Thursday, December 19

Tag: Federal Bank

RBI imposes penalty on PNB, Federal Bank, 2 other entities
3Nov By adminNo Comments
Business

RBI imposes penalty on PNB, Federal Bank, 2 other entities

MUMBAI: The Reserve Bank of India on Friday said it has imposed a Rs 72 lakh penalty on state-owned Punjab National Bank and a Rs 30 lakh penalty on private sector Federal Bank for non-compliance with certain regulatory norms.It has also imposed a penalty of Rs 10 lakh on Mercedes-Benz Financial Services India Private Ltd (formerly known as Daimler Financial Services India Private Ltd) for non-compliance with certain provisions of the Know Your Customer (KYC) Direction, 2016.The penalty on Punjab National Bank has been imposed for non-compliance with certain provisions related to 'interest rate on advances' and 'customer service in banks', Reserve Bank of India (RBI) said in a release.Federal Bank has been penalised for contravention of certain provisions of KYC norms, the central bank sa...
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Federal Bank sees its highest-ever profit of Rs 954 crore
17Oct By adminNo Comments
Business

Federal Bank sees its highest-ever profit of Rs 954 crore

MUMBAI: Federal Bank has reported its highest-ever quarterly net profit of Rs 954 crore for the September quarter, an increase of 36% over Rs 703 crore in the year-ago period. The increase in net profit followed a 20% year-on-year increase in loans to Rs 1.9 lakh crore and a 23% growth in deposits to Rs 2.3 lakh crore. Gross NPAs of the bank as at the end of Q2FY23 stood at Rs 4,436 crore - 2.3% of gross advances. !(function(f, b, e, v, n, t, s) { function loadFBEvents(isFBCampaignActive) { if (!isFBCampaignActive) { return; } (function(f, b, e, v, n, t, s) { if (f.fbq) return; n = f.fbq = function() { n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments); }; if (!f._fbq) f._fbq = n; n.push = n; ...
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Sensex, Nifty remain range-bound; Metal index gains 1.5%
16Oct By adminNo Comments
Business

Sensex, Nifty remain range-bound; Metal index gains 1.5%

Stock market LIVE updates: Equity markets were range-bound with negative bias on Monday as investors juggled between Q2-FY24 quarterly results of India Inc and geopolitical tensions between Israel and Gaza. The S&P BSE Sensex quoted at 66,245 levels, down 38 points or 0.06 per cent. The Nifty50, on the other hand, hovered around 19,750-mark.  In the broader markets, the BSE MidCap and SmallCap indices outperformed the market by rising 0.39 per cent and 0.52 per cent, respectively. Among individual stocks, shares of Delta Corp tanked 11 per cent after the company's subsidiary received notice for a goods and services tax of Rs 6,384 for payment of the shortfall tax. READ MORE Shares of Gujarat State Fertilizers & Chemicals Limited (GSFC) rallied 9 per cent on t...
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RBI allows HDFC AMC’s stake acquisition in DCB Bank, Karur Vysya, 2 others
21Sep By adminNo Comments
Business

RBI allows HDFC AMC’s stake acquisition in DCB Bank, Karur Vysya, 2 others

The Reserve Bank of India (RBI) has approved HDFC Asset Management Company (HDFC AMC) acquiring a 9.5 per cent stake each in DCB Bank, Karur Vysya Bank, Federal Bank and Equitas Small Finance Bank. “Pursuant to Regulation 30 and other applicable clauses of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that the Bank has received an intimation from RBI on September 20, 2023, regarding the approval granted to M/s. HDFC Asset Management Company Limited (“HDFC”) to acquire “aggregate holding” of up to 9.5% of the paid-up equity capital or voting rights in ESFBL,” said the small finance bank in an exchange filing on Thursday, Separately, an exchange statement by DCB Bank late Wednesday said: “AMC has been advised by th...
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