Backed by their strong physical presence across the country, UTI Mutual Fund and SBI Mutual Fund (MF) have managed to mobilise a higher proportion of their total assets under management (AUM) from towns and villages than their peers. Data compiled by Nuvama Institutional Equities shows that UTI MF and SBI MF are the only two major fund houses with over a fifth of their AUM coming from areas beyond the top 30 cities (referred to as B-30). UTI MF tops the chart with 23.8 per cent of its assets belonging to B-30 centres, followed by SBI MF with 21.2 per cent B-30 assets. The industry average stands at 17 per cent.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Apart from SBI, UPI 2.0 partner banks are HDFC Bank, Axis Bank, ICICI Bank, IDBI Bank, RBL Bank, YES Bank, Kotak Mahindra Bank, IndusInd Bank, Federal Bank and HSBC.
Raghuram Rajan has appointed him as head of several committees soon after taking charge.
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Business leaders met Manmohan Singh to discuss the problems facing the country.
Sensex ends belowe 26,800 on domestic concerns.
The regulatory changes brought in by the insurance regulator and the amendments proposed to the Insurance Act by the Centre may herald a new dawn for the sector in India. This may result in insurers bringing out more consumer-led products, top honchos of general insurance companies of the country concurred at the Business Standard BFSI Insight Summit 2022.
Over 25,600 cases of banking fraud reported up to December 21, 2017, says Minister RS Prasad.
There is a dearth of talent in the Indian banking industry. A testimony to this is the two new CEOs in the private sector -- Sandeep Bakhshi in ICICI Bank Ltd and Amitabh Chaudhry in AXIS Bank Ltd -- have come from the insurance sector, says Tamal Bandyopadhyay.
The RBI left the policy rates unchanged in Tuesday''s sixth bi-monthly monetary policy review.
From the 30-share basket, 28 scrips suffered losses. Over 200 stocks were at their 52-week low in Tuesday's trade.
The 57-year-old Bhattacharya, front-runner for the post on account of years of service left, was managing director and chief financial officer of the bank prior to her elevation.
Top leaders from India Inc may be busy throughout the year, but they too have a very strong social life beyond work.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Tracking the strong momentum in the broader market, as many as 99 stocks touched their one-year high level on the BSE on Monday.
The Sensex took just five trading sessions to surpass the 36,000-level milestone, from 35,000.
'The book captures Rana Kapoor's hunger for real estate leading to bungalows in Delhi, Mumbai, London and other cities; the multiple companies -- over 100 -- to fund his family's various ventures; the attempt to game the system by showing lower non-performing assets,' notes Joydeep Ghosh.
With more firms now offering stock options to their chief executives, the salaries of these managers are sky-rocketing.
Exactly a fortnight ahead of the Reserve Bank of India's (RBI's) next monetary policy review, a key market indicator of interest rates - the overnight indexed swap (OIS) - suggests that the central bank may tighten policy by 35 basis points and then refrain from further rate hikes. RBI Deputy Governor Michael Patra recently described the OIS as the primary instrument for hedging interest rate risk in India. The six-member Monetary Policy Committee (MPC) of the RBI will meet on December 5-7.
Investors became richer by over Rs 6.34 lakh crore on Monday as markets gave a big shout-out to the Budget 2021-22, which analysts termed as 'unprecedented' against the backdrop of the pandemic-induced slowdown. Cheering the Budget proposals, the BSE benchmark Sensex zoomed 2,314.84 points or 5 per cent to close at 48,600.61. During the day, it jumped 2,478.63 points to 48,764.40. This was the best Budget-day gain for the markets since 1997, analysts said. Following the extremely positive market sentiment, the market capitalisation of BSE-listed companies rallied Rs 6,34,069.67 crore to Rs 1,92,46,713.70 crore.
Audit firm Deloitte has resigned as auditors of Byju's citing a delay in submission of financial statements while almost simultaneously three of the edtech firm's board members have quit in what is being seen as a deepening crisis at the decacorn. Deloitte Haskins & Sells, which was slated to audit Byju's until 2025, stepped down with "immediate effect" mid-term stating that "the financial statements of the company are long delayed. In a letter sent to the board of Think & Learn Pvt Ltd (known as Byju's), Deloitte said it has not been able to start an audit due to the delays and that will have a "significant impact" on its ability to "plan, design perform and complete" the audit as per standards.
Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
Sunak announced that the Immigration Health Surcharge (IHS) would be hiked from 400 pounds to 624 pounds.
Independent directors were supposed to safeguard the interest of all stakeholders.
Of the total, the financial creditors - banks, bond holders and other financial institutions - have claimed Rs 86,892 crore.
Unified Payments Interface launched to simplify mobile banking.
New borrowers should go for banks over housing finance companies as the new benchmark -- MCLR -- is more transparent.
Sensex, Nifty put up a good show in closing trade.
The country's top FMCG stocks, such as Hindustan Unilever, ITC, Nestl, Britannia, Godrej Consumer Products, and Dabur, among others, are currently trading at around 41x their trailing 12-month earnings, down from their peak P/E multiple of around 48x at the end of December 2018.
India's top banker Chanda Kochhar shares valuable life lessons in a letter to her daughter.
There's a long way to go before human beings are replaced by machines -- in banks at least.
Market cap of government companies has remained unchanged in the past 8 years.
With enough liquidity in the system, lending and deposit rates are likely to fall further
Did the transaction fail? Did you receive your money on time?
Market breadth is positive with 942 advances and 196 declines.
RBI has cited at least 10 areas where it has no control over PSBs.
Financial shares were among the top Sensex gainers along with auto and pharma shares.
The Reserve Bank left interest rate unchanged.
'When Pinnacle Trust bought the stake of Supreme Energy, it included a liability of Rs 640 million. The purchase was at a fair market value (prevailing price) of Rs 8.80 per share,' Deepak Kochhar said in a telephonic conversation with Business Standard.
Blind spots of the company were two-fold - managing cash flow and investments to upgrade technology and continue research and development.
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