While HDFC Bank hasn’t given any a breakup of the data on slippages, numbers from state-run banks that ET looked at did not show such trends. ICICI Bank reported slippages of Rs 5,037 crore in retail loans, including rural and business banking loans, in the June quarter, compared with Rs 788 crore for corporate and SME loans.While HDFC Bank hasn’t given any a breakup of the data on slippages, numbers from state-run banks that ET looked at did not show such trends. ICICI Bank reported slippages of Rs 5,037 crore in retail loans, including rural and business banking loans, in the June quarter, compared with Rs 788 crore for corporate and SME loans.
The deadline for filing I-T returns by those taxpayers who do not have to get their accounts audited for the fiscal that ended on March 31, 2022 was Sunday. Till July 30, more than 5.1 crore tax returns were filed.The deadline for filing I-T returns by those taxpayers who do not have to get their accounts audited for the fiscal that ended on March 31, 2022 was Sunday. Till July 30, more than 5.1 crore tax returns were filed.
Like other small finance banks, currently, as much as 70 per cent of Ujjivan's assets are unsecured/without collaterals, and a vast majority of its customers are micro-loan borrowers. The remaining 30 per cent are under secured loan category. The management has set a target of having half the assets in the secured segment over the next three years.
CEO Sanjiv Chadha said demand from sectors such as cement, steel and roads has been strong, together with demand for international loans from Indian companies abroad. "Since last year, when corporate margins were low we explored high-rated syndicated loans like external commercial borrowings from Indian companies abroad where margins were good and we have seen growth in that segment," he said.CEO Sanjiv Chadha said demand from sectors such as cement, steel and roads has been strong, together with demand for international loans from Indian companies abroad. "Since last year, when corporate margins were low we explored high-rated syndicated loans like external commercial borrowings from Indian companies abroad where margins were good and we have seen growth in that segment," he said.
The bank reported an improvement in its asset quality parameters with gross NPAs falling to 3.36% in the June quarter versus 4.61% a year ago. The net NPA came to 1.30% Provisions for the quarter were at ₹308 crore against ₹1,872 crore in the period last year, a reduction of 84%. The credit cost was 0.9%The bank reported an improvement in its asset quality parameters with gross NPAs falling to 3.36% in the June quarter versus 4.61% a year ago. The net NPA came to 1.30% Provisions for the quarter were at ₹308 crore against ₹1,872 crore in the period last year, a reduction of 84%. The credit cost was 0.9%
"As the holder of the G20 presidency, Indonesia fully encourages an increase in tax transparency among countries. A fair and transparent international tax system is important to overcome tax evasion, prevent transfer pricing, and encourage conducive national tax policies," said Maudy Ayunda, the Indonesian government spokesperson for the G20 Presidency.
Non-dollar currencies like the Euro, British Pound Sterling, and Japanese Yen are included in the foreign currency assets when expressed in US dollar terms. Other parts of the currency reserves saw a growth. It's worth $38.502 billion now, up from $38.502 billion in the week that ended on July 22nd. (RBI) data revealed a $106 million increase in the value of Indian SDRs held by the International Monetary Fund (IMF) during the week.
"Post rights issue, the holding of the bank would come down below 30% but would be higher than 26% so that the bank retains promoter status," chief executive AK Goel said. The state-owned bank currently holds a 32% stake in the housing finance firm.
Many importers had filed the refund claims after the Supreme Court order, but their claims are still stuck. "It is directed that if any IGST amount is collected, the same shall be refunded within six weeks along with statutory rate of interest," Justice NV Anjaria said, while admitting the petition by Louis Dreyfus Company India Pvt Ltd Vs Union of India.
The weighted average domestic term deposit rate (WADTDR) on outstanding rupee term deposits of SCBs increased by 4 bps in May to 5.07 per cent and by 6 bps from in June 2022.
Tax revenues at the end of the first quarter stood at ₹5.06 lakh crore, 22% higher than the same quarter last year. Non-tax revenues contracted by 51.2% in the same period due to 69.4% lower surplus transferred by the RBI to the Centre, pulling down the overall revenue receipts that grew by a tepid 5.2%."Post rights issue, the holding of the bank would come down below 30% but would be higher than 26% so that the bank retains promoter status," chief executive AK Goel said. The state-owned bank currently holds a 32% stake in the housing finance firm.Many importers had filed the refund claims after the Supreme Court order, but their claims are still stuck. "It is directed that if any IGST amount is collected, the same shall be refunded within six weeks along with statutory rate of interest," Justice NV Anjaria said, while admitting the petition by Louis Dreyfus Company India Pvt Ltd Vs Union of India.Tax revenues at the end of the first quarter stood at ₹5.06 lakh crore, 22% higher than the same quarter last year. Non-tax revenues contracted by 51.2% in the same period due to 69.4% lower surplus transferred by the RBI to the Centre, pulling down the overall revenue receipts that grew by a tepid 5.2%.
"This is another instance of divergent ruling by different state authorities," said Harpreet Singh, indirect tax partner at KPMG in India. "In the past, Madhya Pradesh and Goa advance ruling authorities have held sale of developed land as non-taxable as in essence the transaction continues to be sale of immovable property.""This is another instance of divergent ruling by different state authorities," said Harpreet Singh, indirect tax partner at KPMG in India. "In the past, Madhya Pradesh and Goa advance ruling authorities have held sale of developed land as non-taxable as in essence the transaction continues to be sale of immovable property."
The regulator has also decided to allow insurance companies to tap fund raising options, like through the debt market, without prior approval from the Irdai.
Deposit growth has floundered as high inflation has resulted in less savings, as would be depositors are choosing to put money into shares and mutual funds in search of better returns, said Madan Sabnavis, chief economist at state-owned lender Bank of Baroda.Deposit growth has floundered as high inflation has resulted in less savings, as would be depositors are choosing to put money into shares and mutual funds in search of better returns, said Madan Sabnavis, chief economist at state-owned lender Bank of Baroda.
In a discussion paper on 'Climate Risk and Sustainable Finance', the Reserve Bank of India (RBI) said it intends to prepare a strategy based on the global best practices on mitigating the adverse impacts of climate change, learnings from participation in standard-setting bodies and other international fora.
Lenders may need to incorporate an assessment of both physical and transition risks across a range of climate-related scenarios. They may identify and simulate plausible and relevant scenarios, factor in the inter-linkages between climate-related risk and other risks and explore resilience to financial losses under a variety of scenarios.Lenders may need to incorporate an assessment of both physical and transition risks across a range of climate-related scenarios. They may identify and simulate plausible and relevant scenarios, factor in the inter-linkages between climate-related risk and other risks and explore resilience to financial losses under a variety of scenarios.
All about floater funds and guide to whether it makes sense to invest in it. Read to know more
“Rupifi is committed to cementing our place as a B2B payments innovator and continuing to help our customers gain competitive advantage,” said Anubhav Jain, co-founder and CEO. The company is backed by Tiger Global, Bessemer Venture Partners, Quona Capital and Ankur Capital.
On the first day of ET Future of Money Summit, top leaders and experts will focus on the theme of financial inclusion, women and money, fintech startup innovations, digital assets, role of blockchain and CBDCs.
Rupee has lost 6.77% to the greenback this year, ranking seventh among Asian currencies. But the rupee has fared much better against other major currencies. It has gained between 3% and 10% against the Euro, Pound and the Yen this calendar year.Rupee has lost 6.77% to the greenback this year, ranking seventh among Asian currencies. But the rupee has fared much better against other major currencies. It has gained between 3% and 10% against the Euro, Pound and the Yen this calendar year.
The bidders have raised concerns about potential investments in the bank being subject to CAG's scrutiny in the future. IDBI Bank also follows CVC guidelines for investigating internal complaints of suspected wrongdoing, which the bidders have raised as a concern.The bidders have raised concerns about potential investments in the bank being subject to CAG's scrutiny in the future. IDBI Bank also follows CVC guidelines for investigating internal complaints of suspected wrongdoing, which the bidders have raised as a concern.
Floater funds are open-ended schemes which allow for investment throughout the year, there is no lock-in period applicable, and the funds invested can be withdrawn at any time.
Dr. Bhagwat Kishanrao Karad, MoS - Ministry of Finance, Government of India will deliver the inaugural keynote address at ET Future of Money Summit 2022, scheduled for July 26-27. Other prominent speakers include Rajesh Bansal, CEO, Reserve Bank Innovation Hub (RBIH), Sanjeev Sanyal, Member, EAC PM, Nilesh Shah, MD, Kotak Asset Management Co, and Nithin Kamath, CEO and Founder, Zerodha. Dr. Bhagwat Kishanrao Karad, MoS - Ministry of Finance, Government of India will deliver the inaugural keynote address at ET Future of Money Summit 2022, scheduled for July 26-27. Other prominent speakers include Rajesh Bansal, CEO, Reserve Bank Innovation Hub (RBIH), Sanjeev Sanyal, Member, EAC PM, Nilesh Shah, MD, Kotak Asset Management Co, and Nithin Kamath, CEO and Founder, Zerodha.
The subject has assumed importance because banks have never invoked a government guarantee in the past. Senior bank officials conveyed their reservations on the subject to the NARCL management at a meeting last week, the people cited above said.The subject has assumed importance because banks have never invoked a government guarantee in the past. Senior bank officials conveyed their reservations on the subject to the NARCL management at a meeting last week, the people cited above said.
Banks including State Bank of India and Axis Bank have doubled consolidated balance sheet size to $35 billion in the last two years since the unified regulator assumed formal status. Prime Minister Narendra Modi is likely to visit GIFT City this Friday after a gap of five years, launching a host of new initiatives.Banks including State Bank of India and Axis Bank have doubled consolidated balance sheet size to $35 billion in the last two years since the unified regulator assumed formal status. Prime Minister Narendra Modi is likely to visit GIFT City this Friday after a gap of five years, launching a host of new initiatives.
In view of their deteriorating financial positions, the RBI has imposed withdrawal restrictions, capping Saibaba Janata Sahakari Bank's withdrawals at Rs 20,000 and The Suri Friends' Union Co-operative Bank's at Rs 50,000.
