Page 8 - Banking Finance June 2021

BANK UPDATE

equity tier-1 ratio of 11.2 per cent at transformation stories of bravery, launch of HDFC Banking and Financial
the end of the last fiscal (FY21), as sacrifice and compassion, the bank Services Fund, a new fund offer (NFO)
compared with 13.1 per cent Q3FY21. aims to reach a wider audience with for retail investors.
the series to inspire and give hope to
The new fund aims to invest in banking
Bank of Maharashtra the Indians in times of uncertainty. and financial services sector across
top performer among PSU 'Circle of Life' series signifies a way of segments and market capitalization
taking and giving back to the society including, banking, broking, asset
banks and showcases the lives of people who management, wealth management,
Bank of Maharashtra (BoM) has have gone through a transformative insurance, non-banking financial
emerged as the top performer among journey. companies (NBFC), and other
public sector lenders in terms of loan Equitas invests the money that people companies that may be engaged in
and deposit growth during financial save with the bank back in providing financial services. The fund
year 2020-21.
communities thus making money a will invest in companies which are
The lender recorded 13.45 per cent force for good in contributing for a leaders and/or are gaining market
increase in gross advances at Rs 1.07 sustainable social change. While you shares due to superior execution, scale,
lakh crore in 2020-21, as per the choose to bank with Equitas, you just and better adoption of technology.
published data of BoM. don't earn rewarding interest, you also The fund will also focus on

It was followed by Punjab & Sind Bank contribute to build a better society. opportunities in new listings including
which posted 8.39 per cent growth in Each story reflects positive impact pre-IPO participation in lending,
advances with aggregate loans at Rs beyond banking and how Equitas Small insurance, capital market businesses
67,811 crore at the end of March 2021. Finance Bank helps in changing lives of and fintechs.
When it came to deposit mobilisation, people through micro lending and
social initiatives. The NFO will run from June 11, 2021
BoM with nearly 16 per cent growth was to June 25, 2021. Being an open ended
ahead of even the country's largest Equitas through its Bird's Nest - fund, one can also invest thereafter.
lender State Bank of India, which Pavement Dweller Rehabilitation
recorded 13.56 per cent rise. program, provided housing, food Tanla Platforms to enable
However, in absolute terms SBI's security, healthcare, livelihood skill
deposit base was 21 times higher at Rs development, and supplemental WhatsApp Banking
36.81 lakh crore as against Rs 1.74 lakh education to ultra-poor families over solution for Axis bank
crore of BoM. an 18-month period - ultimately Karix Mobile, which is a wholly-owned
placing them on the path to self-
Current Account Savings Account sufficiency. The bank has transformed subsidiary of Tanla Platforms
(CASA) for BoM saw 24.47 per cent lives of over 2000+ pavement dwellers announced the deployment of a
rise, the highest among the public in Chennai. conversational banking solution
sector lenders, during the year. namely, WhatsApp Business for India's
The small finance bank is known for its
As a result, CASA was 54 per cent or third-largest private sector bank i.e.
ideology and belief in giving back to the
Rs 93,945 crore of the total liability of Axis Bank.
community they serve and uplift them
the bank. With the deployment of this service,
in a sustainable manner. Through the
video, the bank shows a glimpse of the the customers of Axis Bank can now
Equitas Bank Goes successful transformation of a one such start a WhatsApp chat with the bank
Beyond Banking, launches community member, Shanthi. to conduct frequent banking activities
on the go. A number of financial
inspiring web series HDFC Mutual Fund services such as checking account

Equitas Small Finance Bank has launches HDFC Banking & balance, checking of credit card bill
launched a new web series on their amount, knowing nearest branch or
social media platforms, called 'Circle of Financial Services Fund ATM location, etc can now be availed

Life' that features real life HDFC Mutual Fund has announced the using this service.

8 | 2021 | JUNE | BANKING FINANCE