From the 30-share pack, Adani Port, Bharti Airtel, Asian Paints, IndusInd Bank, Bajaj Finserv, Reliance Industries, Infosys, UltraTech Cement, HDFC Bank, HCL Technologies and ICICI Bank were among the laggards. Tata Motors, Axis Bank, Maruti, Larsen & Toubro, ITC and Tata Steel were among the gainers.
Consumer credit may slow down to 20-25 per cent due to rising interest rate and the base effect, ICICI Bank CEO, K V Kamath said on Monday.
The RBI has changed the way it approached supervision in the past. Having seen a couple of collapses in the NBFC sector and the near-collapse of a few banks, it is focusing on regular drills to prevent a fire from breaking out, explains Tamal Bandyopadhyay.
The number of applications has nearly doubled in the home and auto loan segments after the recent reduction in interest rates in these segments.
Reflecting moderation in economic growth, bank credit contracted by about Rs 25,000 crore (Rs 250 billion) in January 2009 compared with the outstanding credit of Rs 11,85,530 crore (Rs 11855.30 billion) around December 2008.
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10 largecaps stocks which stand to gain from the Budget.
'During his stint as prime minister, he got 270 million people out of poverty.' 'This, according to the World Bank, is the fastest compression of poverty anywhere in the world.' Arvind Mayaram, the former finance secretary, recalls his encounters with Dr Manmohan Singh.
Roughly 40% of this projected outlay is expected to go towards emerging industries, including green hydrogen, clean energy, semiconductors, and electric vehicles.
Indian growth in the rest of this fiscal year and next will be propelled by robust domestic consumption as consumer confidence improves, and by investment, including large increases in government capital expenditure, according to the Asian Development Outlook September 2023. "As slowing exports could foment headwinds for the economy, and erratic rainfall patterns are likely to undermine agricultural output, the growth forecast for FY2023 is revised down marginally to 6.3 per cent," ADB said.
'I was in serious depression during the shooting of Jo Jeeta Wohi Sikandar.' 'I realised that this is not the film I wanted to make.' 'Aamir told me we will redo, remove eight key characters and reshoot.' 'He gave me the confidence and told me it was a timeless script.'
We knew it was difficult to get Ishan back from auction due to his skill set: Hardik Pandya
According to the Reserve bank of India data, year-on-year growth for credit card outstandings, or the total balance due to issuers on credit card spends by customers, has plummeted to 1.4 per cent as on May 22, 2009.
The affordable housing segment may be seeing an uptick which is a good sign of consumption momentum. This is the biggest-ticket purchase for middle income and lower income families. The current activity is at least partly driven by a pause in interest rate hikes.
Most members of the Reserve Bank of India's monetary policy committee (MPC) decided to stick to the course on bringing retail inflation to the target of 4 per cent while voting for maintaining status quo in the April review, except external member Jayanth Varma who voted for a 25 bps cut in the repo rate. "I believe that the extant monetary policy setting is well positioned," RBI governor Shaktikanta Das said in the minutes of the policy review, which came out on Friday. "Monetary policy transmission is continuing and inflation expectations of households are also getting further anchored.
Hit by high interest rates, growth in commercial credit offtake from banks by major sectors slowed to 18.9 per cent in July, 2011, from 20 per cent in the same month last year.
The Budget should undertake further reductions in import tariffs and seriously consider an announcement of India's intention to join one or both of the two Asian mega-regional free trade agreements, suggests Shankar Acharya, former chief economic adviser to the Government of India.
'Our production capacity ramp-up initiatives are expected to meet the critical requirements of our armed forces.'
'The dakiyas will be our partners, receiving credit proposals from micro-enterprises at the grassroots level.'
England captain Jos Buttler believes the ongoing tour of India is the perfect preparation for this month's Champions Trophy, given the similarities in conditions with Pakistan, where the event will be held. He also backs veteran batter Joe Root to play a crucial role in both the ODI series against India and the upcoming tournament.
Mitchell Starc said Australia had left the Perth debacle behind by shutting the "outside noise" following their heavy defeat in the series-opener.
This will be the first full-year Budget of the BJP-led National Democratic Alliance government since it came to power for a third consecutive term in July last year.
Group Captain Shubhanshu Shukla Shukla says Wing Commander Rakesh Sharma -- the first Indian to travel to space --has been advising him about the space flight.
Investors should view any bounce-back in bank stocks as an opportunity to exit the pack, analysts suggested, as the worst may not be over yet. The recent quarterly results of HDFC Bank and Axis Bank disappointed the Street, triggering a marketwide selloff by foreign institutional investors, especially in banking counters. While HDFC Bank, which was the anchor for the market correction during the past week, ended 2 per cent higher amid short covering on Wednesday, Axis Bank's shares settled 3 per cent lower.
Credit card spending has hit a record high of Rs 1.4 lakh crore in May, the latest data from Reserver Bank of India showed. The total spending or outstanding dues on credit cards, which remained rang-bound throughout the year in the previous fiscal, have been rising by 5 per cent month on month this year. Similarly, the number of cards in use has also jumped by more than 5 million since January and crossed 87.4 million in the reporting month, making this also an all-time high in May, according to the RBI data.
'.. if you do not want to take the asset allocation call.'' 'This category of funds can offer optimum risk-adjusted returns.'
'The stabilisation of interest rates followed by reduction is going to happen over the next year.'
The asset quality of microfinance portfolios worsened in the quarter ending June 2024 due to the impact of heatwaves on borrowers' incomes and collections, coupled with rumours of loan waivers, according to Sa-Dhan. Jiji Mammen, executive director and chief executive officer of Sa-Dhan, said loans with 90+ days past due (dpd) rose to 1.2 per cent in June 2024, compared to 0.9 per cent in June 2023. The 90+ dpd also increased from 1.16 per cent in March 2024.
Loans, cash credits, and overdrafts at the end of December 22, 2017, stood at Rs 81,287.32 billion, against Rs 73,340 billion in the year-ago period.
While rising interest rates and tighter liquidity are giving negative signals for the financial sector, increasing economic activity could mean higher business volumes for lenders. Liquidity in the banking system has moved from Rs 8 trillion surplus into a deficit of Rs 33,000 crore over the 2022 calendar year. By the end of November, bank credit had grown 17.5 per cent YoY (year-on-year).
At a time when the government is nudging the private sector to ramp up its capital expenditure (capex), the Ministry of Statistics and Programme Implementation (MoSPI) is poised to kick-start the first-of-its-kind annual survey on the status of private sector capex from next month. "The inaugural edition of the annual exercise will start in October and will be completed by December. "The results will be made public by February next year," said Geeta Singh Rathore, director general, National Sample Survey Office (NSSO), at a data users' conference on Thursday.
'We have a plan to plough back a 'This year in the first half we had profits of more than Rs 31,000 crore.' significant amount of profits this financial year.' 'We have seen this organic plough back of profit is one of best ways to support the equity of the bank.'
Bankers, who met the Reserve Bank of India Governor D Subbarao on Monday, two weeks before the annual monetary policy scheduled for April 20, said none of them was presently contemplating hike in lending rates given the 'reasonable' liquidity in the system.
'In addition, we have geopolitics and politics and all the other things that will affect commodity prices.'
The narrative on China is changing post the recent stimulus measures, and it will be hard for global investors to ignore the Chinese markets.
'We are confident that over the next few years the government will strike a fine balance between populist measures and growth, and manage coalition partners well.'
Should deposit growth continue to outpace credit growth, banks may end up ceding some hard-earned 25-50 bps improvement in profitability or net interest margin gained in the past two years.
These core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production.
Treasury gains helped ICICI Bank post a nearly 10 per cent increase in the consolidated net profit for the April-June quarter at Rs 11,696 crore on Saturday. Growth in the core income slowed for the country's second largest private sector lender, but the treasury operations helped it report a 14.62 per cent rise in its post-tax profit at Rs 11,059 crore on a standalone basis. The core net interest income (NII) growth came at a multi quarter low of 7.3 per cent to Rs 19,553 crore for the reporting quarter.
Alternative investment funds (AIFs) - investment vehicles favoured by the affluent - have topped $50 billion (Rs 4.3 trillion) in total investments for the first time during the April-June quarter, according to the latest data from the Securities and Exchange Board of India. The industry's commitments have approached Rs 12 trillion ($140 billion), marking a 40 per cent increase over the past year. The amount raised and deployed stood at Rs 4.74 trillion ($56 billion) and Rs 4.32 trillion ($51 billion), respectively, the data shows.
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