions in line with asset quality improvement. The bank’s net interest margin stood at 4.07% for the quarter under … Read more
Central Board of Indirect Taxes and Customs (CBIC) Chairman Sanjay Kumar Agarwal addresses conference in New Delhi on September 28, 2023. | Photo Credit: ANI E-gaming companies have been issued show cause notices for alleged GST evasion as per legal provisions, the head of Central Board of Indirect Taxes and Customs (CBIC) Sanjay Kumar Agarwal … Read more
The Hema Commission report to address issues of sexual harassment and gender inequality in the Malayalam film industry has recommended key provisions to prohibit illegal and offending acts against women in the sector. The provisions to be included in the proposed Kerala Cine Employers and Employees (Regulation) Act 2020 have emerged from the Right to … Read more
The Indian Railways will implement the provision of 750V power supply for maintenance of Linke Hofmann Busch (LHB) rakes at washing/sick lines, South Western Railway officials said in Hubballi on Sunday. In November 2016, the Railway Board took a policy decision to switch over 100% of its production to LHB coaches from April 2018. An … Read more
The State government has sought strict enforcement of the provisions of the Banning of Unregulated Deposit Schemes Act (BUDS Act). District Collectors have been directed to act promptly on orders issued by the Competent Authority, Banning of Unregulated Deposit Schemes Act (BUDS Act), and attach the properties of ‘deposit takers’ found to be operating unregulated … Read more
MUMBAI – IDFC First Bank Ltd reported a 61.3% year-on-year (YoY) rise in net profit for the quarter ended June to Rs 765 crore. Total income from operations grew 43.3% on year to Rs 8,282 crore. Net interest income, the difference between interest earned and interest expended, rose 36% YoY to Rs 3,745 crore. Operating … Read more
The Manipur government has declared that the whole State of Manipur has been affected by riots and violence, impacting the economic activities and livelihood of majority of the general public. To provide relief to the affected people and businesses, the State government has invoked a rarely used Reserve Bank of India (RBI) provision pertaining to restructuring … Read more
Private sector lender YES Bank today reported 80.66% on-year drop in its standalone December quarter net profit at Rs 51.52 crore due to ageing related provisions. Its net interest income improved 11.7% YoY at Rs 1,971 crore in Q3. Its net interest margin (NIM) in Q3 stood at 2.5% up nearly 10 bps YoY and … Read more
Mumbai: Private lender IndusInd Bank on Wednesday reported a 58% rise in its December quarter net profit to ₹1,964 crore on the back of strong credit growth and falling provisions. The bank reported profits of ₹1,242 crore in the same quarter last year. The bank has reported a net interest income, or core income, growth … Read more