Reserve Bank of India – Press Releases
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Ajit Prasad Press Release: 2021-2022/1137 |
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Reserve Bank of India – Press Releases
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Ajit Prasad Press Release: 2021-2022/1136 |
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Bank of India Sep Q2 profit soars nearly 100% to ₹1,051 cr
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State-run Bank of India on Tuesday reported nearly 100 per cent jump in its net profit at ₹1,051 crore in quarter ended September 2021.
The bank had posted net profit of ₹526 crore in the same period a year ago.
“Net profit for Q2FY22 stood at ₹1,051 crore, up by 99.89 per cent year-on-year,” the bank said in a regulatory filing.
On a sequential basis, net profit improved by 45.97 per cent from ₹720 crore.
Net interest income (NII) stood at ₹3,523 crore for the quarter Q2FY22. On a sequential basis, it increased by 12.06 per cent from ₹3,144 crore in quarter ended June 2021, the bank said.
Non-interest income increased by 58.71 per cent from a year ago to ₹2,136 crore for Q2FY22 against ₹1,346 crore in Q2FY21.
On the asset front, the bank improved the quality as the gross non-performing assets (NPAs) were down at 12 per cent of the gross advances at end of September 2021 from 13.79 per cent by end of same month a year ago.
Net NPAs too fell to 2.79 per cent from 2.89 per cent.
Bank of India stock traded at ₹62.25 apiece on BSE, up 3.06 per cent from the previous close.
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White Oak Capital completes acquisition of YES Bank’s MF business, BFSI News, ET BFSI
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NEW DELHI: Clearing the way for entering the mutual fund industry, White Oak Capital on Tuesday said it has completed the acquisition of YES Asset Management, which was previously owned by YES Bank.
The company, founded by renowned money manager Prashant Khemka, had received Sebi’s nod for registration of GPL Finance as a sponsor and change in control of YES Asset Management and YES Trustee Limited to GPL Finance back in September.
“We welcome the YES Asset Management team and their investors as well as channel partners into the White Oak family. Together with them, we are excited to further build upon the foundation laid by all of us till date,” said Khemka.
We are excited about offering our investment expertise to retail investors across the country and we aim to launch a range of funds post necessary regulatory approvals and subsequent launch through the first half of CY2022, he added.
Prashant Kumar, Managing Director & CEO, YES Bank, said, the move, aligned with the bank’s sustained efforts to enhance value creation for all our stakeholders, will lead to significant gains for both companies and, more importantly, our customers.
“With this transaction, the bank remains committed to re-channelizing resources as part of our overall strategy to drive growth and innovation in our offerings.”
YES Securities acted as an exclusive advisor to the transaction. Samvad Partners acted as legal advisor to YES BANK, while Khaitan & Co, IC Universal Legal and Regstreet Law Advisors were legal advisors to White Oak Capital on the transaction.
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Net profit soars nearly 100% to Rs 1,051 cr, BFSI News, ET BFSI
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New Delhi: State-run Bank of India on Tuesday reported nearly 100 per cent jump in its net profit at Rs 1,051 crore in quarter ended September 2021. The bank had posted net profit of Rs 526 crore in the same period a year ago.
“Net profit for Q2FY22 stood at Rs 1,051 crore, up by 99.89 per cent year-on-year,” the bank said in a regulatory filing.
On a sequential basis, net profit improved by 45.97 per cent from Rs 720 crore.
Net interest income (NII) stood at Rs 3,523 crore for the quarter Q2FY22. On a sequential basis, it increased by 12.06 per cent from Rs 3,144 crore in quarter ended June 2021, the bank said.
Non-interest income increased by 58.71 per cent from a year ago to Rs 2,136 crore for Q2FY22 against Rs 1,346 crore in Q2FY21.
On the asset front, the bank improved the quality as the gross non-performing assets (NPAs) were down at 12 per cent of the gross advances at end of September 2021 from 13.79 per cent by end of same month a year ago.
Net NPAs too fell to 2.79 per cent from 2.89 per cent.
Bank of India stock traded at Rs 62.25 apiece on BSE, up 3.06 per cent from the previous close.
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Reserve Bank of India – Tenders
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E-tenders were invited for Design, Supply, Installation, Testing and commissioning of UVGI System for Air Handling Units (AHUs) at Main Office Building, RBI, Hyderabad after publishing the NIT in Newspaper and on the Bank’s website. As per the schedule, pre-bid meeting was conducted on October 26, 2021 at 11:30 AM in Meeting room, 1st floor, MOB, Hyderabad. The list of participants is furnished in Annex. 2. Representatives of ABS Fujitsu General Private Limited attended the meeting. Various points/issues were discussed from both the sides. Some of the main points discussed during the meeting are as under:
3. Representatives of the firm were advised to follow all the instructions provided in the tender document and adhere to the prequalification criteria mentioned therein. 4. The prospecting bidders were informed that the work to be carried out, preferably during the working hours i.e. 10.00 AM to 6.00 PM on working days i.e., Monday to Friday. Decision of working on holidays and late evenings will be taken as per the convenience of the Bank. 5. This document (minutes of the Pre-Bid Meeting) shall also form a part of the tender. 6. All the above points were noted and agreed by the firm. All the doubts raised by the prospective bidders were clarified to their satisfaction. 7. The bidders also desired to visit AHUs and the same were facilitated by JE(Electrical) to enable them to have fair idea about the work to be done. 8. AGM (Tech-Electrical) ended the meeting with vote of thanks.
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SBI launches pre-approved two-wheeler loan scheme ‘SBI Easy Ride’
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State Bank of India (SBI) has launched a pre-approved two-wheeler loan scheme ‘SBI Easy Ride’ through its digital banking platform YONO.
Eligible SBI customers can avail of two-wheeler loans, up to 85 per cent of on-road price subject to eligibility, through the YONO app without visiting the bank branch.
Customers can apply for the Easy Ride loan for an amount up to ₹3 lakh at an interest rate of 10.5 per cent per annum onwards for a maximum tenure of four years, the Bank said in a statement. The minimum loan amount has been fixed at ₹20,000.
Also read: SBI launches video call life certificate submission facility for pensioners
The Bank emphasised that the EMI is as low as ₹2,560 per lakh. The loan availed will be disbursed directly into the dealer’s account.
SBI Chairman Dinesh Kumar Khara said this digital loan offering will position the Bank at the initial stage of a customer’s life cycle by offering a two-wheeler loan and thereafter upgrade the relationship along with their growth.
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SBI launches pre-approved 2-wheeler loan ‘SBI Easy Ride’ on YONO, BFSI News, ET BFSI
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State Bank of India has announced the launch of a pre-approved 2-wheeler loan scheme ‘SBI Easy Ride’ on its mobile banking app YONO. Eligible customers can apply for the loan through the app for an amount up to Rs. 3 lakhs, at a competitive interest rate of 10.5% per annum onwards, for a maximum tenure of four years.
“We believe this digital loan offering would help customers in buying their chosen two-wheeler. The product will also position the bank at the initial stage of a customer’s life cycle by offering a two-wheeler loan, and thereafter upgrade the relationship along with their growth,” chairman Dinesh Khara said.
The minimum loan amount has been fixed at Rs 20,000. The loan availed will be disbursed directly into the dealer’s account, and loans of up to 85% of the on-road price of the vehicle can be availed under this scheme.
Since its launch in 2017, YONO has more than 42 million registered users, and the bank has partnered with over 110 e-commerce players in more than 20 categories.
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Bank of Baroda signs MoU with NCDEX e-Markets
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Bank of Baroda has signed a Memorandum of Understanding (MoU) with NCDEX e Markets Ltd (NEML) to become a “clearing bank” for handling financial transactions in the NeML market place and procurement/auction platform.
NEML, a wholly-owned subsidiary of agricultural commodity exchange, NCDEX, is an online commodities spot market and services company.
Jagdish Tungaria, Zonal Head, Mumbai, BoB, said: “This tie-up opens up multiple opportunities for both institutions. The bank will partner with agriculture marketing federations and other procurement agencies across the country and increase its presence in agri e-commerce through its wide network across the country.
Mrugank Paranjape, MD and CEO, NEML, said this tie-up will help NeML members across the country to further their agriculture businesses.
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Reserve Bank of India – Press Releases
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Ajit Prasad Press Release: 2021-2022/1135 |
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