BOI raises Rs 2,000 cr at 7.88 pc in Tier II Bond Offering
Hyderabad/UNI: Bank of India (BoI) a leading public sector bank, on Wednesday announced it has raised Basel III compliant Tier II bonds of Rs.2,000 crores @ 7.88% p.a, through NSE’s Electronic Bidding Provider Platform.
RBI revises rules for classification and operation of investment by banks
Mumbai: The Reserve Bank of India (RBI) said on Tuesday that it has amended the existing norms for the classification, valuation, and operation of investment portfolios of commercial banks based on the feedback it received from a discussion paper.
Union Bank of India raises Rs 5,000 cr equity capital via Qualified Institutions Placement
Mumbai: Union Bank of India, the fifth largest Public Sector Bank in India, successfully raised equity capital of Rs 5000 crore via Qualified Institutions Placement (QIP) on Friday.
Barclays revamps top management in India with new appointments: Report
Mumbai: Barclays Plc on Friday announced the appointment of new executives to its top management in India, which is a major overseas market for the lender.
Deposits and advances of PSBs grew by 15.8% in FY23
New Delhi: The growth of deposits and advances of PSBs has improved from 8.2% and 9.8% in FY2021-22 to 9.3% and 15.8% in FY2022-23.
US Fed slaps $186 mn fine on Deutsche Bank over unsafe practices
The US Federal Reserve has imposed a fine of $186 million on German lender Deutsche Bank for violations related to sanctions and deemed "unsafe and unsound" banking practices at its US subsidiaries, AFP reported.
Bandhan Bank's CFO Sunil Samdani steps down
Mumbai: Bandhan Bank on Tuesday announced that its Chief Financial Officer (CFO), Sunil Samdani, has resigned from his position on July 3 in order to pursue a new opportunity.
IDFC First Bank plans merger with IDFC
Mumbai: The board of IDFC First Bank has given its approval for the merger of IDFC Ltd and IDFC Financial Holding Company with the bank through a scheme of amalgamation.
Banking sector set to achieve best asset quality; Net NPAs to drop to best level in over a decade
New Delhi: The banking sector is set to achieve its best asset quality in over a decade this fiscal year, with headline gross NPAs and net NPAs declining to 2.63% and 0.83% respectively in March 2023, according to Moody's and Icra Ratings, reported media.
Banks seek one more year to implement new loan provisioning system
Mumbai: Banks have appealed to the RBI for an additional year to implement the Expected Credit Loss (ECL) system for loan provisioning, said media reports.
Ujjivan Small Finance Bank Q4FY23 PAT jumps 145% to Rs 310 cr
Kolkata: Ujjivan Small Finance Bank on Thursday reported a Profit After Tax (PAT) of Rs 310 crore for Q4FY23 and Rs1,100 crore for the entire fiscal year, marking its best-ever performance owing to the bank's effective strategies and successful implementation of its business plan, according to a statement.
UCO Bank posts highest ever annual net profit of Rs 1862.34 cr for FY23
Mumbai/IBNS: Public sector lender UCO Bank on Tuesday posted the highest ever annual net profit of Rs 1862.34 crore for the year FY23, a y-o-y growth of 100.30% against Rs 929.76 crore for FY22.
Losses, mismanagement, failed strategies; how Credit Suisse reached crisis point
The crisis in Credit Suisse had been brewing since 2021, but the Swiss lender rattled investors on Tuesday by revealing that it had discovered "material weaknesses" in its 2021 and 2022 financial reports. On Wednesday, its stocks tumbled to an all-time low, stoking concerns over the overall heath of the banking sector, especially after the collapse of two banks in the U.S.
Axis Bank completes Citibank India's consumer business buyout for Rs 11,600 cr
Mumbai/IBNS: Axis Bank, India's fourth largest private sector bank, has acquired Citibank India's consumer business at Rs 11,603 crore.
Best Banks For Savings Accounts Services In India
In this article, let us look at the top 10 banks in India. A suitable savings account can help you save more money in the long run and invest them in the right avenues to grow your wealth in the future. Here are the top 10 banks in India ranked in order of the efficiency of their savings accounts: