The slowdown in retail asset growth and competitive pressure have forced banks to reduce rates on retail loans. After HDFC reducing floating home loan rates by 50 basis point, it is now the turn of Axis Bank, which has reduced its floating home loan rates by 50 basis points.
Kotak Mahindra Bank on Monday launched its online remittance service - FundstoHome - for non-resident Indians.
Pressure has been mounting on the Reserve Bank of India to cut interest rates in the wake of declining retail inflation and the need to fuel growth momentum. However, the RBI will have to do a tightrope walk as globally interest rates are inching upwards.
The real estate space has been buzzing quite a bit of late. Especially after Parsvanath's IPO and the possibility of DLF coming into the market, at current valuations, is this the time to buy into this space?
Gautam Adani, who is diversifying into many businesses, saw a 48 per cent rise in his wealth to Rs 1.40 lakh crore and moved up two places in rankings to being the fourth richest Indian. Hinduja Brothers and HCL's Shiv Nadar were ranked 2nd and 3rd. Wipro's Azim Premji slipped two places to fifth place.
The issue will comprise a secondary share sale worth Rs 600 crore by private equity major Everstone Capital and fresh fundraising worth Rs 400 crore.
Investors must keep in mind that the bank has significant room for improvement, which could justify its aggressive valuations of Rs 275.
Overall, the positives in favour of ONGC seem to outweigh the negatives from a long-term perspective.
Banks say they themselves red-flagged the transactions to RBI. It must be noted that these transactions are not outright evidence of fraud or proof of nefarious activities.
The Art of Living Foundation would hold the Second International Summit on Corporate Culture and Spirituality from November 19 to 21 at its headquarters in Bangalore.
Shares of RIL on Monday opened at Rs 1,206.50, then gained further ground and touched its 52-week high level of Rs 1,238.05, up 2.87 per cent over its previous closing price.
The total wealth of the ultra HNIs, or those with a networth of over Rs 25 cr, grew by five per cent to Rs 1.35 lakh cr.
Citigroup, a global financial major, has appointed Ajay Sondhi as managing director and head of its global wealth management for the Indian subcontinent.
Moratorium was only a temporary reprieve to borrowers affected by the pandemic, adding that a longer moratorium period exceeding six months can impact credit behaviour of borrowers and increase the risks of delinquencies post resumption of scheduled payments.
'It has taken us 15 years to get to where we are. It obviously doesn't happen overnight.'
'The fiscal pressure will be there, but the intent of the government behind this move is to spur demand and growth.'
Even erstwhile independent directors were being paid substantial remuneration including commission. The median annual salary of IL&FS employees was Rs 13.1 lakh.
Soon after the lifting of the 13-day moratorium at 6 pm, some customers took to social media complaining that they were not able to access certain services, including internet and mobile banking.
Ajit Mishra answers reader queries on the stock market.
Noted banker Uday Kotak said the country's financial system is currently in a Darwinian mode as only the fittest lenders are able to survive. Kotak also said that historically, whenever there has been a problem with a private sector lender, it has been merged with a state-run bank.
Riding on a stock market boom since 2009, India Inc's chief executives have been able to salvage a lot of lost pride in their second innings.
Share markets will have only three trading days this week with Monday and Wednesday being holidays due to general elections in Mumbai and Maharashtra Day, respectively.
The All India Bank Officers Association (AIBOA) on Monday said it has launched a wing to deal with issues faced by those working for private sector lenders.
Lead managers to the ensuing public issue of Oil and Natural Gas Corporation have agreed not to charge any commission on participatory notes aimed at attracting large foreign investors as part of its underwriting agreement.
Thirteen companies have joined the Rs 1-trillion-plus market capitalisation club this year, so far. This even as the benchmark Sensex has gained less than 3 per cent on a year-to-date basis, underscoring the bullish undercurrent in the broader market. The trend shows a harsh second wave of Covid-19, subsequent lockdowns, and hit to the economic activity has made little dent into India Inc or shareholders' wealth. At the start of the year, there were 29 companies with a market value of more than Rs 1 trillion.
G Murlidhar, MD and CEO, Kotak Mahindra Life Insurance Company explains how to make smart financial decisions for better gains.
