Latest news with #KarurVysyaBank
News18
3 days ago
- Business
- News18
Bonus Issue Stock: This Private Lender To Reward Shareholders On July 24, 42% Up YTD
'…we wish to inform you that in the said meeting, the Board would also consider the proposal for Issue of bonus shares in accordance with the applicable provisions, subject to approval of Shareholders of the Bank," the bank said in the filing. A bonus is an additional share/shares given by the company to shareholders from its profits at a pre-determined ratio without any extra cost. It, however, doesn't affect the holding value of the investors/shareholders as stock price adjusts post the record date of the bonus in alignment with the rising number of shares in the market. It will be the fourth bonus issue to shareholders post the listing of the company. The last bonus issue was given in 2018 in the ratio of 1:10, meaning one new equity on every 10 existing equity shares. The first was on 21 October 2002 with a 1:1 ratio, offering one bonus share for every one held. The second bonus came on 16 September 2010 at a 2:5 ratio, giving shareholders two shares for every five held. Bonus Issue History – Karur Vysya Bank Ltd Ex-Date Bonus Ratio Record Date Remarks 21 Oct 2002 1:1 (1 share for every 1 held) 28 Oct 2002 First bonus issue recorded in this list 16 Sep 2010 2:5 (2 shares for every 5 held) 18 Sep 2010 Post consistent dividend years 14 Aug 2018 1:10 (1 share for every 10 held) 18 Aug 2018 After stock split in 2016 The last trading price of the stocks was Rs 268.15 apiece as of July 18, 2025. The stock's 52-week movement indicates a high of Rs 277.55 and a low of Rs 184.40 apiece. Karur Vysya Bank Share Price History Shares are in the rising trend over the past few months. They have gained 45 per cent in the last three months as per BSE analytics. Meanwhile, the returns on year-to-date for the stocks stood at 42 per cent. Over the past five years, the stocks are up 236 per cent, multiplying investors' wealth. Karur Vysya Bank Q4 Performance The private sector lender had reported a fourth-quarter net profit of Rs 513 crore, a 12.50% increase year-on-year. Its pre-provision operating profit rose by 17.60% to Rs 835 crore. For the year ended March 31, the bank achieved its highest ever annual profit of Rs 1,942 crore and its highest quarterly profit of Rs 513 crore, said Managing Director B Ramesh Babu. 'This strong performance was driven by our focus on growth, profitability, and asset quality," he added. The net interest margin for the quarter was 4.05%, compared to 4.20% in the same quarter of the previous year. Net interest income grew by 9.11% to Rs 1,089 crore. At the end of March, the bank's total advances increased by 13.5% year-on-year to Rs 84,491 crore, while the gross non-performing assets ratio decreased to 0.76%, down 64 basis points year-on-year. Total deposits rose by 14.6% to Rs 1.02 lakh crore. Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Business Upturn
5 days ago
- Business
- Business Upturn
Karur Vysya Bank to consider bonus issue alongside Q1 results on July 24
By Aditya Bhagchandani Published on July 19, 2025, 15:16 IST Karur Vysya Bank has informed the stock exchanges that its Board of Directors will consider a proposal to issue bonus shares during its upcoming meeting scheduled on July 24, 2025. In a filing with the NSE and BSE dated July 19, 2025, the bank stated that the meeting will also take up the unaudited financial results for the quarter ended June 30, 2025, as earlier announced. The proposal for a bonus issue of equity shares will be discussed and, if approved, will be subject to shareholders' approval in accordance with applicable provisions of law. Karur Vysya Bank had previously notified that its trading window for insiders has been closed since July 1, 2025, and will remain shut till July 26, 2025, in line with its Code of Conduct for Prevention of Insider Trading. The outcome of the meeting and further details on the bonus issue will be communicated after the board meeting. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
The Hindu
16-07-2025
- Business
- The Hindu
NPCI International adds 13 more banks in UPI-PayNow linkage to ease remittances
NPCI International Payments Ltd (NIPL), the international arm of National Payments Corporation of India (NPCI), said it has further enhanced the UPI-PayNow real-time payment linkage by adding 13 more banks on the platform, thus extending its reach and simplifying cross-border remittances between India and Singapore. This will go live on July 17, 2025, and users in both countries can remit funds to a wider base, making the service more accessible and convenient. The expanded network for remittances to India now includes 19 banks – Bank of Baroda, Bank of India, Canara Bank, Central Bank of India, Federal Bank, HDFC Bank, IDFC FIRST Bank, IndusInd Bank, Karur Vysya Bank, Kotak Mahindra Bank, Punjab National Bank, South Indian Bank, and UCO Bank alongside Axis Bank, DBS Bank India, ICICI Bank, Indian Bank, Indian Overseas Bank, and State Bank of India. Recipients in India can receive remittances from Singapore in their accounts held with any of these 19 banks through their preferred UPI enabled apps such as BHIM, Google Pay and PhonePe, as well as bank apps. Outward remittances from India to Singapore are available through Canara Bank, HDFC Bank and Karur Vysya Bank, along with ICICI Bank, Indian Bank, Indian Overseas Bank and State Bank of India. In Singapore, customers of DBS SG and Liquid Group can avail this service. The UPI-PayNow service was launched as a joint initiative between the Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS). It facilitates real-time cross-border fund transfers between individuals, where Indian users can receive funds via UPI ID and send funds to users in Singapore via their mobile number or Virtual Payment Address (VPAs). This development is particularly beneficial for the Indian diaspora in Singapore, including migrant workers and students, bringing the ease of digital payments to everyday remittances. Ritesh Shukla, MD & CEO, NPCI International, said, 'The expansion of the UPI-PayNow linkage marks a step forward in strengthening cross-border payment infrastructure. By enabling access to more banks in India, we are deepening the reach of real-time remittances and supporting greater financial connectivity between the two countries.' 'This brings added convenience to users through a seamless and trusted platform,' he said. UPI-PayNow integration enables real-time cross-border remittance transactions, with funds reaching the recipient's bank account within seconds.
Time of India
10-07-2025
- Business
- Time of India
Get FD interest rate up to 8.1%: Check which bank is offering highest interest rate on FDs with 444 day tenure
Several public and private sector banks, including small finance banks, are offering attractive fixed deposit interest rates, particularly for a 444-day tenure. Senior citizens can earn up to 8.10%, despite many banks reducing FD rates after the RBI's repo rate cut. Investors should compare rates to secure the best returns, considering factors like premature withdrawal penalties and TDS implications. Tired of too many ads? Remove Ads Special deposits offered by top banks Tired of too many ads? Remove Ads Regular citizen Senior citizen ESAF Small Finance Bank 7.60 8.1 Karur Vysya Bank 6.85 7.25 Indian Bank 6.90 7.40 Indian Overseas Bank 6.95 7.45 Punjab & Sind Bank 7.05 7.55 Canara Bank 6.60 7.10 Bank of Baroda 6.60 7.10 Federal 6.85 7.35 SBI 6.6 7.10 Can FD be withdrawn before maturity? Tax Deduction at Source Can TDS influence the maturity of deposit? Several banks in the public sector and the private sector, including small finance banks, are offering attractive interest rates on fixed deposits with a specific tenure of 444 days. The highest rate currently goes up to 8.10% for senior citizens. This is despite the fact that many banks have been reducing fixed deposit (FD) interest rates after the Reserve Bank of India (RBI) reduced the repo rate at its bi-monthly Monetary Policy Committee meeting. So, FD investors should make sure to get the best rate on their us look at the banks that are offering the best FD rates for both regular and senior citizen investors on 444-day deposits. State Bank of India (SBI) on Amrit Vrishti offers 7.10% for senior citizens and 6.60% for regular depositors. For super senior citizens the bank offers 10 bps higher over the interest rate applicable for senior citizens. Bank of Baroda on bob Square Drive Deposit Scheme offers 7.10% for senior citizens and 6.60% for regular depositors. Indian Bank on IND SECURE special deposit offers 7.40% for senior citizens and 6.90% for regular citizens. For super senior Citizen the bank offers 7.65%This rate is applicable till September 30, read: No penalty on minimum balance: 6 banks that have removed savings accounts balance requirement ESAF Small Finance Bank offers the highest interest rate of 8.10% for senior citizens and 7.60% for regular depositors. Karur Vysya Bank provides 7.25% for senior citizens and 6.85% for regular citizens. Indian Overseas Bank gives 7.45% to senior citizens and 6.95% to regular citizens. Punjab & Sind Bank offers 7.55% for senior citizens and 7.05% for regular depositors. Federal Bank provides 7.35% for senior citizens and 6.85% for regular Paisabazaar dataYes, fixed deposits (FDs) can be withdrawn before maturity; however, banks may levy a penalty. Note that FDs can be withdrawn only if it is booked under a callable deposit. Most banks impose a penalty ranging from 0.50% to 1% for early withdrawal. The exact penalty depends on the bank's policy. In some cases, banks may waive the penalty if the deposit has been held for a specified minimum period, for some specified reason or for senior citizens .TDS will be deducted when interest payable or reinvested on Recurring Deposit and FD per customer across all branches, exceeds Rs.50,000 and Rs. 1,00,000/- for senior citizens)= in a financial year. TDS Certificate will be mailed to you after end of every quarter during the financial Year providing the details of TDS deducted during the per HDFC Bank website, 'Yes, in case of reinvestment deposits ,the interest reinvested is post TDS recovery & hence the maturity amount for re-investment deposits would very to the extent of tax and compounding effect on tax for the period subsequent of deduction till maturity.'
Business Upturn
07-07-2025
- Business
- Business Upturn
Karur Vysya Bank cuts MCLR by up to 25 bps across tenures, effective July 7
By Aditya Bhagchandani Published on July 7, 2025, 11:27 IST Karur Vysya Bank announced a reduction in its Marginal Cost of Funds Based Lending Rates (MCLR) across all loan tenures, effective July 7, 2025, according to a regulatory filing with NSE and BSE. The move is expected to lower borrowing costs for customers across various loan products linked to MCLR. As per the disclosure, the overnight MCLR has been reduced by 10 basis points (bps) from 9.35% to 9.25%. The one-month MCLR has come down from 9.50% to 9.40%, while the three-month MCLR saw the sharpest cut of 25 bps, dropping from 9.65% to 9.40%. Similarly, the six-month and one-year MCLRs have both been reduced from 9.80% to 9.55%, a cut of 25 bps each. The revised rates are as follows: Overnight: 9.25% One Month: 9.40% Three Months: 9.40% Six Months: 9.55% One Year: 9.55% The bank's move comes at a time when the broader interest rate environment remains stable, and banks are competing to offer more attractive rates to borrowers. This cut is expected to benefit both retail and corporate borrowers with loans linked to the bank's MCLR. Karur Vysya Bank communicated the revision under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. The reduction in MCLR is in line with the industry trend of marginal easing in lending rates and could help support credit growth in the coming quarters. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
