Page 422 - Finance News

IDRCL: Stakes of Canara Bank, SBI, PNB and Union Bank reduced to 5% each

The reduction of stake is on account of issuance of fresh shares on preferential basis to the existing shareholders

Fintech has spread far and wide in India, banks need a counterattack

Banks aren't intuitively geared to handle the unique requirements of small businesses

Canara Bank pares its stake in debt resolution firm IDRCL to 5%

Public sector lender Canara Bank on Thursday said it has reduced its stake in India Debt Resolution Company Ltd (IDRCL) to 5 per cent.

What does the Axis-Citi deal mean for Citi's India customers?

Citigroup has sealed the deal with Axis Bank to sell its consumer businesses for nearly $2 bn. What does Citi's exit from India mean for its customers here? And what Axis is going to gain from it?

Axis Bank acquires Citi's consumer business in India for $1.6 bn

The all-cash deal includes Citi's credit cards, retail banking, wealth management and consumer loan

With Citi deal, life has come full circle for Axis Bank's Amitabh Chaudhry

In all likelihood, he would have worn a broad grin; and asked them to get behind their desks. A confirmed workaholic, Axis Bank's boss is not known to suffer fools gladly

India's SBI exploring new ways to resolve retail loan stress

SBI, which is India's largest lender by assets, had gross non-performing assets of 1,200 billion rupees at the end of December, representing 4.5% of its loan book

RBI's MPC to meet 6 times next fiscal; first meeting scheduled for Apr 6-8

The MPC announces the bi-monthly monetary policy after deliberations on the prevailing domestic and economic situations

IOB raises Rs 665 crore via tier-II bonds, exercises green shoe

The lender came up with a Basel-III compliant bond issue with base size of Rs 200 crore and green shoe option of Rs 600 crore

Citibank customers to continue availing privileges and offers: Axis Bank MD

If the customers agree to Axis managing their business, their accounts, credit cards and other business will change over, else the relationship will terminate and they can exit with their deposits

Seven banks to disburse Rs 1,500 cr to complete stalled Amrapali projects

The seven banks in consortium are -- Bank of Baroda, Indian Bank, UCO Bank, Punjab National Bank, Bank of India, State Bank of India and Punjab & Sind Bank

ICICI Bank eyes 40% growth in FY22 retail loan disbursement in Gujarat

Going forward, bank's expansion focus is on micro markets like textile hub and diamond market in Surat, ceramic market in Morbi, steel, metal and pharma in Ahmedabad and paper units in Vapi

Axis Bank acquires Citi's India consumer business in a Rs 12,325-cr deal

Acquisition of 3 million unique customers of Citibank India to enhance Axis Bank's presence in the key identified growth segments, the Mumbai-headquartered lender said

Karnataka Bank raises Rs 300 crore through bonds on private placement basis

To comply with Basel-III capital regulations, banks globally need to improve and strengthen their capital planning processes

Pandemic-related stress on unsecured loan assets over: HDFC Bank

The unsecured lending book for the bank includes credit cards and personal loans

Jammu and Kashmir Bank raises Rs 360 crore through bonds

Shares of the bank closed at Rs 32 apiece on the BSE, down by 3.18 per cent from previous close

Citigroup to sell India consumer business to Axis Bank for $1.6 bn

The deal will include the transfer of about 3,600 Citi employees to Axis, and Citi expects the release of about $800 mn of allocated tangible common equity after the deal

Axis Bank set to buy Citi's India consumer business: Report

In April 2021, Citigroup announced its plan to exit from the consumer banking business in India as part of its global strategy

RBI announces another $5-bn dollar/rupee sell-buy swap on April 26

The move is aimed to take out excess liquidity

Punjab National Bank plans to raise Rs 12,000 crore through bonds

Punjab National Bank (PNB) on Tuesday said its board has approved a proposal to raise Rs 12,000 crore through issuance of bonds to fund business growth.