Some of the public banks showed improvement; much more still needs to be done
Bankers on Tuesday said the RBI's decision to hold key rates, coming after a decisive mandate received by the Narendra Modi government, was on expected lines and interest rates won't change even though the central bank's SLR cut infuses additional liquidity into the system.
For financial institutions, it will be an opportunity to provide better lending options. For instance, customers who pay their overdrafts on time will get access to more credit and probably at a cheaper rate.
A few state-owned banks such as IDBI Bank, Union Bank, Indian Overseas Bank have announced results for FY14.
Promising swift action on the debit card data compromise issue, Economic Affairs Secretary Shaktikanta Das on Friday said there was no need to panic over the feared security breach that affected over 32 lakh cards.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Financial shares were the top losers.
A Reuters poll had forecast retail inflation would slow to 8.35 percent from an annual 8.79 percent in January.
Next set of Q4 FY16 earnings, progress of monsoon along with election poll outcome will dictate market trend this week
Tag for defaults on nearly Rs 7,000 cr loans to long-grounded Kingfisher Airlines
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
Many are now cheaper after stock splits. But look at key parameters
According to the RBI's Financial Stability Report, the industry's gross bad-loan is at a 14-year high. As RBI's March 2017 deadline for banks to clean up soured credit looms closer, Shailajanand Mishra takes stock of just how bad the situation is.
Factory output in June likely rose 5.4 per cent from a year earlier, faster than the 4.7 per cent growth in May, according to a poll of 27 economists.
Bankers and government officials told Reuters Rajan's successor may be less aggressive in fighting bad loans, but the general direction will remain the same
RBI is closely monitoring monsoon.
Fresh buying by domestic institutional investors and better-than-expected June quarter results from some blue-chip companies boosted investor sentiment
While its deposits from Iran accounts have come down from a peak of around Rs 25,000 crore to Rs 2,200 crore, it's been offset by the bank receiving almost Rs 24,000 crore in deposits post note ban.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
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2014 made a lot of promises; can the new year deliver?
The S&P BSE Sensex shed 42 points to close at 25,838 and the Nifty50 lost 13 points to end at 7,899.
For the baning sector, 2018 was a 'Year of Exits' - borrowers fled from the country as loans went kaput and many bank CEOs were forced to leave
Investors lost around Rs 1.57 lakh crore in market valuation on Friday.
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After scrapping the selection of six UPA-appointed bank chiefs, the government has now decided to make significant changes to the selection process.
While the latter is being viewed as a greater concern, the former may gain prominence in the next few weeks.
Punjab National Bank is the second largest PSU bank, in which government holding is 58.87 per cent.
As the Jan-Dhan scheme completes a month since its official launch, reports coming in from various parts of the country suggest the stated target of 75 million new accounts will be achieved much before January 26 next year.
The evolving RBI-government relationship, a reversal in the interest rate cycle and return to profitability will dominate bankers' conversation this year, says Tamal Bandyopadhyay.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The high court remained unconvinced by Mallya's claim that he has been a non-resident Indian since 1988 and has lived in England since 1992, a country where he has indefinite leave to remain
'The PCA framework was revised and tightened in April 2017, but there was no discussion in any board meeting. The government does not know the rationale behind revising the framework and how the RBI arrived at it. Similarly, there was no discussion in the board meeting on the revised NPA framework,' said an official.
According to RBI sources, some banks had extended credit to existing borrowers to repay their debt, known as evergreening of loans in banking parlance.
A year has passed since Shashi Kapoor passed into the ages. His movies live on on television, but Shashiji's greatest legacy must remain Mumbai's Prithvi Theatre, where people came to be entertained, informed and, perhaps, also enlightened.
Given that it is only a temporary breather for PSBs, the government now needs to look at the harder options.
The RBI on Friday imposed a fine of Rs 6.5 crore (Rs 65 million) on six public sector banks including IDBI Bank, Dena Bank and Indian Bank, for violation of customer identification or KYC norms and anti-money laundering guidelines.
There is a huge gap in service charges on other factors such as penalty on cheque return.
While PNB did not name the other lenders, Union Bank of India, Allahabad Bank and Axis Bank are said to have offered credit based on letters of undertaking (LOUs) issued by PNB. Foreign bank branches too are under investigation.
Participants are eagerly waiting for the key macrodata -- IIP and CPI numbers due to be released later today.
Government to infuse funds in cash-strapped banks.
Over the past 25 years the MF industry has come a long way. Geographic reach has increased, many more customers have been added, more channels have been opened up and the product basket is full.
