Earlier, the RBI cut its policy interest rate to 6.75 per cent.
The soft interest rate regime is now over with the rates on government securities likely to harden for at least two years, economic think tank Institute of Economic Growth has said.
Sharma would be 60 in November 2018, and would have completed 10 years as Axis Bank's CEO the following year in June.
The US Fed will decide if it should raise interest rates from near-zero levels first time in a decade.
Leading economists on Friday called for more fiscal measures to sustain the Indian growth story.
With the revision, term deposit between 180-210 days less than Rs 1 crore (Rs 10 million) would now earn 7 per cent against existing 6.80 per cent, SBI said in a statement.
You must remain invested in bank deposits, unless you are considering the idea of earning higher returns by moving to gilt or liquid funds, says Adhil Shetty, CEO, BankBazaar.com.
You require a credit score to get fresh debt and you must have existing debt to get a credit score... Confused? Well, here's how they are related.
'The current budgetary practice of shifting expenditures off-balance sheet in order to be seen to be meeting fiscal targets should be discontinued; additional fiscal stimulus would be imprudent; individual income tax rates should not be cut; GST rates should not be raised now,' advise Arvind Subramanian and Josh Felman.
Since 2016, when India was officially recognised in US law as a 'major defence partner', Washington has purposefully upgraded the defence relationship.
Gross non-performing assets of public sector banks have gone up.
'If the US intention was to use the FATF platform to isolate Pakistan and impose sanctions against it, that is not going to work when influential countries such as Turkey, Iran, Saudi Arabia, China and Russia will not lend support to the US campaign,' says Ambassador M K Bhadrakumar.
News of all that transpired on and off the football field.
However, the regulator dealt with the FIIs on expected lines and the meeting was over without Sebi spelling out any action against 'dubious' short sellers. Earlier on October 17, Sebi had written to all the PN-issuing FIIs to submit the data for stocks lent overseas in 2008 so far by October 23.
The Satyam Computer board plans to invite bids for a strategic investor in the next few days and expects to garner a healthy amount as investment, company chairman Kiran Karnik said on Monday.
In spite of ample liquidity, banks are treading cautiously as far as lending to the real estate sector is concerned, and are seeking collateral as high as 150 per cent of the loan amount as security deposit from them.
Sri Lanka's Chief of Naval Staff, Vice Admiral Jayantha Perera on Monday allayed India's fears on increasing Chinese military presence in the island nation, as he categorically stated that his nation will never compromise on India's national security or for that matter of any other country.
Analysts expect banks with a strong deposit franchise to benefit from SBI's rate cut as they too are likely to follow the leader.
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
Demonetisation is the biggest reason for the rise in preference for small savings.
'Investors should restrict themselves to a few category schemes with high quality portfolios apart from overnight and liquid funds.'
'Those who come from outside are surprised at the relatively small strength of the RBI supervisory cadre, relative to the needs of the country and the needs of the financial sector.'
HDFC Bank has ensured that no bank will be able to match them in the near future without bleeding on margins.
He said countries should work for promoting open and inclusive cooperation for win-win outcomes.
Security researchers with Kaspersky Lab have recorded more than 45,000 attacks in 99 countries, including the UK, Russia, Ukraine, India, China, Italy, and Egypt.
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The right sequence would be to gradually reduce SLR
Sukanya Verma looks at the various baap-beti equations depicted on the screen.
If the stock lending and borrowing scheme is to take off, the duration for which stocks are lent needs to be much longer; in Western markets, stocks are loaned for as long as six months and are far more flexible, with put and call options built in. In other words, the lender and the borrower can call for the shares or the money, even before the contract ends.
The mining baron and former Karnataka minister, Gali Janardhana Reddy, has spared no expense or effort to make sure that his daughter Brahmini's wedding is the biggest, fattest wedding that Bengaluru has ever witnessed.
Also says PSU banks divestment to be considered after improvement in governance
V Vaidyanathan, former executive director at ICICI Bank who turned entrepreneur to run Capital First, an NBFC that caters to smaller businesses, tells Pavan Lall in an exclusive interview that his new entity post the merger of Capital First and IDFC Bank which will be called IDFC First will launch by January and cater to a new India with value services.
Earlier this month, RBI had raised loan to value ratio to 75 per cent from 60 per cent earlier.
Banks are expecting a 25-basis-point increase in the repo rate (7.75 per cent at present) -- the central bank's short-term lending rate against government securities -- when the Reserve Bank of India announces its monetary policy on April 24.
The total quantum of non-performing assets in the Indian banking system increased to Rs 7.33 trillion as of June 2017, from Rs 2.75 trillion in March 2015.
The surge in oil prices has also affected the rupee, which hit a 6-week low of 70.25 on Friday against the dollar.
Prof Ananth Narayan, well known financial expert who works as a faculty member at the SP Jain Institute of Management and Research and the RBI's nominee director on the board of Yes Bank, expects a double-digit contraction in India's GDP this fiscal year. In the first of a two-part interview to Shobha Warrier/Rediff.com, Prof Narayan, below, says, "Giving liquidity and loan to cover the cash flow problem is not sufficient because you are essentially increasing the debt of many of these companies. And they might not be able to bear the burden."
With a sole mandate of inflation targeting, RBI wears many hats.
Tight bowling and fifties from Shikhar Dhawan and Dinesh Karthik helped India secure a series-levelling six-wickets victory against New Zealand in the second One-Day International in Pune on Wednesday.
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