Bank • NBFC • FinTech | The BNF Arena

MAS Financial Services Limited Reports PAT of more than Rs 250 Crores for the FY 2023-24, While the Consolidated AUM Crosses Rs 10,700 Crores https://bfsi.economictimes.indiatimes.com/news/financial-services/mas-financial-services-limited-reports-pat-of-more-than-rs-250-crores-for-the-fy-2023-24-while-the-consolidated-aum-crosses-rs-10700-crores/109578187 Ahmedabad (Gujarat) [India], The Board of Directors of MAS Financial Services Limited (MAS Financial) (BSE: 540749, NSE: MASFIN), specialized in MSME financing, announced today the audited financial results for the quarter ended 31st March 2024.

Mahindra Finance detects about Rs 150 cr fraud in loan portfolio, defers FY24 financial results till May 30 https://bfsi.economictimes.indiatimes.com/news/financial-services/mahindra-finance-detects-about-rs-150-cr-fraud-in-loan-portfolio-defers-fy24-financial-results-till-may-30/109578159 In a regulatory filing, the company said a the board meeting to consider financial statements, results and dividend for the period ended March 2024 is re-scheduled and will be held on May 30, 2024.

Asset management JV with BlackRock progressing well, says Jio Financial Services https://bfsi.economictimes.indiatimes.com/news/financial-services/asset-management-jv-with-blackrock-progressing-well-says-jio-financial-services/109578059 On October 19, 2023, Jio Financial and BlackRock Financial Management Inc. filed papers with markets regulator Sebi for launching a mutual fund business. As of March 2024, the application was under process for Sebi's in-principle approval.

Financial services platform Northern Arc secures $80 mn funding from IFC https://bfsi.economictimes.indiatimes.com/news/financial-services/financial-services-platform-northern-arc-secures-80-mn-funding-from-ifc/109578024 Financial services platform Northern Arc on Wednesday said that it secured $80 million in funding from the International Finance Corporation (IFC), a member of the World Bank Group.

FSIB Recommends Rana Ashutosh for State Bank’s MD Post https://bfsi.economictimes.indiatimes.com/news/banking/fsib-recommends-rana-ashutosh-for-state-banks-md-post/109577946 Rana Ashutosh Kumar Singh recommended by FSIB for SBI MD post, pending Appointments Committee of the Cabinet approval under PM Modi's leadership. FSIB, led by Bhanu Pratap Sharma, conducted the selection process. Singh currently serves as SBI's deputy MD.

RBI action halts Kotak Bank's digital-only zero-balance saving accounts expansion https://bfsi.economictimes.indiatimes.com/news/banking/rbi-action-halts-kotak-banks-digital-only-zero-balance-saving-accounts-expansion/109577548 Kotak Mahindra Bank with its 811 saving accounts had pioneered zero balance savings accounts that were digital only, but the Reserve Bank of India action has halted its plans to add customers through the route.

Federal Reserve Board announces it will extend through May 31, 2024, the public comment period for the application by Capital One Financial Corporation to acquire Discover Financial Services https://www.federalreserve.gov/newsevents/pressreleases/bcreg20240424a.htm Federal Reserve Board announces it will extend through May 31, 2024, the public comment period for the application by Capital One Financial Corporation to acquire Discover Financial Services

Kotak Mahindra Bank assures to resolve issues and provide uninterrupted services https://bfsi.economictimes.indiatimes.com/news/banking/kotak-mahindra-bank-assures-to-resolve-issues-and-provide-uninterrupted-services/109570598 The Bank has taken measures for adoption of new technologies to strengthen its IT systems and will continue to work with RBI to swiftly resolve balance issues at the earliest, it said.

Durov's Channel (@durov) - Telegram 💡 In February 2022, I suggested to restrict Telegram channels in Russia and Ukraine, because they... 💡 In February 2022, I suggested to restrict Telegram channels in Russia and Ukraine, because they were being used for military propaganda. However, both our Ukrainian and Russian users vehemently opposed restrictions, prioritizing the freedom to access information, even when it’s biased. I supported our users’ choice 🫡 🚫 We still ban accounts and bots that collect coordinates to target strikes or post direct personal information with calls to violence. We don’t want Telegram to be a tool for violence — so please report such channels/bots to us if you see them ⛔️ ✉️ As for general news/propaganda channels, we receive official letters from Apple that indicate that certain changes here may be unavoidable, at least for users accessing Telegram on iPhones from Ukrainian SIM cards. As I explained in my interview, to stay accessible to its users, Telegram must consider requests coming from App Stores 🍎 🗽Were it entirely up to us, we would always give our users what they ask for: access to uncensored information and opinions so that they can make their own decisions. However, it's not always up to us 🥲

No writebacks post RBI provision on AIF exposure, bank to raise funds soon: Amitabh Chaudhary https://bfsi.economictimes.indiatimes.com/news/banking/no-writebacks-post-rbi-provision-on-aif-exposure-bank-to-raise-funds-soon-amitabh-chaudhary/109567744 Recovering significantly from a net loss of Rs 5728 crore in the March quarter previous year, Axis Bank reported a standalone net profit of Rs 7129.67 crore. The bank's head Amitabh Chaudhary highlighted how the bank witnessed a strong growth in digital banking, improvement in deposits and Net NPAs.