Analysts expect non-state banks to report 9% growth in pre-provision operating profit and a 21% expansion in net profit. A recovery in business growth, higher fee income and a gradual reduction in credit costs are seen as the factors that drove profit growth.
Daga, one of the senior most officials at Edelweiss, is understood to have setting up his-won asset management firm. Daga earlier headed Proprietary Trading business for Edelweiss as well as managed a multi asset multi strategy desk. He moved to Edelweiss from ICICI Bank.
The income tax refund is processed by State Bank of India (SBI) and is directly credited to the bank account nominated by the taxpayer in his/her ITR at the time of filing it.
SIBs are perceived as banks that are 'too big to fail (TBTF)'. This perception of TBTF creates an expectation of government support for these banks in times of distress. Due to this perception, these lenders enjoy certain advantages in the funding markets.
India's Axis Bank has started offering structured derivative products to leading companies including Reliance Industries after a ban on these deals was lifted by the Reserve Bank of India effective Monday.
Having access to over 10 lakh customers post acquisition of DHFL last year, Piramal Capital & Housing Finance (PCHFL) plans to open 100 branches and expand to 1,000 more cities in coming years. In September 2021, PCHFL completed acquisition of debt-laden Dewan Housing Finance Ltd (DHFL), thereby creating one of the largest housing finance companies in the country.
According to a regulatory filing, deposits grew by 15.21 per cent to Rs 1,86,614 crore in the period under review as against Rs 1,61,971 crore in the year-ago period. The bank's total business was up by 18.28 per cent to Rs 3,15,666 crore from Rs 2,66,875 crore.
According to the provisional data released by the bank, the gross retail disbursements during the December quarter was Rs 9,233 crore, up from Rs 7,470 crore in year ago quarter. The deposits rose by 26 per cent year-on-year to Rs 1,84,289 crore at end of December 2021, as against Rs 146,233 crore, Yes Bank said in a regulatory filing.
Banned apps simply move to third-party platforms such as Aptoide, he said, or advertise through text messages. Consumers sometimes take out loans with no intention of paying them back. The apps, in turn, use mafia-like collection tactics.
As per the proposed guidelines, the remuneration of chief executive, managing directors and whole time directors will be divided between fixed pay, perquisites and variable pay.
All loans assigned during the quarter ended December 31, 2021, were to HDFC Bank pursuant to the buyback option embedded in the home loan arrangement between HDFC Bank and the Corporation, it said in a regulatory filing.
"All health insurance policies issued by all general and health insurance companies that cover treatment costs of COVID-19 also cover the costs of treatment towards Omicron variant of COVID-19 as per terms and conditions of policy contract," the Insurance Regulatory and Development Authority of India (IRDAI) said in a release.