Latest news with #adequacy
Economic Times
4 days ago
- Business
- Economic Times
Received approval from board to raise Rs 5,000 cr: Indian Bank MD & CEO
Public sector Indian Bank has received approval from the board to raise Rs 5,000 crore during the financial year, a top official has said. The Chennai-headquartered bank reported a capital adequacy ratio of 17.80 per cent for the April-June 2025 quarter, the bank's Managing Director and CEO Binod Kumar said. "Approval is there. We have to raise Rs 5,000 crore. Not QIP (Qualified Institutional Placement) or by any other instruments. But, I do not think it (fund raise) will be required (immediately). 17.8 per cent (of Capital Adequacy Ratio) is there.., " he told PTI in a brief the April-June 2025 quarter, the Capital Adequacy Ratio of the bank rose to 17.80 per cent from 16.47 per cent recorded in the same quarter of last financial the fund raising plan, the bank is betting big on its UPI related payments proposal, as it is currently working on developing an IND-UPI application, similar to the services provided by PhonePe, GPay or PayTM. Through such an initiative, the bank would be able to save about Rs 150 crore every Kumar said the bank is developing its own UPI app named 'IND-UPI', a UPI-based payment solution similar to the current PhonePe, GPay or PayTM services."Right now, our customers are using other UPI apps and we (Indian Bank) have to pay them a fee. Monthly, it will be around Rs 12 crore. With the IND-UPI payment facility, customers will be able to make payments using our own application and through this we will be able to save Rs 12 crore per month (around Rs 150 crore per annum)", he explained that the application is currently used by the senior officials of the bank as a 'Closed User Group' and it would be rolled out to customers soon after getting the approval from NPCI."By this initiative, we will be able to save a handsome amount. We will be able to pass on the benefits to our own customers like providing incentives whenever they use IND-UPI app to make UPI-transactions," he a query about hiring plans, he replied in the affirmative, stating they have received approval to recruit 3,000 employees during the current financial year across "all levels." "It will be 3,000 people across all levels this year. We are going to do specialised hiring like cyber security, risk specialists, there will be multiple specialised roles," he Bank reported a 24 per cent rise in net profit to Rs 2,973 crore in the April-June 2025 quarter. The bank earned a net profit of Rs 2,403 crore in the corresponding quarter of last financial year."The result is in line because earlier the growth has been a challenge for us. But this quarter we have grown in double digit. Earlier we grew in single digit," he the bank's target for this year under the recoveries segment, he said, "We have given guidance of Rs 5,500 to Rs 6,500 crore for the year. But in this April-June 2025 quarter itself, we have recovered Rs 2,059 crore. It is a good one". The total income of the bank grew to Rs 18,721 crore during the April-June 2025 quarter from Rs 16,945 crore registered in the corresponding quarter of last financial year. PTI
Mint
4 days ago
- Business
- Mint
Received approval from board to raise ₹5,000 cr: Indian Bank MD & CEO
Chennai, Jul 27 (PTI) Public sector Indian Bank has received approval from the board to raise ₹ 5,000 crore during the financial year, a top official has said. The Chennai-headquartered bank reported a capital adequacy ratio of 17.80 per cent for the April-June 2025 quarter, the bank's Managing Director and CEO Binod Kumar said. "Approval is there. We have to raise ₹ 5,000 crore. Not QIP (Qualified Institutional Placement) or by any other instruments. But, I do not think it (fund raise) will be required (immediately). 17.8 per cent (of Capital Adequacy Ratio) is there.., " he told PTI in a brief interaction. During the April-June 2025 quarter, the Capital Adequacy Ratio of the bank rose to 17.80 per cent from 16.47 per cent recorded in the same quarter of last financial year. Besides the fund raising plan, the bank is betting big on its UPI related payments proposal, as it is currently working on developing an IND-UPI application, similar to the services provided by PhonePe, GPay or PayTM. Through such an initiative, the bank would be able to save about ₹ 150 crore every year. Elaborating, Kumar said the bank is developing its own UPI app named 'IND-UPI', a UPI-based payment solution similar to the current PhonePe, GPay or PayTM services. "Right now, our customers are using other UPI apps and we (Indian Bank) have to pay them a fee. Monthly, it will be around ₹ 12 crore. With the IND-UPI payment facility, customers will be able to make payments using our own application and through this we will be able to save ₹ 12 crore per month (around ₹ 150 crore per annum)", he said. Kumar explained that the application is currently used by the senior officials of the bank as a 'Closed User Group' and it would be rolled out to customers soon after getting the approval from NPCI. "By this initiative, we will be able to save a handsome amount. We will be able to pass on the benefits to our own customers like providing incentives whenever they use IND-UPI app to make UPI-transactions," he said. To a query about hiring plans, he replied in the affirmative, stating they have received approval to recruit 3,000 employees during the current financial year across "all levels." "It will be 3,000 people across all levels this year. We are going to do specialised hiring like cyber security, risk specialists, there will be multiple specialised roles," he said. Indian Bank reported a 24 per cent rise in net profit to ₹ 2,973 crore in the April-June 2025 quarter. The bank earned a net profit of ₹ 2,403 crore in the corresponding quarter of last financial year. "The result is in line because earlier the growth has been a challenge for us. But this quarter we have grown in double digit. Earlier we grew in single digit," he said. On the bank's target for this year under the recoveries segment, he said, "We have given guidance of ₹ 5,500 to ₹ 6,500 crore for the year. But in this April-June 2025 quarter itself, we have recovered ₹ 2,059 crore. It is a good one".
Mint
4 days ago
- Business
- Mint
Received approval from board to raise ₹5,000 cr: Indian Bank MD & CEO
Chennai, Jul 27 (PTI) Public sector Indian Bank has received approval from the board to raise ₹ 5,000 crore during the financial year, a top official has said. The Chennai-headquartered bank reported a capital adequacy ratio of 17.80 per cent for the April-June 2025 quarter, the bank's Managing Director and CEO Binod Kumar said. "Approval is there. We have to raise ₹ 5,000 crore. Not QIP (Qualified Institutional Placement) or by any other instruments. But, I do not think it (fund raise) will be required (immediately). 17.8 per cent (of Capital Adequacy Ratio) is there.., " he told PTI in a brief interaction. During the April-June 2025 quarter, the Capital Adequacy Ratio of the bank rose to 17.80 per cent from 16.47 per cent recorded in the same quarter of last financial year. Besides the fund raising plan, the bank is betting big on its UPI related payments proposal, as it is currently working on developing an IND-UPI application, similar to the services provided by PhonePe, GPay or PayTM. Through such an initiative, the bank would be able to save about ₹ 150 crore every year. Elaborating, Kumar said the bank is developing its own UPI app named 'IND-UPI', a UPI-based payment solution similar to the current PhonePe, GPay or PayTM services. "Right now, our customers are using other UPI apps and we (Indian Bank) have to pay them a fee. Monthly, it will be around ₹ 12 crore. With the IND-UPI payment facility, customers will be able to make payments using our own application and through this we will be able to save ₹ 12 crore per month (around ₹ 150 crore per annum)", he said. Kumar explained that the application is currently used by the senior officials of the bank as a 'Closed User Group' and it would be rolled out to customers soon after getting the approval from NPCI. "By this initiative, we will be able to save a handsome amount. We will be able to pass on the benefits to our own customers like providing incentives whenever they use IND-UPI app to make UPI-transactions," he said. To a query about hiring plans, he replied in the affirmative, stating they have received approval to recruit 3,000 employees during the current financial year across "all levels." "It will be 3,000 people across all levels this year. We are going to do specialised hiring like cyber security, risk specialists, there will be multiple specialised roles," he said. Indian Bank reported a 24 per cent rise in net profit to ₹ 2,973 crore in the April-June 2025 quarter. The bank earned a net profit of ₹ 2,403 crore in the corresponding quarter of last financial year. "The result is in line because earlier the growth has been a challenge for us. But this quarter we have grown in double digit. Earlier we grew in single digit," he said. On the bank's target for this year under the recoveries segment, he said, "We have given guidance of ₹ 5,500 to ₹ 6,500 crore for the year. But in this April-June 2025 quarter itself, we have recovered ₹ 2,059 crore. It is a good one". The total income of the bank grew to ₹ 18,721 crore during the April-June 2025 quarter from ₹ 16,945 crore registered in the corresponding quarter of last financial year.
News18
4 days ago
- Business
- News18
Received approval from board to raise Rs 5,000 cr: Indian Bank MD & CEO
Last Updated: Chennai, Jul 27 (PTI) Public sector Indian Bank has received approval from the board to raise Rs 5,000 crore during the financial year, a top official has said. The Chennai-headquartered bank reported a capital adequacy ratio of 17.80 per cent for the April-June 2025 quarter, the bank's Managing Director and CEO Binod Kumar said. 'Approval is there. We have to raise Rs 5,000 crore. Not QIP (Qualified Institutional Placement) or by any other instruments. But, I do not think it (fund raise) will be required (immediately). 17.8 per cent (of Capital Adequacy Ratio) is there.., " he told PTI in a brief interaction. During the April-June 2025 quarter, the Capital Adequacy Ratio of the bank rose to 17.80 per cent from 16.47 per cent recorded in the same quarter of last financial year. Besides the fund raising plan, the bank is betting big on its UPI related payments proposal, as it is currently working on developing an IND-UPI application, similar to the services provided by PhonePe, GPay or PayTM. Through such an initiative, the bank would be able to save about Rs 150 crore every year. Elaborating, Kumar said the bank is developing its own UPI app named 'IND-UPI', a UPI-based payment solution similar to the current PhonePe, GPay or PayTM services. 'Right now, our customers are using other UPI apps and we (Indian Bank) have to pay them a fee. Monthly, it will be around Rs 12 crore. With the IND-UPI payment facility, customers will be able to make payments using our own application and through this we will be able to save Rs 12 crore per month (around Rs 150 crore per annum)", he said. Kumar explained that the application is currently used by the senior officials of the bank as a 'Closed User Group' and it would be rolled out to customers soon after getting the approval from NPCI. 'By this initiative, we will be able to save a handsome amount. We will be able to pass on the benefits to our own customers like providing incentives whenever they use IND-UPI app to make UPI-transactions," he said. To a query about hiring plans, he replied in the affirmative, stating they have received approval to recruit 3,000 employees during the current financial year across 'all levels." 'It will be 3,000 people across all levels this year. We are going to do specialised hiring like cyber security, risk specialists, there will be multiple specialised roles," he said. Indian Bank reported a 24 per cent rise in net profit to Rs 2,973 crore in the April-June 2025 quarter. The bank earned a net profit of Rs 2,403 crore in the corresponding quarter of last financial year. 'The result is in line because earlier the growth has been a challenge for us. But this quarter we have grown in double digit. Earlier we grew in single digit," he said. On the bank's target for this year under the recoveries segment, he said, 'We have given guidance of Rs 5,500 to Rs 6,500 crore for the year. But in this April-June 2025 quarter itself, we have recovered Rs 2,059 crore. It is a good one". The total income of the bank grew to Rs 18,721 crore during the April-June 2025 quarter from Rs 16,945 crore registered in the corresponding quarter of last financial year. PTI VIJ VIJ KH view comments First Published: July 27, 2025, 16:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
CBS News
7 days ago
- Politics
- CBS News
Florida federal judge shuts out conservation groups from lawsuit aimed at protecting North Atlantic right whales
A Florida federal judge Wednesday refused to allow conservation groups to intervene in a lawsuit to help defend a rule aimed at protecting endangered North Atlantic right whales, after the groups expressed concerns about the Trump administration's commitment to the protections. U.S. District Judge Charlene Edwards Honeywell's decision came in a lawsuit filed in March by Florida resident Gerald Eubanks, who piloted his boat, M/V Determination III, from Florida to South Carolina in 2022. He was later fined $14,250 by the National Oceanic and Atmospheric Administration for violating a speed limit designed to protect the whales. The lawsuit, which names as defendants the agency known as NOAA and U.S. Commerce Secretary Howard Lutnick, challenges the fine and the legitimacy of a speed-limit rule. The 2008 rule limits speeds to 10 knots for vessels that are over 65 feet during certain times and places off the East Coast. The groups Whale and Dolphin Conservation, Defenders of Wildlife, Conservation Law Foundation and the Center for Biological Diversity filed a motion in March to intervene in the case. The request said the groups have long sought to protect right whales from being struck by vessels and pointed to years of clashes with the federal government about the issue. "The recent change in presidential administration further suggests that defendants (NOAA and Lutnick) may not adequately represent conservation groups' interests. … The current (Trump) administration has already staked out its interest in limiting the reach of the ESA (Endangered Species Act) and MMPA (Marine Mammal Protection Act) and in identifying regulations implementing these statutes for suspension, revision or rescission," the motion said, referring to two key laws. "If it determines that the vessel speed rule is at odds with its current policy objectives, it may not share conservation (groups') goal of mounting a vigorous legal defense. While defendants have not yet asserted their position, this administration change casts additional doubt on the adequacy of their representation." But in her ruling Wednesday, Honeywell wrote that the groups "failed to identify actions by the new presidential administration that indicates a risk of shift in policy." "The government seeks to enforce plaintiff's citation by defending the validity of the vessel speed rule, and conservation groups seek to protect right whales by defending the validity of the same rule," Honeywell wrote. "Thus, conservation groups' objective in defending the vessel speed rule is identical to that of the government." The NOAA website describes North Atlantic right whales as "one of the world's most endangered large whale species." It said about 370 of the whales remain. They migrate each fall from areas such as New England and Canada to calving grounds off Northeast Florida, Georgia and South Carolina. The lawsuit, which is pending in federal court in Tampa, said Eubanks was fined for traveling about 18 knots for 200 miles. It contends NOAA did not have authority under federal law to issue the speed-limit rule. It said that if the rule is supported by law, it would demonstrate "rulemaking power so broad and unconstrained as to constitute a delegation of lawmaking power" that would violate the U.S. Constitution.
