Had you invested Rs 10,000 each in JSW Steel, Titan Company and Bajaj Finance 20 years ago, when they were just penny stocks (trading below Rs 10), you would have become a millionaire by now.
SBI is among the few lenders who have not increased their base rates after the Reserve Bank of India's mid quarter policy review on September 16.
Concerned at the declining industrial growth, industry chambers on Thursday suggested that lending rates should be brought down to single-digit levels.
"In view of the festival season and extending the benefits to customers across all segments, we have reduced our MCLR by 10 bps across all tenures," the bank said in a statement.
'India has formed tremendous resilience and still a strong growth.'
Loans up to Rs 20 million to companies involved in farming and allied activities will be treated as lending for direct agriculture under priority sector lending status.
Lenders have become worried as some dealers were not using the money provided to them for car financing.
Feature for feature, bank FDs are indeed better than debt funds today, mainly thanks to Ms Sitharaman, notes Debashis Basu.
RBI Governor Raghuram Rajan asked banks to follow suit and pass on the rate cuts.
Perfect occasion to list 30 real-life educators whose unique methods, unwavering dedication or scholarly persona impressed us.
Perfect occasion to list 30 real-life educators whose unique methods, unwavering dedication or scholarly persona impressed us.
At a time when the role of corporate boards is once again under the scanner, independent directors on the Paytm Payments Bank board have indicated that red flags were raised over regulatory issues but they may have been late in doing so. "As independent directors, we asked questions and monitored responses to the Reserve Bank of India (RBI). Many changes were made on compliances. "Obviously, in retrospect, it was not found to be enough," said one of the independent directors on the condition of anonymity.
Credit-to-deposit (CD) ratio of major public sector and private sector banks during the October-December quarter of FY24 inched up as compared to the previous quarter though government-owned lenders reported a lower rate than their private peers. CD ratio is the ratio of the funds that banks lend as compared to the funds raised in the form of deposits. The CD ratio of top public sector banks (PSBs) - State Bank of India, Punjab National Bank, Bank of Baroda and Canara Bank - was lower than their private counterparts.
this move by the government is likely to iron out the current challenges for the NBFCs and in turn help the real estate sector.
Nitish Kumar wants to assure the BJP leadership that he will continue to be a part of the NDA. But he also wants to secure a larger number of seats for his party in the 2025 assembly elections in Bihar.
Neeraj Chopra's soaring javelin did not just earn India their first Olympic gold in athletics on Saturday, it also meant that the contingent will return from Tokyo with seven medals, their biggest Games haul ever.
The bank kept cash reserve ratio unchanged at 6 per cent.
'This is not just the IREDA's IPO. It is the success of the ministry of new and renewable energy and of the renewable energy industry.'
He said that as India aspires to become the voice of the Global South, it cannot be discussed without discussing the problems of people in Palestine.
'The real repo rate is very high in terms of core inflation.'
Ravichandran Ashwin has taken criticism on the chin and has responded with a bagful of wickets, refusing to let that 'outside noise' disturb the equilibrium of his mind.
'The last year's growth is a foretaste of things to come in the retail credit market.'
'We may see little softness in liquidity position after the stabilisation of the government.'
Borrowing from a fraudulent loan app subjects the borrower to a variety of risks.
Ganesh Puja in Alibag taluka is about simplicity and minimalism. It's about quiet devotion too.
The coaching-tuition-profiteering model built on the back of a broken education system is a scandal and an abomination, and must go, asserts Shekhar Gupta.
'Remember, if an app breaks the rules while giving you money, it will also break them while collecting.'
The new scheme may be announced before the Lok Sabha elections.
Images from India's first T20I against Australia in Visakhapatnam on Thursday.
Why are financial-technology (fintech) players moving back to India, or doing the reverse-flipping?
The country's largest lender State Bank of India on Wednesday said it has reduced its marginal cost of fund-based lending rate (MCLR) by up to 15 basis points across various tenures, effective March 10. The bank has reduced its one-year MCLR by 10 basis points to 7.75 per cent from the earlier 7.85 per cent, SBI said.
For the time being, digital lending remains a grey area, notes Tamal Bandyopadhyay.
'One way of doing this could be offering credit guarantee to the banks, say 10 per cent, for fresh loans given to micro, small and medium enterprises,' observes Tamal Bandyopadhyay.
State Bank of India has revised lending rates based on marginal cost of funds, a new methodology that will take effect from April 1.
'Probably revised guidelines will come, and then the real picture will emerge.'
In yet another move to close the regulatory gap between banks and shadow banks, the Reserve Bank of India (RBI) has mandated exposure limits to the non-banking finance companies, in line with commercial banks. In the large exposure framework released on Tuesday, the regulator capped aggregrate exposure of NBFCs which are in the upper layer toward one entity at 20 per cent of capital base. The limit can only be extended by another 5% with board's approval. For a particular borrower group, the cap is at 25 per cent, with additional 10 per cent if exposure is towards infrastructure.
'If the portfolio growth rate is higher, take this loan. If it is lower, liquidate your investments.'
Reserve Bank of India Governor Urjit Patel on Saturday exhorted banks to reduce their lending rates to push credit demand in laggard segments, saying banks have benefited from influx of low-cost deposits and its previous repo rate cuts.
A cut in the CRR will help banks release their funds stuck with the RBI on which they do not get any interest from the regulator.
The RBI's decision to tighten norms for unsecured personal loans is credit positive because lenders will need to allocate higher capital for such loans, thus improving their loss-absorbing buffers, Moody's Investors Service said on Monday. The Reserve Bank last week raised risk weights on unsecured retail loans, credit cards and lending to non-banking finance companies (NBFCs) by 25 percentage points. Moody's said unsecured loans have been growing rapidly in the past few years, exposing financial institutions to a potential spike in credit costs in case of sudden economic or interest rate shocks.
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