The Reserve Bank of India (RBI) has decided to conduct a customer satisfaction survey to find out the impact of the recent mergers of state-owned banks on banking services being availed by individuals.Among other things, respondents will be asked whether the merger was positive from the point of customer services. The choice before the customer will be to tick one of the following options — strongly agree; agree; neutral; disagree; or strongly disagree.The proposed survey will cover a total of 20,000 respondents from 21 states, including Uttar Pradesh, Maharashtra, West Bengal, Tamil Nadu, Bihar, Karnataka, Madhya Pradesh, and Gujarat. In all, there will be 22 questions.Of the 22, a set of…
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Category: Banking
Bandhan Bank shares advance 1% after hitting lows in previous session | Business News
NewsBusinessMarketBandhan Bank shares advance 1% after hitting lows in previous session
The shares have witnessed a downward trajectory since bank’s MD and CEO Chandra Shekhar Ghosh announced his retirement from the top post upon completion of his current tenure on July 9, 2024.
Bandhan bank’s CEO Chandra Shekhar Ghosh. (File)Shares of Bandhan Bank advanced over 1 per cent on Thursday (April 18) after hitting lower circuit in the previous session. Bandhan Bank shares are trading 2.05 points, or 1.18 per cent higher at 175.90. During the intraday session, the bank’s shares hit high at 176.40 while the lowest range was hit at 174.60.
The shares have…
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Money rule changes from May 1: Bank account and credit cards; deposit deadlines | Personal Finance News
ICICI Bank and YES Bank have revised their charges for savings bank accounts. YES Bank and IDFC First Bank have also tweaked the charges for utility bill payments using credit cards. HDFC Bank special F for senior citizens expires in May. Taxpayers must lin PAN with Aadhaar to avoid extra charges.
Key financial rule changes from May 1 2024. (Photo credit: Pexels)
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BFSI Companies Q4 Results Wrapup – ABP Live
BFSI Companies Q4 Results Wrapup ABP Live
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SBI Cards stocks: Hot Stocks: Brokerage view on SBI Cards, Persistent Systems, Karur Vysya Bank and PCBL
Brokerage firm Jefferies maintained a buy rating on SBI Cards and Payment Services, JPMorgan downgraded Persistent Systems to underweight, Emkay has a buy rating on Karur Vysya Bank, and ICICIdirect recommends a buy call on PCBL.We have collated a list of recommendations from top brokerage firms from ETNow and other sources:Jefferies on SBI Cards and Payment Services: Buy| Target Rs 1100Jefferies maintained a buy rating on SBI Cards and Payment Services with a target price of Rs 1100. “Industry card spending growth remains healthy despite UPI growth,” it said.“Strong spending and card net adds to the outlook. Credit costs are likely to stay elevated in the near term but should…
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IndusInd Bank’s Pilot Program with RBI’s Programmable CBDC: Revolutionizing Agricultural Finance
IndusInd Bank, in collaboration with Circularity Innovation Hub India Private Limited (CIH), has achieved a significant milestone by successfully executing the Reserve Bank of India’s pilot program on programmable Central Bank Digital Currency (CBDC). This pioneering initiative aims to revolutionize agricultural finance by targeting farmers for carbon credit generation. Pilot Project Details In this pilot project, IndusInd Bank programmed the CBDC to facilitate fund disbursement with a specific focus on aiding farmers in Ratnagiri district, Maharashtra. The bank initiated disbursements to 50 farmers initially, with plans to extend the program to cover approximately 1,000 farmers….
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Domestic Systemically Important Banks (D-SIBs) – Update (January, 2023) – GKToday
The Reserve Bank of India (RBI) has named the top three lenders in India – State Bank of India (SBI), ICICI Bank, and HDFC Bank – as Domestic Systemically Important Banks (D-SIBs), or banks that are too big to fail. In other words, these banks are interconnected entities whose failure could potentially impact the entire financial system and cause instability. As a result, they are subject to closer supervision and regulation by the RBI.
What is a D-SIB?
A D-SIB is a bank that is considered to be so important to the financial system that its failure could cause significant disruption. As a result, these banks are required to maintain higher capital buffers to protect against…
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Source: https://www.gktoday.in/domestic-systemically-important-banks-d-sibs-update-january-2023/?amp=1
L&T Technology Q4 Results Review
Axis Securities Report
In Q4 FY24, L&T Technology Services Ltd. reported revenue of Rs 2,538 crore, up 5% QoQ. The company reported operating profits of Rs 428 crore, posting growth of 2.9% on a QoQ basis. The company’s operating margins declined by 30 basis points to 16.9%, which was largely led by better cost management and reduced onsite expenses during the quarter. Its net profit for Q4 FY24 stood at Rs 341 crore, registering a growth of 1.4% on a QoQ basis.
SBI partners with HCLSoftware for digital transformation
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The country’s largest lender, the State Bank of India, on April 26 partnered with HCLSoftware, the software business unit of HCLTech, for the bank’s digital transformation.
“As part of the five-year agreement, HCLSoftware will deploy the HCL Unica platform to enable SBI to digitally transform its customer interaction framework and provide hyper-personalized communication across the bank’s diverse digital marketing channels, while adhering to the Digital Personal Data Protection Act (DPDPA) and other stringent…
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PSU FD: Union Bank of India Hikes FD Rates Up To 7.25%; Senior Citizens To Get 50 Bps Additional Returns – Goodreturns
PSU FD: Union Bank of India Hikes FD Rates Up To 7.25%; Senior Citizens To Get 50 Bps Additional Returns Goodreturns
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