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Provisioning on IL&FS account and claims from agri-insurance has hit the earnings of state owned General Insurance Corporation of India (GIC Re) that reported 86 per cent drop in year on year net profit for the quarter ended June 30, 2019 to Rs 109 crore.

IL&FS provisions hit GIC Re profit

The net profit was Rs 771.42 crore in the same period of last year. GIC Re is the country's largest reinsurer.

15 Aug 2019 1:29 AM IST

FIIs head home whenever the Fed raises interest rates and this affects the rupee.

Re plunges 62 paise, may weaken more

According to reports, the government is also mulling whether it should go ahead with sovereign foreign bond.

14 Aug 2019 1:30 AM IST

In the corporate segment, new companies are getting added to the stressed portfolio.

Earnings: Banks report rise in slippages in Q1

After sustained improvement over FY19, the country's largest lender, State Bank of India, disappointed on asset quality...

12 Aug 2019 1:06 AM IST

The agenda going forward is clear: The banks have to regain the confidence of investors so that they can raise funds from the capital markets and not be dependent on government. (Representational image)

Banks cut rates, to roll out repo-linked loans

Bank of India said that it has cut the one-year MCLR where more than 80 per cent of its loan book sits by 25 bps,...

10 Aug 2019 1:24 AM IST

Shaktikanta Das

RBI cuts rate 0.35 per cent, EMIs set to fall

The 35 basis points (bps) cut in the repo rate is unusual, as the RBI has been changing the interest rate by 25 or 50...

8 Aug 2019 2:04 AM IST

Economic Affairs Secretary Shaktikanta Das

RBI cuts rate 0.35 per cent, EMIs set to fall

The RBI itself has reduced its growth estimate down to 6.9 per cent for FY20, from the seven per cent it had projected...

8 Aug 2019 1:59 AM IST

Global rating agency Moodys Investors Service on Tuesday placed Yes Banks foreign currency issuer rating of Ba1 under review for downgrade.

Yes Bank ratings under review again

The private sector lender plans to raise about $1.2 billion, at least part of which is likely by the end of the second...

6 Aug 2019 2:42 AM IST

Banking on success

Anshula Kant has also been instrumental in cleaning the balance sheet of SBI which had a high proportion of bad loans as...

4 Aug 2019 12:01 AM IST

Leading public sector lenders State Bank of India (SBI) and Punjab National Bank (PNB) have put their 15 non-performing assets worth Rs 1,063 crore for sale.

SBI posts Rs 2,312 crore profit, but slippages rise

The lender had reported a net loss of Rs 4,876 crore during Q1FY19.

3 Aug 2019 1:18 AM IST

Private sector lender Axis Bank on Tuesday failed to meet street expectations as it reported higher slippages and had higher write-offs during Q1FY20.

Axis Bank numbers disappoint Street

The bank said it downgraded Rs 2,242 crore into the BB pool during the quarter mostly from stressed groups.

31 July 2019 2:07 AM IST

Finance Minister Nirmala Sitharaman

Bond yields dip on rate cut, foreign bond hopes

Sovereign bond rallied on Monday with the benchmark 10-year security dropping nine basis points to 6.43 per cent.

30 July 2019 1:21 AM IST

State Bank of India

SBI slashes deposit rates by 20-75 bps

For five years to up to 10 years, the new rate is 6.5 per cent.

30 July 2019 1:21 AM IST