LIC is also working on a new model to scan loan applications.
India's economic image is not affected due to Adani Group's recent decision to pull out Rs 20,000 crore FPO (follow-on public offers) amid allegations of financial wrongdoings, Finance Minister Nirmala Sitharaman said on Saturday.
ONGC was the top performer while private banking major ICICI Bank extended gains
Maharashtra deputy Chief Minister Devendra Fadnavis, who also holds the energy portfolio, held a meeting with trade union representatives and later said the government had no intention to privatise state-run power utilities.
Housing Development Finance Corporation has posted a 22.08 per cent rise in its second quarter net profit at Rs 248.13 crore (Rs 2.48 billion) as against Rs 203.24 crore (Rs 2.03 billion) in July-September 2003.
According to the third batch of supplementary demands for grants tabled in the Lok Sabha, approval is being sought for gross additional expenditure of over Rs 1.58 lakh crore.
Having successfully executed the merger with parent HDFC, HDFC Bank's managing director and chief executive Sashidhar Jagdishan on Saturday said the country's largest lender aims to double every four years. In a letter to the over 4,000 employees from HDFC who joined the bank's rolls on Saturday, Jagdishan said the future is bright, and the work on realising the potential of the merger starts now. "The runway for financial services and mortgage, which are so underserved and under penetrated, is going to be very large. HDFC Bank - the combined entity - with a large and growing distribution and customer franchise, more than adequate capital, healthy asset quality and profitability, will be best positioned to capture growth.
NBFCs are mainly dependent on funding their operation from their own cash flows.
Banks get bonds boost to raise funds for core sector; up to Rs 50 lakh of home loans in metros and Rs 40 lakh in other cities not to have CRR, SLR requirements
He also pointed out that the home ministry was neither consulted, nor did it give the necessary security clearance
Though Housing and Urban Development Corporation (Hudco) would begin issuing tax-free bonds on the same date as Indian Railways Finance Corporation (IRFC), it would offer a higher coupon rate. Both the infrastructure finance companies are slated to issue bonds from January 27.
The coupon rates are higher than those offered by IRFC.
At a time Life Insurance Corporation (LIC) is under the scanner due to the alleged bribe-for-loan scam at its housing finance arm, the mutual fund company of the corporation has been continuously losing business. Its assets have dipped substantially this year. As the mutual fund industry faces redemption pressure, LIC Mutual Fund, a state-owned fund house, has performed worse than the industry so far in the current financial year.
HDFC, the pioneer, ICICI, the game-changer, and SBI, the original teaser, turned the market on its head.
An analysis of buy and sell transactions by mutual funds during May shows that the fund houses purchased stocks from sectors like power, software, housing finance and sugar, while offloading shares from banking, refineries and airlines. According to brokerage firm Sharekhan, state-run NTPC, ONGC, TCS, Essar Oil and Reliance Petroleum figure among the favourite picks by the equity funds in the month of May.
LVB had faced some serious flak in terms of bad loans, earnings and credit rating downgrades, since 2016.
PE firm True North's investment model is to take 51% stake in mid-sized companies and make them large, says Niraj Bhatt.
The auditors also said that the company is in the process of monetising its assets and has submitted a draft resolution plan to the consortium of bankers for restructuring its borrowings and also there have been discussions for stake sale by the promoters to a strategic partner with further equity infusion.
'Returns can be very variable in equity markets.' 'That is why I tell small investors don't put 100 per cent of your money in equities, even if you are young.'
Within a week of the CBI arresting senior bankers in the housing finance racket, the competition watchdog CCI on Monday said 11 real estate companies are already under its scanner.
The government of India holds 24.5 per cent stake in GSTN while states together hold another 24.5 per cent
While the collapse of a large financial intermediary can wreak havoc on the system because of the interconnectivity, a large business conglomerate too can play spoilsport if the banks have too much exposure to the entity, explains Tamal Bandyopadhyay.
Many developers are facing financial challenges after the IL&FS defaults, after which non-banking finance companies - the major financiers to real estate firms - slowed disbursals.
'Kindly advise about the following stocks. Can I hold or exit?'
Is a short tenure (3 to 5 years) floating rate car loan a feasible option?
'The fact that housing units worth a whopping Rs 4.5 lakh crore in top seven cities are stuck under various stages of non-completion indicates that there is a dire need to create stress-asset fund which will help bail out lakhs of distressed homebuyers,' says Anuj Puri, Chairman, Anarock Property Consultants, a real estate services company.
'The solution is to enable a graceful transfer of the deposit and funding 'franchise' from capital-deficient firms to capital-surplus firms.' 'This will expand credit intermediation, bring down its costs, and put the financial sector on a definite path of recovery,' argues former RBI deputy governor Viral Acharya.
While some states have kicked in their heat action plans, experts feel this is not enough to tackle the current extreme weather.
If Cyrus's protestations of having no knowledge of his imminent dismissal are to be taken at face value, he was extraordinarily naive and insulated from the ground reality. There were enough straws in the wind to suggest that his relations with Ratan were fast deteriorating to a point of no return.
The ban has been in force since last Friday.
Parliamentary standing committee on labour, led by Biju Janata Dal MP Bhartruhari Mahtab, has said in its report that it is unjustifiable for owners to pay workers' wages during natural calamities.
Housing Development and Finance Corp Ltd (HDFC), the largest mortgage finance company in the country, on Monday launched a fixed-cum-floating rate scheme which would offer home loans at a fixed rate for the initial three or five years and at a floating rate thereafter.
According to ICRA, even in a high-growth scenario, wherein the second half of FY20 sees the incremental bank credit rise to Rs 6.5-7 trn, there will still be a 40-45% year-on-year decline.
Most of the index heavyweights are yet to declare their results.
Standard Life has raised its stake in an Indian life insurance joint venture to 26 per cent ahead of a proposed flotation of the business on the Indian stock exchange in 2009.
The RBI holds its next policy meeting in early June.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Nikkei share average rose 2.6% to close at 15,195.77 points, more than recouping Tuesday's losses.
The session will commence with the maiden address of President Droupadi Murmu to the joint sitting of both Houses of Parliament. The address essentially highlights the government's achievements and policy priorities.
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