Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
The global turmoil in the banking sector has made analysts cautious, who advise that investors stay away from stocks of this sector till the overall sentiment improves. The recent trouble for the banking sector started with the collapse of US-based Silicon Valley Bank (SVB), Silvergate Capital and Signature Bank. On its part, Moody's Investors Service has also cut its outlook for the US banking system to 'negative' from 'stable', citing the run on deposits at these three banks that led to the collapse of these banking majors in less than a week.
Other reputed firms like McKinsey, Boston Consultancy Group, PwC, Ernst & Young and KPMG had also applied for getting the mandate from Bandhan.
The Indian equity markets will soon account for over a fifth of a key emerging market (EM) benchmark tracked by funds with assets exceeding $500 billion. This development is expected to funnel as much as $3 billion into the domestic markets. Following the latest review undertaken by global index provider MSCI, India's weighting in the MSCI EM index will surpass 20 per cent for the first time, narrowing its gap with the current top-weighted China to fewer than 400 basis points.
With the interest rate cut cycle nearing its end, several debt fund managers are shifting their focus towards interest income rather than betting on duration in anticipation of capital gains.
If the banks throw caution to the winds for building loan books, the hydra-headed bad loans may resurface and spoil the party, warns Tamal Bandyopadhyay.
The RBI added roughly 3 tonnes in 2025, taking its gold reserves to 879 tonnes as of January 31, 2025.
Bandhan Financial Services, which is to start banking operations soon, has received a combined equity commitment of Rs 1,600 crore (Rs 16 billion) from International Finance Corp (IFC) and GIC, Singapore's sovereign wealth fund.
Bandhan has got fresh equity infusion of Rs 1,020 crore.
In any case, Ghosh could take lessons from the best professionally managed companies all over the world that always groom the CEO successors well in advance.
What sets Bandhan apart is the roots it has in the world of the rural poor.
The other board members will be Sunil Mehta, former non-executive chairman of Punjab National Bank, as the non executive chairman of Yes Bank, Mahesh Krishnamurthy and Atul Bheda as non-executive directors.
Kolkata's creme de la creme turned up at the launch of Bandhan, The Making of a Bank, but the evening nevertheless had an informal touch typical of the young bank with CMD Chandra Shekhar Ghosh personally welcoming the dignitaries, reports Indrani Roy/Rediff.com.
Blackstone, KKR, and Bain Capital, among others, are in the race for its general insurance arm, and Bandhan Bank, Bain, and Dabur Investments have shown interest for RCap's 51 per cent stake in the life insurance business.
'Growth for some companies has been hard to come by and this is a smart way to get there.'
/We will stay away from corporate loans,' C S Ghosh, managing director and chief executive officer of Bandhan Bank, tells Namrata Acharya.
Since the RBI is the 'lender of the last resort', as per terms of arrangement, Yes Bank would have to exhaust immediate liquid assets before accessing this fund.
Leading stock exchange NSE has tweaked the constituents of its major indices with Adani Group's two companies -- Adani Wilmar and Adani Power -- all set to make their way into some of the Nifty indices from March 31, 2023. Adani Wilmar will be part of Nifty Next 50 and Nifty 100 indices, while Adani Power will be included in Nifty 500, Nifty 200, Nifty Midcap 100, Nifty Midcap 150, Nifty LargeMidcap 250, and Nifty Midsmallcap 400 indices. All the changes in the indices will be effective from March 31 this year, the exchange said in a late night statement on Friday.
That's the only way to convince those who have money to return to the bank fold, ditching other asset classes, says Tamal Bandyopadhyay.
Soon after the lifting of the 13-day moratorium at 6 pm, some customers took to social media complaining that they were not able to access certain services, including internet and mobile banking.
The index is currently trading at 149 per cent of its historical P/B valuation, surpassing its previous peak of 125 per cent made in 2020-21.
Trading in the equity market this week will be highly influenced by a host of important triggers, with quarterly earnings from IT majors TCS, Wipro, and domestic inflation and IIP data taking the centre stage in dictating the movement in equities, analysts said. Besides, global factors and trading activity of foreign investors will also drive markets. "We are approaching the first quarter earnings season, with HCL Tech, TCS and Wipro set to report their earnings this week.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Debt mutual fund (MF) schemes are set to register the best calendar year (CY) performance in the last four years despite no changes in the interest rate. An analysis of one-year performance of debt funds show that many of the schemes are set to deliver double-digit returns in CY 2024.
The Prime Minister and and President gracing ads for Reliance Jio and Bandhan Bank have put the spotlight on this trend.
'Focus on 19,400/64,900 as the key resistance levels for the Nifty/Sensex.'
Sources say given the complexity involved in the process of creating a holding company, which will ultimately be the parent company of banking and other businesses, banks are going slow in acquiring stakes in insurance arms or mutual funds of other lenders.
A large number of these applicants are already employed in top positions at public- and private-sector banks, say sources at Bandhan.
The TMC-led West Bengal government has already started laying the groundwork for the election, setting the tone with the recent Bengal Global Business Summit and the state Budget.
Start-ups Zomato, PB Fintech, One97 Communications, and FSN E-Commerce Ventures have entered the large-cap category after the latest reclassification exercise by the Association of Mutual funds in India (Amfi). This comes despite stocks such as PB Fintech (Policybazaar) and One 97 Communication (Paytm) trading below their issue price. Others such as Mindtree, SRF, IRCTC, Tata Power, JSW Energy have been moved from mid-cap to large-cap category.
Ramoji Rao lived as the interface between business and politics and was an active participant in both for most of his remarkable life.
Isn't it time to review the 'fit and proper' criteria for banking licence, particularly with reference to individuals applying for it, asks Tamal Bandyopadhyay?
Collectively, the pack of 12 has posted a 50 per cent rise in profits -- Rs 25,685 crore. On a quarter-on-quarter basis (that is, September over June), the rise is 68 per cent. Public sector banks have never had such a stellar performance, explains Tamal Bandyopadhyay.
With the 50 bps rate cut now more banks are expected to reduce their base rate.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The ruling Mahayuti alliance in Maharashtra is heavily banking upon a six to 10 per cent shift in voters -- mostly women -- in its favour to return to power with anywhere between 160 and 170 assembly seats, say four MLAs belonging to Eknath Shinde's Shiv Sena.
What is it about Arohan that puts it in the top league of microfinance institutions in the country?
MMFs invest in fixed-income instruments maturing in less than one year, minimising interest-rate risk.
Axis Bank emerged as the biggest gainer in the Sensex pack, surging 6.62 per cent, followed by SBI at 5.88 per cent.
Unlike any other business, banking is a turf where the captain's role is the most critical. Often a bank is defined by the personality of the CEO who runs it. Both HDFC Bank and Kotak Mahindra Bank are the creation of their CEOs, notes Tamal Bandyopadhyay.
