Gross of transfers through inter-bank participation certificates and bills rediscounted, the bank's advances grew by around 25.8 per cent over September 30, 2021, HDFC Bank said in a regulatory filing. The bank's deposits aggregated to approximately Rs 16.73 lakh crore as of September 30, 2022, nearly 19 per cent higher from Rs 14.06 crore as of September 30, 2021, it added.
Payment through Unified Payments Interface (UPI) has crossed a milestone of Rs 11 lakh crore in September, as per the data released by National Payments Corporation of India (NPCI). During the month, 678 crore transactions in volume terms were done on the platform launched in 2016.
"UPI P2P accounted for 49 per cent in volume and 67 per cent in value but in terms of merchants' transactions, UPI P2M emerged as the preferred payment mode with a market share of 34 per cent in volume and 17 per cent in terms of value," said Worldline's 'India Digital Payments Report'.
PNB WhatsApp Banking services launched for customers and non-customers. Follow these steps to activate PNB WhatsApp banking services on your mobile phone.
It’s a wake-up call for the banks. Those that heed it will be able to leverage customer experience as a strategic differentiator for them. Those that don’t will soon recognise that in a world of empowered customers who are spoilt for choice, providers of sub-par experiences quickly fade into irrelevance.
Crisil said that nearly 80% of its ratings in the first half of the fiscal did not change but the rate of upgrades improved to 16.70% from around 14% in the second half of last fiscal and up from about 3% two years ago. The downgrade rate on the other hand was flat at 3.02%.
Prosus, the global investment arm of South African multinational Nasper, had on August 31 last year announced acquisition of BillDesk in an all-cash deal to expand its footprint in India's booming fintech sector under the umbrella of its payment gateway PayU.
Yes bank on Monday hiked the lending rates by 20-50 bps across the tenures following the Reserve Bank of India's decision to raised benchmark repo rate by 50 basis points to 5.90 per cent on Friday.
Sudhir Kaushik of Taxspanner.com tells readers how they can optimise their tax by rejigging their income and investments.
The worst-case scenario for me would be a further escalation of geopolitical conflicts. The second significant risk is entrenched inflation in the developed markets. These markets are not used to operating with high inflation and, therefore, it is so important what the Fed and the ECB are doing. We need to get that poison out of the economy.
The Reserve Bank of India (RBI) has made it mandatory for all credit and debit card data used in online, point-of-sale, and in-app transactions to be replaced with unique tokens by September 30 this year. This added layer of security by way of tokenisation is expected to enhance users' digital payment experience.
In value terms, 6.78 billion (678 crore) transactions in last month corresponds to transactions worth Rs 11.16 lakh crore, up from Rs 10.73 lakh crore in August, as per the National Payments Corporation of India (NPCI) data.