Diabytes
Federal Bank News
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Federal Bank now offers biometric authentication for online card payments, allowing users to pay using fingerprint or face ID—no OTP needed. Available for its debit and credit card holders on select apps, the feature ensures faster and safer checkouts.
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With SmilePay you can complete transactions without the need to carry cash, cards or a mobile device.
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According to the bank, the special rates are valid for 400 days and the highest rate provided is 8.15 percent.
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Lenders have increased their interest rates on FDs to woo investors and depositors. Recently, RBI kept the repo rate unchanged, encouraging banks to hike interest rates. The following banks are now offering hike interest rates for senior citizens.
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SBI has revised the MCLR for the benchmark one-year tenor to 7.95 per cent, up by 25 basis points from previous rate.
The one-year tenor MCLR is the rate against which most of the consumer loans are tied to.
Kotak Mahindra Bank said the MCLR for various tenors has been set in the range of 7.70-8.95 per cent with effect from October 16, 2022.
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Country's largest lender State Bank of India (SBI) has revised the MCLR for the benchmark one-year tenor to 7.95 per cent, up by 25 basis points from previous rate. SBI said the new MCLR is effective from October 15, 2022.
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KCC scheme is to give loans to marginalised farmers.
RBI started a pilot project to make the KCC process online.
The project is started in selected cities of the country now.
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Federal Bank clarified Federal-Kotak merger is 'speculative' in SEBI filing.
Federal bank stock hit high on Monday to reach at Rs 129.75.
Federal Bank was founded in 1931 and now has more than 1,250 locations around the nation.
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The IPO comprises a fresh issue of equity shares.
The private sector bank said the offer includes a reservation for subscription by eligible employees of Federal Bank and FedFina and the bank's shareholders.
The offer is subject to receipt of requisite approvals, market conditions and other considerations.
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The OFS comprises up to 16,497,973 equity shares by Federal Bank and up to 29,216,313 equity shares by True North Fund VI LLP.
Federal Bank will continue to own more than 51 per cent of the outstanding share capital post the completion of this offering.
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The investor had increased his stake in the lender by about 0.40 per cent.
Since then, brokerage firms and experts have maintained their ‘buy’ call on Federal Bank.
The stock is currently trading in the range of about Rs 70 to Rs 95 for the last six months.
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Muhurat Trading 2021 will begin today at 6:15 pm.
BPCL could provide a 36% return in one year.
The brokerage firm has set a target of Rs 490-540 on the stock.
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The big bull is a marquee share market investor who has made his fortune by investing in several stocks.
One such stock in his stock, Federal Bank, has rallied over 115% in the past 13 months.
The share jumped 9% after posting a strong earnings result for the second quarter of the ongoing financial quarter.
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He has increased his stake in Federal Bank during the July to September 2021 quarter.
Jhunjhunwala and his wife Rekha Jhunjhunwala have together purchased a 1.01 per cent additional stake in the Kochi-headquartered private lender.
Jhunjhunwala currently owns 5,47,21,060 shares or a 2.64 per cent stake in the Federal Bank.
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For instance, the Celesta card will be more suited for high net-worth individuals (HNIs).
The Imperio card is targeted at family-oriented customers.
The Signet will be aimed at young professionals.
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The BSE bank index fell by 1.66 percent to end at 27,885.86.
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The boards of both the companies have passed resolutions to hike the limit of foreign investment to up to 74 percent, RBI said.
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Unique Identification Authority of India (UIDAI) former chairman Nandan Nilekani today said with new digital payment systems like BHIM and UPI in place, around 15-20 per cent of the country's personal consumption expenditure will become digital in next one year from the current level of 5 per cent.
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Federal Reserve Chair Janet Yellen said Thursday an interest rate increase likely will be appropriate "relatively soon" as long as there is further evidence of progress in the economy.
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