Sashidhar Jagdishan to take over as HDFC Bank CEO from Aditya Puri: Reports

The Reserve Bank of India (RBI) has given approval to HDFC Bank to replace its CEO Aditya Puri with Sashidhar Jadishan, said reports from various media houses on Tuesday. Aditya Puri, who has been at helm of HDFC Bank since 1994, will move out from office in October 2020 after turning 70. At the recently […]

Sashidhar Jagdishan to take over as HDFC Bank CEO from Aditya Puri

The Reserve Bank of India (RBI) has given approval to HDFC Bank to replace its CEO Aditya Puri with Sashidhar Jagdishan. Aditya Puri, who has been at helm of HDFC Bank since 1994, will move out from office in October 2020 after turning 70. Jagdishan will take over on October 27, 2020 for a period […]

ICICI Bank slashes lending rates by 10 bps across tenors

ICICI Bank has reduced the marginal cost of funds-based lending rates (MCLR) by 10 basis points across all tenors. The revised rates of the bank became effective from August 1, 2020.The present MCLR for the private lender is 7.20%-7.45% as against 7.30%-7.55% earlier. Its overnight and one-year rates were slashed to 7.20% and 7.45% whereas […]

SBM Bank collaborates with InstaReM to enhance outbound remittance

SBM Bank India has partnered with InstaReM, the consumer and SME brand under global fintech platform Nium, to improve existing outbound remittance service offerings from India, including introduction of new remittance corridors, increased frequency of transactions for outbound transactions and enhanced delivery timings for transfers. Neeraj Sinha, head of retail and consumer banking, SBM Bank […]

India’s HDFC Bank gets central bank nod on new chief

Jagdishan, currently the head of finance at Mumbai-based HDFC Bank, will replace incumbent CEO Aditya Puri, who has been at the helm of the bank since its inception in 1994. Puri is set to retire in October.

Banks sanction Rs 1.36 lakh cr under ECLGS: CARE Ratings

Emergency Credit Line Guarantee Scheme (ECLGS) till July 29, a CARE Ratings report said on Monday.The total sanctioned amount works out to be 46 per cent of the target of Rs 3 lakh crore set up by the government while announcing the relief package for industry, especially the MSME sector, which was hit hard by […]

ICICI Bank quarterly profit misses estimates as provisions soar

Net profit at the country’s second-largest private lender for the quarter ending June 30 was 25.99 billion rupees ($347.69 million) compared with a profit of 19.08 billion rupees ($255.25 million) in the same period a year ago, the bank said in a regulatory filing.

UPDATE 1-Indian banks’ bad debt ratio could hit nearly 15% by March in worst-case scenario -report

As India’s economy feels the impact of the COVID-19 pandemic, macro stress tests indicate that the gross NPA ratio of all banks could increase to 12.5% by next March under a baseline scenario and may escalate to 14.7% under a very severely stressed scenario, the report said. It did not give details of that scenario.

Indian banks’ bad debt ratio could hit nearly 15% by March in worst-case scenario – report

FINANCIAL SECTOR RISKS The report highlighted that relief measures for borrowers introduced as part of measures to help India’s economy through the pandemic, such as deferments of loan and interest payments for six months, may have implications for the financial health of banks, going forward.

Bank of India Invites Applications for 28 Posts of Clerk and General Banking Officer

On Google type Bank of India in the search box. When the search result appears, click on the Career option. Then, click on the link for Recruitment of Sportspersons. Following which, you will be directed to a new page. There, click on apply online. Fill the application and submit the application fee.