Like everything else, the structure of banks may change, and banks may depend more on digital technologies and artificial intelligence for dealing with both their customers and employees.
Foreign currency loans raised by Indian companies nosedived to $210 million in the September quarter (Q2), 93.3 per cent less than the year-ago period when five firms raised $3.1 billion. The Q2 amount is the lowest since December 2003 quarter when India Inc raised $191 million. Companies cited volatility in the currency markets, sharp rise in interest rates in the United States, and fund availability in India as the main reasons behind the sharp fall.
Foreign ministers of G20 major economies will meet in the national capital on March 1 and 2 to deliberate on pressing global challenges amid escalating confrontation between Russia and the West over the Ukraine conflict that entered the second year this week.
Brokerage firms on Wednesday appeared divided in their calls on Larsen & Toubro (L&T) after the company's 2023-24 (FY24) October-December quarter (third quarter, or Q3) performance and guidance for the quarters ahead. While few stayed optimistic about the stock over future order inflow prospects, others saw increasing exposure to West Asia and fixed price contracts as a concern. In Wednesday's trade, L&T's share price closed at Rs 3,480 per piece, 4.22 per cent down from its previous day's close.
Congress general secretary (communications) Jairam Ramesh said they will pose three questions a day to Prime Minister Narendra Modi over the issue.
In her first address to a joint sitting of the two Houses in the new Parliament building in which she touched on varied issues ranging from insurgency to inflation, Murmu said a country can progress at a fast pace only when it defeats the challenges of the past and puts maximum energy into building the future.
As the Tata group inches closer to taking over Air India in January 2022, the $242-billion conglomerate will also inherit a stake in Kerala's Cochin airport. The Tatas would become the only airline to have an operational stake in a major Indian airport. The airport is a strategic hub connecting India to Middle East nations - home to the largest share of Indian migrant workers. In addition to Air India and Air India Express, private carrier Indigo also uses Cochin to ferry the lucrative 'Malayali Gulf traffic' to multiple locations like Jeddah, Riyadh, Sharjah, Dubai, Abu Dhabi, Doha, Kuwait and Bahrain, among others. According to regulatory filings, Air India has a three per cent stake in Cochin International Airport.
At over 6 per cent, most states in October had inflation rates above the Reserve Bank of India's target band of 2-6 per cent.
Eleven companies have launched their initial public offerings (IPOs) in December 2023, making this month the second-best December for public offerings since 1996. Collectively, they are raising Rs 8,182.7 crore this month. In December 2021, 11 companies raised Rs 9,534 crore. However, excluding December 2021, this month marks the best December for IPOs since 1996.
India's Right-wing has sought to own our democracy by making itself appear the stuff of majority, and sometimes, a national ethos older than the Constitution on which our democracy is based, argues Shyam G Menon.
Adani group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group. The group has maintained it complies with all laws and disclosure requirements.
'We may bite the bullet and draw up plans for privatisation.' 'If that is done now, the sale of the government stake will fetch money; a delay will see erosion in whatever value is left in these banks,' says Tamal Bandyopadhyay.
The Central Bureau of Investigation has started a preliminary enquiry looking into the Rs 950 crore (Rs 9.5 billion) alleged bad loan given by IDBI Bank to Kingfisher Airlines ignoring the company's negative credit ratings and net worth.
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.
Against an offer of 4.55 crore shares of Adani Enterprises Ltd, only 4.7 lakh were subscribed, according to information available from the BSE. Adani Enterprises fell almost 20 per cent to below the offer price of its secondary sale as all the seven listed companies of the conglomerate took a beating in the aftermath of Hindenberg Reserach alleged that the group was "engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades".
'Many countries believe that if they join BRICS, they will be seen as emerging countries and their stature will be enhanced.' 'G-20 still has common action plans while BRICS does not do that much.'
Higher for longer' may be the narrative in the developed markets, but interest rates might not stay high for very long in India, with a section of the market expecting rate cuts to begin this year. The six-member Monetary Policy Committee of Reserve Bank of India (RBI) decided to keep interest rates unchanged at 6.5 per cent in the April review - after hiking the policy repo rate in six previous meetings. RBI Governor Shaktikanta Das emphasised that the pause was only for the April policy and that the central bank was ready to act if the situation demanded.
'He's at best a holding-CEO. Not one who will re-imagine the bank,' a senior banker and former colleague tells Raghu Mohan about HDFC Bank CEO & MD Sashidhar Jagdishan.
Every 10 per cent rise in crude oil price will shave off around 0.2 percentage point (pp) from India's GDP growth and widen the current account by 0.3 per cent, says Nomura.
If investing in Bitcoin, adopt a three to five-year horizon and invest systematically to gain from its volatility.
Snapping its declining trend, retail inflation rose to a three-month high of 5.55 per cent in November on firming food prices, including vegetables and cereals, though it remains within the RBI's comfort zone of less than 6 per cent. Inflation based on the Consumer Price Index (CPI) was 4.87 per cent in October and 5.88 per cent in November 2022, the government data released on Tuesday showed. The previous high was 6.83 per cent in August and inflation had been on a decline since then.
Byju's, India's most-valued startup, has decided to put two of its key assets -- Epic and Great Learning -- on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firm's various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byju's amendment proposal, said the people familiar with the development. "This loan repayment proposal has been submitted to the lenders and conversations are going in the right direction," said a person in the know.
Modi wants the BJP to gets an additional 10% of the vote share from what it won in 2019. Plans are afoot to get new faces to replace MPs with poor chances of winning. Sources say more than 100 MPs are like to be axed, notes Modi biographer Ramesh Menon.
Alleging that Sanatana Dharma is against equality and social justice, Dravida Munnetra Kazhagam youth wing secretary and Tamil Nadu Youth Welfare Minister Udhayanidhi Stalin has said it should be eradicated.
The country's largest lender State Bank of India (SBI) on Wednesday reported a 69 per cent jump in its consolidated net profit at Rs 8.889.84 crore for the second quarter ended September 30 on account of decline in bad loans. The bank's net profit was Rs 5,245.88 crore in the July-September quarter of previous fiscal, SBI said in a regulatory filing.
Do not go for riskier options like co-operative bank only for the higher return. Even if you go for them, park only a small portion of your capital there, say Tinesh Bhasin and Sanjay Kumar Singh.
PNB has rich experience in the integration of commercial banks.
'We will see a lot of investments from the private sector.' 'As long as we are not impacted by some global events, I think we will be in a strong place.'
India and China agreed during their military talks on Sunday to stay in close touch and work out a mutually acceptable solution to the "remaining issues" in eastern Ladakh at the earliest, but there was no indication of clear forward movement in ending their three-year-long border standoff.
Mallya has denied that he had fled India and said he would comply with laws.
All India Anna Dravida Munnetra Kazhagam (AIADMK) interim general secretary Edappadi K Palaniswami (EPS) and ousted party leader O Panneerselvam on Tuesday moved the Madras high court against the sealing of the party headquarters by the Tamil Nadu government following violence there on July 11.
The Essar group, Jindal Steel and Power, Monnet Ispat, Bhushan Steel and the Avantha group have been asked to close deals by March-end.
Customers using e-commerce websites are young and techno-savvy.
State Bank of India, the nation's largest lender, has stopped processing transactions of Russian entities that have been sanctioned by the West over Moscow's invasion of Ukraine, sources said. To effect this, SBI has issued a circular as it fears that any transaction with entities or sectors under sanction will invite sanction on it as well, sources said. No transactions involving entities, banks, ports or vessels appearing on a US, European Union or United Nations sanctions list would be processed irrespective of the currency of the transaction, they said. Payments due to such entities have to be processed by other mechanism rather than through the banking channel, sources added.
Tata Sons stake in the group's listed companies is now worth Rs 9.28 trillion, up 34.4 per cent on a year-on-year (YoY) basis. In comparison, the Government of India's stake in listed central public sector undertakings (PSUs) is currently valued at Rs 9.24 trillion
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
The RBI, according to the source, wants details on the procedure followed for credit appraisal by the bank while giving loans to Videocon.
Who's telling the truth? The government? Or the high-profile group with interests in para banking, aviation, real estate and the media?
Who's telling the truth about the Sahara India group? The government of India? Or the high-profile corporate group with interests in para banking, aviation, real estate and the media?
Among index funds, the most popular products are funds tracking the Nifty 50 and Sensex, says Dwaipayan Bose, and explains the finer points of selecting the right index mutual fund.
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