Union Finance Minister Nirmala Sitharaman's call for making lending rates affordable may not resonate anytime soon as banks still struggle with margin compression, and await clues from the Reserve Bank of India (RBI) on liquidity and rate action. Hinting that any lending rate cut was some time away, State Bank of India (SBI) managing director Vinay M Tonse said there was still some aggression in the market regarding deposit pricing.
'You will see him frequently asking customers -- especially retail -- about service experience, pain points, areas of improvement and suggestions.'
'The FSIB will conduct interviews for the SBI chairman position on May 21-22 as the tenure of the current chairman Dinesh Kumar Khara is scheduled to end by August.'
'Largely, new demat accounts are now being opened by the younger crowd, particularly GenZ.' 'This is great news since younger investors start their journey with very little capital, so they are risking less.'
'It could tempt investors to pick stocks that are not fundamentally sound.'
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