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CHENNAI: Indian Overseas Bank (IOB) on Thursday posted a 57.8% rise in net profit at Rs 1,226 crore in the quarter ended Sept 30, 2025, against Rs 777 crore in the corresponding quarter last year. It was driven by growth in interest income and lower provisions. With the reduction in repo rate impacting the yield on advances, the public sector lender has witnessed a decline in repo-linked portfolio, while the marginal cost of funds based lending rate (MCLR) has increased.The net interest income ( ...Read More >
New Delhi [India], July 4 (ANI): SpiceJet on Thursday acknowledged that some passengers are currently facing difficulties in reaching the airline's customer care helpline due to intermittent technical issues. The airline said efforts are underway to restore normal functioning as soon as possible. In an official message on X, SpiceJet stated, 'We are currently experiencing intermittent issues with our SpiceJet Customer Care helpline numbers. We assure you that our relevant teams are working to r ...Read More >
Mumbai: The average fresh loan spread of Indian banks increased by 17 basis points to 3.09% in May, indicating lenders' focus on protecting margins, according to data released by the Reserve Bank of India (RBI). Private sector banks led the increase, widening spreads-the difference between the average lending rate they charge on borrowers and their cost of funds-by 34 basis points to 3.86%, while public sector banks raised spreads by 6 basis points to 1.79%, RBI data showed. The data, experts ...Read More >
Mumbai: The average fresh loan spread of Indian banks increased by 17 basis points to 3.09% in May, indicating lenders' focus on protecting margins, according to data released by the Reserve Bank of India (RBI). Private sector banks led the increase, widening spreads-the difference between the average lending rate they charge on borrowers and their cost of funds-by 34 basis points to 3.86%, while public sector banks raised spreads by 6 basis points to 1.79%, RBI data showed. The data, experts ...Read More >
Nagpur: Warrior king Chhatrapati Shivaji Maharaj belonged to the entire country, but British history tried to confine him as a regional icon, said BJP leader and Rajya Sabha MP Sudhanshu Trivedi, who was in Nagpur on Friday to attend an event marking the 351st anniversary of Shivaji Maharaj's coronation. Trivedi told TOI at the event organized by Shivaji Maharaj Kruti Samiti that Shivaji Maharaj's contribution in 'safeguarding' the southern part of India from Mughal invasion must not be forgotte ...Read More >
MUMBAI: Borrowing costs at India's two most rate-sensitive sectors - property and automobiles - are set to head South soon after the central bank Friday made its steepest rate cut since March 2020 and promised ample liquidity in the shape of the lowest cash reserve ratio (CRR) on record. The Nifty Realty index surged nearly 5%, even dwarfing gains for financial stocks, reflecting the likely impact of the big-bang policy moves on home purchases. Home, personal, and car loans tied to external ben ...Read More >
Mumbai: The Reserve Bank of India's (RBI) Monetary Policy Committee on Friday cut the repo rate by 50 basis points (bps) to 5.50%. This is the third straight rate cut, leading to a cumulative reduction of 100 bps since the easing cycle began in February. As part of the monetary policy decision to support growth, the committee also reduced the cash reserve ratio (CRR) -- the amount of funds that banks need to park with RBI -by 100 bps. However, the rate-setting panel changed the policy stance fr ...Read More >
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