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BoI plans Rs 2,500 cr equity capital raise to comply with shareholding norm
State-owned Bank of India (BoI) on Monday said it will raise up to Rs 2,500 crore by issuing fresh equity shares in order to comply with the minimum public shareholding requirement of 25 per cent.
"The board of directors of the bank at its…
Six groups set up to improve PSB functioning to submit report by December
Six working groups created to suggest ways to improve digitisation in the state-owned banks and strengthen their balance sheets have been asked to submit their respective reports by December, according to a senior banker.
Participating in…
HDFC Bank declares Rs 15.50 per share dividend for shareholders
HDFC Bank on Saturday declared a 1550 per cent or 15.50 per share dividend to its shareholders for the financial year 2021-22.
The board at its meeting has recommended a dividend of Rs 15.50 per equity share of Re 1 (1550 per cent) out of…
Health insurance premium rise spurs non-life growth, shows data
Health insurance premiums, which registered a 25.6 per cent growth — almost double that of last year — have been the main driver of the double-digit growth in non-life insurance in FY22. This comes after a horrid FY21, where the industry…
RBI directs UCBs to eliminate honorary positions within one year
The Reserve Bank on Thursday asked Urban Cooperative Banks (UCBs) not to create create any honorary position or title such Chairman Emeritus and Group Chairman at the board level as it results in creation of a shadow authority.
The RBI has…
Reserve Bank of India’s latest norms won’t be disruptive to NBFCs
The latest norms concerning large exposures, additional disclosures, and lending to directors laid down by the Reserve Bank of India (RBI) for non-banking financial companies (NBFCs) are in line with its stated objective of narrowing the…
Punjab & Sind Bank declares SREI firms’ outstanding dues as fraud
Lender becomes first to classify SREI Infra Finance and SREI Equipment Finance as fraud accounts, say sources; bank says the accounts fully provided for as per prudential norms
TopicsPunjab & Sind Bank | Srei Punjab &…
Rate transmission pace to improve for external benchmarked loans: RBI study
The pace of transmission is expected to improve going forward for external benchmark-linked loans as their proportion increases further, according to a Reserve Bank of India study.
Analysts pointed out that till date borrowers have seen the…
Health insurers take 20-46 days to settle patients’ claims: Report
Settlement of expense reimbursement claims under health insurance policies on an average takes about 20 to 46 days from the date of intimation to the insurer, said a study conducted by insurtech platform SecureNow.
The company said the…
HDFC Bank Q4 net up 23% to Rs 10,055 crore due to lower provisions
HDFC Bank reported on Saturday a 22.8 per cent year-on-year increase in net profit for the Jan-March quarter to Rs 10,055.2 crore, compared to Rs 8186 crore the same period of the previous year. The rise is mainly due to reduction in…