Manojit Saha

All stories by Manojit Saha

As of now Mobikwik has no plans to enter banking space

As of now Mobikwik has no plans to enter banking space

Rediff.com8 Nov 2023

'We are focused on playing on our strengths, which are technology, and building a large profitable business by working with banks as well as non-banks and NBFCs for loans.'

HDFC Bank 2.0 under Sashidhar Jagdishan: Steady beginning, miles to go

HDFC Bank 2.0 under Sashidhar Jagdishan: Steady beginning, miles to go

Rediff.com6 Nov 2023

Sashidhar Jagdishan, managing director and chief executive officer of HDFC Bank, the largest private-sector lender of the country, has just completed his first term. The period October 2020-October 2023 was a roller coaster, and the second one, which started on October 27, could be more interesting as the lender absorbs the impact of the merger of HDFC, which was integrated on July 1, and moves to the next growth phase. Soon after he took over the reins from Aditya Puri on October 27, 2020, the Reserve Bank of India (RBI) debarred HDFC Bank from enrolling new credit card customers and launching new products under the Digital 2.0 programme due to repeated outages on its mobile-banking and internet-banking platforms.

RBI directs pvt banks to have at least two wholetime directors

RBI directs pvt banks to have at least two wholetime directors

Rediff.com26 Oct 2023

In a move to strengthen governance in private sector banks and wholly-owned subsidiaries of foreign banks, the Reserve Bank of India (RBI) on Wednesday directed them to have at least two wholetime directors. Lenders that do not meet the requirement will have to submit the names for the RBI's approval within four months. Banks need prior approval from the banking regulator for the appointment of wholetime directors.

'Time RBI became data-dependent'

'Time RBI became data-dependent'

Rediff.com18 Oct 2023

'Data-dependence means you can raise or drop rates. The present stance is only for raising rates.'

HDFC Bank goes for first major rejig after merger

HDFC Bank goes for first major rejig after merger

Rediff.com4 Oct 2023

HDFC Bank has reshuffled the portfolios of its senior management team. This is the first major rejig after the amalgamation of HDFC Ltd on July 1. "The runway for our growth is large. This change is being done to bring in a very sharp focus on leveraging what we have built and for enhanced execution," said Sashidhar Jagdishan, managing director and chief executive of HDFC Bank, explaining the reason for this overhaul.

A first in 10 yrs: Currency flow drops in H1 due to Rs 2k note withdrawal

A first in 10 yrs: Currency flow drops in H1 due to Rs 2k note withdrawal

Rediff.com3 Oct 2023

The currency in circulation (CIC) declined in the first half of this financial year and this is the first time this has happened in H1 in at least 10 years. The CIC on March 31, 2023, was Rs 33.78 trillion, which fell to Rs 33.01 trillion on September 22 -- a difference of about Rs 76,658 crore. In the first half of the last two financial years, the CIC went up by Rs 33,357 crore in FY23 and Rs 84,978 crore in FY22.

'Jeevan Kiran offers a risk cover at no cost'

'Jeevan Kiran offers a risk cover at no cost'

Rediff.com24 Aug 2023

'At the policy's maturity, the total premium is refunded.'

'ICICI Pru's focus is on value of new business growth'

'ICICI Pru's focus is on value of new business growth'

Rediff.com15 Aug 2023

'If through growth and serving the customer we become number one, we will be very happy and very proud.'

As food prices spiral, fight against inflation not over: RBI report

As food prices spiral, fight against inflation not over: RBI report

Rediff.com18 Jul 2023

The spike in food prices at the onset of the monsoon season has corroborated the Reserve Bank of India's (RBI's) view that the fight against inflation is far from over, the State of the Economy report of the central bank said. At the same time, the report said that the country is poised to become the fastest-growing major economy in the world, notwithstanding some sequential moderation in economic activity in June. Consumer Price Index (CPI)-based inflation rate increased to 4.8 per cent in June 2023, from 4.3 per cent in May, primarily on account of an increase in food inflation.

'The first priority is to ensure seamless customer service without any disruption'

'The first priority is to ensure seamless customer service without any disruption'

Rediff.com17 Jul 2023

'We created war rooms -- from an IT perspective and also a customer war room -- to address any challenges that come up.'

'Growth is fragile'

'Growth is fragile'

Rediff.com11 Jul 2023

'If all goes well, we may well hit or even surpass the forecast growth rate.'

Why Don't These Banks Have A Chairman?

Why Don't These Banks Have A Chairman?

Rediff.com29 Jun 2023

UCO Bank, Bank of Maharashtra, Bank of India, Indian Overseas Bank, Indian Bank, and Central Bank of India don't have a non-executive chairman.

'India is fastest-growing large economy in the world'

'India is fastest-growing large economy in the world'

Rediff.com23 Jun 2023

'India has formed tremendous resilience and still a strong growth.'

'We should not call it demonetisation'

'We should not call it demonetisation'

Rediff.com12 Jun 2023

'...because it is still a legal tender.'

What Links Rs 30,252 Crore And Banks?

What Links Rs 30,252 Crore And Banks?

Rediff.com7 Jun 2023

Private sector banks reported the maximum number of frauds in 2022-2023.

CBDC Pilot May Continue For One More Year

CBDC Pilot May Continue For One More Year

Rediff.com2 May 2023

One reason why volumes have not increased in the retail segment is that users are not aware of merchants who accept digital currency.

Supply shocks led to price rise during pandemic, says SBI report

Supply shocks led to price rise during pandemic, says SBI report

Rediff.com25 Apr 2023

The price hikes during Covid were more because of supply chain and logistics disruptions caused by the pandemic and the Ukraine war rather than firms increasing prices because of higher pricing power, a report by State Bank of India (SBI) said. "It is thus incorrect to infer that concentration power dictated pricing capacity of firms, thus resulting in unyielding core inflation," the report authored by Soumya Kanti Ghosh, group chief economic adviser, SBI, said. A recent research article by former Reserve Bank of India (RBI) deputy governor Viral Acharya had observed that persistence of core inflation in India is due to purchasing power of top-five corporate houses.

HDFC Bank to continue opening branches at same speed in FY24 as last year

HDFC Bank to continue opening branches at same speed in FY24 as last year

Rediff.com24 Apr 2023

After opening close to 1,500 branches in 2022-23, HDFC Bank, the country's largest private sector lender, will continue expanding its branch network at the same speed in the current financial year. The lender says branch expansion is crucial for deposit mobilisation. As of March 31, 2023, HDFC Bank had 7,821 branches, up from 6,342 a year ago.

Pause now, lower later: Repo rate cuts may start by year-end

Pause now, lower later: Repo rate cuts may start by year-end

Rediff.com18 Apr 2023

Higher for longer' may be the narrative in the developed markets, but interest rates might not stay high for very long in India, with a section of the market expecting rate cuts to begin this year. The six-member Monetary Policy Committee of Reserve Bank of India (RBI) decided to keep interest rates unchanged at 6.5 per cent in the April review - after hiking the policy repo rate in six previous meetings. RBI Governor Shaktikanta Das emphasised that the pause was only for the April policy and that the central bank was ready to act if the situation demanded.

'No need to raise capital for Citi deal'

'No need to raise capital for Citi deal'

Rediff.com28 Feb 2023

'Citibank customers will migrate to the Axis Bank platform over 18 months.'

Prev  |  Next