Kotak Mahindra Bank has reported a consolidated profit after tax of Rs 1,747 crore up from Rs 1,441 crore in Q2FY18, implying a 21% rise. India’s major private sector lender Kotak Mahindra Bank has reported Q2 results in-line with estimates, with consolidated net profit rising 21% to Rs...
These niche banks can accept demand deposits, and issue ATM/debit cards, among other activities. Payments banks, however, cannot issue credit cards, and undertake lending activities. NSDL Payments Bank has commenced operations as a payments bank, the RBI said Monday. In November 2014, the RBI had granted ‘in-principle’ approval to...
Wells Fargo bankers chasing bonuses charged hundreds of clients inflated foreign transaction fees, The Wall Street Journal reported Monday. The report comes just over a year since Wells Fargo paid a $185 million fine for “widespread illegal” sales practices involving fees on 2 million deposit and credit-card accounts opened without customers’...
Over 77,000 payments bank accounts opened in Maharashtra, Goa postal circle, says official The Maharashtra and Goa Circle of India Post has got 77,339 customers for its payments bank since the facility was launched nationwide on September 1, a senior postal department official said Tuesday. The India Post...
HDFC earns Rs 787 crore from stake sale in mutual fund arm during September quarter Mortgage lender HDFC Ltd Wednesday said it earned Rs 787 crore from selling stake in the initial public offer (IPO) of HDFC Asset Management Company Ltd. During the September quarter, the proceeds from...
One of the biggest names in brick-and-mortar retail has filed for bankruptcy protection.  Toys R Us, which has some 1,600 Toys R Us and Babies R Us stores around the world, filed for Chapter 11 in a Virginia court late Monday over $5 billion in long-term debt. The company...
No relief! Bombay High Court upholds December 31 deadline for Kotak stake reduction The Bombay High Court on Monday refused to stay regulatory proceedings against Kotak Mahindra Bank in the event of its failure to meet the Reserve Bank of India’s (RBI) December 31 deadline on shareholding norms for...
The bank and Kochhar have been maintaining there had been no regulatory violations on their part and that she was not aware of specific business dealings of her husband. (Reuters) Regulator Sebi clarified on Wednesday that it has not received any settlement application from ICICI Bank or any...