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The bank is doing extremely well. Fundamentally, it is a strong bank. For the past two years, the performance has been consistent, and the outlook is stable. Earlier we (had) talked about how to double the business in 5-6 years and how to maintain margin in a dynamic market scenario. The performance has been very satisfying, says Debadatta Chand. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/DAgykoT via IFTTT

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Yes Bank has received a demand notice of Rs 2,209 crore for the assessment year 2019-20 from the income-tax department. The reassessment, done by the National Faceless Assessment Unit, made no additional disallowances. Despite this, a demand of Rs 2,209.17 crore, including interest, has been raised. Yes Bank plans to appeal and rectify this order. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/73Li84u via IFTTT

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IndusInd Bank hired Grant Thornton Bharat to conduct a forensic check on its derivatives operations after disclosing a potential ₹1,600 crore marked-to-market loss due to internal trades. The Reserve Bank of India directed the bank to appoint a new auditor, and the investigation will scrutinize the lapses, accountability, and financial implications within the bank. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/lTbRwWF via IFTTT

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IndusInd Bank has announced that it will hire an independent professional firm to conduct a thorough investigation into discrepancies related to its derivative accounts. The investigation aims to identify the root cause, evaluate the accounting treatment, ensure compliance with accounting standards, and establish accountability. The outcome will help the bank address any resulting issues. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/PJ2k3HE via IFTTT

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State-run banks are planning to establish a common video KYC hub to integrate their processes with the central KYC registry (CKYCR) to enhance convenience and efficiency. This move is expected to streamline customer onboarding, reduce verification time, and prevent frauds with real-time updates and integration with DigiLocker. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/D9Of1d3 via IFTTT

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The court, in its order, said the investigating officer had not mentioned the settlement with Piramal Capital in a supplementary charge sheet filed with it. "He has not done it deliberately for reasons best known to him," it observed. The loan has now been settled and whether Yes Bank is at loss or not is between Yes Bank and Piramal Capital, the order said. The accused had not taken loans from Yes Bank directly, the court observed. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/e9IlSBN via IFTTT

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The collapse of ATM service provider AGS Transact is causing widespread disruptions, affecting major banks like SBI, ICICI Bank, and Axis Bank. SBI is the most impacted with 14,000 unserviceable ATMs, while ICICI Bank and Axis Bank are migrating their ATMs to other service providers to mitigate the issues. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/cQLSZ46 via IFTTT

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Indian banks are unlikely to resume significant lending to non-bank lenders and microlenders immediately, despite recent regulatory relaxations by the Reserve Bank. Asset quality is a major concern, with non-performing assets in the microfinance sector reaching an all-time high of ₹50,000 crore as of December last year. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/mZ5Ldkx via IFTTT

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