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FINANCE

BUSINESS / FINANCE / INFORMATION TECH

Nucleus Software Q4 FY 2019 revenue up by 14%, net profit after tax reports slight dip

2019-04-242019-04-24 - by Soumya Thomas - Leave a Comment

Banking services and solutions provider Nucleus Software reported a consolidated revenue of Rs 127 crore in the fourth quarter of FY 2019, compared to the Rs 111 crore it generated …

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BUSINESS / FINANCE

DCB Bank reports improvement in Q4 results

2019-04-182019-04-18 - by Soumya Thomas - Leave a Comment

Privately owned DCB Bank reported significant improvement in its financial performance for the final quarter of FY 2019. The bank’s improved performance comes at a time when the banking sector …

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BUSINESS / FINANCE

CCI approves Bandhan Bank merger with GRUH Finance

2019-04-162019-04-16 - by Soumya Thomas - Leave a Comment

Regulatory body Competition Commission of India (CCI) approved the merger of Kolkata-based Bandhan Bank with affordable housing finance company GRUH Finance. On January 7, 2019, board of directors of both …

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BUSINESS / FINANCE / INFORMATION TECH

TCS Deploys Core Banking Software At ChinaTrust Commercial Bank In Taiwan

2019-04-052019-04-05 - by Soumya Thomas - Leave a Comment

IT firm Tata Consultancy Services (TCS) said that it has deployed its core banking product TCS BaNCS at ChinaTrust Commercial Bank (CTBC) in Taiwan. BaNCS is TCS’ main product for …

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BUSINESS / FINANCE / INFORMATION TECH

TCS deploys Core Banking Software at National Bank of Bahrain

2019-04-042019-04-04 - by Soumya Thomas - Leave a Comment

IT firm Tata Consultancy Services (TCS) said that it has deployed core banking software TCS BaNCS at National Bank of Bahrain (NBB). BaNCS is TCS’ main product for banks, and …

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BUSINESS / FINANCE

Karnataka Bank to distribute Bharti Axa products

2019-04-022019-04-02 - by Soumya Thomas - Leave a Comment

Mangalore-headquartered Karnataka Bank on Tuesday said it has agreed to distribute insurance products from Bharti Axa General Insurance Ltd. The private sector bank will provide a wide range of life …

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BUSINESS / FINANCE

IndoStar buys CV finance business of IIFL

2019-04-022019-04-02 - by Soumya Thomas - Leave a Comment

IndoStar Capital Finance Ltd, a lender promoted by private equity fund Everstone Group, announced the completion of its acquisition of the commercial vehicle finance business of India Infoline Finance, a …

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APPS / CONSUMER / FINANCE / FIRST ON ULTRA / INFORMATION TECH / INTERNET / MOBILE PHONES

Xiaomi launches Mi Pay wallet in India with ICICI Bank

2019-03-192019-03-19 - by Trisha Thomas - Leave a Comment

India’s largest smartphone maker Xiaomi has launched Mi Pay, its payment service, in India, marking the first time the service has been expanded beyond its home market of China. The …

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APPS / BUSINESS / FINANCE

ICICI Lombard, MobiKwik join hands to provide cyber-insurance cover

2019-03-182019-03-18 - by Soumya Thomas - Leave a Comment

ICICI Lombard, one of India’s leading private sector general insurance companies, said it has entered into a strategic partnership with one of India’s largest retail payment platform MobiKwik to provide …

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CONSUMER / FINANCE / FIRST ON ULTRA

SBI starts ‘doorstep banking’ for senior citizens

2019-03-122019-03-12 - by Soumya Thomas - Leave a Comment

India’s largest commercial bank, State Bank of India (SBI), launched ‘doorstep banking’ for senior citizens, the differently-abled and infirm customers, including those with visual-impairment. Under this facility, doorstep services will …

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BUSINESS / FINANCE / FIRST ON ULTRA

Paytm to set up 1,000 branded ATMs?

2019-03-062019-03-06 - by Soumya Thomas - Leave a Comment

Paytm, India’s largest digital wallet player, is reportedly planning to set up 1,000 ATMs across the country under a branding tie-up with Tata Communications Payment Solutions Ltd. Although Tata Communications …

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BUSINESS / FINANCE / FIRST ON ULTRA

SWIFT: RBI slaps Rs 1 cr fine on ICICI Bank

2019-03-052019-03-05 - by Soumya Thomas - Leave a Comment

Days after it imposed a monetary penalty of Rs 7 crore on four PSU banks, the Reserve Bank of India has slapped a fine of Rs 1 crore on ICICI …

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BUSINESS / FINANCE / FIRST ON ULTRA / INFORMATION TECH

With Hitachi, SBI hopes to beat back competition from PayTM, PhonePe

2019-03-052019-03-05 - by Trisha Thomas - Leave a Comment

State Bank of India and Hitachi Payment Services announced the start of operations of their payment processing venture in India as India’s largest bank tries to stay on top of …

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BUSINESS / FINANCE

SWIFT IMPLEMENTATION: Karnataka Bank gets Rs 4 cr fine from RBI

2019-03-042019-03-04 - by Soumya Thomas - Leave a Comment

A day after it imposed monetary penalty of Rs 7 crore on four PSU banks, the Reserve Bank on Monday slapped a fine of Rs 4 crore on Mangaluru-headquartered Karnataka …

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BUSINESS / FINANCE

Demo Man Hasmukh Adhia appointed Bank of Baroda chairman

2019-03-022019-03-02 - by Soumya Thomas - Leave a Comment

Former Finance Secretary Dr. Hasmukh Adhia, credited with the effective implementation of demonetization two years ago, was on Friday appointed as the Non-Executive chairman of the Bank of Baroda for …

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BUSINESS / FINANCE / FIRST ON ULTRA

RBI fines UCO Bank over fraud reporting

2019-02-052019-02-05 - by Sreejiraj Eluvangal - Leave a Comment

The Reserve Bank of India has fined the UCO Bank for discrepancies in complying with the central bank’s norms on classifying and reporting frauds and on collection of account payee …

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APPS / BUSINESS / FINANCE / FIRST ON ULTRA

Flipkart’s PhonePe eyes PayTM as it readies to sign up half a crore merchants in 2019

2019-01-212019-01-21 - by Sreejiraj Eluvangal

PhonePe, the payment app backed by Flipkart, announced that it has crossed the 1 mln merchants milestone and plans to add another five million this year. This is likely to …

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BUSINESS / FINANCE / FIRST ON ULTRA

Morgan Stanley calls dollar top, predicts end of Fed balance-sheet normalization

2019-01-152019-01-15 - by Sreejiraj Eluvangal

Morgan Stanley Research, part of the MS financial services group, said the US currency has likely peaked already and that the US Federal Reserve is likely to follow a more …

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BUSINESS / FINANCE / FIRST ON ULTRA

Edelweiss’ NBFC arm to raise up to Rs 1,000 cr via debentures

2018-12-062018-12-06 - by Trisha Thomas

ECL Finance Ltd, the NBFC arm of Edelweiss Group, said it plans to raise up to Rs 1,000 cr in the form of non-convertible debentures, a form of debt. The …

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BUSINESS / FINANCE / FIRST ON ULTRA / INFORMATION TECH

TCS acquires US-based management consultant Bridgepoint Group

2018-11-282018-11-28 - by Trisha Thomas

Tata Consultancy Services said it has acquired the business of BridgePoint Group, LLC, a U.S. management consulting firm that caters to the financial services industry and specializes in retirement services, …

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