City Union Bank Q1 net up 14% at Rs 140 cr

City Union Bank (CUB) has reported a net profit of Rs 140.32 crore during the quarter ended June 30, 2017, as compared to Rs 123.52 crore, a year ago, an increase of 14%. The bank is planning to seek shareholders approval for a Rs 500-crore Qualified Institutional Placement (QIP). N Kamakodi, managing director and chief… Continue reading City Union Bank Q1 net up 14% at Rs 140 cr

Go electronic to pay credit card bills

Since the beginning of the financial year, banks have been increasing their charges for the services they offer at the branch, especially for cash deposits and withdrawals. Most banks now also charge a fee for payment of credit card bill made in cash at a branch. By thus punishing customers for credit card bill payments… Continue reading Go electronic to pay credit card bills

Debtors can’t be allowed to paralyse banking system, says Arun Jaitley

Finance Minister Arun Jaitley on Thursday said public sector banks needed the Banking Regulations Ordinance in order to be able to take decisions without fear of being subjected to investigation later. Replying to a debate on amendments to the Banking Regulations Act, Jaitley, who also holds the defence and corporate affairs portfolios, said the decision… Continue reading Debtors can’t be allowed to paralyse banking system, says Arun Jaitley

PNB Q1 net up 12% at Rs 343 cr; NPAs rise on farm loan waiver

Punjab National Bank has registered 12 per cent rise in net profit at Rs 343 crore during the first quarter of 2017-18, but farm debt waiver in some states has hit its bad debts.   The bank has got board approval to raise Rs 3,000 crore from equity and bonds each this financial year. Of… Continue reading PNB Q1 net up 12% at Rs 343 cr; NPAs rise on farm loan waiver

After Bajaj Fin buys 11% stake for $33 mn, MobiKwik aims to raise $120 mn

After raising over $33 million from Bajaj Finance Limited, mobile wallet firm MobiKwik is planning to bring in $120 million more, co-founder Upasana Taku said. On Wednesday, MobiKwik entered into a tie-up with Bajaj Finance, after the latter gave $33 million for 10.83 per cent stake in the company, taking the valuation of the mobile… Continue reading After Bajaj Fin buys 11% stake for $33 mn, MobiKwik aims to raise $120 mn

Insolvency case: Jaypee Infra must respond to petition by Aug 4, says NCLT

The National Company Law Tribunal (NCLT) on Thursday gave Jaypee Infratech time till August 4 to respond to a petition of insolvency filed by IDBI Bank after the company said it did not receive a notice from the tribunal on beginning the proceedings. IDBI Bank filed a petition for insolvency against Jaypee Infratech in the… Continue reading Insolvency case: Jaypee Infra must respond to petition by Aug 4, says NCLT