In a victory to Reserve Bank of India (RBI), a division bench of the Madras High Court has set aside a single judge order that ordered restoration of Certificate of Registration (CoR) of non-banking financial companies (NBFC) cancelled by the central bank for non-compliance of the enhanced net...
Payment volumes on the Unified Payments Interface (UPI) fell on a month-on-month (m-o-m) basis in April, according to data released by the National Payments Corporation of India (NPCI) on Wednesday. The number of UPI transactions dropped a little over 2% month-on-month (m-o-m) to 781.79 million in April from...
Even as the entire financial services sector continues to remain under pressure due to a brewing liquidity squeeze, veteran banker Uday Kotak called for a very strong policy in a bid to guide the sector to safer waters. Describing the current time as challenging, Kotak said that the...
Kotak Mahindra Bank on Tuesday reported a 25% year-on-year (y-o-y) rise in its standalone net profit at `1,407 crore in Q4FY19 on account of a higher net interest income (NII) and a fall in its provisions. The bank reported a net profit of `1,290 crore in Q4FY18.The private-sector...