Nearly 96 per cent of new applicants will benefit from this simplified approval route.
Banks have issued Rs 7.78 trillion worth of CDs in the current calendar year until August 2024, compared to Rs 4.9 trillion in the same period of 2023, registering a 59 per cent growth
The crisis may not be as visible this time, but the stakes are just as high, points out Rajeswari Sengupta.
Bank deposits grew by 17 per cent in the year to February 11, indicating an improved liquidity scenario for banks on the back of increased deposit rates. Loan off-take also remained robust, growing by 24 per cent on-year.
Indian all-rounder Deepti Sharma was crowned Player of the Tournament in India's maiden ICC Women's World Cup triumph, says she still cannot believe she bowled the title-winning delivery.
Rana said she had made a "note" on September 27 where she had drawn the World Cup and inscribed that India wold win the trophy this time around.
Equity benchmarks face a key test as investors weigh consumption revival hopes against tariff pressures and weak earnings. Amidst this, HSBC has outlined tailwinds and risks that could cap gains.
Here's unlocking the real story behind your EPF's 8.25% interest and what it truly means for your retirement kitty.
The GenZ violence that engulfed Nepal is not only against nepo-babies -- its anger is broader and riddled with contradictions, making it difficult for interim PM Sushila Karki, points out Aditi Phadnis.
'Reinvention is not a hugely difficult task. With technology as available today, you can reinvent yourself pretty quickly.'
'They are totally disconnected with farm activities which their families have been involved in for years.'
Net profit of 19 listed banks is likely to decline by 4 per cent year-on-year (Y-o-Y) for the quarter ended March (Q4FY25) mainly due to pressure on net interest margins (NIM) as a result of rate cut by the Reserve Bank of India (RBI), according to analysts' estimates. Additionally, loan growth is expected to further slowdown amid low demand in certain secured products, stress in the unsecured segment, and a high cost to deposit (CD) ratio across the system.
Fitch Ratings on Monday said India's steady GDP growth outlook, improved banking sector's financial health and expected interest-rate cuts in 2025 will support credit access for corporates in FY26.
With the price of gold entering a strong bull run, gold-loan non-banking financial companies (NBFCs) are under the spotlight, even though their performance is not directly linked to gold price. Muthoot Finance outperformed in the April-June quarter (Q1) of 2025-26 (FY26), with its assets under management (AUM) growing 10 per cent quarter-on-quarter (Q-o-Q) and 42 per cent year-on-year (Y-o-Y), an improvement of 88 basis points (bps) Q-o-Q in net interest margin (NIM), and a fall in credit cost. Gold AUM rose 40 per cent Y-o-Y and 10 per cent Q-o-Q. The company recorded recoveries of 350 crore, including 100 crore from an asset reconstruction company (ARC), resulting in a 100-bp Q-o-Q yield increase.
'Bank has enabling provision to raise capital up to Rs 7,500 crore over a longer period of time.'
Fitch Ratings on Monday affirmed India's sovereign rating at 'BBB-', with a stable outlook, saying a strong record of delivering growth and improving fiscal credibility will drive improvements in structural metrics. "India's ratings are supported by its robust growth and solid external finances," Fitch said, as it forecast GDP growth of 6.5 per cent in the fiscal year ending March 2026 (FY26), unchanged from FY25, and well above the 'BBB' median of 2.5 per cent.
'A possible post-election growth momentum may be lost.'
The softer interest rate regime and boom in housing, retail and infrastructure sectors boosted credit of banks by Rs 1,19,684 crore (Rs 1,196.84 billion) last fiscal.
The ideal time to invest in sector funds, is during a downturn so that investors can capitalise on a turnaround in 1.5 to 2 years.
Sri Lanka stays with you not just in memory, but gently reminds you what a society can achieve when heart and heritage guide the way.
Country's largest lender State Bank of India (SBI) is looking to be among 10 top global banks in market capitalisation terms in the next five years, chairman CS Setty said on Wednesday. "The scope for value creation for the stakeholders is potentially very high. So the larger ambition is if the market supports whether we can be part of the top 10 global banks in terms of the market capitalisation (five years)," he said after listing of shares issued under Qualified Institutional Placement (QIP) at NSE.
The gold loan portfolio of banks continued to show strong off-take with 76 per cent year-on-year (Y-o-Y) growth in January 2025 amid moderation in retail credit - especially in the unsecured credit segment - following increase in risk weights in November 2023. The gold loan pool had grown 17.4 per cent Y-o-Y in January 2024.
Use these loans to meet emergency needs, and not to fund holidays or luxury purchases.
India's corporate bond market, driven by public sector undertaking (PSU) banks and financial institutions last year, is losing momentum since the second quarter of FY26.
The next generation GST reforms would 'absolutely' set an economy open and transparent with further reduction in compliance burden and benefiting small businesses, Union Finance Minister Nirmala Sitharaman said on Tuesday.
New lower GST rates kicked in from Monday, resulting in a slashing of prices of as many as 375 items ranging from toothpaste and shampoo to cars and television sets, a move seen as an attempt to boost consumption to cushion an economy facing tariff headwinds. Tax rates of 5, 12, 18, and 28 per cent have been clubbed into two rates of 5 per cent and 18 per cent, resulting in a reduced price of 99 per cent of daily use items.
The Reserve Bank of India's (RBI) Monetary Policy Committee's (MPC) decision to cut the repo rate by 50 basis points (bps) to 5.5% was contrary to the expectations of many economists. Firstly, most of the economists expected the MPC to cut the repo rate by 25 bps citing the weakening of inflation, prospects of economic growth, geopolitical uncertainty and comfortable system liquidity.
The Congress party has criticized Prime Minister Narendra Modi's handling of GST reforms, calling them inadequate and demanding an apology for the tax imposed on essential items. They argue that the reforms are merely a 'band-aid' solution and that the government should address the states' demand for extended compensation.
Credit card spending reached Rs 2 trillion in October, a 14.5 per cent rise from September, largely driven by festival season purchases. However, the volume of outstanding credit cards increased only marginally during the same period. The spike in spending comes at a time when nearly all major credit card issuers are calibrating their growth in the segment due to visible signs of stress.
'Raising the entire amount in one go may not be prudent, given the market dynamics.'
The Reserve Bank of India's recent decision that require banks and non-bank financial institutions to allocate more capital against unsecured consumer credit will constrain loan growth in the segment, according to a report. This should also reduce the potential for the rising appetite for such lending to weaken financial system stability, a report by Fitch Ratings said on Thursday. "We generally view the tightening as a credit-positive effort by authorities to control emergent systemic risks posed by consumer credit, which has increased rapidly in recent years off a relatively low base," it said.
Some of the leading life insurance companies have reported a sharp decline in the number of lives covered in FY25, largely due to a slowdown in credit-linked life insurance policies. Stress in the microfinance segment has reduced loan disbursements and, in turn, the flow of new customers to insurers.
Several executives argue that UPI has the potential to grow tenfold, but warn that the absence of a monetisation model risks stagnating the real-time payments system, which has been recording all-time-high transaction volumes every year.
'In the real world, it's not about being the smartest person in the room -- it's about being the one who stays grounded, adaptable and emotionally steady when everything else shakes,' says Ankita Kaul, a National Board certified health and wellness coach from the Dr Sears Wellness Institute.
Banks recorded a higher growth year-on-year (Y-o-Y) in raising deposits during the second quarter of financial year 2025 (Q2FY25) compared to Q1FY25, owing to intensified efforts to raise liabilities by offering higher rates and innovative schemes.
Union Commerce and Industry Minister Piyush Goyal on Thursday described the reduction in GST rates as "game-changing" and the "biggest reform" since independence, as he asked the industry to pass on the full benefit to consumers.
The credit demand in the country has remained unaffected by stable interest rates and the economy showing signs of revival.According to the latest data released by the Reserve Bank of India on Wednesday evening, bank credit flow during the fortnight ended August 28, 2009, was estimated at Rs 5,612 crore. In the previous fortnight, bank credit had shrunk by Rs 5,000 crore.
Tamil Nadu Industries Minister TRB Rajaa claims Uttar Pradesh's development is funded by Tamil Nadu's tax contributions to the central government, sparking a political debate over regional economic disparities.
Maharashtra has topped the list of states with the most favourable ecosystem for the growth of Farmer Producer Organisations (FPOs), replacing Madhya Pradesh, which has slipped to second place, according to the latest Ease of Doing Business for FPOs (EoDBF) ranking.
Since items in the 12% category account for only about 5% of total GST, the additional boost to consumption may not be significant, points out M Govinda Rao.
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