IDFC First Bank’s net profit for Q3FY25 declined sharply by 52.6% year-on-year (YoY) to ₹339.4 crore, compared to ₹715.7 crore in the same quarter last fiscal year. This decline in profitability was primarily due to higher provisions driven by increased loan slippages. The bank’s net profit came in lower than the CNBC-TV18 poll estimate of […]
Credit card bill payments via BBPS— what are the benefits for banks and customers – CNBC TV18
In today’s fast-evolving digital payments landscape, ensuring a seamless, secure, and efficient process for bill payments has become crucial for both consumers and financial institutions. With the rapid growth of unsecured lending, particularly in personal loans and credit cards, managing risks in this sector has become even more important. Index Fund Corner Sponsored Scheme Name […]
Union Bank of India expects credit growth of 10-11% for FY25 – CNBC TV18
Srinivasan Varadarajan, Non-Executive Chairman of Union Bank of India, expects credit growth to in the range of 10-11% for FY25. In an interview with CNBC-TV18, Varadarajan said that while credit growth may not surge dramatically, it is expected to stay steady or slightly lower across the banking system in the coming quarters. This is the […]
MTNL’s financial troubles deepen: Punjab and Sind Bank classifies account as non-performing asset – CNBC TV18
Mahanagar Telephone Nigam Ltd (MTNL) is facing financial challenges as Punjab and Sind Bank (PSB) on Thursday (October 17) has classified its account as a non-performing asset (NPA), effective October 8, 2024. This classification comes as a part of a broader trend, with several banks already having labelled MTNL’s debt as non-performing, indicating severe liquidity […]
SBI classifies MTNL as non-performaning account after repayment default – CNBC TV18
State-run telecom company Mahanagar Telephone Nigam Ltd. (MTNL) has defaulted on a loan payment to the State Bank of India (SBI), prompting the bank to classify the account as a Non-Performing Asset (NPA). In a letter to MTNL, disclosed in an exchange filing by the telecom company, SBI stated that the loan instalment and interest […]