IDFC to transfer lending business to new banking subsidiary

IDFC to transfer lending business to new banking subsidiary

The infrastructure finance company will issue one equity share in the new bank for every share held in IDFC Ltd
IOB reports net loss of Rs245 crore in Q2

IOB reports net loss of Rs245 crore in Q2

Net interest income dropped by 7% to Rs1,344.46 crore, lower than Rs1,452 crore reported last year
Retail banks aggressively investing in innovation: report

Retail banks aggressively investing in innovation: report

The study also found banks in developed countries investing more in innovation in 2014 compared with the previous year to keep pace with rising customer expectations
Andhra Bank’s Q2 profit more than doubles on low costs, high interest income

Andhra Bank’s Q2 profit more than doubles on low costs, high interest income

Andhra Bank’s profit stood at Rs144.49 crore, while interest income increased 15% to Rs.4,146.14 crore in the quarter
SBI cuts interest rate on short-term deposits to 5%

SBI cuts interest rate on short-term deposits to 5%

The new rate for 7-45 day deposits of up to Rs1 crore is down 100 basis points from 6% earlier
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More From financial services

Study details forex gains from black money recovery
Wed, Oct 29 2014. 08 04 PM

Study details forex gains from black money recovery

BoFA-ML says half of black money flight unearthed would add $30-35 billion to forex reserves
RBI allows all UCBs to act as PAN service agent
Wed, Oct 29 2014. 07 26 PM

RBI allows all UCBs to act as PAN service agent

The move aims to expand the scope of fee-based services offered by UCBs, says RBI
The secret history of Swiss bank accounts
Wed, Oct 29 2014. 04 57 PM

The secret history of Swiss bank accounts

Any account holder or client could seek damages against any bank or bankers that did not maintain his/her confidentiality
Govt mulls almost doubling injection into banks
Wed, Oct 29 2014. 03 04 PM

Govt mulls almost doubling injection into banks

The capital infusion will help the lenders boost credit amid rising bad loans as govt tries to revive an economy growing close to the slowest pace in a decade
OBC posts 16% jump in Q2 net profit to Rs291 crore
Wed, Oct 29 2014. 01 12 PM

OBC posts 16% jump in Q2 net profit to Rs291 crore

The bank reported a net profit of Rs291.4 crore for the second quarter, as against Rs251.4 crore a year ago
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