'There has been a change in the advances mix, with the share of corporate loans decreasing.'
'It is nice that the banking system is in good shape.' 'It is a little early to call it too good because I think it was too bad in the past.'
It is 10 years since Bandhan Financial Services became the first microfinance institution (MFI) to receive the universal bank licence. A year later, in 2015, it started operations. Bandhan's entry into banking was seen as a vote of confidence by the Reserve Bank of India (RBI) for the country's microfinance sector. Subsequently, the RBI awarded small finance bank licences to nine MFIs.
We'll need to wait a couple of years to see how many restructured loans turn bad and whether some banks fall victim to their obsession for growth, explains Tamal Bandyopadhyay.
To educate customers on the modus operandi of financial fraudsters and share inputs on safe banking habits, banks are now coming up with awareness campaigns aimed at preventing customers from falling into the trap of fraudsters.
Banking technology start-up Zeta is the latest entrant to the unicorn club after raising $250 million in its Series C round from SoftBank Vision Fund 2. Sodexo participated as an additional minority investor in the round. Founded by serial entrepreneur and billionaire Bhavin Thurakia, the startup is now valued at $1.4 billion. It is the 14th company this year to cross the $1 billion valuation mark after Meesho, Cred, Pharmeasy, ShareChat, Moglix and others.
YES Bank, Bank of Baroda, SBI, IndusInd Bank, and RBL Bank are amongst the banks, Jefferies says, are most prune to "high risk" emanating from ADAG, Cox & Kings, CG Power, DHFL and Essar Shipping.
M&M was the biggest loser in the Sensex chart, falling 6.39 per cent, followed by Tech Mahindra, Nestle India, Bajaj Finance, Axis Bank, ITC, JSW Steel, HDFC Bank and RIL. On the other hand, Sun Pharma, Tata Motors, Bharti Airtel, L&T and Infosys were among the winners, rising up to 2.10 per cent.
A day after the Reserve Bank of India's (RBI's) Monetary Policy Committee hiked the policy repo rate by 50 basis points (bps), several commercial banks, including ICICI Bank and Bank of Baroda, raised their external benchmark-linked loan rates by an equal amount on Thursday. HDFC, the country's largest mortgage lender, too, increased its interest rates on housing loans by another 50 bps. In total, it has raised rates by 85 bps since May 4, when the RBI had increased the repo rate by 40 bps in an off-cycle meeting.
'The expeditious enactment of labour codes and strategic measures to bridge the skills jobs gap are critical.'
India may adopt norms similar to the US Federal Reserve model, which regulates conglomerate-led banks in the country.
'Opportunity is there in each segment of the market. There is opportunity in affordable and specifically governed by government initiatives as well as for housing for all.'
The drop in net interest margin will separate the men from the boys, explains Tamal Bandyopadhyay.
FDs are not advisable for long-term wealth creation as their post-inflation, post-tax returns are not very attractive.
MakeMyTrip, RBL Bank, Inox wind and IRCTC are among the firms that have made it to the Fortune Next 500 list of Indian companies.
The NCMC facilitates convenient travel while integrating last-mile connectivity, a must in India's extensive landscape. It enables travellers to pay for a cross-section of needs, including toll tax, retail shopping, and withdrawing money.
'Facilitating conversion of well-run NBFCs into banks is urgently needed.'
Not all public sector banks are back in the black, but their collective net profit for the year is Rs 32,346 crore against a Rs 9,013 crore loss in the previous year, points out Tamal Bandyopadhyay.
Nearly two million e-mandates for recurring payments have been registered with banks and card networks after the Reserve Bank of India (RBI) made it mandatory from October 1 to take prior consent of a customer before debiting her account, sources in know of the matter said. Industry estimates peg the recurring transactions at approximately 2.5 per cent of the total volume of transactions, and about 1.5 per cent in terms of value. Of these, around 75 per cent of domestic recurring transactions, and about 85 per cent international recurring payments are below Rs 5,000.
Banks are pushing into credit cards and personal loans, using blanket advertising, cold call campaigns and even sending employees to malls to lure customers.
If the banks throw caution to the winds for building loan books, the hydra-headed bad loans may resurface and spoil the party, warns Tamal Bandyopadhyay.
While Gupta, 60, can rightfully bask in the glory he has achieved for his bank in the subcontinent, his peers in foreign banks will have to revisit their India play, especially the local incorporation model, says Raghu Mohan.
A total of 25 companies raised Rs 28,220 crore during the financial year.
Backed by technology banks are expanding the branch network - and adding more to the workforce.
Credit card issuers saw significant erosion of their card base during the July-September quarter as the Reserve Bank of India's (RBI) norms mandated deactivation of cards that have been inactive for a year. The second quarter of the current financial year saw outstanding cards-in-force decline by 2.55 million to 77.7 million. Prior to this, the industry, on an average, was witnessing a net addition of over 1.5 million credit cards a month as players became aggressive on the unsecured lending business after the pandemic.
The RBI also looked into the effectiveness of systems and processes for implementation of KYC norms
After a gruelling 24 hours, the PhonePe team has fully restored UPI on the payment platform. The app is up and running again with ICICI Bank as its new partner with all payment instruments enabled.
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
Asserting that not allowing its officials to withdraw their salaries was in breach of Vienna Protocol, Pakistan has also threatened that in case the matter is not resolved soon, it may consider retaliatory action against salary disbursal for Indian diplomats there.
Apart from SBI, UPI 2.0 partner banks are HDFC Bank, Axis Bank, ICICI Bank, IDBI Bank, RBL Bank, YES Bank, Kotak Mahindra Bank, IndusInd Bank, Federal Bank and HSBC.
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Reliance, Birla Group, Airtel eye small finance banks.
Analysts believe that investors should look at stocks that hit 52-week lows only if they have a dividend paying track record, are debt-free and have sound fundamentals.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
Investors took the Yes Bank event negatively because it raises a question on the stability of the overall Indian financial system.
Around 75 per cent, or 372 stocks, that are part of the BSE500 are trading at least 10 per cent below their all-time high levels, despite the index hitting a record high 20,515 points on the BSE in intra-day trade on Wednesday, surpassing its previous high of 20,390 touched in March 12. The index, which accounts for 93 per cent of BSE listed companies' market capitalisation, has gained 8 per cent from its recent low of 18,983, touched on April 19. In comparison, the benchmark S&P BSE Sensex gained 6 per cent over the same period, but is still nearly 4.5 per cent away from its all-time high of 52,517 that it hit on February 16.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Lenders taking up incubator-style roles with small investments in start-ups
'The impact of CEO transition is fairly even for stocks, with about half (53 per cent) of the events not producing any change in the relative performance of the stock.'
Crisil Research expects retail inflation to rise 60 basis points to 4 per cent this fiscal from 3.4 per cent in 2018-19.
The amount you can raise via a gold loan is higher than you can get via a personal loan.
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