AIBEA said that on April 19 its officer bearers would meet in Punjab to decide the next course of action.
A senior official with Muthoot Finance said the group would also want to apply for a universal licence.
The central bank gave 11 entities licences to start payments banks.
'Kindly advise about the following stocks. Can I hold or exit?'
Around 75 per cent, or 372 stocks, that are part of the BSE500 are trading at least 10 per cent below their all-time high levels, despite the index hitting a record high 20,515 points on the BSE in intra-day trade on Wednesday, surpassing its previous high of 20,390 touched in March 12. The index, which accounts for 93 per cent of BSE listed companies' market capitalisation, has gained 8 per cent from its recent low of 18,983, touched on April 19. In comparison, the benchmark S&P BSE Sensex gained 6 per cent over the same period, but is still nearly 4.5 per cent away from its all-time high of 52,517 that it hit on February 16.
Debt fund managers are reassessing their strategies after the setback delivered by the Reserve Bank of India recently. While most are refraining from any knee-jerk reaction to the central bank's surprise open market operation (OMO) announcements, they are taking a re-look at the duration of their schemes. Sandeep Yadav, head of fixed income at DSP Mutual Fund, said it has trimmed the duration of some schemes, considering the hawkish stance by the RBI.
A PhD from Chicago-Booth and a top-ranking IIT-IIM alumnus, Krishnamurthy Subramanian is one of the world's leading experts in banking, corporate governance and economic policy
Fund managers are withdrawing after a two-year long run in public sector bank (PSB) stocks. Domestic mutual funds (MFs) were net sellers of PSB stocks for the first time in nine quarters, offloading shares worth Rs 1,800 crore in the March quarter, said a report by ICICI Securities. In the previous eight quarters, fund houses had invested more than Rs 10,000 in PSBs amid deep discounts in valuation vis--vis their private sector peers.
Besides, two new entities-- IDFC and Bandhan -- have been given full-fledged banking licence.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Two key depts in ministry cold to rationale for one; postal dept says it's more eligible than IDFC or Bandhan, feels 'strong lobby' scuttling its plans.
rediffGURU Ulhas Joshi answers your mutual fund queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
After a short-term blip, mutual funds (MFs) are back to adding new systematic investment plan (SIP) investors at a record high pace, which was seen during the financial year 2021-22 (FY22). During the first six months (H1) of this financial year (FY24), MFs have added a net 77 million SIP accounts compared to 56 million during the same period of FY23. The net additions this year are a tad higher than the 76.5 million additions in H1 of FY22.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The amount you can raise via a gold loan is higher than you can get via a personal loan.
Chouhan's fate will be determined by the BJP central command's assessment of the implications of such a move ahead of the Lok Sabha elections.
The government on Tuesday announced a Rs 200 per cylinder cut in prices of domestic cooking gas as it looked to counter the cheaper LPG promise of the Congress in upcoming assembly elections in states like Madhya Pradesh.
Issuance of new bank licences proves that the apex bank wants the financial sector to flourish.
Financial inclusion has been on the top of the govt's top agenda.
There's a long way to go before human beings are replaced by machines -- in banks at least.
Market-linked products have been driving the growth of private insurers for some time now. But, the market volatility has forced the companies to re-think their strategies, reports Subrata Panda.
The third-quarter financials didn't excite market watchers. But equity investors can still make money if they invest in the right stocks.
Reserve Bank Governor Raghuram Rajan on Friday said banking sector will see major changes in the coming years.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The Reserve Bank on Friday set up a three-member committee under former Governor Bimal Jalan to scrutinise applications for new bank licences, which are expected to be awarded by January.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
'Banks will continue to increase FD rates to attract more deposits and meet the increasing demand for credit.'
India's mutual fund (MF) industry had barely any retail footprint when it completed 50 years in 2013. MFs had Rs 7 trillion in assets under management (AUM) in March 2013, of which around Rs 5 trillion was in institution-focused debt funds. By comparison, bank deposits in the country stood at Rs 67.5 trillion around the same time.
Since last month, the realty (down 23%), auto (down 16%) and finance (down 14%) indices have underperformed the market by falling over 13%, as against 8% decline in the benchmark indices
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SBI will hold 30 per cent in RIL joint venture
The RBI has agreed to consider the application of India Post in consultation with the government.
The Covid winter seems to be finally ending for debt-oriented mutual fund (MF) schemes as interest rates peak, especially for those that invest in shorter-maturity papers. In the past two months, shorter-horizon debt schemes - ultra-short, low-duration, and money-market - have together raked in net inflows of Rs 48,000 crore, the highest for two months since April-May 2021. These schemes invest in shorter-maturity papers ranging from three months to a year.
India Post had applied for a bank licence under RBI guidelines issued on February 22, 2013.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The central bank tweaked the retail inflation range to 4.8-4.9 per cent in the first half of 2018-19, and 4.7 per cent in the second half.
Time opportune, with market buoyancy and entry of new entities
'Should the government be in the business of running banks?' 'Particularly when it does not have the fiscal strength to continuously infuse capital into such banks?'
Actor-turned-politician and sitting MP Locket Chatterjee has been fielded from Chunchura and another MP Nishit Parmanik from Dinhata. Also, a number of film personalities have been nominated as candidates in the high-stakes battle for West Bengal.
