India

Experts said NPA’s may grow more behind rising interest rates and demand slowing in pace with the economy.

The Jammu and Kashmir Bank posted a net profit of Rs.182 crore of Rs.1,820 million for the first quarter of this fiscal ending June 30.

 IDBI Bank reported a net profit of Rs.3,351 million for the quarter ended June 30, 201. 

City Union Bank will be setting up more branches and ATMs this fiscal.

Indian Bank will raise a loan of up to $500 million for its overseas operations.

Punjab National Bank posted a net profit of Rs.1,105 crore for the quarter ended June 30.

UCO Bank reported a net profit of Rs.292 cror for April to June, representing a 12.42 % year-on-year growth, according to Yahoo News.

Rising demand for recently released Infinia card prompted the lender to come out with variants.

CIMB Group has entered into the Indian market with the opening of its Mumbai office.

Dip in bad loans and surge in interest income ushered the profit increase.

The lender minimises exposure to various projects and diversify risks.

The lender to acquire 30% of MetLife India Insurance to diversify its business.

The public sector bank eyes using Reg S bond in its first offshore bond offering.

While Indian BPOs have made some progress in tapping into lending operations, not much headway has been made in non-lending operations. Indian BPOs have also tended to stay away from voice-based work, which further limits revenues. Hari Rajagopalachari, ED for consulting at PricewaterhouseCoopers India, said that business processes have data and voice content, and regulatory constraints in offshoring data work are stringent. Also, a lot of banks have transaction banking and global trade processing as core service offerings handled out of their own offshore captives and do not see these as being candidates for outsourced offshoring. Deepak Patel, CEO of Aditya Birla Minacs, said that the amount of low hanging fruit is much lesser in the banking space as compared to the insurance sector for example, which involves huge volumes of transaction processing. In the insurance space, traditional BPOs have about 40% of the $9-12 billion market. Sameer Dhanranjani, country head, Fidelity National Financial, said that the employee skillsets for the BPO sector in a specialized domain like banking is still found wanting. Most BPOs are located outside of Mumbai where India's financial expertise lies. Indian BPOs have also not built technological solutions or platforms for the banking sector, he added. Though the banking sector has been slow to outsource its BPO work, BPOs are not ignoring the opportunities it presents. EXL recently closed a third party deal with a captive of a US-based bank; it declined to name the bank. Some companies like Genpact are aggressively looking for acquisitions in the banking space, others are organically building domain capabilities through hiring domain experts or building tools over existing solutions.

The lender seeks to get funds from Reg S bond, allowing it to be offered to overseas investors.

Infinia aimed to be issued to the by-invitation only to 5000 individuals that comes without spending limits.