South Indian Bank on Sunday bagged the world record for organising a first-of-its-kind category event of staging and swinging 101 'oonjals' simultaneously at a single venue. South Indian Bank MD and CEO Murali Ramakarishnan along with its group business head Thomas Joseph K received the World Book of Records certification.
Home loan outstanding of banks has clocked double-digit growth in the first five months of the current fiscal, despite the Reserve Bank raising the key interest rate thrice during this period by a whopping 140 basis points (bps), which led to a hike in the home loan rate.
The finance ministry is considering multiple ways such as dipping into other accounts of a cheque issuer and prohibition of opening of new accounts of offenders to effectively deal with cheque bounce cases. These cases have been clogging the legal system. Many suggestions were made at a high-level meeting recently called by the ministry to deal with the high incidence of cheque bounce cases, reported PTI.
To recoup more than Rs 746 crore, the State Bank of India (SBI) has lined up a number of non-performing assets for sale this month and the following month, including the fraud account of Sintex BAPL.
Total deposits of the private sector lender rose by 21 per cent to Rs 99,365 crore at end of September quarter 2022, as against Rs 81,898 crore a year ago.
Yes Bank agreed to sell 480 billion rupees ($5.9 billion) of a bad loan portfolio last month to JC Flowers’ ARC, a move Kumar said will help boost its profitability. The sale is a major step by the bank toward shedding the mountain of stressed loans that led to its shock rescue by India’s central bank in March 2020.
"We would like to inform that RBI vide its letter dated October 6, 2022, has approved the appointment of Prashant Kumar as the MD &CEO of the Bank for a period of three years effective from today i.e. October 6, 2022," Yes Bank said in a regulatory filing on Thursday.
The bank's country head for payments, consumer finance, technology and digital marketing, Parag Rao told reporters that between 50-60 per cent of the journey on the digital transformation is over.
"The bank crossed the Rs 20,000 crore milestone in both advances and deposits showing robust growth," Ujjivan SFB said in a regulatory filing on Thursday. Deposits moved up by 45 per cent to Rs 20,389 crore driven by strong momentum in retail deposits which were up 71 per cent, it said.