ICICI Bank and HDFC Bank have effected a cut of up to 0.50 per cent in term deposit rates following tepid credit growth and ease in money market rates.
'We are working with a few housing finance companies to drive affordable lending because that's where we believe our sweet spot is.'
Shares of ICICI Bank may outperform those of HDFC Bank in the near-term, analysts said recently, after the Sandeep Bakhshi-led private sector lender reported a strong set of numbers for the July to September quarter (Q2) of financial year 2023-24 (FY24). The result, they said, reiterated that ICICI Bank is maintaining a sustainable and prudent growth led by tech-driven initiatives as against HDFC Bank, which is facing merger related challenges. According to analysts at Prabhudas Lilladher, ICICI Bank is valued at par with HDFC Bank at 2.2x/1.9x on FY25/26E core adjusted book value (ABV) basis.
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
Investors' wealth grew by Rs 3.24 lakh crore on Thursday as the BSE Sensex jumped nearly 1 per cent after a two-day slide. The 30-share BSE Sensex jumped 490.97 points or 0.69 per cent to settle at 71,847.57. During the day, it rallied 598.19 points or 0.83 per cent to 71,954.79.
Credit cards are no angel or devil. Spending habits and personal finance management make it what it appears to be. Let there be no illusion, think real, be wise.
The National Payments Corporation of India on Thursday granted approval to Paytm-owner One97 Communications Ltd to participate in UPI as a Third-Party Application Provider (TPAP) under the multi-bank model. Axis Bank, HDFC Bank, State Bank of India, and YES Bank will act as Payment System Provider (PSP) banks to Paytm.
If you use customised cards that suit your lifestyle needs, you could also end up availing of a variety of deals, rewards, and discounts.
We asked readers to send their useful ideas and advice on how one can get out of credit card debt. Here are the first four useful suggestions and tips.
Education finance is a complex and dynamic sector. There are too many variables -- the course, the calibre of students, the universities, and the job prospects once the course is over, notes Tamal Bandyopadhyay.
Let the festivities and celebrations begin; get yourself a credit card this Onam. Shop with it, earn reward points, make your family happy but remember to never go overboard or miss your payments, says Rajiv Raj
Here's why VCCs are the best options for credit and debit card holders for avoiding phishing and frauds
'Look not just at the interest rate but also the processing fee.'
Top ten banks of the world includes 4 from the USA, 4 from China and one each from the UK and Australia
Having cleaned up their credit card portfolios and sensing a change in the economic environment, issuers such as SBI Cards, Standard Chartered and HSBC are seeing an increase in their credit card base at a marginal pace.
Analysts had on average forecast a net profit of 23.21 billion rupees, according to Thomson Reuters data.
'They have since only tried to improve systems. Also, with regulatory guidance from time to time, we are in a position to assess a situation and react in time.'
Debit card payments remained sluggish due to the surge in digital transactions after the pandemic, and the Unified Payments Interface (UPI) has emerged as the most popular mode of money transfer, particularly for small value transactions, according to RBI data. In July 2020, the total debit card spends stood at Rs 2.81 trillion, as compared to Rs 3.15 trillion in July 2023, reflecting a growth of 11.96 per cent. UPI spends have seen a whopping growth of 428 per cent, zooming from Rs 2.90 trillion to Rs 15.33 trillion during the same period, the data revealed.
Here are some very important credit gyaan you wish you had got from your parents
Read on to understand the pros and cons of higher credit limit
Do you know what is 'credit repair'? And how to go about it?
If you want to keep your CIBIL Score alive and kicking (healthy) make sure you steer clear from the above mentioned common credit score killers.
The revenue growth of early birds or companies that have declared their Q4FY24 (March quarter) numbers is the highest in the last four quarters. The 178 companies (excluding their listed subsidiaries) that declared their results have reported a sales growth rate of 13.2 per cent year-on-year (Y-o-Y), taking aggregate revenue to Rs 9.1 trillion. Including other income, growth is at 16 per cent, the highest in the last four quarters.
The idea was that despite some defaults the high rates would assure good profits.
Moody's downgraded local currency bank deposit ratings.
India's economy will see the fastest dollar nominal growth in the world in 2015, Credit Suisse says.
Getting married has no direct bearing on the credit score of either of the spouses. However it does impact the financial situation and may sometimes impact the credit score of any individual indirectly due to the action of the partner.
The overarching talking point will be the reluctance on the part of private banks to loosen their purse strings and increase lending substantially, even as the central bank believes there is adequate liquidity within the system.
India's top 10 banks, including the SBI, ICICI Bank and HDFC Bank suffered a collateral damage following the Standard and Poor's lowering the country's sovereign rating outlook.
Sacrifice these common misconceptions to improve your credit score this Eid
If used without much care credit cards can become debt traps. But there are ways to use them to your advantage, says Rajiv Raj
Six compelling reasons to use your credit card. WARNING: reckless use of plastic can land you in a debt rap
Your credit score is more than just a number. Here's how you can read and understand its importance.
Contactless card transactions can be up to three times faster than cash payments
Contactless card transactions can be up to three times faster than cash payments
