Tag Archives: Bank

S&P Downgrades Union Bank On Weak Asset Quality

S&P lowered its long-term issuer credit rating on Union Bank of India to ‘BB+’ from ‘BBB-‘. Mumbai: International ratings agency Standard & Poor’s (S&P) on Friday lowered its long-term issuer credit rating on Union Bank of India (UBI) to ‘BB+’ from ‘BBB-‘, citing weak asset quality, but retained a stable outlook on the state-run lender. “We are lowering our long-term issuer ... Read More »

SBI Clears Merger Of 5 Associates, Bharatiya Mahila Bank With Itself

SBI approved scheme of merger of five associate lenders and Bharatiya Mahila Bank with itself. New Delhi: In a bid to create global size bank, the board of State Bank of India on Thursday approved scheme of merger of five associate lenders and Bharatiya Mahila Bank (BMB) with itself while protecting the interest of the existing staff. “The central board of ... Read More »

Five Lakh Bank Employees To Go On One-Day Strike

Employees of PSU banks, private banks, foreign banks and co-operative banks will join strike Chennai: Around five lakh bankers will go on strike on September 2 protesting against the central government’s economic polices and anti-labour reform measures, the All India Bank Employees’ Association (AIBEA) said on Thursday. In a statement, the AIBEA said at the call for the National General ... Read More »

Axis Bank Lowers Lending Rate

New Delhi: Private sector lender Axis Bank on Wednesday cut its lending rate by 0.05 per cent, a move which will lower EMIs for its new borrowers. The new rate for one-year lending tenure has been reduced to 9.25 per cent from 9.30 per cent, Axis Bank said in a statement. Similarly, the two-year marginal cost of funds-based lending rate (MCLR) stands reduced to 9.35 ... Read More »

HDFC Bank, 7 Other Firms Add Rs 57,965 Crore To Market Value

New Delhi: Combined market valuation of eight of the top ten most valued Indian companies surged by Rs 57,965.56 crore during the week ended July 15, amid a positive broader market trend. Barring Infosys and Sun Pharma, the rest of eight companies saw a jump in their market capitalisation (M-Cap) for the week. The M-Cap of HDFC Bank, which was ... Read More »

IndusInd Bank Q1 Net Up 26% But Higher Bad Loans Weigh On Shares

The bank’s net NPAs as a percentage of total advances ticked up sequentially to 0.38% in Q1. Private sector lender IndusInd Bank kicked off the first quarter earnings season on a strong note by reporting a 26 per cent jump in its quarterly net profit. IndusInd Bank reported a net profit of Rs 661 crore in the quarter ended June ... Read More »

ICICI Bank Launches Contactless Mobile Payment Solution

ICICI Bank has launched contactless mobile payment solution through which its customers will be able to make payments by waving their cell phones near a contactless merchant terminal. The bank said in a statement Tuesday that it has “unveiled the country’s first contactless mobile payment solution to enable its credit and debit customers make in-store contactless payments by just waving ... Read More »

Xiaomi Launches 10000mAh Mi Power Bank Pro With Slimmer Build, Faster Charging

Xiaomi, besides launching its Redmi Note 3 in India last week, also launched its 10000mAh Mi Power Bank Pro with USB Type-C in China. The company additionally announced its Mi Box 3 Enhanced Edition media player. Priced at CNY 149 (roughly Rs. 1,500), the power bank like other Mi Power Bank units sports an aluminium body along with temperature, input ... Read More »

Buy Oil Stocks, Sell ICICI Bank, BHEL: Shrikant Chouhan

Domestic stock markets have fallen sharply ahead of the presentation of the annual budget on Monday. NDTV Profit caught up with Shrikant Chouhan, technical analyst with Kotak Securities, to discuss his trading strategies: Sell ICICI Bank: The stock is trading below its crucial level of Rs 210, it has support around Rs 150-155. In the near term, ICICI Bank can ... Read More »

Buy Bank of Baroda, Axis Bank, Avoid Just Dial: Ruchit Jain

Ruchit Jain says market bottom is still not in place. Ruchit Jain, equity technical analyst at Angel Broking, says there is no certainty that a market bottom is in place. A pullback towards 7,240 is possible as long as Nifty holds 6,870, he added. (Watch) Stock Talk Buy Bank of Baroda: The stock has broken on the upside with good volumes ... Read More »