Federal Bank Becomes India's First Bank To List Payment Gateway On New Tax Platform
2 years, 4 months ago

Federal Bank Becomes India's First Bank To List Payment Gateway On New Tax Platform

News 18  

Federal Bank has become India’s first bank to list its Payment Gateway platform on the income tax department’s TIN 2.0 platform, which went live on July 1 this year. “With an increasing number of digital-first folks joining the workforce and scaling up of digital transactions across the ecosystem, we are sure that taxpayers will appreciate the convenience of tax payments brought forth by the Federal Bank by easing the process and providing multiple options.” Federal Bank in July partnered with the Central Board of Direct Taxes to assist taxpayers in making their payments through the e-pay tax facility in the e-filing portal of the income tax. The lender’s net profit in the June 2022 quarter jumped 63.5 per cent to Rs 601 crore, on a steep decline in money set aside for bad loans. Its core net interest income grew 13.1 per cent to Rs 1,605 crore during the reporting quarter on a 16 per cent advances growth and a 0.07 per cent expansion in the net interest margin to 3.22 per cent.

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History of this topic

Net direct tax collections rise 16.5%
6 days, 12 hours ago

Net direct tax collections rise 16.5%

The Hindu  

With a little over three months left in 2024-25, India’s net direct tax collections were up 16.5%, crossing ₹15.82 lakh crore by December 17, with non-corporate taxes leading the growth. Data shared by the Central Board of Direct Taxes on Wednesday showed that gross tax receipts had grown 20.3% so far this year to cross ₹19.21 lakh crore, with corporate …

India's Tax Filers Surge Fivefold, With 52% of Salaried Individuals Reporting Income Over Rs 1 Crore
2 months ago

India's Tax Filers Surge Fivefold, With 52% of Salaried Individuals Reporting Income Over Rs 1 Crore

ABP News  

India's tax filers have seen a significant surge in recent years, with the number of individuals reporting taxable incomes exceeding Rs 1 crore surging fivefold in the assessment year 2023-24. This growth has been driven by both an increase in the total number of taxpayers and an increase in the number of individuals with taxable incomes exceeding Rs 1 crore.

Axis Bank Q2 Results: A Strong Performance Despite Market Challenges
2 months, 1 week ago

Axis Bank Q2 Results: A Strong Performance Despite Market Challenges

Live Mint  

Axis Bank reports a strong Q2FY25 performance, with a 18% rise in standalone net profit to ₹6,917.57 crore. The bank's net interest income (NII) rose 10% YoY, while the net interest margin (NIM) shrunk by four per cent. Despite the decline in NIM, the bank's margin excluding the one-time tax gain remained broadly maintained. The bank's net loans grew by …

ICICI Bank Q1 net profit grows 14.6% to ₹11,059 crore
4 months, 3 weeks ago

ICICI Bank Q1 net profit grows 14.6% to ₹11,059 crore

The Hindu  

ICICI Bank Ltd. reported Q1 FY25 net profit grew 14.6% year-on-year to ₹11,059 crorebeating estimates led by treasury gains and other income. Net interest income of the private sector bank for June quarter rose 7.3% YoY to ₹19,553 crore, the bank said in a filing. “We are comfortable with the asset quality andour strategy is to grow in a risk …

Federal Bank Q1 net profit grows 18.25% to ₹1,010 crore
5 months ago

Federal Bank Q1 net profit grows 18.25% to ₹1,010 crore

The Hindu  

Federal Bank Ltd. reported Q1 FY25 net profit rose 18.3% year-on-year to ₹1,009.53 crore. Net advances rose to ₹2,20,806.41 crore, from ₹1,83,487.41 crore in the year-earlier period. Gross NPA at the end of Q1 FY25 was ₹4738.35 crore, which as a percentage to Gross Advances was 2.11%, while net NPA and as a percentage to net advances was ₹1330.44 crore …

Federal Bank logs record high net income at Rs 1,010 crore, to raise Rs 6,000 crore
5 months ago

Federal Bank logs record high net income at Rs 1,010 crore, to raise Rs 6,000 crore

New Indian Express  

MUMBAI: The Kochi-based old generation private sector lender Federal Bank has reported the highest-ever quarterly net income at Rs 1,010 crore for the June quarter, logging in an 18.25 percent annualised growth, boosted by all-round performance in terms of asset generation as well as maintaining asset quality. The lender, which is getting a new chief executive in Krishnan Venkat Subramanian …

India’s net direct tax collection rises 20.25% YoY to ₹15.60 lakh crore
10 months, 1 week ago

India’s net direct tax collection rises 20.25% YoY to ₹15.60 lakh crore

Live Mint  

Central Board of Direct Taxes, on Sunday, released a new report revealing that the country’s net direct tax collections have increased by 20.25 % to ₹15.60 lakh crore higher than the net collections for the corresponding period of last year. The gross direct tax collection soared to ₹18.38 lakh crore as of 10 February which is 17.30% higher than the …

Indian Bank Q3 standalone net rises 52% to ₹2,119 cr.
11 months ago

Indian Bank Q3 standalone net rises 52% to ₹2,119 cr.

The Hindu  

Indian Bank reported standalone net profit for the December quarter rose 52% from the year-earlier period to ₹2,119 crore due to growth in interest income. Net interest income increased 6% to ₹5,815 crore and fee based income by 21% to ₹852 crore. Gross advances of the bank increased by 13% ₹5,09,800 crore, while gross deposits rose 10% to ₹6,54,154 crore. …

PNB Q2 net profit jumps 327% to ₹1,756 crore; NII rises 20% YoY
1 year, 1 month ago

PNB Q2 net profit jumps 327% to ₹1,756 crore; NII rises 20% YoY

Live Mint  

PNB Q2 Results: Punjab National Bank, the state-run lender, reported a sharp jump of 327% in its net profit for the second quarter of FY24 led by lower provisions. PNB’s net profit in Q2FY24 surged to ₹1,756 crore from ₹411.3 crore in the same quarter last year. PNB’s net interest income during the July-September 2023 quarter rose 20% to ₹9,923 …

IndusInd Bank Q2 profit up 22% to ₹2,202 cr
1 year, 2 months ago

IndusInd Bank Q2 profit up 22% to ₹2,202 cr

Hindustan Times  

IndusInd Bank on Wednesday posted 22 per cent rise in consolidated net profit at ₹2,202 crore for September quarter 2023-24, aided by decline in bad loans and a rise in interest income. Total income increased to ₹13,530 crore during the quarter under review, as against ₹10,719 crore in the same period last year, IndusInd Bank said in a regulatory filing. …

Bandhan Bank Q2 profit jumps over 3-fold to ₹721 cr
1 year, 2 months ago

Bandhan Bank Q2 profit jumps over 3-fold to ₹721 cr

Hindustan Times  

Bandhan Bank on Wednesday reported over three- fold jump in net profit at ₹721 crore for the second quarter ended September 30, 2023. Bandhan Bank The Kolkata-headquartered private sector lender had posted a profit of ₹209.30 crore for the same quarter a year ago. On the asset quality front, the lender reported deterioration as gross non-performing assets rose to 7.32 …

Bandhan Bank Q2 net profit up 245% YoY to ₹721 crore
1 year, 2 months ago

Bandhan Bank Q2 net profit up 245% YoY to ₹721 crore

Live Mint  

Bandhan Bank for the quarter ending September'2023 saw its net profit rise 245% YoY to ₹721 crore compared to ₹209 Crore in the year ago quarter. Bandhan Bank's Net Interest Income improved to ₹2,443 crore in Q2 FY24 from ₹2,193 crore in Q2 FY23. Bandhan Bank Net NPA stood at around ₹2360 Crore at the end of Q2FY24 compared to …

Federal Bank Q2 results: Profit jumps 35.5% as provisions fall
1 year, 2 months ago

Federal Bank Q2 results: Profit jumps 35.5% as provisions fall

Live Mint  

Mumbai: Private sector lender Federal Bank on Monday reported a 35.5% year-on-year jump in net profit at ₹954 crore in the September quarter owing to lower provisions. “The environment continues to be reasonably encouraging.” Federal Bank’s asset quality improved as its gross bad loans as a percentage of gross advances stood at 2.26%, down from 2.38% in the June quarter …

SBI Research reveals formalisation of MSMEs under Modi govt
1 year, 4 months ago

SBI Research reveals formalisation of MSMEs under Modi govt

Op India  

The Modi government has helped in the formalisation of the country’s Micro, Small and Medium Enterprises, revealed a research report published by the State Bank of India on Tuesday. Udyam registration across States and change in ITR filings across States, chart via SBI Research/ RBI “…Around 22 million micro small and medium enterprises have registered on the Udyam portal …We …

BoB Q1FY24 results: Net profit jumps 87.7% YoY, NPA dips over 40%
1 year, 4 months ago

BoB Q1FY24 results: Net profit jumps 87.7% YoY, NPA dips over 40%

Live Mint  

Bank of Baroda Q1 results 2023-24: State-owned bank, Bank of Baroda has declared its Q1FY24 results today. Sharing its first quarter results for the current financial year, the PSU bank reported 87.72 per cent YoY jump in net profit during April to June 2023 quarter. Bank of Baroda Q1FY24 net profit In Q1FY24, the PSU bank reported a net profit …

Fino Payments Bank Q4 profit up 25% at ₹22 crore
1 year, 7 months ago

Fino Payments Bank Q4 profit up 25% at ₹22 crore

Live Mint  

Mumbai: Fino Payments Bank has reported a net profit of ₹22.1 crore in the three months through March, up 25.4% from a year ago. Net revenue grew 18.2% year-on-year to ₹105.8 crore in the March quarter of FY23 and its earnings before interest, taxes, depreciation, and amortization rose 46.3% y-o-y to ₹43 crore. The bank said its total deposits increased …

Kerala-based CSB Bank posts 20% rise in Q4 net profit to Rs 156 crore
1 year, 7 months ago

Kerala-based CSB Bank posts 20% rise in Q4 net profit to Rs 156 crore

Business Standard  

Kerala-based private sector lender CSB Bank has posted a 20 per cent rise in net profit during the fourth quarter of 2022-23 to Rs 156 crore, as compared to Rs 131 crore during the same period the previous financial year, owing to rise in income and dip in bad loans. Its net interest income also increased by 15 per cent …

Yes Bank Q4FY23 results: Net profit dips 45% despite 25% rise in total income
1 year, 8 months ago

Yes Bank Q4FY23 results: Net profit dips 45% despite 25% rise in total income

Live Mint  

Yes Bank has announced its Q4FY23 results on Saturday reporting dip in net profit from 367.46 crore to ₹202.43 crore in Q4FY23, logging near 45 per cent decline in year-on-year basis. However, on quarter-to-quarter basis, Yes Bank reported around 293 per cent rise against Q3FY23 net profit of ₹51.52 crore. In FY23, Yes Bank posted 19.46 per cent rise in …

These banks are not on NSDL portal anymore for tax payments; details here
2 years, 1 month ago

These banks are not on NSDL portal anymore for tax payments; details here

Firstpost  

Customers should have been made aware of this modification by banks via email or SMS. People who are paying their taxes with certain banks are now recommended to go to e-Pay Tax on the new income tax portal to make direct tax payments Customers can now pay their income taxes through a newly-launched online portal, the e-Pay Tax window. Customers …

Yes Bank Q1FY23 results: Net profit jumps 50%, total income rises 9.67%
2 years, 5 months ago

Yes Bank Q1FY23 results: Net profit jumps 50%, total income rises 9.67%

Live Mint  

Yes Bank Q1FY23 results: Yes Bank today announced its results of the first quarter for the financial year 2022-23. The private lender also reported a YoY jump of 9.67 per cent in total income whereas its income from interest has shot up 13.47 per cent in the said period. Net interest income of Yes Bank in Q1FY23 stands at ₹1,850 …

HDFC Bank Q1 results: Net profit jumps 19% to ₹9,196 crore; NII rises 14.5%
2 years, 5 months ago

HDFC Bank Q1 results: Net profit jumps 19% to ₹9,196 crore; NII rises 14.5%

Live Mint  

HDFC Bank Q1 FY23 Results: HDFC Bank, the country's largest private lender, on Saturday reported a 19% year-on-year rise in its net profit for the April-June quarter at ₹9,196 crore after providing ₹2,984.1 crore for taxation. HDFC Bank had posted a net profit of ₹7,729.64 crore in the year-ago period. Net interest income for the June quarter grew by 14.5% …

IDFC First Bank net profit jumps over two-fold to Rs 343 crore in March quarter
2 years, 7 months ago

IDFC First Bank net profit jumps over two-fold to Rs 343 crore in March quarter

Firstpost  

New Delhi: IDFC First Bank on Saturday posted over two-fold rise in net profit to Rs 343 crore in the March 2022 quarter on the back of strong core operating income and lower provisioning for bad loans. “The net profit for Q4-FY22 grew by 168 per cent to Rs 343 crore from Rs 128 crore in Q4 FY21, driven by …

Bandhan Bank Q2 Net Profit Falls By 5.3% To Rs 920 Crore
4 years, 1 month ago

Bandhan Bank Q2 Net Profit Falls By 5.3% To Rs 920 Crore

ABP News  

Private lender, Bandhan Bank on Monday, reported a 5.3% fall in its second-quarter net profit to Rs 920 crore compared to a net profit of Rs 971.8 crore in the year-ago period as the lender has taken accelerated additional provision on standard assets amounting to Rs 300.0 crore for COVID-19. On a sequential basis, net profit for the quarter increased …

State-owned Indian Bank Q2 Net Profit Rises 15% to Rs 412 Crore
4 years, 2 months ago

State-owned Indian Bank Q2 Net Profit Rises 15% to Rs 412 Crore

News 18  

State-owned Indian Bank on Thursday reported a 15 per cent rise in net profit at Rs 412.28 crore for the second quarter ended September, despite increase in provisions for bad loans. Indian Bank’s total income rose to Rs 11,669.11 crore during September quarter this year from Rs 6,045.32 crore in the same period of the previous fiscal, it said in …

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