The lender's board has recommended a dividend of Rs 1.30 per share or 13 per cent of Rs 10 face value from net profit for fiscal FY23
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In the individual non-single premium segment, it grew 10.49 per cent from Rs 5,501.12 crore in March 2022 to Rs 6,077.97 crore in March 2023
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The minister called for increasing bank penetration in rural areas. He directed banks to reduce the waiting period for loan disbursement, a release said
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In FY23, the bank added 83 new branches, bringing the total number of branches to 1,192, including 450 in semi-urban and rural areas
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The bank’s full year profit was at Rs 7,443 crore – up 55 per cent YoY and Net Worth of the Bank is in excess of Rs 50,000 crore at Rs 52,848 crore
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The RBI's next monetary policy committee meeting is scheduled to be held during 6-8 June 2023
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The transaction is expected to be completed by 3-6 months from the execution date
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The bank said the shareholders had voted in favour of appointing Kotak in a non-executive role on the bank’s board post the end of his tenure, and the resolution for the same received more than 99 per cent e-votes from members
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