However, the meeting of the company's board of directors, through video conferencing, started at 1.30 pm and ended only at 11.50 pm on Tuesday, according to a filing made to BSE at 12.51 am on Wednesday. In the 2024 December quarter, the airline, which had been facing multiple headwinds, raised Rs 3,000 crore from qualified institutional investors.
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.
Private sector banks that announced their earnings for the October-December quarter (Q3) of 2024-25 (FY25) reported a rise in credit costs due to higher provisions, mainly for unsecured retail loans.
The finance minister, in her Budget speech, should focus more on what she is directly responsible for, rather than on programmes where her role is largely supportive, notes Nitin Desai.
"Going forward financing infrastructure is going to be a big challenge for the banking sector... a big issue is the asset-liability mismatch. . .apart from finding resources, Banks will also need to hone their skills in appraisal and management of risks inherent in infrastructure lending," RBI governor D Subbarao told an IMC-organised banking conference in Mumbai.
The NBFC was registered on December 1998, with an office in Lucknow.
An analysis of the affidavits of all the 90 winning candidates by the Association for Democratic Reforms and Haryana Election Watch show a slight rise in the number of crorepati MLAs, from 93 percent in 2019 to 96 percent this time.
HDFC Bank's market capitalisation (market cap) touched Rs 13 trillion in Thursday's (December 28, 2023) intra-day trades as the largest private sector lender is set to report its sharpest monthly rally in the past two years. At 10:33 AM; HDFC Bank's market cap stood at Rs 13.03 trillion, the BSE data shows. The stock was up 1 per cent at Rs 1,717.90 in intra-day trades on December 29, inching towards its record high of Rs 1,757.80 touched on July 3, 2023.
Allocation to bank deposits -- fixed deposits, savings account deposits, and current account deposits -- came down.
FDs are not advisable for long-term wealth creation as their post-inflation, post-tax returns are not very attractive.
Your choice between the Old and New Tax Regimes should reflect your financial strategy and investment goals, says Ramalingam Kalirajan
Privately, many bankers admit their immediate goal is not growth but slowing the erosion of Casa deposits, reveals Tamal Bandyopadhyay.
It is advisable to file your ITR right away and not rely on potential extensions.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
ICICI Prudential Life Insurance (IPRU) disappointed the market even though some analysts said the Q3FY25 results were in line. Most analysts cut margin estimates. The insurer reported M9FY25 growth of 8.5 per cent year-on-year (Y-o-Y) in value of new business (VNB) premium to Rs 1,575 crore, while total annual premium equivalent (APE) grew 27.2 per cent to Rs 6,910 crore.
The systematic withdrawal plan stands out as a superior option, providing steady income despite market fluctuations and inflation, says Ramalingam Kalirajan.
Regularly monitor your account for any suspicious activity. Keep your devices updated with the latest security patches to prevent vulnerabilities. Ensure the physical wallet you use is stored securely to avoid loss or theft.
'It is observed that some of our branches are already losing good balances in their savings deposits as well as fixed deposits, which are maturing, to the other banks.'
'The stabilisation of interest rates followed by reduction is going to happen over the next year.'
Honda Cars India (HCIL) net profit dropped by 52.8 per cent year-on-year (Y-o-Y) to Rs 661.4 crore in 2023-24 (FY24), primarily due to deferred tax of Rs 359.8 crore, according to the annual results submitted to the Registrar of Companies (RoC) and reviewed by Business Standard. In FY24, the company's production increased by 16 per cent Y-o-Y to 134,807 units.
'When the government wants to sell these assets, even if one set of assets gets caught in any quagmire, the whole process will fail.' 'The entire world is watching us.'
Finance Minister Nirmala Sitharaman on Saturday reviewed the performance of public sector banks (PSBs) on various financial health parameters and their resilience in the wake of the current global financial scenario emanating from the failure of some international banks in the US and Europe.
Penalties for non-disclosure or inaccurate disclosure of these details can be severe.
Ahead of the Union Budget 2023, insurers are hoping that the Centre will act on their recommendations, which includes increasing the limit for tax deduction under 80D of the Income Tax Act. Also among them are issuance of long-term bonds, tax incentives for home insurance premiums, and a separate section to claim deduction for term-insurance premium, among others. These suggestions would help improve the penetration of insurance in the country.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Despite a shaky Q3, conviction over the stock remained high, with 65 per cent of the analysts polled on Bloomberg retaining their 'buy' recommendation.
Concerned over inflationary pressures in the economy, the Reserve Bank of India (RBI) is bringing down surplus liquidity in the system rapidly. It has fallen to pre-Covid levels and almost 2 per cent of banks' net demand and time liabilities (NDTL). NDTL shows the difference between the sum of demand and time liabilities (deposits) of a bank (with the public or the other bank) and the deposits in the form of assets held by the other bank.
The country's largest software exporter TCS on Wednesday reported a 16.83 per cent jump in its June quarter consolidated net profit to Rs 11,074 crore. The Tata Group company had reported a net profit of Rs 9,478 crore in the year-ago period and Rs 11,392 crore in the preceding quarter. Its revenue from operations increased 12.55 per cent on a year-on-year basis to Rs 59,381 crore and was marginally up from the preceding March quarter's Rs 59,162 crore.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
The methodology will be announced later this week.
'Both IIP and CPI inflation numbers are showing a huge disconnect from the leading indicators.'
Taxpayers seeking to save tax from the sale of gold (including inherited) should reinvest the capital gains in residential property to avail of the benefit provided by Section 54F.
'These people were your darlings, they were being dined and wined in the White House and now you say go to hell Pakistanis'
'A mid-year review makes the end-of-year financial review manageable and less stressful.'
If the property is inherited from one generation to another, the person who inherits it cannot pass it on as s/he wishes, points out Rajesh Narain Gupta, managing partner, SNG & Partners.
'You will see him frequently asking customers -- especially retail -- about service experience, pain points, areas of improvement and suggestions.'
In view of the rising number of mobile and internet banking users, the Reserve Bank of India (RBI) has proposed to tighten norms related to the liquidity coverage ratio (LCR) by increasing the run-off factor for retail deposits. "Banking has undergone rapid transformation in recent years. "While increased usage of technology has facilitated the ability to make instantaneous bank transfers and withdrawals, it has also led to a concomitant increase in risks, requiring proactive management," the RBI said in the draft guidelines released on Thursday.
'Despite rising inflows, many NRIs lack awareness about NRO and NRE accounts and mistakenly use family accounts or invest in a relative's name.' 'Many are unaware of tax implications.'
The liquidity will move into deficit after advance tax payments and GST outflows. It will rebound in October because of government spending.
ICICI Bank share price hits record high, ICICI Bank m-cap tops $100 billion: Shares of ICICI Bank have been on a steady uptrend, rising 30 per cent over the past one year; not far behind Axis Bank stock that surged over 34 per cent during the period. The BSE Sensex, meanwhile, is up 25 per cent, and the BSE BANKEX 22 per cent in the last one year, ACE Equity data shows. On Wednesday, June 26, ICICI Bank shares hit a fresh record high for the third consecutive day, rising 2 per cent on the BSE in the intraday trade.
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