HDFC Bank on Wednesday reported a 2.3 per cent year-on-year rise in its consolidated net profit to Rs 17,657 crore for the October-December quarter, restricted by slower loan growth. On a standalone basis, the largest private sector lender's net profit came at Rs 16,735.50 crore for the period, up from Rs 16,372.54 crore in the year-ago period, but marginally down from the preceding quarter's Rs 16,820.97 crore.
The country's largest private sector lender HDFC Bank on Saturday said it will grow its loan book slower than the industry in the current financial year (FY25). The move comes as the lender looks to bring down its elevated credit - deposit (CD) ratio to pre-merger levels. "We will bring down the CD ratio faster than what we had anticipated.
'We have seen something do very well when the times are good but maybe not as well when the times are bad.'
Saif and Kareena moved to Satguru Sharan after Jeh was born.
RBI cuts GDP growth projection to 6.6 per cent for current financial year, from earlier forecast of 7.2 per cent.
The SC questioned the language used by Allahbadia during the show, saying society has some values.
The RBI has changed the way it approached supervision in the past. Having seen a couple of collapses in the NBFC sector and the near-collapse of a few banks, it is focusing on regular drills to prevent a fire from breaking out, explains Tamal Bandyopadhyay.
Delhi's third woman Chief Minister Atishi, who replaced Arvind Kejriwal after his resignation in September last year, filed her nomination on Tuesday for the upcoming Assembly polls, declaring a net worth of Rs 76.93 lakh, with no car or house in her name. According to Atishi's affidavit submitted to the Election Commission (EC), her movable assets include Rs 30,000 cash in hand, gold jewellery worth Rs 1 lakh and approximately Rs 75 lakh held in bank accounts as fixed deposits and savings. The affidavit also revealed that Atishi does not own any immovable property.
Bank credit growth is expected to moderate this financial year after a robust 16 per cent estimated for last financial year, driven by strong economic activity and retail credit demand. There are three reasons for this: a statistical high-base effect given the strong growth seen last financial year, revision in risk weights by the Reserve Bank of India (RBI), and relatively slower economic activity.
The Supreme Court of India harshly criticized a man for abandoning his wife and minor daughters, calling his actions "cruel" and questioning his humanity. The court demanded the man provide financial support to his family, including his daughters, before it would consider any favorable orders in his case. The man had previously been convicted of domestic abuse and fraudulently removing his wife's uterus. The court's strong stance highlights the ongoing issue of domestic violence and the need for legal protection for women and children in India.
Reflecting strong momentum in business, commercial banks, including one public sector lender, reported a year-on-year (YoY) growth in advances. This was higher than or around the banking sector trend in the first quarter ended June 2023. Bank of Maharashtra said its loans expanded by 25 per cent YoY to Rs 1.75 trillion. This pace was much higher than the banking system's 15.4 per cent growth till June 16, 2023, according to Reserve Bank of India (RBI) data.
Tax experts answer your budget-related queries
The Supreme Court of India has expressed concern over the protracted trials in heinous offences related to Maoist activities, stating that indefinite incarceration violates the right to liberty under Article 21 of the Constitution. Two separate benches of the court granted relief to two accused, citing the delayed trials. One bench expedited the trial of a man accused of transporting ammunition for a banned organization, while the other granted bail to a man accused of transporting materials for Naxal activities. The court emphasized the importance of speedy trials and suggested the establishment of special courts to handle Maoist-related cases, aiming to expedite proceedings. The court also criticized the practice of examining an excessive number of witnesses, which can lead to indefinite delays in the conclusion of trials.
'With a very stable technology with limited functionalities, a large network has spanned out.'
Union Finance Minister Nirmala Sitharaman's call for making lending rates affordable may not resonate anytime soon as banks still struggle with margin compression, and await clues from the Reserve Bank of India (RBI) on liquidity and rate action. Hinting that any lending rate cut was some time away, State Bank of India (SBI) managing director Vinay M Tonse said there was still some aggression in the market regarding deposit pricing.
ELSS investments require a long-term commitment of at least seven years.
A tagline below this adds "feel free to do so", an indication that questions will not be asked how the weapons were in their possession of those who drop by in the first place.
Brazilian authorities have rescued 163 workers from conditions similar to 'slavery' at a construction site for a factory of Chinese electric vehicle company Build Your Dreams (BYD) in Camacari, Bahia.
Mumbai City FC held off a late scare from East Bengal FC to secure a thrilling 3-2 victory in the Indian Super League (ISL) in Kolkata on Monday.
Finance Minister (FM) Nirmala Sitharaman has presented a forward-looking Budget, reinforcing the government's commitment to 'Reform, Perform, and Transform'.
Breaking the streak of continuous fall in outstanding amounts, non-resident Indian (NRI) deposits rose for the first time in the financial year to $134.54 billion in October 2022. The figure was $133.67 billion in September. Reserve Bank of India (RBI) data showed that NRI deposits were in shrinking mode for the first six months of FY23. They fell to $133.67 billion in September from $139 billion in March.
An extensive drug trafficking network operating throughout north India, with a particular focus on Shimla, has been busted following the arrest of two individuals - one from Kolkata and one from Delhi. The syndicate used online platforms for booking drugs, misusing innocent people's accounts and delivering drugs through couriers. Police have frozen 21 accounts associated with the network and arrested 16 individuals, including the kingpin, Sandeep Shah.
Feature for feature, bank FDs are indeed better than debt funds today, mainly thanks to Ms Sitharaman, notes Debashis Basu.
As the US gets tougher with visas, the prayers of US-bound devotees in India are getting more fervent, and their purse strings looser. Called Visa Hanuman temples (there are half a dozen all over India), some of them ask for a 'fee'.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
What is pushing students to take this extreme step?
'The impact of CBDC on deposits and deposit insurance is largely unknown.'
It is to be seen if SBI under Setty, who will have a three-year term, can ride the economic cycle to take SBI to new heights, navigating some of these challenges.
'There has been a change in the advances mix, with the share of corporate loans decreasing.'
'Each side could consider challenging the NCLAT's stay order before the Supreme Court.'
Currently there are 26 licensed players in the P2P lending sector but only 10-11 are actively operating.
The bypolls were held in six constituencies - Naihati, Haroa, Medinipur, Taldangra, Sitai (SC), and Madarihat (ST) - following the resignation of MLAs who had vacated their assembly seats after securing victories in the 2024 Lok Sabha elections.
Nearly 3,000 polling booths have been identified as sensitive, and special security arrangements, including drone surveillance, have been ensured at some of these locations.
The Congress party suffered a crushing defeat in the Delhi elections, failing to secure a single seat in the 70-member assembly for the third consecutive time. Key candidates, including Sheila Dikshit's son, Sandeep Dikshit, lost their deposits. The only consolation for the party was a slight improvement in its vote share, which they attribute to a vigorous campaign and a renewed focus on contesting elections independently. However, the defeat raises questions about the party's ability to compete in the upcoming 2024 Lok Sabha elections, particularly in light of its performance in other recent state elections.
Widespread use of crypto assets, including stablecoins, can have a negative impact on the macroeconomic and financial stability of a country, the Reserve Bank of India (RBI) said on Monday. In its Financial Stability Report (FSR), the banking regulator highlighted that excessive use of crypto assets can reduce effectiveness of monetary policy, worsen fiscal risks, circumvent capital flow management measures, divert resources available for financing the real economy and threaten global financial stability.
The Supreme Court of India will examine the age limits for surrogate mothers and other provisions of the Surrogacy Regulation Act and Assisted Reproductive Technology (Regulation) Act on February 11. The court has asked the government to file its written submissions on the matter. The laws set age limits for intended parents and surrogate mothers, restricting commercial surrogacy and emphasizing altruistic surrogacy. The court is also considering alternative mechanisms for compensating surrogate mothers and has proposed a designated authority for disbursing payments instead of intended couples.
The police went to Robin Uthappa's house to issue a notice. Since he does not reside at that address at present, a warrant has been executed for the former cricketer.
Infrastructure bond issuances by commercial banks in the current financial year (FY25) are likely to surpass Rs 1 trillion, almost double that of FY24, market participants said. So far this financial year, banks have raised Rs 74,256 crore via infra bonds. In FY24, the total issuances stood at around Rs 51,081 crore.
Kumar's parents failed to deposit Rs 17,500 as the acceptance fee by June 24, the deadline for depositing the requisite fees for blocking the seat.
Women will have to wear hijab and have to be accompanied by a family member to enter the campus, according to the rules that came into effect on Friday.
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