According to SBI executives, the aim is to do things efficiently with an eye on profitability, and get a feedback on areas, including which business to enter and which to exit.
Asset managers are betting big on ETFs these days.
Jio Financial Services, the demerged financial services unit of Reliance Industries, will be listed on bourses on August 21, according to an exchange notification. Jio Financial Services Ltd (JFSL) demerged from Reliance last month and is currently listed under a dummy ticker after its price discovery at Rs 261.85 but there is no trading happening in the scrip. The listing on BSE and NSE has been scheduled a day before FTSE Russell plans to drop JFSL from its indices.
Investors who issued units in liquid and overnight funds, as well as those with a short-term holding of less than 30 days, are likely to be impacted the most, say experts.
In an effort to grab a share of the hefty Diwali bonus to employees in government and corporate sector, country's largest lender State Bank of India may raise the interest rate on term deposit rates in next few days.
PCR is the ratio of provisioning to gross non-performing assets and indicates the extent of funds a bank has kept aside to cover loan losses. In December 2009, RBI had told all banks to maintain a PCR of at least 70 per cent by September 2010, to enhance their soundness.
The key assets put on the block include its entire stake in Reliance General Insurance Company, the third-largest private sector insurer, and a 49 per cent stake in Reliance Nippon Life Insurance, a joint venture with Nippon Life, which is among the top five private-sector insurance companies.
Balanced funds may be a good option for first-time investors.
Money managers have turned cautious about the technology space.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The draft scheme, seen by PTI, said it will provide an option and a respectable exit route to employees who have reached a level of saturation in their career, may not be at the peak of their performance, have some personal issue or want to pursue their professional or personal life outside the bank.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
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.
The economy may grow by around 7 per cent this financial year as estimated by the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), say economists with various organisations. The first advance estimates for 2023-24 will be released on Friday by the National Statistical Organisation (NSO), an exercise done for calculating ratios such as the fiscal deficit. The interim Budget will be presented on February 1.
The airline has struggled to pay salaries and vendors on time and its Rs 10,963 crore fund and non fund based facilities have now been assigned 'D' rating by ICRA - the seventh rating downgrade since March 2017.
SBI offers reward points for various types of banking transactions.
UTI, SBI, Reliance MF promote SIPs with low threshold. However, there are several hurdles. Mutual fund investments require the investor to have a PAN -- a big deterrent when it comes to tapping small and marginal investors. A big fear is that given the fickle nature of the stock market, rural investors might easily get scared when there is a downturn in the market.
Lenders are likely to convert part of the airline's debt into 11.4 crore shares at a consideration of Re 1 apiece as per RBI norms.
The governor made it clear that the RBI is aware of what's happening and acts accordingly, but doesn't make a noise about that, points out Tamal Bandyopadhyay.
State Bank of India has revised lending rates based on marginal cost of funds, a new methodology that will take effect from April 1.
Mop-up misses target as big FIIs skip issue.
One of the factors behind the rise in securitisation deals was State Bank of India's (SBI) decision to buy portfolio worth Rs 45,000 crore from NBFCs
Higher provisioning drags net profit down by 7.8 per cent.
'We are working with a few housing finance companies to drive affordable lending because that's where we believe our sweet spot is.'
SBI set to buy residential properties of Air India in south Mumbai
This came even as the airline recorded the fastest domestic passenger growth rate of 26 per cent.
Hindenburg Research has alleged that Adani Group was "engaged in a brazen stock manipulation and accounting fraud", a charge the conglomerate described as malicious, unsubstantiated, one-sided, and having done with malafide intention to ruin its share-sale.
With the 50 bps rate cut now more banks are expected to reduce their base rate.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Adani group firm Adani Ports & SEZ paid Rs 1,500 crore loan and promised to repay more as the embattled conglomerate mapped a comeback strategy after a sellout triggered by a damning report by US-based Hindenburg Research. Adani Ports and SEZ paid SBI Mutual Funds' due amount of Rs 1,500 crore on Monday and will also pay another Rs 1,000 crore of commercial papers due in March (as per the payment scheme), a company spokesperson said. "This part prepayment is from the existing cash balance and funds generated from the business operations," the spokesperson said.
Steep volatility in the markets has made fund managers cautious, awaiting opportunities to deploy the cash.
The fund industry may have embraced machines and robots, but managing money still needs the human touch
Only NIIF has stayed the course as a viable infrastructure financing institution.
The government has been pressing citizens to pay taxes and be compliant, but they have very little to show regarding improved efficiencies in the companies they themselves own, the fund managers said.
Those who are on the old lending rate regimes and have not moved to MCLR, will be benefited from this reduction.
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