'Banks will continue to increase FD rates to attract more deposits and meet the increasing demand for credit.'
Trai chairman Rajiv Khullar says, India has to pull up its stocks in order to achieve financial inclusion.
'They want (the ownership and management of PSU banks) to pass into the hands of a private sector entity.' 'Ownership of these banks will go from the public sector to private sector.'
'Under Modi Ji's 'Jan Dhan Loot Yojana', another scam!' he tweeted.
On the heels of the Reserve Bank of India making out a case for better pay packages for PSU bankers, global consultancy KPMG said that not only senior personnel, but non -executive directors, too, should be paid salaries on par with their private sector counterparts.
With inflation down, the government's twin deficits are largely under control.
Given the uncertain macroeconomic conditions, most brokerages have turned slightly cautious on the pace of growth in State Bank of India's (SBI's) earnings going ahead. While they don't see any significant risk arising for now, its sheer balance sheet size and systematic importance has nudged them to cut earnings estimates for fiscal year 2023-24 (FY24) and 2024-25 (FY25) up to 5 per cent. India's largest state-owned bank, on Thursday, reported standalone net profit of Rs 16,694.51 crore for Q4FY23.
The indices closed with losses for the week, with the Sensex declining 476.14 points, and the broader NSE Nifty falling 155.45 points during the period.
Last week, govt sold shares worth Rs 220 crore in the open market without making a formal announcement. The deal came to light only this week.
The 30-share Sensex closed up 34 points at 27,831 and the 50-share Nifty ended up 15 points at 8,356.
Tata Sons stake in the group's listed companies is now worth Rs 9.28 trillion, up 34.4 per cent on a year-on-year (YoY) basis. In comparison, the Government of India's stake in listed central public sector undertakings (PSUs) is currently valued at Rs 9.24 trillion
Cyber crime wing has been receiving 4-5 complaints every day involving impersonation
Ironically, bad loans and non-performing assets are on the rise in public sector banks in India, say sector watchers.
The NSE Nifty settled the day 93.20 points or 0.88 per cent lower at 10,452.30 after shuttling between 10,612.90 and 10,434.05.
Valuation-wise, the markets look more attractive now
In the first two years, we spent Rs 15,000 crore, which was more than our target, says S K Chaturvedi, CMD, Power Grid Corp.
State Bank of India (SBI) on Wednesday reduced interest rates on loans for car and consumer durables and also decided to lower processing charges to cash in on the festival season demand.
The agency has registered the FIR after a preliminary enquiry on a complaint from the oil ministry.
After years of disappointing growth, the economy and the markets are poised for a breakout, notes Akash Prakash.
If a 5% to 10% fall in the equity market gives you sleepless nights, you are not cut out for a 75% to 80% allocation to equities and must reduce it.
Earnings growth, attractive valuations and change in FPI flows from negative to positive over the next 12 months are some of the key triggers for an upside. "A poor monsoon, high inflation and further rate hike are some of the key risks
As per the budget document presented in Parliament, public sector enterprises, including banks, are expected to contribute Rs 88,188 crore in the form of dividend and profit to the government in the current financial year.
Sectoral performance was mixed with media and PSU banking stocks attracting buyer interest and healthcare, FMCG and metal stocks bearing the brunt of the bears
On a net basis, foreign portfolio investors bought Rs 446 crore worth of domestic stocks on Thursday and domestic institutional investors (DIIs) were net buyers to the tune of Rs 49.68 crore, provisional data available with BSE suggested.
The NSE 50-share Nifty also closed higher by 61.60 points, or 0.59 per cent, at 10,504.80 after shuttling between 10,513 and 10,441.45.
Banking PSU stocks made a brave comeback on Monday after succumbing to losses Friday following the Union Budget's ignoring a long-standing demand by the sector on FDI limits.
Employees of PSU and private banks, except State Bank of India, will go on a day-long strike on July 28 to oppose outsourcing of jobs, demand one more pension options and fresh recruitment of staff.
Finance Minister Arun Jaitley on Friday tabled the pre-Budget Economic Survey in the Lok Sabha.
In an hour-long chat on rediff.com on Friday, A K Prabhakar, senior VP and Head -- Equity Research (Retail), Anand Rathi Financial Services Ltd, discussed the best stocks to put the investors' money in.
India's equity markets are on a roller-coaster ride, after delivering spectacular returns for two consecutive years - in 2020 and 2021. The benchmark National Stock Exchange's (NSE's) Nifty50 is down 1.5 per cent in the first nine months of the current calendar year 2022 (CY22) as foreign portfolio investors sold Indian stocks due to rising bond yields in the US and across global markets, including India. The sell-off in the Indian equity markets has, however, not been broad-based and largely limited to sectors facing earnings headwinds from rising interest rates, lower commodity and energy prices, and likely economic recession in advanced economies.
Ahead of the Budget, the government has achieved almost half the divestment target of Rs 65,000 crore. FY23 divestment receipts are unlikely to be anywhere close to the budgeted target.
When a former police constable was appointed Gujarat unit chief, everyone was surprised. Now workers are laying bets on when he will be elevated to the Union Cabinet, notes Aditi Phadnis.
The Bharatiya Janata Party regime will have to make good on this election slogan to restore state-owned banks to health, says Rajiv Lall.
The petition has also made the Ministry of Finance and the bank as parties in the case.
Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&M, falling up to 3.09 per cent.
The Adani group has the maximum number of companies in the trillion club at five, followed by the Tata group (four).
In a thread of tweets, Mallya claimed, "The airlines struggled financially partly because of high ATF prices. Kingfisher was a fab airline that faced the highest ever crude prices of $ 140/barrel. Losses mounted and that's where banks money went. I have offered to repay 100 % of the principal amount to them. Please take it."
Investors booked profits in range-bound trade, led by PSU, oil & gas, energy, infrastructure, telecom, realty, healthcare, bankex, FMCG, capital goods and power counters.
Expressing the government's commitment to continue with reforms, Finance Minister Nirmala Sitharaman on Thursday assured India Inc that it is ready to do everything required to revive and support economic growth hit by the COVID-19 pandemic. Stressing that there is a need to promote growth as it helps bring down poverty, she however said it would not be at the cost of inflation. RBI has been mandated to keep inflation at 4 per cent, with tolerance level of 2 per cent on either side.
Risk sentiment received a boost after eight core sectors grew to a five-month high of 4.9 per cent in August
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