BANKING

Several Indian banks are modifying their lending approaches in response to current market dynamics. Federal Bank and Yes Bank have reduced their retail lending activities, particularly focusing on housing loans which typically offer lower returns. They are also scaling back loans to large corporations that are seeking favorable interest rates.

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BANKING

Punjab National Bank is on an impressive expansion journey in South India, boasting record-breaking profits of ₹5,100 crore. This financial upswing signals an expected boost in net interest margins, alongside a steady growth in deposits and advances.

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BANKING

Punjab National Bank reported its highest-ever quarterly net profit of ₹5,100 crore for the December quarter, a 13% increase year-on-year. The bank aims for consistent quarterly profits exceeding ₹5,000 crore, driven by growth in retail, agriculture, and MSME sectors, along with new profit-generating verticals. PNB also made a significant floating provision for the ECL framework to strengthen its balance sheet.

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BANKING

An Indian Supreme Court ruling requiring Tiger Global to pay capital gains tax on its Flipkart stake sale has wide implications for private equity and trading firms using offshore structures. The court overturned a lower court decision and held that Tiger Global cannot claim tax treaty benefits through Mauritius because key decisions were made in the US, not the island nation.

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BANKING

ICICI Bank and HDFC Bank have been instructed by a regulator to make significant one-time provisions. ICICI Bank must set aside an additional Rs 1,283 crore, while HDFC Bank is required to allocate Rs 500 crore. The regulator has also urged both banks to identify and address shortcomings in their loan portfolios. These adjustments are necessary to ensure compliance with Priority Sector Lending (PSL) norms.

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BANKING

Microfinance loan portfolios have been declining since April 2024, according to industry leaders. This trend began after reaching a high of Rs 3.43 lakh crore. The decrease is attributed to loan repayments exceeding new loan disbursements across the sector.

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BANKING

Edelweiss Life Insurance is set for strong growth. The company expects double-digit expansion over the next two to three years. Breakeven is targeted by FY27. This growth will be driven by a balanced approach across multiple distribution channels and diverse products. Significant capital support is also planned to fuel this scaling.

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