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Weekend working: Know which offices will be open on March 30 and March 31

India's Reserve Bank, Insurance Regulatory Development Authority, and Income Tax Department have declared March 31 as a working day to facilitate timely financial transactions and tax obligations.

Jammu , Jammu-and-kashmir , India , Canara , Karnataka , Tamilnad , Tamil-nadu , Kashmir , Baroda , Gujarat , Vikas-patra , Punjab-national-bank

Banks to remain open on this Sunday, March 31. Check what is available and what is not available.

The RBI has designated 33 agency banks to remain operational on this significant date. The list includes 12 public sector banks like State Bank of India (SBI) and Bank of Baroda (BoB), along with 20 private sector banks such as HDFC Bank Ltd and ICICI Bank Ltd.

Karnataka , India , Tamilnad , Tamil-nadu , Baroda , Gujarat , Jammu , Jammu-and-kashmir , Kashmir , Canara , Vikas-patra , Public-provident-fund

Merged or otherwise, PSBs aren't the big movers anymore

The merger exercise of 2020 hasn’t arrested the market share contraction of public sector banks either. In FY20, PSBs accounted for 58 percent of the credit and held 62 percent of deposits which dropped to 54 percent share in credit and 59 percent of share in deposits by FY23.

Mergers , Su-banks , Oan-market , Eposits , Arket-share , Rivate-sector-banks ,

RBI 'closely' watching high attrition at some private banks: Shaktikanta Das | Business News

Speaking at the annual BFSI Insight Summit organised by Business Standard, Das said the Reserve Bank of India (RBI) is looking at the issue as part of the regulatory supervision efforts.

Shaktikanta-das , Rbi-governor , Haktikanta-das , Rivate-sector-banks , Rivate-banks-attrition , Entral-bank , Fsi-insight-summit , Bi-regulation ,

Govt to hold special drive for business loans, details of migrant labourers

The districts were also directed to review the status of student credit cards.

West-bengal , Chief-secretary-harikrishna-dwivedi , Special-drive-for-business-loans , Engal-migrant-labourers , Engal-govt-news , Engal-wlfare-scheme , Rivate-sector-banks , Habishyat-credit-card-scheme , Ndian-express-news ,

HDFC Bank will re-rate in next 12-18 months: Nitin Aggarwal of Motilal Oswal

The HDFC Bank stock traded flat at Rs 1,554.50 on September 21 and has delivered a negative 1.78 percent return over the past month.

Nitin-aggarwal , Bank-to , Motilal-oswal-financial-services , Motilal-oswal-financial , Hdfc-bank-ltd- , Arket , Ifty , Uzzing-stocks , Anking-sector , Cici-bank-ltd- , Su-banks , Rivate-sector-banks

Private banks more aggressive in writing off bad loans than public banks

The ratio of write-offs to gross non-performing assets (GNPAs) in private banks was 47.9 per cent, much higher than 22.2 per cent in public banks

India , World-bank-financial-sector-advisory-centre , Reserve-bank , Karlis-bauze , World-bank , Financial-sector-advisory-centre , Bad-loans , On-performing-assets , Bi , Rivate-banks , Ublic-banks

RBI To Levy Penalties On Banks That Lose Property Papers Of Borrowers

The panel led by former deputy RBI governor B P Kanungo, presented its report to the central bank in April this year, and this suggestion is a part of a slew of recommendations made in it.

New-delhi , Delhi , India , Rbi , Eserve-bank-of-india , Ublic-sector-banks , Rivate-sector-banks , Oan-documents , Ocuments-needed-to-take-loan , Ocuments-for-loan ,

Star Housing Finance Limited, a rural focused home finance company posts 100 per cent+ y-o-y growth in FY '2022-23

Mumbai (Maharashtra) [India], April 24 (ANI/PNN): Star Housing Finance Limited (Star HFL), (BSE Scrip code BOM: 539017) a rural focused home finance company has recorded robust performance for the year ending Mar 31, 2023. The Board of Directors have today approved the full year audited financial results. FY'2022-23 has been the first operational year wherein Star HFL has registered 100 per cent+ y-o-y growth. The scale up under a strong underwriting and risk framework has resulted in build up of quality retail low ticket home loan book Key Operational & Financial Highlights: Gross Loan Book: The gross loan book as of Mar 31, 2023 has increased y-o-y by 136.33 per cent inching towards Rs.250 crs mark during FY'2022-23 Build up of Quality AUM: Focused in house receivable management program with strong customer engagement through the loan life cycle has resulted in PAR (0+ dpd) getting reduced from 27.2 per cent as of Mar 31, 2022 to now 5.06 per cent as on Mar 31, 2023. Incremental book since Oct 2019 is 98 per cent+ retail (average ticket size of 12-13 lakhs) having PAR of 0.68 per cent and zero NPA As of Mar 31, 2023, GNPA stands at 1.68 per cent and NNPA stands at 1.25 per cent Geographically Diversified Scale Up: The AUM is build across the states of Maharashtra (Extended Mumbai Region: 25 per cent, Extended Pune Region: 26 per cent, Vidarbha Region: 11 per cent), Madhya Pradesh (10 per cent), Gujarat (5 per cent), Rajasthan (18 per cent) and Tamil Nadu (5 per cent) During the year Star HFL has doubled its physical presence to now 14 branches. Coupled with digital PoPs, the Company is now present at 30+ locations across operational geographies with a staff count of 150+ employees, more than 40 per cent of which are in underwriting and collection functions at branches Net Worth crosses Rs.100 crs: Star HFL has successfully raised capital in two rounds in FY'2022-23 which saw participation from reputed professionals from capital markets and BFSI space. The shareholding profile is augmented with participation from individual investors, institutional entities, a family office and an FPI. Star HFL now has an eco-system of more than 6500 shareholders. Courtesy these rounds, the net worth has crossed Rs.100 crs and stands at Rs.106.42 crs as of Mar 31, 2023. Strong Liability Machinery: Star HFL has relationship with public sector banks, private sector banks, financial institutions and the National Housing Bank. During the year the Company has raised fresh term loans from 11 banks and FIs with current outstanding of Rs.111.6 crs. FY'2022-23 saw first term loan received from a social impact fund. Total borrowings outstanding as of March 31, 2023 is Rs.162.5 crs. Through the year, Star HFL has developed robust pipeline and shall continue to expand the engagement with other institutions in banking space Top Line Growth: For the 12 months period ending March 31, 2023, the total income increased by 92.32 per cent y-o-y Expenses: Investment in quality manpower as required per the growth plan and related expansion in operational geographies has resulted in employee expenses increasing by 27.55 per cent y-o-y. Total operating expenses have increased by 51 per cent y-o-y primarily attributable to capacity creation for future build up and the scale up that happened in FY'2022-23. Bottom line growth: For the 12 months period ending March 31, 2023, PBT increased by 507 per cent y-o-y. Removing the exceptional non-cash expense line, PBT has increased by 328 per cent y-o-y. For the 12 months period ending March 31, 2023, PAT increased by 1021 per cent y-o-y. Removing the exceptional non-cash expense line, PAT has increased by 467 per cent y-o-y Employee Ownership Enabled: FY'2022-23 saw exercise of first tranche of ESOP I scheme ensuring participation of eligible employees as owners of the Company. Subject to all approvals and compliances in place, Star HFL looks forward to expand the ambit of employee ownership through further ESOP schemes through the growth journey Strong and Reputed Board: Star HFL is governed by strong and an independent board comprising of reputed professionals from BFSI space viz. Amlendra Prasad Saxena, (Ex GM, NHB); Ajith Lakshmanan (Ex ED of LIC of India), Pradip Kumar Das (ex-ED IDBI Bank) and Neelam Tater (Professional CA & CS) Outlook Upgraded: Taking a note of the Company's growth, quality of the loan book, established processes and risk framework, profile of the management team and overall corporate governance, CARE ratings has upgraded the outlook of the company to "Positive" in the fourth quarter of FY'2022-23 Financial Highlights - Key Financial and Operating Numbers / Ratios: Speaking on full year performance, Ashish Jain, MD of Star HFL said, "The leadership team had resolved in the beginning of the financial year that FY'2022-23 shall be the beginning of the growth journey for Star HFL and we are happy to have walked the talk registering 100 per cent+ y-o-y growth across key business areas, notably record disbursements during the year and resultant AUM growth. This growth is backed by robust processes and guidelines across operational areas and is governed by strong review mechanism at the level of senior management and the Board. Through liability program and capital raise, we have been able to mobilize funds to fuel the growth. Strong connect and follow up with customers has rationale PAR to lower single digits and this has provided us further confidence to grow our book. One feels that rural India story in housing courtesy rise in income levels, nuclearization, and physical/digital infrastructure development is set to unfold in coming years. Local level drivers in these geographies for growth in residential mortgages shall aid growth of rural focused housing companies like Star HFL. We as a team look forward to the exciting next few years for quality growth and create value for all stakeholders" Company Financials for FY2022-23 (Figures in Lakhs): Star Housing Finance Limited (Star HFL) is BSE listed rural focused housing finance company. The Company has been operational in the affordable housing finance space since 2009. Star HFL provides long term housing finance assistance to EWS/LIG families towards purchase/construction of low-cost housing units (affordable housing) in its operational geographies. Star HFL is a professionally managed Company with a presence across states of Maharashtra, Madhya Pradesh, Gujarat, Rajasthan and Tamil Nadu. Star HFL is registered as a Primary Lending Institution (PLI) under the Pradhan Mantri Awas Yojana (PMAY) and has received subsidy for its qualified customers under CLSS scheme. Star HFL has its Registered & Corporate Office in Mumbai, Maharashtra. This story is provided by PNN. ANI will not be responsible in any way for the content of this article. (ANI/PNN)

Madhya-pradesh , India , Pune , Maharashtra , Tamil-nadu , Mumbai , Ashish-jain , Pradip-kumar-das , Amlendra-prasad-saxena , Lending-institution , Company-financials , Corporate-office

Indian Army onboards 11 banks for Agniveer salary package | Details

In a bid to enhance entrepreneurial skills among Agniveers the banks have also offered loans to the exiting Agniveers.

Baroda , Gujarat , India , Genc-bansi-ponappa , Kotak-mahindra , Genv-sreehari , Seva-nidhi , Axis-bank , Punjab-national-bank , Indian-armed , Ministry-of-defence , Indian-army