Indian stock market benchmark indices Sensex and Nifty experienced a significant drop in early trade due to rising crude oil prices, bearish global market trends, and continuous foreign fund outflows.
The banking sector could see better loan growth in the third quarter of financial year 2026 (Q3FY26) with improved net interest margins (NIMs), though the full impact of latest rate cuts will be largely felt in the fourth quarter. There may be lower slippage in unsecured loans and microfinance institutions (MFIs) along with steady recovery trends, which should lower credit cost.
From the 30-Sensex firms, Tata Consultancy Services, Asian Paints, Maruti, Sun Pharma, Hindustan Unilever, ICICI Bank, Kotak Mahindra Bank, Tech Mahindra, HDFC Bank and Larsen & Toubro were among the biggest laggards. On the other hand, Tata Steel, NTPC, Axis Bank and UltraTech Cement were among the gainers.
The bank posted a net profit of about Rs 2,300 crore.
Awaiting regulatory approvals for its foray into financial services sector, Mukesh Ambani-led Reliance Industries has acquired shares in giants like HDFC, ICICI Bank and Axis Bank as part of long-term 'investments'.
Banks and NBFCs are launching festival offers, including lower loan rates, cashback, EMI schemes and GST-linked benefits to tap rising demand ahead of Diwali
Sectoral funds, focused exclusively on public sector banks (PSBs), have delivered the strongest returns among domestic mutual fund (MF) categories over the past six months. However, active banking funds have significantly lagged because of their heavy tilt towards private lenders.
This cashless transaction is a part of corporate debt restructuring agreed by banks and the airline company.
It will help customers raise the eligible amount by up to 20 per cent and increase the tenure by up to seven years.
The government of India has nominated Vinod Rai as the government nominee on the board of ICICI bank in place of Vineeta Rai with effect from January 3, 2003.\n\n
Among the Sensex constituents, Asian Paints, Tech Mahindra, HCL Technologies, Tata Steel, Maruti Suzuki India, Sun Pharmaceuticals, Tata Consultancy Services, ICICI Bank, Bajaj Finance, UltraTech Cement, Mahindra & Mahindra and Tata Motors Passenger Vehicles were the laggards. However, Eternal, Titan, Adani Ports, Bharat Electronics Ltd, State Bank of India, Bajaj Finserv, NTPC and Bharti Airtel were among the gainers.
Among Sensex firms, Asian Paints jumped the most by 4.18 per cent. Mahindra & Mahindra, Bharti Airtel, ITC, Hindustan Unilever, ICICI Bank and Reliance Industries were also among the gainers. However, Infosys, HCL Tech, Eternal, Tech Mahindra and Tata Steel were among the laggards.
Executive Director V Vaidyanathan will assume the position of managing director and chief executive officer of the bank's life insurance arm, ICICI Prudential. This slot had fallen vacant as Shikha Sharma decided to move to Axis Bank.
The rate, which has been reduced from 14.25 per cent, will benefit all existing home loan and auto loan customers, the bank said. Besides, the bank reduced it benchmark lending rate by half a percentage points to 16.75 per cent.
Kochhar's counsel argued that according to Section 35B (b) of the Banking Regulation Act, prior approval of the RBI is required to terminate the contract of a bank's chairman or managing director. But in this case, the RBI approval came after the termination letter was served.
ICICI Bank has reported a 44.67 per cent jump in net profit on a consolidated basis at Rs 336.89 crore (Rs 3.368 billion) for the first quarter ending June 30, 2003 as compared to Rs 232.86 crore (Rs 2.328 billion) for same quarter last fiscal.
ICICI Bank Ltd has informed BSE that its board will consider the audited financial results for the third quarter ended December 31, 2002 at its forthcoming meeting to be held on January 31, 2003.
new base rate will be effective Monday next, while the new retail lending rates will be effective today itself.
ICICI Bank, India's second biggest bank, has offered to lower the equated monthly installments for a large number of its borrowers by enhancing the tenure of their home loans.
The bank raised it floating rates from 12 per cent to 13 per cent, with the fixed rate being raised to 16.5 per cent from October 10.
Indian benchmark stock indices Sensex and Nifty rebounded, closing over 1% higher, mirroring a global equities recovery after recent losses due to geopolitical tensions.
The bank's net profit fell to 2,232 crore for its fiscal first quarter to June 30.
Country's largest private lender ICICI Bank on Wednesday said it will raise up to Rs 8,750 crore (Rs 87.50 billion) through a Follow-on Public Offer in the domestic markets.
Since January this year, RBI has cut the repo rate - at which it lends to commercial banks -- to a gross of 1.25 per cent.
ICICI Bank is planning to increase its home loan rates by 50 basis points "anytime before the end of the current fiscal".
ICICI Bank has reversed its decision to raise the minimum monthly average balance (MAB) for new savings accounts in metro and urban locations to Rs 50,000, revising it instead to Rs 15,000, effective August 1. The MAB for new savings accounts in semi-urban locations has been revised from Rs 25,000 to Rs 7,500, and for rural locations from Rs 10,000 to Rs 2,500.
Bajaj Finance was the top gainer in the Sensex pack, rising around 3 per cent, followed by Bharti Airtel, Sun Pharma, Reliance Industries and SBI. NSE Nifty advanced 184.60 points to 16,955.45.
A corporate lawyer said that this is the biggest failure of corporate governance in this country. He pointed out that American investors can even take the bank to court for giving false statements to stock exchanges and even file class action suits. Some even questioned how RBI overlooked Kochhar's misdeed.
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.
The Infinix Note 60 Pro is now on sale across India -- the entry model is equipped with 8 GB memory and 128 GB storage. It is priced at 31,999.
The net non-performing assets on December 31, 2016 were Rs 20,155 crore compared to Rs 16,483 crore at September 30, 2016
ICICI Bank is likely to disburse Rs 7,000 crore (Rs 70 billion) as agricultural lending in 2004-05 as against Rs 4,000 crore (Rs 40 billion) in the last fiscal.
Consolidated total income of the bank, whose share price recently tumbled on rumours of high exposure to overseas sub-prime loans, rose 12.56 per cent to Rs 15,590.46 crore during the quarter against Rs 13,850.57 crore for the same period last year.
Bank had no obligations to Perdaman, the judge said.
The Sensex and the Nifty reached an intra-day high of 16,784 levels and 5,021 mark, respectively.
