rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) will answer your personal finance-related questions.
The branch managers have come out of their glass cabins and the sellers' market has transformed into a buyers' market, but there is no end to the harassment of customers, asserts Tamal Bandyopadhyay.
The bad assets or gross NPAs of commercial banks fell to a 12-year low of 2.8 per cent in March 2024 and may go down further to 2.5 per cent by the end of the current fiscal, said the RBI's Financial Stability Report (FSR) released on Thursday. Scheduled Commercial Banks' (SCBs) gross non-performing assets (GNPA) ratio fell to 2.8 per cent, and the net non-performing assets (NNPA) ratio to 0.6 per cent at the end of March 2024. "The asset quality of SCBs recorded sustained improvement, and their GNPA ratio moderated to a 12-year low in March 2024. Their NNPA ratio too improved to a record low," said the June FSR.
As the fight for deposits intensifies, the cost of money will rise and the margin will be under further pressure, points out Tamal Bandyopadhyay.
The Pradhan Mantri Awas Yojana-Grameen has the highest unutilised amount (Rs 13,111 crore) compared to any other centrally sponsored scheme.
State Bank of India, Adani Ports, Tata Consultancy Services, ICICI Bank, Reliance Industries and PowerGrid were also among the laggards.
Usually, banks will offer a lower credit limit to a first-time borrower and subsequently increase it as the borrower builds a repayment track record.
The April-June quarter (Q1) of the current financial year (FY25) may be soft for banks with loan growth moderation, net interest margin (NIM) pressures, and higher staff and credit costs inching up, according to analysts. Credit growth could ease due to the lagged impact of the Reserve Bank of India (RBI) tightening and deposit growth has weakened, and the current account and savings account (CASA) ratio has declined 10-370 basis points (bps) quarter-on-quarter (Q-o-Q) for many banks.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
10 largecaps stocks which stand to gain from the Budget.
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'With a very stable technology with limited functionalities, a large network has spanned out.'
The Department of Posts was one of the 11 entities to get the in-principle nod from the Reserve Bank of India in 2015 for setting up a payments bank.
'We plan to launch new initiatives, including cash flow-based lending, to ensure borrowers are not burdened and can access funds more quickly.'
The RBI also allowed banks to levy ATM charges beyond 5 transactions for the same bank's account holders.
But what do banks gain by opening their apps for all? The answer -- rival bank's customers under their fold.
Investments made in liquid funds, which invest in short-term debt instruments, offer better returns for retail investors than parking money in savings bank account, says a study.
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
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Kotak Mahindra Bank's loan and deposit growth are likely to be affected after the Reserve Bank of India (RBI) asked the private-sector lender not to take on board new customers through the bank's online and mobile banking channels and not to issue any new credit cards, according to analysts. The bank's share price fell 10.85 per cent on Thursday to close the day at Rs 1,643 on the BSE. The RBI's action came after market hours on Wednesday.
Real estate developers are hoping that the slew of tax concessions announced in Union Budget 2025, set to take effect this financial year, will spur demand for affordable and mid-segment housing, even as the broader housing market shows signs of fatigue.
A special court on Friday dismissed the petitions of Anil Verma and Purnima, son-in-law and daughter of Satyam scam accused B Suryanarayana Raju, seeking direction to the CBI to defreeze their savings bank accounts and fixed deposits.
For over a decade, HDFC Bank consistently outperformed industry growth rates in both deposits and advances, maintaining impeccable asset quality. Amid a landscape where other banks struggled with soaring non-performing assets (NPAs), HDFC Bank thrived, eventually surpassing ICICI Bank to become the largest private sector lender in India. Its net interest margin (NIM) remained stable in the range of 4.1-4.4 per cent.
The current limit of Rs 24,000 per week has been raised to Rs 50,000 for savings accounts.
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By staying informed and focusing on legitimate job openings, candidates can navigate the job market more effectively and safeguard their career aspirations.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
A special court in Mumbai denied bail to businessman Sujit Patkar, an aide of Shiv Sena (UBT) MP Sanjay Raut, in the alleged COVID treatment centres scam. The court found that Patkar played with the "life of people" by under-deployment of doctors and staff to generate proceeds of crime. The Enforcement Directorate (ED) alleged that Patkar's firm, Lifeline Hospital Management, fraudulently obtained a contract for supplying medical staff at Dahisar and Worli Jumbo Covid facilities during the pandemic, resulting in the generation of proceeds of crime (PoC) amounting to Rs 32.44 crore. The court noted that there are ample statements of the witnesses to show that a list of more staff members was prepared than being deployed on the instructions of Patkar.
These schemes are a good choice for investors contemplating a large investment in equity funds. Instead of investing all the money in one go, they can do so in a staggered manner by parking it in these schemes and then transferring it to equity mutual funds through a systematic transfer plan.
In order to boost its deposit base, State Bank of India (SBI) is focusing on various segments, including JanDhan account holders, trusts, societies, and the segment below the affluent class but above the normal account holders. According to Ashwini Tewari , managing director, SBI, the bank is focusing on three broad segments. One is wealth banking, where the bank is focusing on individuals who perhaps do not qualify for private banking but are above regular accounts and require individual attention.
India's flexible (flex) office segment, having breached pre-pandemic levels, is thriving as corporates, startups, multinational corporations, and global capability centres (GCCs) expand in India, seeking low-capital yet Grade A plug-and-play facilities. In the first quarter (Q1) of 2025, the flex office segment continued to grow, with flex space leasing rising by 22 per cent to 2.2 million square feet (msf), according to Colliers.
The net financial savings of the household sector has moderated to 5.1% of GDP in FY23 from 7.6 per cent in FY20, as households shifted their savings to physical assets amid low interest rates during the pandemic, according to State Bank of India's (SBI) Research report.
rediffGURU Yogendra Arora answers readers' personal income tax queries.
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
When investing in fixed-income products, balancing considerations like safety, liquidity, and income is essential.
'Life does not change in such a way that everything becomes easy. Struggle and hustle is there for everyone. 'The difference is that people have started knowing me.'
Make deposits in your savings account before or on the 10th of every month.
Even as concerns grow over the residential real estate market reaching its peak, the outlook for office real estate remains strong, with listed real estate investment trusts (Reits) standing to benefit from sustained demand in the segment.
Allocation to bank deposits -- fixed deposits, savings account deposits, and current account deposits -- came down.
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