Banking Sector
Hackers transferred Rs 12.90 crore from Mahesh Bank to 128 accounts
The bank's IT head K. Badrinath also said the customers' deposits and data are safe as the hackers transferred the money from the bank's remittance funds. He claimed that immediately after noticing the hacking, Mahesh Bank officials succeeded in stopping further transfers. "We also immediately alerted the banks where the money was transferred and requested them to put the transfers on hold," he said.
ICICI Bank's Q3 standalone net profit up 25% YoY
On a standalone basis, the profit after tax grew to Rs 6,194 crore, compared to Rs 4,940 crore in the corresponding period of the previous fiscal. Similarly, the bank's net interest income (NII) rose during the quarter under review, growing by 23 per cent to Rs 12,236 crore in Q3FY22 from Rs 9,912 crore in Q3FY21. "The net interest margin was 3.96 per cent in Q3-2022 compared to 3.67 per cent in Q3-2021 and 4 per cent in the quarter ended September 30, 2021 (Q2-2022).
Yes Bank's Q3 net profit up over 76% YoY
The bank's net profit rose to Rs 266 crore as against Rs 151 crore reported in the corresponding period of the previous fiscal. However, the bank's net interest income fell by 31.1 per cent for Q3FY22 to Rs 1,764 crore as against Rs 2,560 crore for Q3FY21. According to the lender, the gross NPA ratio improved to 14.7 per cent as on December 31, 2021, as against 15.4 per cent as on December 31, 2020.
Small finance banks' AuM seen rising 20% in FY22: ICRA
Small Finance Banks' main objective is to take basic banking activities to unserved and underserved sections including small business units, small and marginal farmers, micro and small industries, among others. Like other commercial banks, these banks can also lend and take deposits. As per the rating agency's report, even as the growth in portfolio is expected to drive an improvement in revenue, the expected elevated credit costs are likely to keep the profitability subdued in FY22.
Bank employees to go on with Dec 16-17 strike as key demand unmet
All India Bank Employees' Association General Secretary C.H. Venkatachalam said that at the conciliation meeting held in Delhi on Wednesday, where representatives of Indian Banks' Association (IBA) and the Finance Ministry were also present, the unions reiterated that they would defer the strike if the Central government assures them that it would defer the introduction of Banking Laws (Amendment) Bill 2021 in Parliament.
Bankers strike call for 16-17 Dec stands: AIBEA
He said the adjourned conciliation meeting called by the Additional Chief Labour Commissioner was held on Tuesday between the bank unions, Indian Banks Association (IBA) and the Government in Delhi. The Government representatives and IBA could not give any assurance on deferring the introduction of the Bill in Parliament. "Hence the strike on December 16-17 stands. The conciliation meeting was adjourned for Wednesday," Venkatachalam said.
Safeguarding depositors' money key to banks' prosperity: PM
"Banks play a big role in the prosperity of the country. And for the prosperity of the banks, it is equally important that the depositors' money is safe. If we want to save banks, then depositors have to be protected," Modi said at an event here themed 'Depositors First: Guaranteed Time-bound Deposit Insurance Payment up to Rs 5 lakh'. During the event, Modi handed over cheques to a few depositors whose hard-earned money was stuck because of some banks going bankrupt.
With transactions of 120 Cr every month, these Jharkhand women transform banking scene
Now the elderly do not have to stand in long queues after travelling 10-20 km for pension. Be it the farmers, who save money by working in the fields, or the students, who get benefits of government scholarships, everyone is getting banking services at home. The people of the villages know the women as 'Bank wali Didiya'. These women are associated with self-help groups -- 'Sakhi Mandals', which have been formed under the Centre's National Rural Livelihood Mission. In Jharkhand, the mission is being run through Jharkhand State Livelihood Promotion Society (JSLPS).
Specialised groups to address exporters' banking challenges: Minister
Speaking at the 'Banking Conclave on Exports' organised by FIEO in Mumbai on Friday, the minister announced formation of various groups to address the problems raised by exporters and other stakeholders consisting of FIEO, leading banks, IBA, Ministry of Commerce and Ministry of Finance including one on challenges of e-commerce retail exports.
BFS firms spend to benefit Indian IT companies
Commentary by BFS firms on IT spends in the Sep-21 quarter is similar to that in the previous quarters. A similar outlook has been shared by a newer set of players indicating that the trend is broad based. Accelerated investments in cloud and digital will continue in the near term and beyond making 2022E a strong year of IT spending.
Advertisement