Gaurav Deepak has raised funds for about 100 new-age entrepreneurs.
The festive season starts from August and last till December.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
Bankers said on Friday interest rates are likely to be stable in the short term as the liquidity position in the country is comfortable. "Interest rates look stable for the time being... at least till April," O P Bhatt, chairman of State Bank of India, told reporters on the sidelines of Finance Minister P Chidambaram's meeting with bankers in New Delhi.
The Reserve Bank might hike the Cash Reserve Ratio (statutory cash balances banks maintain with the apex bank) by 0.50% in its credit policy if inflation remains high, feel Indian bankers. The RBI is scheduled to announce annual credit policy for fiscal 2008-09 on April 29. RBI is likely to tighten money supply in its forthcoming annual credit policy to suck out excess liquidity from the system. Growth has moderated in recent months.
Bankers on Wednesday told the Reserve Bank of India that it will be difficult to make significant cuts in lending rates for about six months - the time required by them to shed high-cost deposits.
Home, consumer, corporate and personal loans are likely to become cheaper with the Reserve Bank cutting its key short-term repo rate by 1 per cent to 8 per cent, the first since 2004, bankers said. After slashing the cash reserve ratio by 2.5 per cent from 9 to 6.5 per cent with effect from October 11, the Reserve Bank cut the repo rate on Monday, which is the rate at which banks borrow from the apex bank.
Unlike any other national asset, which is typically sold to the highest bidder, the profile of the bidder is the most important criterion for a licence to bank, and even for acquiring more than 5 per cent stake, explains Tamal Bandyopadhyay.
'It seems to be a bit of an aberration. It should be set right; there is a proper mechanism in place. In the normal course, the state police do not have any jurisdiction on central government employees,' the official said.
If indeed the gate opens for big industrial houses, the RBI needs to be smarter than them and demonstrate it through action, not reaction, observes Tamal Bandyopadhyay.
The benchmark Nifty and Sensex could see another 8-10 per cent from the current levels, said HDFC Securities in its outlook for equity markets in 2024. The brokerage said that the market movement in the next year will not be linear, and there will be more volatility. When asked about the market reaction to the General Elections in 2024, Dhiraj Relli, managing director and CEO of HDFC Securities, said more than the outcome of the elections, the market movement in the next three to four months will decide the market trajectory post elections.
Bankers believe rates will remain high in near future.
Under Sharma Axis Bank has also taken the lead in focusing on technology, which has now become core to almost every other lender's strategy.
Of the six-member rate-setting monetary policy committee, five members voted for a 25 bps cut while one by 40 bps, the RBI said.
The central bank has not set a deadline for banks to conclude the stress-test exercise, but senior bankers opine that some were already looking at this, and will now fast-track it by September-end, when they will have a better picture of their books after the moratorium on the servicing of loans and a 180-day view on the performance of borrowers' accounts.
'She was either overconfident that nothing will happen to her or she underestimated the gravity of the allegations.'
It is up to the bank management to decide which application gets to interact with the CBS
The working group members have been selected from the board of trade, which met here under the chairmanship of Commerce and Industry Minister Anand Sharma.
Advice to the new finance minister from former RBI governor Raghuram Rajan: 1. Clean up banks by reviving projects that can be revived after restructuring debt. 2. Improve governance and management at public sector banks. 3. De-risk banking by encouraging risk transfers to non-banks and the market. 4. Reduce the number and weight of government mandates for public sector banks, and for banks more generally.
Kingfisher lenders will soon decide on future course of action with regard to the grounded airline as they do not want the company to close down, State Bank of India (SBI) said.
The Softbank-backed company has set a price band of Rs 72 to Rs 76 per share for the maiden share sale and is expected to test the appetite for new-age loss-making companies.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
In the new decade, the scene will change because the banks till recently had been challenged by the fintechs, but the techfins have now entered the arena, observes Tamal Bandyopadhyay.
The shift to a shorter T+3 settlement cycle for initial public offerings (IPOs) will be a big test of the domestic market structure, requiring players in the ecosystem to work harder to meet the squeezed timelines, according to industry insiders. The Securities and Exchange Board of India (Sebi), has announced that the transition to the T+3 cycle will be voluntary starting next month and mandatory from December 1. The new mechanism will necessitate quicker confirmations from banks and speedy verification of permanent account numbers (PANs) for all applicants.
The Reserve Bank of India's (RBI's) decision to withdraw the incremental cash reserve ratio (I-CRR) is expected to benefit banks during the festival season. They are likely to increase deposit rates by up to 25 basis points (bps) in select maturity buckets. The rise in demand for funds to cover tax payments and meet quarter-end business targets could influence rate decisions by banks, according to bankers and money market executives.
V Vaidyanathan -- managing director and CEO of IDFC First Bank -- is considered one of India's most astute bankers. But who know he was such a good singer?
Want to appoint CFO, advisory board and governance committee.
The initial public offerings (IPOs) by small and medium enterprises (SMEs) hit a new high in 2023-2024 (FY24). In this financial year, data from the Prime Database showed that 190 companies raised Rs 5,579 crore through the SME IPO route. This financial year's tally bettered the fundraising in the previous financial year when 125 companies raised Rs 2,235 crore.
The finance ministry wants the Reserve Bank of India (RBI) to switch its policy stance, with growth concerns occupying centre stage and inflation showing signs of moderating.
Sebi takes 6 merchant bankers to task for lapses in IPO
It may be a 'no-go' for banking licences to large industrial houses.
Investment bankers generally laugh all the way to the bank once shares get listed on the bourses, but they may have to hang around a bit longer. The Securities and Exchange Board of India (Sebi) is planning to make the bankers managing an issue responsible for the end-use of issue proceeds.
Last month, RBI slashed cash reserve ratio -- the percentage of deposits that banks have to keep with the RBI -- from 5.5 per cent to 4.75 per cent. With this, the central bank had infused Rs 48,000 crore (Rs 480 billion) into the economy.
State Bank of India hinted at lowering lending rates to retail customers.
NTPC was to open letter of credit in favour of RIL for an amount equivalent to a month's supplies.
The government has set a growth target of 20 per cent for banks both in the credit and deposit segments in the current fiscal.
The heartburn is over six sensitive issues
Reserve Bank Governor Shaktikanta Das on Monday said despite the latest headwinds arising from the Jackson Hole summit leading to extreme volatility, our banking system and financial markets are strong enough to withstand such pressures. Taking the markets by surprise, US Fed chair Jerome Powell had told the annual Jackson Hole summit of central bankers and economists last week that he would have to keep raising federal fund rates to tame inflation, which remains the biggest challenge to the world's largest economy. He also warned of the pains that such monetary policy actions would create on growth and jobs.
Lenders, with Rs 600-cr exposure to telco, want it to sell properties to repay loans.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances