The biggest headwind to the consumption story in FY23 is a sharp decline in government subsidies on food, fertiliser and fuel, and overall decline in revenue expenditure net of interest payments. This, analysts say, will adversely impact purchasing power of households at the lower end of the income pyramid, translating into lower spending on consumer goods and services.
Fit-again India all-rounder Hardik Pandya is attempting to make his comeback by taking part in the D Y Patil T20 tournament, starting in Mumbai, on Monday. Shikhar Dhawan and Bhuvneshwar Kumar are also on their road to recovery after sustaining injuries.
As a young management trainee with SAIL, Pallav Mohapatra was spoilt for choice. He had offers from Allahabad Bank, Bank of Baroda, Indian Bank, Indian Overseas Bank and State Bank of India. He chose SBI only because the bank offered him a posting in Lucknow.
Only BoB is making noise about customers and customer service
The IPO is an offer for sale of 38 million shares by SBI, BOB, LIC, PNB and T Rowe Price. Barring T Rowe and PNB, the others are selling stake to comply with Sebi norms.
'This is for the first time home loan rates have dropped below 7 per cent,' notes Tamal Bandyopadhyay.
Kamalesh Chandra Chakrabarty has joined Punjab National Bank as its executive director and K Ramakrishnan has taken over as executive director of Bank of Baroda.
The S&P BSE 500 index, which accounts for 94% market capitalisation of BSE listed companies, has gained 45% from its March 24 low. However, out of the BSE 500 index stocks, 225 have underperformed the index by gaining less than the broader index during this period.
Among PSBs, the top gainers have been Union Bank of India and Corporation Bank, whose shares have rallied more than 15% each. Indian Bank and Bank of Baroda, too, registered double-digit rise
The S&P BSE Midcap and the S&P BSE Smallcap indices under-performed to lose 0.8% and 1.6%
Standard Chartered cuts base rate by 0.25%
Hardik suffered an acute lower back injury five months ago and underwent a surgery in London, following which he has been rehabilitating at the National Cricket Academy in Bengaluru. Hardik Pandya hit four towering sixes and ran swiftly between the wickets at the DY Patil T20 Cup as chief selector MSK Prasad closely monitored his fitness.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
AIBOC in a letter to the Prime Minister, has said the government should not expect the banking fraternity to "join the political campaign of #MainBhiChowkidar" unless issues related to merger of banks, salary revision and staff recruitment, among others, are addressed.
Interest rate and tenure are not the only two factors to consider.
Green signal from Jaitley; CVC okays Hemant Contractor for head of PFRDA
Rating agencies on Wednesday warned against more exposure to debt-ridden Kingfisher Airlines, saying more debt may hit banks' credit profiles and add to the burden of provisions.
Emerging markets such as India have always run higher inflation rates than developed economies such as the US and countries of Western Europe. But for the first time in the past 30 years, the US reported a higher consumer price inflation (CPI) rate than India in five consecutive months. The US reported a CPI rate of 7.5 per cent in January 2022 against 6.01 per cent in India and analysts expect the trend to continue for at least a few months more
"We remain positive on the outlook for the emerging market (EM) equities. Although this asset class is entering its sixth year of outperformance compared with the world equities, valuations are not yet expensive on a historic and relative basis, especially in the light of a much higher growth potential at the earnings level," says Angus Stening.
Rating agency Fitch on upgraded outlook of 10 financial institutionals, including SBI, ICICI Bank and EXIM Bank of India to 'stable' from 'negative' earlier following revision in the country's outlook.
The bank manager clarified to him that the currency was genuine and there might have been a printing error.
Bank of Baroda is slated to change its logo on June 6 as part of its brand implementation road map, a move that may require the profit making bank to spend about Rs 600 crore (Rs 6 billion).
The court ruled that an interim debt order in favour of SBI and other banks seeking access to funds in the Mallya's ICICI UK bank account "should remain in force" but the application to make it final should be adjourned until after the hearing of his pending bankruptcy petition.
'...Rs 137 lakh crores of people's money?' 'It is not the government's money, it is people's money.'
Sensex falls 117.03 pts to end at 28,883.11; Nifty closes 32.85 pts down at 8,723.70.
Vikram Kothari's Rotomac stares at a loan default of Rs 369 crore
After private banks, it is now the turn of large public sector banks to raise interest rates on non-resident (external) rupee (NRE) deposits after the central bank lifted the cap on rates for these deposits.
In a ruling in May, a UK high court judge had refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that the consortium of 13 Indian banks were entitled to recover funds amounting to nearly 1.145 billion pounds.
Bank of Baroda will complete 50 years of operations in African nations, Kenya and Uganda, in December, even as it plans to foray into China and Malaysia.
SBI keeps IDBI waiting for proposal to set up infra development fund
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
In the past few months, 45 companies have signalled their intent to raise money through the institutional placement route.
In his first monetary policy review since taking office on September 4, RBI Governor Raghuram Rajan increased the repo rate by 25 basis points to 7.50 per cent.
'If the new rate is lower than your current rate, ask your bank to shift you to it.' 'This can be done by paying a fee of Rs 5,000 to Rs 6,000.'
Tata Sons stake in the group's listed companies is now worth Rs 9.28 trillion, up 34.4 per cent on a year-on-year (YoY) basis. In comparison, the Government of India's stake in listed central public sector undertakings (PSUs) is currently valued at Rs 9.24 trillion
Upgradation to the new product (from Infosys) will stabilise by this month-end
