“Transmission during the MCLR regime was far from satisfactory,” said RBI’s research paper, necessitating the introduction of external benchmark-based pricing of loans for the personal loans and micro & small enterprises, effective October 1, 2019, and for medium enterprises from April 1, 2020.

In the first quarter ended in June of the current fiscal year, the lender registered a decline of 22 per cent in net profit at Rs 561 crore as against Rs 720 crore in the year-ago quarter.

Nirmala Sitharaman said that while the earlier government also ran schemes, this government is working to empower the people and not just giving something as an entitlement. The government has thrown away the heavy legacy problems of the previous government by clearing the burdens on public sector banks, she said.

Jain, who was Global Indian of the Year in the ET Awards for Corporate Excellence in 2012, was born in Jaipur in 1963 and studied at the Shri Ram College of Commerce, New Delhi, and the University of Massachusetts.

In a tweet on Friday, CCI said it has approved the "proposed combination involving amalgamation of HDFC Limited, HDFC Bank, HDFC Investments and HDFC Holdings."

​​​The Pune-headquartered lender recorded a 27.10 per cent increase in gross advances to Rs 1,40,561 crore at the end of June 2022, according to published quarterly numbers of the public sector banks (PSBs).

Axis Bank is avoiding large-value corporate loans as it believes there is heavy mispricing in that segment due to low interest rates and excess liquidity of the past few years, says deputy managing director Rajiv Anand.

In the June quarter, Bank of Maharashtra (BoM) and State Bank of India (SBI) were in the lowest quartile as far as Gross Non Performing Assets (NPAs) and net NPAs were concerned, according to an analysis of the quarterly financial numbers published by the public sector lenders.