Profit may grow 16% YoY on healthy interest income; margins seen steady

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IndusInd Bank is likely to report 17 percent year-on-year (YoY) rise in net interest income (NII) in the October-December quarter (Q3FY23-24) led by strong credit growth, said analysts. Profit, too, is seen to be growing by 16.5 percent YoY, aided by healthy income and margin improvement. The private sector lender will report Q3 results on January 18.
According to an average estimate of five brokerages, IndusInd Bank’s NII is projected to grow to Rs 5,251 crore in Q3FY23-24 compared to Rs 4,495 crore in…
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Source: https://www.moneycontrol.com/news/business/markets/indusind-bank-q3-preview-profit-may-grow-16-yoy-on-healthy-interest-income-margins-seen-steady-12071341.html/amp

Karur Vysya Bank share price Today Live Updates : Karur Vysya Bank closed

Karur Vysya Bank Stock Price TodayKarur Vysya Bank Share Price Today : On the last day, Karur Vysya Bank opened at ₹173.75 and closed at ₹174.5. The stock reached a high of ₹175.75 and a low of ₹171.35. The market capitalization of the bank is currently ₹13,979.41 crore. The 52-week high for the bank’s stock is ₹176.75, while the 52-week low is ₹92.8. The BSE volume for the day was 172,683 shares.Disclaimer: This is an AI-generated live blog and has not been edited by MintGenie staff.
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Source: https://mintgenie.livemint.com/news/markets/karur-vysya-bank-share-price-live-blog-for-17-jan-2024-151705460632192

RBI deputy calls on government to tackle bankruptcy backlog

India’s government should intervene to ease the backlog of cases piling up in the bankruptcy courts, a central bank deputy governor said today (January 17).Swaminathan Janakiraman of the Reserve Bank of India told delegates at a conference in Mumbai that there was a “pressing need” for the authorities “to invest in building the capacity of adjudicating authorities”. He added that the government might need to bring forward legislation to address shortcomings in the Insolvency and Bankruptcy Code
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Source: https://www.centralbanking.com/central-banks/financial-stability/7960643/rbi-deputy-calls-on-government-to-tackle-bankruptcy-backlog

Stock and Share Market News, Economy and Finance News, Sensex, Nifty, Global Market, NSE, BSE Live IPO News

SKYMET predicts India is likely to experience average monsoon conditions in 2024| Commodities corner

In the “Preliminary Monsoon Forecast Guidance for 2024,” Skymet foresees the approaching monsoon as being categorized as ‘normal.’ This year is likely to be one of those characterized by a robust commencement, progressing steadily and concluding approximately midway within the normal range. The standard range for normal rainfall is defined as 96-104% of LPA (868.6mm). Catch Manisha Gupta in conversation with G P Sharma, President, Meteorology & Climate CHange, Skymet

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Source: https://www.moneycontrol.com/

IREDA, Indian Overseas Bank ink pact to co-finance renewable energy projects, ET EnergyWorld

New Delhi: State-owned IREDA on Tuesday announced a partnership with Indian Overseas Bank (IOB) to co-finance renewable energy projects in India. The agreement was signed in the presence of IREDA CMD Pradip Kumar Das and IOB MD and CEO Ajay Kumar Srivastava in the national capital, a statement said. Indian Renewable Energy Development Agency (IREDA) and Indian Overseas Bank have joined hands by signing a memorandum of understanding (MoU). The agreement sets the stage for co-lending and loan syndication for a diverse spectrum of renewable energy projects across the nation, it added. The IREDA CMD said, “By combining our strengths and…
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Source: https://energy.economictimes.indiatimes.com/news/renewable/ireda-indian-overseas-bank-ink-pact-to-co-finance-renewable-energy-projects/106913420?utm_source=latest_news&utm_medium=homepage

SBI Life Insurance in collaboration with Mirchi kicks starts itsregional finale of the 13th edition of Spell Bee in Mumbai

Mumbai, 17th January 2024 – SBI Life Insurance, one of India’s most trusted private life insurers, kick started its regional finale of the 13th Edition of Spell Bee – ‘Spellmasters of India’, held in Mumbai. The regional finale saw participation from 50 students who were shortlisted out of 10230 studentsfrom across25 schools of Mumbai. The initiative aimed at not only enhancing spelling skills but also encouraging students from grades 5th to 9th to develop invaluable life skills&pursue their dreams.
Master. Rayaan Naveed Siddiqui, 13-year-old, student of Bombay Scottish School, Mahim studying in Std VIII wonthe Mumbai Regional Finale of SBI Life Spell Bee 2023 Edition. With…
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Source: https://businessnewsthisweek.com/news/sbi-life-insurance-in-collaboration-with-mirchi-kicks-starts-itsregional-finale-of-the-13th-edition-of-spell-bee-in-mumbai/

Stock and Share Market News, Economy and Finance News, Sensex, Nifty, Global Market, NSE, BSE Live IPO News

SKYMET predicts India is likely to experience average monsoon conditions in 2024| Commodities corner

In the “Preliminary Monsoon Forecast Guidance for 2024,” Skymet foresees the approaching monsoon as being categorized as ‘normal.’ This year is likely to be one of those characterized by a robust commencement, progressing steadily and concluding approximately midway within the normal range. The standard range for normal rainfall is defined as 96-104% of LPA (868.6mm). Catch Manisha Gupta in conversation with G P Sharma, President, Meteorology & Climate CHange, Skymet

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Source: https://www.moneycontrol.com/

2 More Arrested In Canara Bank Gold Loan Fraud Case

Mandsaur (Madhya Pradesh): Malhargarh police arrested two more persons in connection with the gold loan fraud case at Canara Bank which dates back to 2020. Around 87 people cheated the bank by mortgaging fake gold to the bank. As per details, the main accused was identified as Rajesh Soni who was working as a bank manager, Canara Bank branch and used to assess the authenticity of gold as well as the valuation of the yellow metal. Senior police officials said that Soni used to arrange customers and certify fake gold as original.On the basis of his report, the bank used to sanction gold loans to the customers. It was alleged that around 49 customers had pledged fake gold and availed…
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Source: https://www.freepressjournal.in/indore/mp-2-more-arrested-in-canara-bank-gold-loan-fraud-case

CSB Bank collaborates with Tata Motors to offer attractive financing solutions for commercial vehicle dealerships



The partnership will enable the network of Tata Motors’ dealers to get access to flexible and specialised financial schemes to enhance their operations.


CSB Bank has signed a Memorandum of Understanding (MoU) with TataMotors, India’s largest commercial vehicle manufacturer, is offering customised financial solutions for dealers in the Commercial Vehicle segment. 

The partnership will enable the network of Tata Motors’ dealers to get access to flexible and specialised financial schemes to enhance their operations. 

Commenting on the partnership, Narendra Dixit, Head – Retail Banking and Group Head, CSB…
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Source: https://www.autocarpro.in/news/csb-bank-collaborates-with-tata-motors-to-offer-attractive-financing-solutions-for-commercial-vehicle-dealerships-117396?amp=1