Most public sector banks, flush with deposits now, offer 3-4% interest on savings deposits, while a few private sector banks go up to 6%.
It recorded total income of Rs 54,606 crore (Rs 546.06 billion) and net profit of Rs 9,810 crore (Rs 98.10 billion) on stand-alone basis.
A day after its bigger rival ICICI Bank cut its lending rate, the third-largest private lender, Axis Bank, on Friday lowered its base rate by 0.10 per cent to 9.85 per cent, effective June 30.
Fund transfer through Facebook is meant for tech-savvy customers.
'Long-term retail investors should not worry about these sharp dips and jumps if they have chosen their stocks wisely.' 'Short-term volatility is a given and a rise and fall of two-three per cent should not worry them.'
Before taking such loans, compare the interest rates charged by various players, advises Sanjay Kumar Singh.
If the earnings in the first quarter of the current financial year are an indication, most banks, particularly those majority-owned by the government, have fared well, reveals Tamal Bandyopadhyay.
Finance Minister Arun Jaitley said the magnitude of the alleged black money transfer through state-owned BoB will only be known after completion of the multi-disciplinary probe.
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.
Of the six-member rate-setting monetary policy committee, five members voted for a 25 bps cut while one by 40 bps, the RBI said.
On February 11, 2009, Subhiksha announced that it was closing down all its 1,600 outlets till May 2009.
The yield on the 10-year bond may fall to 8.70 per cent due to FII flows in debt.
Maruti is not an online outlier, of course; other heavyweights have rolled out similar services. But as an analyst pointed out, Maruti's all-India roll-out has significant impact given that it accounts for over half of all cars sold, reports, reports Pavan Lall.
The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of India, India Post Payments Bank, National Bank for Agriculture and Rural Development (Nabard), and a few small finance banks.
The grief-stricken mother wishes for death penalty for the guilty.
Franklin Templeton Mutual Fund, which has closed six debt schemes, has said the winding-up process will be delayed in the absence of authorisation from investors and further steps will be possible only after seeking fresh approval from them. It further said that investors who do not have an e-mail ID or mobile number registered with the fund house will not be able to participate in the voting process. The date on which the voting would start has not been disclosed yet.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The government has been waiting for the expansion by the private sector, Finance Minister Nirmala Sitharaman said while reminding India Inc of various measures including corporate tax rate cut, policy consistency, ease of doing business, among others to facilitate investment.
Chances of a rate cut in April improve if core inflation continues to ease, growth falling below the projected 7.2% for FY19 and if the global trade slowdown exacerbates.
Further stimulus measures are expected in the upcoming Budget where the focus is likely to be on reforms, including some structural measures such as reducing red tape and boosting foreign direct investment. The meeting with industrialists is in the series of discussions that Modi has had during the last couple of weeks to seek suggestions to revive growth.
The government had last sold 5 per cent stake in ONGC in 2012 for Rs 14,000 crore (Rs 140 billion).
'Kindling the private sector's animal spirits is more important than focusing on how government can give jobs on its own.'
In April, RBI had to issue a warning about a mobile application.
'If the Union Budget can provide incentives for animal spirits to come as well as induce demand stimulus and consumption, the Budget would have done a wonderful job.'
'Markets are likely to remain choppy for the next 6 months.'
Private sector lenders have been communicating to their customers about their strong capital positions but it has not put depositors at ease.
The panel suggests the government be authorised to raise the thresholds, which trigger applicability of Corporate Social Responsibility provisions.
A combination of bank guarantees, letters of credit, buyer's credit for computer servers have been provided to the two local operational arms by Kotak Mahindra Bank and Deutsche Bank.
The resignation is sure to create more political firestorms for the government as it comes on the eve of the winter session of Parliament where the Opposition has already made it clear to the treasury benches that infringing on the RBI autonomy would be a big talking point for them.
The economic growth is likely to moderate to 6.1 per cent, slowest in over seven quarters, from 6.6 per cent last year same period.
'When you have surplus cash flow and markets correct sharply, what options do you have other than buying good stocks?'
Biggest challenge is to control fiscal deficit
The most common complaint of financial consumers is cumbersome processes, complicated products, usurious charges, and mis-selling of products, which finally don't deliver what is promised or as expect, notes Debashis Basu.
FII investments, movement of rupee against dollar and crude oil to influence trading
The amount you can raise via a gold loan is higher than you can get via a personal loan.
In one of the largest FDI deals in realty sector, global private equity Warburg Pincus will invest Rs 1,800 crore (Rs 18 billion) in Piramal Realty, which would use the funds to develop mixed-use projects in the megalopolis.
This, despite squeeze in start-up funding; $946 mn Bharti Infratel deal is biggest so far this year
Also, the import tariff value -- the base price at which customs duty is determined to prevent under-invoicing -- in case of silver has been reduced to $644 per kg from $694 per kg earlier, a notification by the Central Board of Excise and Customs said.
It is also learnt that Deutche bank has initiated a search for a new head of its private wealth management business in India
All sectoral indices on the BSE and NSE ended in the red, led by realty, banking, metal, pharma, pharma and financial stocks.
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