Confident of sustaining Q2 bottomline growth performance in remaining quarters this fiscal 

Murugappa Group’s NBFC, Cholamandalam Investment & Finance Co Ltd, reported a strong double-digit growth across key metrics in the September quarter and the first half of this fiscal year. Net income for Q2 surged 37 per cent y-o-y to ₹3,238 crore, up from ₹2,367 crore.

The vehicle finance focused NBFC also announced a 1-to-5 stock split, along with a dividend of ₹ 22 per share today

Yes Bank’s standalone net profit more than doubled to ₹5.53 billion for the financial second quarter from ₹2.25 billion in the same period a year earlier

YES Bank targets 17-18% deposit growth, loan growth of 13-14% in FY25; CEO Prashant Kumar says this can be the ‘right time’ to acquire an MFI

SBI Chairman CS Setty accepted the award

Chola MS reports an 11.6% Y-o-Y rise in GWP to ₹4,136 crore in H1 FY25; MD V Suryanarayanan says focus on profitable growth continues to drive performance

On a standalone basis, PNB’s net profit for the quarter under review increased 145 per cent to ₹4,303 crore (₹1,756 crore)

For the first half of the fiscal, the bank’s net profit exceeded ₹5,000 crore, totalling ₹5,110 crore, up from ₹3,697 crore

Move will lead to lower reliance on bank borrowing

Net interest income grew by 12 per cent to ₹596 crore, up from ₹533 crore a year earlier

Chandra is currently an Executive Director at Canara Bank.

Bank to sell more stake in associate company Equirus Capital, raise ₹1,500 crore via infra bonds in H2

Deposit to continue growing faster than credit in H2FY25

RBI is in no great hurry to immediately announce a nationwide rollout of the central bank digital currency (CBDC)

More than 1 lakh bank employees likely to be affected by DFS instruction to banks, says AIBEA General Secretary Venkatachalam

Jio Financial, helmed by veteran banker K.V. Kamath, already runs a shadow bank and an insurance brokerage and has joined forces with BlackRock Inc. to start an asset management business

Bank expects its advances and deposits to rise at least 30-50 per cent faster than the banking system

To focus on secured loan products

With a 10,000-branch network, MD & CEO Goel eyes significant growth opportunities to expand business and scale new heights.

Finova will use the funds to grow its loan book, invest in technology, expand geographically and further its vision of enabling financial inclusion at scale

BoB Chief Debadatta Chand says FY25 credit, deposit growth targets revised down to balance CD ratio

The total income for the quarter touched ₹Rs109.79 crore and the company disbursed loans amounting to ₹Rs643.50 crore during the quarter

The company’s newly launched Emerging Business segment, focusing on small business loans and affordable housing finance, disbursed Rs.₹42 crore during the second quarter of 2024

This feature allows users to move their holdings from CoinDCX’s custody to a decentralised decentralized wallet, meaning their assets will be stored directly on the blockchain

Festival season spending aided the 45 per cent y-o-y rise in October UPI transactions

IIFL Finance’s gold loan book had shrunk from ₹26,000 crore in early March 2024 to ₹10,000 crore by September 19, 2024

Debasish Mishra has experience across Credit, Operations, Forex, IT, HR, and MSME sectors, both in India and overseas

Zuno General Insurance continued to grow faster than the industry in the second quarter of this fiscal, says Shanai Ghosh, MD & CEO of the company

This new facility replaces paper-based BG issuance process with stamping and signatures

Bankers expect pressure on NIM to continue in Q3

The National Urban Cooperative Finance and Development Corporation will help mid and small sized UCBs upgrade their technology architecture and ensure the sector’s money remains within the sector

The appointment is for a period of three years, and the individual is qualified for reappointment. The position will have a monthly salary of Rs ₹2.25 lakh (Level-17)

Quarterly disbursements slightly decreased to ₹6,860 crore from ₹6,941 crore year-on-year

This new digital service allows customers to update their KYC information without visiting the bank branch, utilising three accessible channels: the IOB website, SMS, or email

The facility for exchange of the ₹2000 banknotes is available at RBI’s 19 Issue Offices since May 19, 2023, per a central bank statement

The NPAs on block were part of YES Bank’s legacy bad loan portfolio.

The proposed move is part of the Government’s ‘One State-One RRB’ goal

The Company achieved a 22 per cent % year-on-year increase in net profit in Q2 FY25, driven by business growth, stable asset quality, and a continuous focus on enhancing productivity

Shriram General’s Gross Written Premium rose by 15% to ₹861 crore during the same period.

Although this profit figure is lower than the ₹60 crore recorded in the previous quarter, it marks the fourth consecutive profitable quarter for the company.

Industry experts attribute surge to substantial inflows into exchange-traded funds (ETFs), increased speculation surrounding the election outcomes

The payments firm has set up POS terminals at villages in Tamil Nadu for payment of taxes and also for devotees making payments to temples.

Over the last decade, the bank has significantly increased its capital investments, tripling the capital base for Deutsche Bank Group in India

This investment is part of BFL’s $1 billion fundraising goal and aims to support India’s climate goals while promoting financial inclusion

Crosses over 100 million Monthly Transacting Users milestone

The Indian unit (INR) closed 0.2 per cent down against the previous close of 83.10. The central bank’s intervention through dollar sales prevented further depreciation of the Rupee, said forex dealers

Bankers are expecting another muted earnings quarter in Q3, and better business performance from Q4 onwards

Axis Capital sees the SBI’s loan growth in at 15 per cent vs 16 per cent in the first quarter

Shriram Life sold 2.83 lakh individual policies, a 96 per cent increase from the previous year