Banking industry
Amid the COVID-19 pandemic's economic shockwaves, Indian banks are on a treacherous journey, wrestling with the consequences of massive loan restructuring and potential default. Billionaire Uday Kotak, founder of Kotak Mahindra Bank, cautions that banks may not reveal the truth about their loan portfolios for a long time,
Banking industry
Nifty PSU Bank stocks were trading lower at 11:50AM on Tuesday, with Bank of Baroda leading the decline at 2.47 per cent. The Nifty PSU Bank index was trading 0.47 per cent down at 1431.15, while the benchmark NSE Nifty 50 index was up 59.40
Banking industry
The Reserve Bank of India (RBI) has launched an investigation into the funding arrangements between some private banks and stock brokers, following a dispute over a share-settlement process. The central bank has written to the Securities and Exchange Board of India (Sebi) seeking details about Fixed Deposit Receipts (FDRs), an
Banking industry
Markets in India saw a mixed trade in banking shares during Tuesday's session. While some banks such as HDFC Bank, IDFCBANK, and RBLBANK saw significant gains, others like IndusInd Bank, Punjab National Bank, and State Bank of India faced losses. The Nifty Bank index was up 1.64
Banking industry
Sberbank has partnered with Evotor, a Sberbank ecosystem company, to launch Evotor 5i, a new smart POS model designed for small businesses and microenterprises. This innovative Android solution is tailored for courier services, online stores, shops with home delivery, passenger transportation entities, and itinerant retailers. The Evotor 5i smart POS
Banking industry
Users of Sberbank Online can now invest in one of five low-entry investment portfolios, offering a range of options tailored to different risk and yield expectations. These portfolios mimic stock market changes through stock exchange-traded fund sales, providing a more affordable option compared to traditional bank investments. The minimum down
Banking industry
The Covid-19 pandemic has led to a significant drop in new loan applications and sales of third-party products, impacting fee-based income for banks. Fee income constitutes a substantial portion of non-interest revenues for private sector lenders, with forecasts indicating a major hit to this revenue source. HDFC Bank, the country&
Banking industry
The Speech Technology Center Group, in collaboration with Sberbank's ecosystem, has launched the Voice2med project, integrating voice recognition technology to enhance data entry in Electronic Health Records (EHRs) across 35 hospitals in Mordovia, Russia. This innovative solution leverages artificial intelligence to enable doctors to dictate data during physical
Banking industry
As the COVID-19 pandemic continues to impact the tourism industry globally, Sberbank, Google, and Russia's Federal Agency for Tourism have launched a new training course to help small and medium-sized businesses in the industry adapt to the challenging conditions. The course, "Tourism: How to Start a Business
Banking industry
In a significant development, ICICI Bank's board has approved a proposal to raise Rs 15,000 crore through fresh equity issuance, taking the total tally of completed and proposed equity issuances by banks this year to nearly Rs 80,000 crore. Banks are seizing the opportunity to raise
Banking industry
The Suzlon Group, a leading wind turbine manufacturer, has successfully completed its debt restructuring process with the unanimous approval of secured lenders. As part of the restructuring, the company has reduced its Term Debt substantially, with an interest rate of 9% per annum, repayable over 10 years starting July 1,
Banking industry
Berkshire Hathaway, the conglomerate led by Warren Buffett, has a portfolio that is not well-suited for the economic landscape of the coronavirus pandemic. According to "Mad Money" host Jim Cramer, the company's reliance on financial services and its failure to adapt to the shift towards technology
