SBI set to buy residential properties of Air India in south Mumbai
With the 50 bps rate cut now more banks are expected to reduce their base rate.
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
This came even as the airline recorded the fastest domestic passenger growth rate of 26 per cent.
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.
Steep volatility in the markets has made fund managers cautious, awaiting opportunities to deploy the cash.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
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.
The fund industry may have embraced machines and robots, but managing money still needs the human touch
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Chandresh Nigam will join Prudential-ICICI MF in July as senior fund manager (equity), and will report to Dileep Madgavkar, vhief investment officer.
'The overall stress on asset quality is indeed coming down.'
Those who are on the old lending rate regimes and have not moved to MCLR, will be benefited from this reduction.
Kolkata-based United Bank of India, which had earlier declared Kingfisher Airlines and its four directors, including Mallya as wilful defaulters, on Tuesday identified UBHL, the guarantor of the grounded Kingfisher Airlines, also a wilful defaulter.
SBI to e-auction over 300 properties on March 14.
J M Mutual Fund's chief investment officer (equity) speaks about his stock picking strategies. He says he is a firm believer in focusing on companies than on sectors.
'SBI is already too big. Too big to fail.' 'It already is a moral hazard. What will it do with 20,000 branches that it cannot do with 14,000, especially in these days of online and mobile banking?'
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.
SBI had a tough journey in the last 40 years.
SBI's net profit for the quarter rose 30.3% to Rs 2,910 crore ($468.4 million), from Rs 2,234 crore a year earlier on the back of rise in net interest income, fees, and control on employee costs.
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.
The move is likely to help 4.59 lakh housing units across the country.
MFs have garnered record assets in the past one year, led by increased investor participation through SIPs and robust returns in mid-cap schemes.
The Arun Jaitley-led finance ministry reiterated banks should act tough on wilful defaulters.
While the proposed new tax regime is optional for taxpayers, the finance minister has said the government eventually wants to do away with all exemptions with a lower tax-rate simplified structure.
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.
Union Bank of India, Canara Bank, Andhra Bank, Saraswat Co-operative Bank and YES Bank have come together to allow inter-bank fund transfers through debit cards.
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.
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.
'We are working with a few housing finance companies to drive affordable lending because that's where we believe our sweet spot is.'
Now govt employees to enjoy greater say in how their NPS corpus is invested. Younger employees should raise their allocation to equities in this very long-term investment instrument
Only NIIF has stayed the course as a viable infrastructure financing institution.
In an interview with Business Standard, Arundhati Bhattacharya says she expects stalled projects coming back on track in two quarters.
The IPO-bound national insurer LIC is not only the largest holder of government debt -- owning 19 per cent of the G-secs -- but also the single largest owner of equities, the largest fund manger as well as holder of household savings, dwarfing even SBI deposits, as per a report. Holding 17 per cent of the over Rs 80.7 lakh crore dated government securities, maturing by 2061, the Reserve Bank is the second largest holder of government debt, while led by public sector banks, commercial banks collectively own around 40 percent. Other insurers cumulatively own only 5 per cent.
LIC is one of the largest Indian shareholders in the country's largest car maker, with a 6.93% stake.
SBI chairman Rajnish Kumar said Naresh Goyal would be eligible to bid for the airline when the lenders auction it next month.
