The downgrade was attributed to perceived growth and yield risks due to heightened competition
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During the April-June quarter, the bank witnessed a nearly 25 per cent rise in both deposits and advances, marking the highest growth among all public sector banks
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The bank has requested a response from RCom regarding these concerns, as disclosed in a regulatory filing
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Over the past two months, food costs, which constitute around half of the inflation basket, have surged notably
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Union MoS for Finance Bhagwat K Karad chaired a regional meeting to assess PM SVANidhi Scheme's progress in Eastern states, emphasising collaboration between banks and civic bodies for effective implementation.
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Health insurance, which covers medical expenses, operates as an agreement between an individual and an insurance company, where the latter agrees to cover specific medical costs in return for regular premium payments
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According to a regulatory filing, the company achieved an operational revenue of Rs 1,187.43 crore in the quarter ended 30 June 2023, marking a rise from Rs 935.07 crore in Q1FY23
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Among the banks that have raised their rates, Bank of Baroda (BoB) and Canara Bank have implemented a marginal cost of funds-based lending rate (MCLR) increase of five basis points each, while Bank of Maharashtra (BoM) has gone a step further with a 10 basis point hike
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