banking industry

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Some public sector banks (PSBs), including State Bank of India (SBI), have approached the Reserve Bank of India (RBI) seeking relief on provisioning requirements against losses on their treasury portfolio incurred during the current…

By Shashank Didmishe Credit card spends in the banking system bounced back in May on a year-on-year basis after witnessing a contraction in April led by healthy improvement in transactions at the e-commerce and point-of-sales (PoS)…

The merger of Housing Development Finance Corporation (HDFC) into HDFC Bank offers a significant opportunity for the bank to scale up and will help it double its balance sheet every five years, HDFC Bank MD and CEO Sashidhar Jagdishan said.…

By Shashank Didmishe With the June-end deadline for the mandated card-on-file tokenisation system fast approaching, bankers are concerned that the payments ecosystem as well as most of the merchants are unprepared for the new regime.…

Punjab & Sind Bank doubled its net profit for the quarter ended March 31, 2022, to Rs 346 crore. The lender had net profit of Rs 161 crore in the year-ago period. Its profit before provisions too rose 72% on year to Rs 317 crore during…

Chennai-based Indian Overseas Bank (IOB) reported a 58% jump in profit after tax (PAT) to Rs 552 crore in the quarter ended March 2022. The operating profit stood at Rs 1,614 crore in Q4FY22 against Rs 1,724 crore in the year-ago period.…

Private sector lender IndusInd Bank has invoked around 14.6 million pledged shares of BK Birla group company Birla Tyres, amounting to 10.21% of the total equity share capital of the insolvent tyre maker. Notably, earlier this month, the…