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

Dual-camera Lenovo K8 Note launched in India, priced at Rs 12,999

Chinese smartphone maker Lenovo on Wednesday launched the much-awaited ‘K8 Note’ in India at Rs 12,999 (3GB RAM and 32GB storage version) that comes with a dual-camera setup (13MP+5MP sensor with flash). The 4GB RAM and 64GB ROM variant will cost Rs 13,999. The device with first stock Android (7.1.1) has 13MP selfie camera that… Continue reading Dual-camera Lenovo K8 Note launched in India, priced at Rs 12,999

Record low credit growth: 1,000 cos borrowed Rs 1 lakh cr less in FY17

Financial News The record low bank credit growth of 5.1 per cent in FY17 was led by the top 1,000 listed corporates which saw their net loan outstanding decline by a whopping Rs 1 trillion in the reporting year, said a report. One-third of this massive contraction was led by just 10 companies, which cumulatively… Continue reading Record low credit growth: 1,000 cos borrowed Rs 1 lakh cr less in FY17

IDBI Bank to raise up to Rs 5,000 crore

Mumbai-based public sector lender IDBI Bank is seeking shareholders’ nod to raise equity capital of up to Rs 5,000 crore through various routes, including qualified institutional placement (QIP), to meet capital adequacy norms. In addition, the ailing bank will tap market to raise up to Rs 5,000 crore through infrastructure bonds and basel-III-compliant additional tier-I… Continue reading IDBI Bank to raise up to Rs 5,000 crore