Fitch Ratings on Monday said India's steady GDP growth outlook, improved banking sector's financial health and expected interest-rate cuts in 2025 will support credit access for corporates in FY26.
As banks' chase for customers to collect cheap deposits is not fructifying, they are forced to offer inflation-beating real interest rates on fixed deposits now, and state-run banks led by Punjab & Sind Bank tops the chart offering 8-8.50 per cent per annum deposit rate. Banks are forced to offer inflation-beating deposit rates for a tenor ranging from 200 to 800 days as credit growth has been far outpacing deposit mobilization throughout this fiscal, leading to a funding crunch.
'One should not invest more than 5 to 10 per cent of their overall portfolio exposure in global or international funds.'
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
Zero-coupon bonds don't give out interest but are issued at a deep discount to the face value, making it difficult to ascertain the net present value.
'Growth for some companies has been hard to come by and this is a smart way to get there.'
The government is likely to infuse Rs 3,000 crore in seven public sector banks to shore up their Capital Adequacy Ratio (CAR) to 12 per cent to improve the market confidence in the banking sector.
Commemorating 75 years of India's independence, SBI has launched a 75-day Utsav Deposit Scheme, offering 6.10 per cent for fixed deposits. Senior citizens will get an additional 0.50 per cent and the offer is on until October 30, SBI said.
A major reshuffle of top executives in 11 PSU banks is on the cards with the chairmen of Allahabad Bank, Corporation Bank, Syndicate Bank, Union Bank of India and Vijaya Bank slated to retire between March-July 2006.
According to a 2021 Redseer report, India's overseas education market is estimated to more than double to $80 billion by 2024.
In the biggest consolidation exercise in the banking space, the government on Friday announced four major mergers of public sector banks, bringing down their total number to 12 from 27 in 2017, a move aimed at making state-owned lenders global sized banks.
The inaugural edition's winner Mumbai Indians will bank on their core group of players while two-time finalists Delhi Capitals will expect fireworks from Shafali Verma when they face-off in the second game of the Women's Premier League here on Saturday. The finalists of the first WPL in 2023, both Mumbai Indians and Delhi Capitals made it to the knockouts in the second edition last year but lost to the eventual champions Royal Challengers Bengaluru in the eliminator and the final respectively. Those defeats were certainly not reflective of how well MI and DC had fared until the knockouts stage, with Harmanpreet Kaur's side finishing second in the points table with five wins in eight matches and Meg Lanning's team topping it with six wins in as many outings. The winners of WPL 2023, Mumbai Indians tend to lean on their core group of players both overseas and Indian and a similar approach can be expected this year, with only a few changes taking place in terms of squad composition. India pacer Pooja Vastrakar, who was grappling with an unspecified injury, was ruled out of the competition and has been replaced by slow left-arm orthodox bowler Parunika Sisodia, who was one of the main performers in India's title-winning campaign in the U-19 Women's T20 World Cup recently. Mumbai Indians have let go of England's Issy Wong, who took the first-ever WPL hat-trick in 2023, after the player lost form and the franchise found the leader of their attack in South Africa's Shabnim Ismail. Among domestic talents, another member of the U-19 T20 World Cup winning squad G Kamalini would be one to watch out for, having finished as the third highest scorer in the competition with 143 runs in seven matches. Apart from a strong leader in Harmanpreet, MI have strong figures from other international sides such as Nat Sciver-Brunt (England), Hayley Matthews (West Indies), Amelia Kerr (New Zealand), as well as South Africans Nadine de Klerk, Shabnim Ismail and Chloe Tryon. While Yastika Bhatia is MI's No 1 wicketkeeper-batter, other Indian players in Saika Ishaque, Sajana Sajeevan, uncapped Akshita Maheshwari and Amanjot Kaur will be expected to play their roles to perfection. On their part, Delhi Capitals will be keen to do one better after finishing as runner-up for two times in a row ever since the competition began. One of the most consistent teams in the competition, the Lanning-led Delhi have strong talent base across departments but the key will be to deliver in crucial matches. All eyes will be on the explosive Indian batter Shafali who has responded to her exclusion from the Indian side with runs in domestic cricket. She forms a lethal opening pair with Lanning at the top, while the likes of Australia's Annabel Sutherland, England's Alice Capsey and India's Jemimah Rodrigues form the core of their middle order. All-rounder Sutherland will hope to draw inspiration from her recent success of having struck 163 in the only Test of the women's Ashes followed by winning the highest individual honour in Australian cricket. While Delhi boasts of three wicketkeeper-batters in India's Taniyaa Bhatia, Nandini Kashyap and Scotland's Sarah Bryce, their bowling looks settled with Marizanne Kapp as the leader of the attack, backed by Australia's Jess Jonassen, India's Radha Yadav and Shikha Pandey as well as Titas Sadhu.
Kurumbur in gold-loving Tamil Nadu was once a thriving centre for goldsmiths. Today their number is down to two.
The six banks that have joined the major league are Syndicate Bank, Indian Overseas Bank, UCO Bank, Oriental Bank of Commerce, IDBI Bank and Allahabad Bank.
At a hearing before Master David Cook at the Queen's Bench Division of the court, Mallya's legal team sought a dismissal of the interim order.
Punjab National Bank has embarked on a five-pronged strategy for improving its financial position to become the 'best bank' in the country.
Four major banks including State Bank of India and ICICI Bank have been appointed as the preferred banks for extending loans to employees of NTPC for investing in the power major's maiden public offer.
The Reserve Bank of India (RBI) has put in place a framework to allow overseas subsidiaries and branches of Indian banks and financial institutions to undertake activities not specifically permitted in the Indian domestic market. The framework also specifies the applicability of these instructions to International Financial Services Centres in India, including Gujarat International Finance Tec-City (GIFT City). While these activities may not need prior approval, they are subject to compliance with all applicable laws/regulations and conditions stipulated by the RBI and those prescribed by the host regulator.
Less than a month after five financial institutions sold 20 per cent in the National Stock Exchange, a consortium of five stakeholders led by State Bank of India are looking to sell an 11 per cent stake in the exchange.
The bank's branch expansion and recruitment have been curtailed.
With the government clearing the decks for direct listing at the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC), issuers will wait for the ecosystem to develop further before firming up their listing plans. In the meantime, most companies may continue to prefer listing in the onshore market, even as the new avenue provides key benefits such as tax waivers and reduced foreign exchange risk. Sources said that a few key things need to be ironed out further.
The government is set to initiate consultations with the Reserve Bank of India (RBI) to devise a new security clearance framework for screening potential bidders of public sector banks (PSBs) as it kick-starts the privatisation process, beginning with the strategic divestment of IDBI Bank. As the government is moving ahead with strategic divestment of IDBI Bank and is looking to privatise two PSBs, the Department of Investment and Public Asset Management (DIPAM) is looking to put in place an appropriate framework as the potential buyers will have to meet the RBI's fit and proper criteria, said an official. The process of bank privatisation would be different from the sale of any other public sector undertaking (PSU), and more restrictions and measures will have to be put in place, the official said.
The Reserve Bank of India has convened a meeting of bank chairmen and managing directors on September 16 to discuss ways to formulate the benchmark prime lending rate, which is expected to be introduced by this month-end.
From the 30-share blue-chip pack, Zomato cracked nearly 7 per cent. Power Grid, Adani Ports, Tata Steel, NTPC, Tata Motors, Tech Mahindra, Mahindra & Mahindra, Asian Paints, Sun Pharma and UltraTech Cement were the other major laggards. In contrast, Axis Bank, Hindustan Unilever, Tata Consultancy Services and IndusInd Bank were the gainers.
'I don't think we have ever seen such alignment of everything that we need in the banking sector.'
The move to make the appointment process more robust comes after last month's arrest of S K Jain, chairman and managing director of Syndicate Bank last month, over graft charges.
It won't be easy for the banking sector to better its performance every quarter, predicts Tamal Bandyopadhyay.
Coming out of its self-imposed shell, Union Bank of India, the fifth largest public sector bank in the country, is moving forward to opening branches overseas. The bank has over 2,000 branches across India, but no branch overseas.
Why did the company zero in on RBL Bank to understand the business of banking? While the M&M investors heaved a sigh of relief, one gentleman must have been all smiles after this, RBL Bank MD and CEO R Subramaniakumar, notes Tamal Bandyopadhyay.
Indians remitted close to $2 billion in November under the Reserve Bank of India's (RBI's) liberalised remittance scheme (LRS), latest data released by the central bank showed. Outward remittances under the scheme jumped 29 per cent to $1.99 billion compared to $1.54 billion in the year-ago month. Sequentially, outward remittances under the scheme were up about 3.5 per cent.
Investors lost Rs 24.69 lakh crore in market valuation in the last four days of severe drubbing in the equity market. Spike in global crude prices, unabated foreign fund outflows, a strong US jobs data diminishing early rate cut expectations, and the rupee logging its steepest single-day fall in nearly two years dampened investors' sentiment.
The bank has said rent payments will not earn reward points, and redemption of reward points on various cards have been capped in certain segments.
Notwithstanding the recent sharp decline in the stocks of public sector companies, analysts at Jefferies remain bullish on this segment. State Bank of India, Coal India, and NTPC are their top picks in this space, they said in a recent note. The public sector undertaking (PSU) or state-owned enterprise (SOE) index, with a 70-percentage-point outperformance versus the National Stock Exchange Nifty50 over the past 12 months, comes after a decade of underperformance before 2020.
'Binary fission will happen -- startups will lead to more startups.'
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