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Unity Small Finance Bank Q3 Results: Net profit jumps 79% YoY to Rs 110 crore

Unity Small Finance Bank on Monday reported a 79% rise in net profit at Rs 110 crore for the December 2023 quarter against Rs 61 crore in the year-ago period. Operating profit was nearly three-fold higher at Rs 133 crore against Rs 47 crore.

Jaspal-bindra , Centrum-financial-services , Punjab-maharashtra-cooperative-bank , Centrum-group , Unity-small-finance-bank-on , Unity-small-finance-bank , Financial-services , Resilient-innovations , Maharashtra-cooperative-bank , Unity-sfb-q3-earnings , Unity-small-finance-bank-q3 , Unity-small-finance-bank-q3-update

2023 flashback: 17 cooperative banks closed down, highest in nine years

After 2014, a total of 60 cooperative banks -- both urban and rural -- were closed due to failure while three banks were revived including the Punjab & Maharashtra Cooperative Bank, which was merged with Unity Small Finance Bank. In 2022, a total of 12 cooperative banks shut shop.

India , Punjab-maharashtra-cooperative-bank , Unity-small-finance-bank , Reserve-bank , Maharashtra-cooperative-bank , Unity-small-finance , Banking-regulation-act , Cooperative-bank , Cooperative-bank-closure , Rbi , Banking

Defaulter Bailouts and Broken Trust: RBI's Views Swing like a Pendulum

When it comes to bank loan defaults, the Reserve Bank of India’s (RBI’s) views seem to swing from one extreme to another, like a pendulum. It started in 2016 with RBI requiring strict classification of non-performing assets (NPAs) and fraud accounts.

Bombay , Maharashtra , India , Nigeria , London , City-of , United-kingdom , Nigerian , Anil-ambani , Vijay-mallya , Jatin-mehta , Rajya-sabha

Crisis-ridden cooperative banks continue to face RBI's ire, 8 lose license in FY23

Reasons for license cancellation varied from inadequate capital to failure to comply with legal regulations under the Banking Regulation Act and lack of earning prospects in the future. In fiscal 2023, the Reserve Bank of India (RBI) cancelled licenses of eight cooperative banks and imposed monetary penalties for 114 times

India , Mudhol , Karnataka , Mudit-verma , Nandkishor-desai , Babaji-date-mahila-urban-bank , Laxmi-cooperative-bank , Shivalik-mercantile-cooperative-bank , National-federation-of-urban-cooperative-banks , Rupee-cooperative-bank , Shri-anand-cooperative-bank , Mudhol-cooperative-bank

Bankruptcy Law Changes: Without Extensive Public Consultation, a Hurried Amendment Will Be Full of New Loopholes and Issues

One of the best bits of news earlier this month was that the government seems serious about overhauling the bankruptcy Act in Budget 2023.

India , Uday-kotak , Monnet-ispat-energy , Financial-sector-legislative-reforms-commission , Supreme-court , Resolution-authority , Dewan-holding , Siva-industries , Sc-order-on-vidarbha-industries-gives , Infrastructure-leasing-financial-services , Maharashtra-cooperative-bank , Videocon-industries-to-vedanta

Shiv Sena MP Sanjay Raut's judicial custody extended till October 3

A special Prevention of Money Laundering Act (PMLA) court extended the judicial custody of Shiv Sena MP Sanjay Raut by 14 days till October 3 here on Monday.

Shiv , Rajasthan , India , Mumbai , Maharashtra , Goregaon , Patra-chawl , Pravin-raut , Sanjay-raut , Punjab-maharashtra-cooperative-bank , Money-laundering-act , Shiv-sena

After PMC Bank, Wadhawans duped Indian Bank of Rs 279 crore

The Chennai-based public sector Indian Bank has admitted to a major loan default of Rs 279 crore by the realty group, Housing Development & Infrastructure Ltd (HDIL) Mumbai, and its suspended Directors -- Rakesh Kumar Wadhawan and son ...

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After PMC Bank, HDIL's Wadhawan duped Indian Bank of Rs279 crore

The Chennai-based public sector Indian Bank has admitted to a major loan default of Rs 279 crore by the realty group, Housing Development & Infrastructure Ltd (HDIL) Mumbai, and its suspended Directors -- Rakesh Kumar Wadhawan and son Sarang Wadhawan.

Mumbai , Maharashtra , India , Bombay , Chennai , Tamil-nadu , Nirmala-sitharaman , Sarang-wadhawan , Kapil-wadhawan , Rakesh-kumar-wadhawan , Dheeraj-wadhawan , Rana-kapoor

Size matters: RBI issues revised Regulatory Framework for UCBS

In response to urban cooperative banks’ long pending demand that a uniform framework cannot be applied to the entire sector, RBI has issued a revised Regulatory Framew

India , Applicable-to-cooperative-societies , Saraswat-bank-or-cosmos , Umbrella-organization , A-reserve-bank , Expert-committee , Expert-committee-on , Punjab-maharashtra-cooperative-bank , Regulatory-framework , Saraswat-bank , Cosmos-bank

Size matters: RBI issues revised Regulatory Framework for UCBS

In response to urban cooperative banks’ long pending demand that a uniform framework cannot be applied to the entire sector, RBI has issued a revised Regulatory Framew

India , Applicable-to-cooperative-societies , Saraswat-bank-or-cosmos , Umbrella-organization , A-reserve-bank , Expert-committee , Expert-committee-on , Punjab-maharashtra-cooperative-bank , Regulatory-framework , Saraswat-bank , Cosmos-bank