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Indian Bank Partners with Balinee Mi lk Producer Company

24Dec

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Indian Bank Partners with Balinee Mi lk Producer Company

Indian Bank Partners with Balinee Mi lk Producer Company Indian Bank Partners with Balinee Mil k Producer Company to Boost Digital D airy Financing Chennai, December 23rd, 2024: Indian Bank has signed an MoU with Balinee Milk Producer Company Limited (BMP CL) to provide Kisan Credit Card (KCC) loan ns to its members for dairy farm ing. This initiative will strengthen Indian Ba nk’s presence in the Bundelkhand regio n and enhance its Digital Dairy KCC por tfolio and CASA balance. BMPCL, with a network of 75,000 fema ale farmers and a daily milk collection of 3.25 lakh litres, will assist in identif ying eligible members and facilitating direct payments to their Indian Bank accounts. The partnership is expected to on-board 5,000 new dairy farmers in Banda, Jhan si, and Ch...

21Sep

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BANK

HDFC Bank Launches GIGA

HDFC Bank Launches GIGA A Complete Financial Suite of Products for Gig Workers Mumbai, September 20, 2024: HDFC Bank, India’s largest private sector bank, today launched GIGA – a complete financial suite of products and services designed especially for gig workers/ freelancers. As a start-point, the Bank conducted an in-depth consumer research study to understand the needs of freelancers, based on which, it has launched GIGA – a digital-first programme offering a host of customised products and services to address the requirements of freelancers. The gig economy stretches across the continuum of white-collar professionals such as management consultants, software programmers and designers, architects, investment advisors to grey collar workers that carry specific vocational/technical...

30Aug

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BANK, LAUNCH

RBI Deputy Governor launches include UPI Interoperable Cash Deposit at ATMs

RBI Deputy Governor Unveils Product Offerings for Transforming ATM Infrastructure at GFF 2024; RBI Executive Director Announces Rebranding of NBBL’s BBPS Platform to Bharat Connect RBI Deputy Governor launches include UPI Interoperable Cash Deposit at ATMs Chennai, 30 August 2024: The Reserve Bank of India (RBI) Deputy Governor Shri T. Rabi Sankar today announced the launch of product offerings aimed at transforming the ATM infrastructure in the country. Unveiled in association with National Payments Corporation of India (NPCI) at the Global Fintech Fest (GFF) 2024, the initiatives include UPI Interoperable Cash Deposit (UPI-ICD) and banks showcasing Digital Banking Units (DBUs). The introduction of UPI ICD allows customers to deposit cash at ATMs operated by banks and white label...

Indian Bank has announced its Q1 FY25results,

30Jul

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BANK, ENGLISH, PRESS MEET, TAMILNADU

Indian Bank has announced its Q1 FY25results,

Indian Bank has announced its Q1 FY2 5results, Indian Bank has announced its Q1 FY2 5results, Net Profit up by 41% YoY at ₹2 403Cr in Jun’24 from ₹1709 Cr in Jun’23 Financial Results for the Quarte ended 30th June 2024 Bank’s Global Business is at ₹12.20 lak h Cr, up by 11% YoY Key Highlights (Quarter ended Jun’24 over Jun’23) Net Profit up by 41% YoY at ₹2403 Cr in Jun’24 from ₹1709 Cr in Jun’23 Operating Profit improved by 9% YoY to ₹4502 Cr in Jun’24 from ₹4135 Cr in Jun’23 Net Interest Income increased by 8% YoY to ₹6178 Cr in Jun’24 from ₹5703 Cr in Jun’23 Fee based income grew by 17% YoY to ₹788 Cr in Jun’24 from ₹671 Cr in Jun’23 Return on Assets (RoA) up by 25 bps to 1.20% in Jun’24 from 0.95% in Jun’23 Return on Equity (RoE) increased by 188 bps to 1...

Kotak Life Insurance launches Kotak Gen2Gen Protect

28Jun

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BANK, ENGLISH, PRESS MEET, TAMILNADU

Kotak Life Insurance launches Kotak Gen2Gen Protect

Kotak Life Insurance launches Kotak Gen2Gen Protect · Protection plan that not only covers you but can also be passed on to your child as a legacy Chennai, June 27, 2024 Kotak Mahindra Life Insurance Company Ltd (“Kotak Life”) announced the launch of its new protection plan Kotak Gen2Gen Protect. This product offers an industry-first feature with an option of covering two generations with one plan, thus passing on the legacy of protection. Coming with a 100% guaranteed return of premium benefit on survival, Kotak Gen2Gen Protect offers a flexibility of transferring the complete risk cover to the child, when the parent (primary life insured) turns sixty or sixty-five years of age. Addionally, this risk cover stays on with the child till the age of sixty. ...

28Apr

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BANK, LAUNCH, OTHERS

DCB BANK ANNOUNCED ITS Q4FY24 RESULTS

DCB BANK ANNOUNCED ITS Q4FY24 RESULTSSharing an update on behalf of DCB Bank. The Bank has announced its Q4FY24 results, The Bank's Profit After Tax (PAT) for Q4 FY 2024 was at INR 156 Cr. In comparison Profit After Tax for Q4 FY 2023 was at INR 142 Cr reporting a growth of 9%. Notable points: · The Bank's Profit After Tax (PAT) for FY 2024 was IN 536 Cr. In comparison Profit After Tax for FY 2023 was at INR 466 Cr marking a growth of 15%. · Advances growth year-on-year was at 19% (Year-on-year Mortgages growth 22%, Co- lending growth 23%, Construction Finance growth 26% and Agri & Inclusive Banking growth 30%) and Deposit growth year-on-year was at 20%. .The Gross NPA ratio as on on March 31, 2024, was at 3.23%. Net NPA was at 1.11% as on March 31, 2024. · The Provision Coverag...

Indel Money Limited Launches Public Issue of up to Rs. 200 crores of Secured, Redeemable Non-Convertible Debentures (NCDs)

1Feb

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BANK, INDIA, INDUSTRIES, INSURANCE, INTERVIEWS, INVESTMENT, ONLINE ALL, PRESS MEET, SOCIAL MEDIA

Indel Money Limited Launches Public Issue of up to Rs. 200 crores of Secured, Redeemable Non-Convertible Debentures (NCDs)

Indel Money Limited Launches Public Issue of up to Rs. 200 crores of Secured, Redeemable Non-Convertible Debentures (NCDs) Secured NCDs of face value of Rs.1,000 each The Issue includes a Base Issue Size for an amount of up to Rs.100 crores with an option to retain over-subscription up to Rs. 100 crores aggregating up to Rs.200 crores issue opens on Tuesday, January 30th, 2024 and closes on Monday, February 12th, 2024 Doubling of investment in 72 months – Option VIII Coupon yielding up to 12.25% per annum Secured NCDs with tenure ranging from 366 days to 72 months Minimum application size 10 NCDs (Rs.10,000) across all Options of NCDs Chennai, 31 January 2024 Indel Money Limited, one of the fastest growing NBFC in the gold loan sector, announced the 4th public issue of Se...

Kotak Mahindra Life Insurance Launches T.U.L.I.P

5Jan

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BANK, ENGLISH, PRESS MEET, TAMILNADU

Kotak Mahindra Life Insurance Launches T.U.L.I.P

Kotak Mahindra Life Insurance Launches T.U.L.I.P * A unit linked term insurance that offers life cover upto 100 times of the annual premium Chennai, January 4, 2024: Kotak Mahindra Life Insurance Company Limited (Kotak Life) today announced the launch of T.U.L.I.P Term with Unit Linked Insurance Plan. T.U.L.I.P. is a unit linked term insurance plan that offers life cover upto 100 times of the annual premium while giving a customer the opportunity to earn returns like a unit linked insurance plan (ULIP). It also provides additi onal protection against critical illnesses and accidental death. Mahesh Balasubramanian, Managing Director, Kotak Mahindra Life Insurance Company Limited said, Customer centricity has always been the DNA at Kotak Life. TULIP offers our cus...

Jana Small Finance Bank and Manipal Academy of BFSI launches ‘Aspiring Bankers

21Nov

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BANK, ENGLISH, INDIA

Jana Small Finance Bank and Manipal Academy of BFSI launches ‘Aspiring Bankers

Jana Small Finance Bank and Manipal Academy of BFSI launches ‘Aspiring Bankers Program’ To hire and train the new generation of Personal Bankers in Karnataka and Tamil Nadu INDIA, 20 November 2023: Manipal Academy of BFSI has partnered with Jana Small Finance Bank to launch the 'Aspiring Bankers Program,' aimed to hire and train the next generation of Personal Bankers for Jana Small Finance Bank. The program, offered by the Manipal Academy of BFSI is aimed at identifying talent and providing intensive on-t he-job training. It aims to create a robust talent pipeline for Jana Small Finance Bank, serving the diverse comm unities of Karnataka and Tamil Nadu. The program is open to individuals with a graduate degree. Candidates enr olled in this program will be train...

Key Highlights (Quarter ended Sept 23 over Sept 22)

27Oct

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BANK, ENGLISH, PRESS MEET, TAMILNADU

Key Highlights (Quarter ended Sept 23 over Sept 22)

Indian Bank announces Q2 FY2024 results; Net profit up by 62% YoY Chennai, Oct 26, 2023 : SL Jain, MD & CEO of Indian Bank today announced Half year / Quarter ended 30th September 2023. He said that Bank’s Global Business reached ₹11.33 lakh Cr and Net profit up by 62% YoY, Operating Profit up by 19% YoY. Key Highlights (Quarter ended Sept 23 over Sept 22) Net Profit up by 62% YoY at ₹1988 Cr in Sep’23 from ₹1225 Cr in Sep’22 Profit Before Tax up by 75% YoY at ₹2752 Cr in Sep’23 from ₹1571 Cr in Sep’22 Operating Profit for Sep’23 up by 19% YoY at ₹4303 Cr from ₹3629 Cr in Sep’22 Net Interest Income increased by 23% YoY to ₹5741 Cr in Sep’23 from ₹4684 Cr in Sep’22 Fee based income grew by 11% YoY to ₹805 Cr in Sep’23 from ₹723 Cr in Sep’22 NIM (Domestic) increased to 3.52...