Only a small percentage of passengers who traveled on the trains involved in the June 2, 2023 accident in Odisha had availed of travel accident insurance while booking their tickets online on the IRCTC portal.
Rising crude oil prices, traction in China equities and inflation concerns back home are casting a shadow on the Indian equity markets in the short term, believe analysts at Jefferies. They said this could see the markets remaining range-bound in the near term before the next leg up.
Demonetisation of the high value currency notes of Rs 500 and Rs 1,000 did not have any discernible impact on currency in circulation (CIC) in the country, which has soared by almost 83 per cent since its announcement on November 8, 2016. The Supreme Court on Monday upheld the decision of the government on demonetisation. On November 8, 2016 Prime Minister Narendra Modi had announced demonetisation of old Rs 1,000 and Rs 500 banknotes and one of the key objectives of the unprecedented decision was to promote digital payments and curb black money flows.
Since January this year, RBI has cut the repo rate - at which it lends to commercial banks -- to a gross of 1.25 per cent.
Bigger state-run banks such as Bank of Baroda, Punjab National Bank and Union Bank have also seen their bad loans rising in the December quarter.
Collectively, the pack of 12 has posted a 50 per cent rise in profits -- Rs 25,685 crore. On a quarter-on-quarter basis (that is, September over June), the rise is 68 per cent. Public sector banks have never had such a stellar performance, explains Tamal Bandyopadhyay.
The sharp rise in home loan rates of private sector banks is forcing their customers to switch loyalties.
However, the country has not put any restrictions on the entry of new foreign banks, since it wants a reciprocal gesture as Indian banks increasingly are plan to expand overseas.
India has brought down the number of people living below $1 a day by 2 percentage points to 24.3 per cent in three years up to 2005, as Asia's third-largest economy accelerated to 7 per cent plus growth in those years, latest data from the World Bank revealed. In absolute numbers, 9.6 million people came out of poverty between 2002 and 2005, the largest reduction between two consecutive surveys released by the World Bank since 1981.
'When you do some job for a few hours, you are hardly earning enough to survive.'
Analysts say there is still no visibility of earnings improvement.
Indian Bank plans an initial public offer in July 2004 to raise capital for funding its expansions, its chairman Ranjana Kumar said on Tuesday.
We, as loan borrowers never try to find out the intrinsic details while applying for loan as we are in hurry but find certain policies strange and betrayal by bank when we actually encounter them.
Monetary transmission has been an issue for the Indian banking sector.
The Bank's projections show that developing countries face a financing shortfall of $270 to $700 billion this year, as private sector creditors shun emerging markets, and only one quarter of the most vulnerable countries have the resources to prevent a rise in poverty.
Indian state-owned Bank of Baroda said on Monday it would cut its prime lending rate by a quarter percentage point to 10.75 per cent from June 1.
Systemically important banks are subjected to higher levels of supervision to prevent disruption to financial services in the event of any failure.
S&P Global Ratings on Monday cut India's economic growth forecast for current fiscal year to 7 per cent, but said the domestic demand-led economy will be less impacted by the global slowdown. S&P had in September projected the Indian economy to grow 7.3 per cent in 2022-23 and 6.5 per cent in next fiscal year (2023-24). "The global slowdown will have less impact on domestic demand-led economies such as India... India's output will expand 7 per cent in fiscal year 2022-2023 and 6 per cent in next fiscal year," S&P Global Ratings Asia-Pacific chief economist Louis Kuijs said.
Asian Development Bank (ADB) has kept its outlook for India's economic growth unchanged at 7 per cent for the current fiscal year while forecasting a weaker-than-previously expected pace for developing Asia. ADB's 7 per cent growth projection for fiscal 2022-23 (April 2022 to March 2023), unchanged from its September forecast, compares to 8.7 per cent GDP growth in 2021-22. For 2023-24, the GDP growth has been kept unchanged at 7.2 per cent.
Many stalled projects are about to get going again, providing potential relief to banks, says T N Ninan.
'We will win all the 28 Lok Sabha seats in 2024.'
The move will have cascading effects for lot of related sectors
Senior bankers are trying to impress upon the central bank that the shift to external benchmark-linked lending be postponed to April 1, 2020.
Enforcement Directorate officials who recovered over Rs 17 crore from the residence of a businessman in Kolkata, found 10 trunks on the spot.
RBI had last week announced a 0.5 per cent increase in cash reserve ratio to 5.5 per cent in two phases to absorb excess liquidity from the economy and check rising prices.
Mortgage lender HDFC Ltd on Wednesday announced an increase in its benchmark lending rate by 5 basis points (bps), a move that will make loans dearer for both existing and new borrowers. This is the third hike effected by HDFC in the last one month. "HDFC increases its Retail Prime Lending Rate (RPLR) on housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 5 basis points, with effect from June 1, 2022," the housing finance company said in a statement.
NPA percentage in loans may touch 10% by March 2013, up from 5% in March 2011.
With a loan book of $268 billion, India's retail banking is now ahead of Russia, Malaysia and Mexico but behind China, Brazil and Thailand
ICICI Bank today hiked its home loan rates by 0.50 per cent with effect from May 8.\n\n
Indian employers have robust hiring intentions for the next three months, with 49 per cent of companies planning to add more staff in the January-March quarter, as employers are positive about achieving sustained post-pandemic recovery, a survey said on Tuesday. According to the latest ManpowerGroup Employment Outlook Survey, hiring sentiment in India is the strongest reported in eight years, improving by five percentage points in comparison with the prior quarter and by 43 percentage points when compared with this time one year ago. The survey of 3,020 employers noted that 64 per cent expect to increase their staffing levels, 15 per cent anticipate a decrease and 20 per cent do not anticipate any change, resulting in a seasonally adjusted Net Employment Outlook of 49 per cent.
'Marginal rates will definitely affect the consumer's decision in entering a new transaction, but in reality, they don't affect much because banks/financial institutions have come up with step-up EMIs: 50% of home loans which exceed 15 years in India are prepaid, within 7-8 years.' 'This doesn't happen anywhere in the world.'
As the world celebrated International Day of Persons with Disabilities (PwD) on December 3, corporate India has kept up with efforts to make workplaces more inclusive and accessible. Organisations across sectors are taking initiatives such as equipping offices with practical work tools like Braille-friendly and voice-enabled lifts and screen readers. While inclusion has gained pace, only 11.3 per cent (or 3.4 million out of 30 million) Indians with disabilities have jobs.
'Looking back, there is every chance that I would not have opted for Kota.'' 'The biggest flaw is that your personality gets blocked.' 'It took me two years to get back to 'being human' again.'
Infrastructure bonds were launched by the RBI last year in a bid to help the government fulfill its plan to provide affordable housing to all by 2022
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