Banks have not raised interest rates following the September review of credit policy.
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Reserve Bank of India (RBI) deputy governor M Rajeshwar Rao on Wednesday defended the central bank's decision of not allowing industrial houses to float banks, and said more deliberations are needed before RBI changes its stance on this issue agreed back in 2001. An internal working group (IWG) of the RBI had recommended allowing industrial groups into banking, but late last month the RBI said it kept on hold the two recommendations of allowing industrial houses and large non-banks to float banks. However, RBI had accepted 21 of the 33 recommendations of the group that submitted its report a year ago.
The only feasible way to have a healthy banking sector could be making it mostly private, along with two or three large, better-run government banks, suggests T N Ninan.
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Banks had a tough time in recovering loans from corporates in 2014.
Banks might hold on to lending rates for the time being.
State Bank of India bought 3,26,330 equity shares of Discount and Finance House of India Ltd at Rs 320 per share from Dena Bank and Oriental Bank of Commerce, raising its stake in DFHI to 51 per cent.
Meet to review progress on lending, impact of recent rate cuts and what is being done on NPAs, among other things
'Expectations are high regarding the change in LTCG with respect to equity investments.'
'The RBI has not allowed any commercial bank to fail in the past three decades.' 'It has always played the role of a matchmaker, but this is the best deal it has stitched,' notes Tamal Bandyopadhyay.
'I tried a public donation drive to support my campaign for progressive politics without much success so far. I also tried to cut down the projected campaign spending to the minimum'
A remarkable story which helped in transforming a bureaucratic organization, to a customer centric organization. This experience may inspire several government / private organizations to modify or adopt digitisation to transform their business, notes Professor N Ravichandran (retd).
The S&P BSE Midcap and S&P BSE Smallcap indices gained 0.4% and 1%, respectively
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
The two Indian banks will make available their combined network of 3,600 branches and a customer base of 40 million.
At present, the rates on term deposits are as high as 10 per cent for some maturities. For instance, Karur Vyasa Bank and Federal Bank are offering 10 and 9.6 per cent for one-year term deposits.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Among the Sensex firms, Larsen & Toubro, UltraTech Cement, JSW Steel, Titan, Bajaj Finance, Wipro, Tech Mahindra and Nestle were the major laggards. Maruti, Power Grid, Axis Bank, State Bank of India, NTPC, HDFC Bank, ITC and IndusInd Bank were the gainers.
The boards of three PSU banks - Bank of Baroda, Oriental Bank of Commerce and Andhra Bank met in deference to the Finance Ministry's insistence, but quite unexpectedly they did not roll back the rate hikes announced last week.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
A new wave of e-trading in partnerships with private broking houses is getting popular with banks in recent times.
Assuming we still have a Modi-led majority government after May 2024, there is no guarantee that reforms will move at anything more than a snail's pace, though we must be thankful even for that, notes R Jagannathan.
Indian banks on Thursday rejected the loan repayment offer made by Vijay Mallya.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
'We emphasise the importance of not basing investment decisions solely on electoral outcomes.' 'Instead, focusing on investing in high-quality businesses capable of prospering regardless of the political landscape is paramount.'
Despite high exposure of public sector banks to power, iron and steel sectors, analysts remain in a wait-and-watch mode.
The objections were filed after Airbus failed to repay Rs 196 crore, availed by the aircraft-making company on behalf of Mallya-controlled Kingfisher Airlines
Independent market analyst Ambareesh Baliga points out the red flags that retail investors should not have ignored and lists three scenarios -two of these scenarios offer a glimmer of hope to retail shareholders of Yes Bank - that could play out in the coming days.
While near-term performance is difficult to predict after a huge run-up, fund managers believe the PSU theme's prospects remain sound over the medium to long term.
With even kiranas now entitled to perform a few banking functions, telcos can be allowed to transfer funds - customers trust them enough to pay crores of rupees in pre-paid revenues.
Foreign banking major Standard Chartered Bank has tied up with Oriental Bank of Commerce for providing agency trade services to Indian importers.
The cutback on export credit refinance facility is another step towards a shift away from sector-specific liquidity allocations.
Mutual funds (MFs) are likely to surpass foreign portfolio investors (FPIs) in terms of anchor investments in initial public offerings (IPOs) for the second consecutive year. In calendar year 2023 so far, MFs have invested Rs 5,577 crore as anchor investors, compared to the Rs 5,417 crore invested by FPIs this year. In 2022, MFs put in Rs 9,026 crore as anchor investment, 21 per cent higher than the FPI tally of Rs 7,105 crore. This marked the first time since 2014 that MFs had outpaced FPIs in anchor investments.
Giving another boost to the great Indian growth story, seven domestic firms have been named as the emerging global challengers to the world's leading blue chips by the global equity research major Standard and Poor's.
Retail investors now own a larger share of smallcap companies than they did a year ago, thanks to their conviction in mutual fund (MF) schemes focused on this segment. Data from Capitaline shows that MFs' average holding in the National Stock Exchange Nifty Smallcap 250 Index stood at 9 per cent at the end of the October-December quarter of 2023-24 (FY24), up from 7.76 per cent in the same quarter of 2022-23.
