Vodafone Idea's (Vi's) subscriber loss reduced to a seven-month low in March, and alongside the company added 1.1 million broadband users after two months of net loss -- two things analysts have noted as key trends that need to be monitored. While Vi has been losing customers for more than two and a half years now, the churn reduced to below a million after five straight months in March, the Telecom Regulatory Authority of India (Trai) data has shown. "Jio's softer than usual subscriber growth in March, and VIL's slowing subscriber market share loss are key trends to keep an eye on going forward," global investment banking and financial services major UBS said in an analyst note.
'Those trying to use these funds for quick gains should avoid them due to risk of being late to the party.'
Standard Chartered's India strategy will focus on wealth management while credit card will remain core to its business though will avoid competition with the country's private banks, said a senior executive of the British lender. "Our focus on wealth management and affluent clients are central to our existence. "We are strong in these areas and we want to grow in these areas.
Shares of ICICI Bank, Axis Bank and HDFC Bank on Friday tumbled as much as 4.5 per cent in morning trade following accusations that the lenders have indulged in money laundering.
The country's largest private sector lender, ICICI Bank, today said credit offtake will pick from July putting pressure on lending rates.
HDFC Bank customers will be able to do 11 transactions on their Apple device using the `watchbanking' service.
Consensus continues to be cautious with analysts pointing towards tougher days ahead
ICICI Bank, the country's largest private lender, on Wednesday ruled out any interest rate hike in the near future and said it was rebalancing its portfolio.
ICICI Bank on Friday tied up with Europe's financial powerhouse Fortis for offering asset and wealth management, estate planning and corporate services to Non-Resident Indians worldwide.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Mutual funds are looking to tap into the special opportunities theme ahead of the results of the general election results and the continued uncertainty on the geo-political and interest rate fronts. Two fund houses - WhiteOak Capital and Samco - are set to launch special opportunities funds next week. Kotak MF has also filed papers with the regulator to launch a scheme in the same category.
Both the issues will be floated simultaneously either this month or the next month, subject to regulatory approvals, ICICI chief financial officer Vishakha Mulye said.
Leading private sector bank ICICI Bank has opened an office in South African city of Johannesburg with an aim to capitalise on India's growing ties with African countries.
Srei Infra Finance group chief financial officer Sanjeev K Sancheti described the asset as a good buy as it is a fully secured debt.
'On May 21 we started our final summit attempt at 5 pm. On May 22 at 4.10 am we summited Everest.'
Foreseeing Indian economy back on a high-growth trajectory in the coming months, ICICI Bank is looking at expanding its fund-generation profile and revenue streams to capitalise on the forthcoming opportunities. Since 2007, as the global and Indian economic environment has changed rapidly, the bank has focused on a conscious strategy of capital conservation, risk containment and efficiency improvement.
Private players continued to show strong momentum in the life insurance individual new business segment during August, 2023. On an aggregate, the industry registered 14 per cent growth year-on-year (Y-o-Y) compared to 15 per cent in July '23. Private players were up 21 per cent Y-o-Y, up from 16 per cent Y-o-Y in July '23, while public insurers' growth was muted at 3 per cent.
The top three mutual funds (MFs) paid out 10-18 per cent higher commissions to distributors during the financial year 2022-23 (FY23) compared to FY22 as a sustained rise in flows from the systematic investment plan (SIP) route boosted distributors' share in the assets under management (AUM), according to an analysis of the disclosures by the top three fund houses. State Bank of India (SBI) MF saw its commission payout go up 18 per cent year-on-year (YoY) to Rs 1,675 crore. The payouts rose 10 per cent and 15 per cent for ICICI Prudential MF and HDFC MF, respectively.
ICICI Securities will be the first subsidiary to be listed, followed by two insurance subsidiaries and the home finance business, he added.
Shah Rukh Khan's image and popularity with the Non-Resident Indian segment will further reinforce ICICI Bank's global identity, the bank said in a statement.\n
Banking industry sources said the move by the lender is pre-emptive to protect its interest.
For now, Modi's government appears singularly focussed on demonstrating that it is not in any way inhibited by the BJP's loss of a majority, and will continue along its patented path of bulldozing all opposition and doing just as it likes, asserts Prem Panicker.
In 2007-08, ICICI Bank was accused for violating RBI guidelines relating to opening of deposit accounts.
General insurer ICICI Lombard has structured the first ever weather insurance cover for a maximum sum insured of Rs 1.5 crore (Rs 15 million) for Gujarat Heavy Chemicals in the event of loss of salt production due to unseasonal rainfall at its Nagapa
Do not get repair work started without informing the insurer as the latter like to carry out end-to-end verification of damages and documents before approving a claim.
ICICI Infotech outsmarted Tata Consultancy Services and Wipro to get the mandate from states for setting up a national tax information exchange system (Tinxsys) to track inter-state transactions and check tax evasion.
The Securities and Exchange Board of India (Sebi) is reviewing the current stock categorisation framework followed by actively managed equity mutual funds (MFs) to ensure they are true-to-label. Individuals familiar with the matter said the universe of largecap and midcap stocks could be expanded by 25-50 stocks. The move follows concerns raised by industry players that the current threshold has been skewed following a sharp run-up in the domestic markets after the Covid-19 pandemic.
Car loans from ICICI Bank, the country's largest private sector lender, would be 50-75 basis points (bps) cheaper, while those from IDBI Bank would cost 100 bps less.
ICICI Bank has identified rural credit as the next growth platform for which it had decided to leverage the role of micro-credit organisations.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
In a rating watch statement, ICRA said that it has re-affirmed the LAAA rating with a stable outlook on ICICI Bank's subordinated debt programme and long-term bonds programme, which indicate highest credit quality and lowest credit risk for the two instruments. Besides, the ratings for the debts taken over by ICICI Bank from the erstwhile ICICI Limited have also been retained at LAAA with stable outlook and MAAA, respectively.
ICICI Bank has a network of 1,416 branches and over 4,600 automated teller machines across the country, which it manages by itself, while several other banks have outsourced their ATM management and POS (credit and debit card payment accepting) terminals.
ICICI Bank UK Ltd, a wholly owned subsidiary of ICICI Bank Ltd, India's second largest Bank, has enhanced its presence in the United Kingdom by inaugurating branches in Manchester and Southall on Thursday.
MD Chanda Kochhar says the facility 'has the potential to increase security and convenience'
Top Indian private sector lender ICICI Bank, which owns nearly 68 percent of the insurer, is selling up to 181.34 million shares in the IPO.
Billionaire Mukesh Ambani-promoted Reliance Industries Ltd (RIL) on Tuesday became the first listed company to hit the Rs 20 lakh crore market valuation mark. The market heavyweight's stock jumped 1.88 per cent to its record high of Rs 2,957.80 apiece on the BSE. It finally settled at Rs 2,928.95 per piece, up 0.90 per cent on the bourse.
