Banking & Accounting

Federal Bank’s net profit for the March quarter fell 21% year-on-year (y-o-y) to Rs 301 crore as it set aside Rs 567.5 crore in provisions, 161% higher than in the same period a year ago.

Credit Suisse expects public sector banks to dial the government for $13 billion in recap. Rising risk aversion and accelerating rating downgrades are expected to add to asset quality stress for banks.

Kotak Mahindra Bank (KMB) on Monday lowered the interest rate on savings account (SA) deposits of up to Rs 1 lakh by 25 basis points (bps) to 3.5%. This is the lender’s second cut

Canara Bank has announced credit support for all its borrowers who have been affected by the COVID-19. The Canara Credit Support is extended as a quick and hassle-free loan

Bank credit rose 6.52 per cent year-on-year to Rs 102.52 lakh crore, while deposits grew 10.64 per cent to Rs 138.50 lakh crore in the fortnight ended May 8, according to latest RBI data.

India’s third largest bank by loan size Bank of BarodaNSE -0.41 % has taken the lead to monitor the entire NBFC loan portfolio on behalf of all lenders, three people familiar with the development said.

With the government extending the nationwide lockdown up to May 31, the Reserve Bank of India (RBI) is likely to extend the moratorium on repayment of loans for three more months, according to an SBI research report

Mumbai-based RBL BankNSE -7.69 % has set aside enough capital buffers to deal with the Covid-19 pandemic crisis and is confident credit costs will not exceed levels seen in the previous financial year,

The grant was recommended by the 15th Finance Commission, and an equal first installment was issued by the Centre to states on March 14.

Maintaining that the combined fiscal deficit of the Centre and states may go up to 13-14 per cent this fiscal, former RBI Governor Duvvuri Subbarao on Sunday said the financial stimulus