RBI directs banks to provide customers with options for multiple card networks
The directions do not apply to card issuers who issue credit cards on their own authorised card networks.
The directions do not apply to card issuers who issue credit cards on their own authorised card networks.
State Bank of India shares gained as much as 6.4% to hit a record high of ₹718.80 intraday today, while the m-cap surged to ₹6.36 lakh crore.
The PSU lender has risen over 12% in the last four sessions, touching its fresh 52-week high of ₹110.95 in intraday trade today.
LIC of India will become the largest shareholder in HDFC Bank after the acquisition of an additional 4.8% shares in the lender, raising its holding stake to 9.99%.
The Q3 profit grew multi-fold from ₹51 crore in the year ago period, aided by sharp decline in provisions, credit growth, and higher income.
Axis Bank’s Q3 profit of ₹6,071 crore was slightly short of the market expectations, while NII was mostly in line with projections.
Reacting to Q3 numbers, shares of Kotak Mahindra Bank rose as much as 3.6% to ₹1,829.50 crore, while m-cap increased to ₹3.6 lakh crore.
The bankex index dropped over 4%, with index heavyweights HDFC Bank, Kotak Mahindra Bank, Axis Bank falling between 3-8%.
While digital is a given, over-emphasis on cutting-edge tech can inadvertently stretch operational resilience thin
The BFSI environment is more competitive than ever, with challenges—and opportunities—posed by digitisation place talent center stage.