Exuding confidence in sustaining the tempo of credit growth, public sector bankers said on Wednesday that consolidation in the public sector bank (PSB) space has given them a robust base to scale. The privatisation of PSBs can be done through divestment of government stake to a wider base of investors without haste. There is nothing to worry about at this point (high credit offtake) as underwriting standards and risk management are much better.
A retirement fund can be helpful for all age groups, but ideally one should start investing early to beat market swings and gain from compounding.
Flipkart claims to have more than 90,000 sellers on its platform.
Why did the company zero in on RBL Bank to understand the business of banking? While the M&M investors heaved a sigh of relief, one gentleman must have been all smiles after this, RBL Bank MD and CEO R Subramaniakumar, notes Tamal Bandyopadhyay.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
'This is not just the IREDA's IPO. It is the success of the ministry of new and renewable energy and of the renewable energy industry.'
'Modi knows the people here are opposed to this project, but he is using the might of government to push this port down our throats.'
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Many of India's sleepy state banks don't have the management capacity they need to tackle bad debts and deals at the same time, says Una Galani.
The size of Reserve Bank's balance sheet increased by 11.08 per cent to Rs 70.47 lakh crore as on March 2024, leading to the highest-ever dividend payout to the government, according to the central bank's annual report. In actual terms, the increase was Rs 7,02,946.97 crore over Rs 63.45 lakh crore as on March 2023.
Union Finance Minister Nirmala Sitharaman on Monday said banks need to focus more on being customer-friendly so that the process of availing credit becomes more hassle-free for borrowers. However, the minister made it clear that banks do not have to be lenient on credit underwriting standards by taking any adverse risks on a proposal. At a meeting between industry representatives and the finance minister, a startup founder in the baking business suggested for credit to be available hassle-free, to which largest lender SBI's chairman Dinesh Kumar Khara said a startup's worries are more on the equity side and assured full support in lending if sufficient equity is on the table.
Soon, there will be an exchange-like platform for trading in loans.
'Chinese are going bang, bang, bang building 30-35 reactors.' 'We should announce a programme of 50 new reactors and show that we mean business on the ground and not just announcements.'
'I tell those in their 20s that age is on their side and they should start exercising early.' 'Just like investing in good stocks, if they start early, they will get the multiplier effects of being healthy, fit and strong later in life.'
The World Bank must become Archimedes's lever to help change the world into a more prosperous, inclusive, and sustainable planet in the 21st century. The change in leadership now provides that opportunity, observes Ajay Chhibber.
The company declined to comment on the banks or NBFCs that would be providing the loans.
However, the tribunal rejected the plea by the Netherlands based vendors for filing an intervention application, saying the Dutch district court had no jurisdiction to order bankruptcy of Jet Airways.
Billionaire Mukesh Ambani's Reliance Industries has announced the contours of carving out of its oil-to-chemicals (O2C) business into an independent unit with a USD 25 billion loan from the parent, as it looks to unlock value by selling stakes to global investors like Saudi Aramco.
The combined interest payment for India's top listed companies, excluding financial and oil and gas firms, was up 15.2 per cent year-on-year during the six months ended March 2019, outpacing the change in net sales and operating profit.
The government will provide free visas to 5 lakh tourists visiting India, Finance Minister Nirmala Sitharaman said on Monday. Announcing measures to revive the tourism sector battered by Covid-19, Sitharaman said financial support would be provided to more than 11,000 registered tourist guides, travel and tourism stakeholders. She said once the visa issuance for international travel is restarted, the first five lakh tourists will be issued visas free of charge.
Vinicius Jr came off the bench to score once and set up another goal to steer champions Real Madrid to a 4-1 fightback victory over Espanyol.
Customers need to weigh whether they will be better off selling their mutual fund holdings or taking a loan against it.
Follow these 6 Cs of building good credit and your lender will never disappoint you!
The stimulus package announced by the government for the revival of the pandemic-hit economy has been found to be "inadequate", according to a Parliamentary panel report. The report of the department-related Parliamentary Standing Committee on Industry on the impact of COVID-19 pandemic on micro, small and medium enterprises (MSME) sector has noted that in the process of economic recovery post-first wave of the pandemic, the second wave has even more vigorously ripped the economy particularly the MSME sector. "The committee observes that the stimulus package announced by the government for the economic revival from the pandemic hit economy has been found to be inadequate as the measures adopted were more of loan offering and long-term measures instead of improving the cash flow to generate demand as immediate relief," it said.
The country's largest lender SBI on Saturday reported a 9.13 per cent rise in consolidated net profit to Rs 16,099.58 crore for the September quarter, weighed down by money it had to set aside for employees' impending wage and pension revisions. On a standalone basis, the State Bank of India (SBI) had a 8.03 per cent increase in the profit after tax for the reporting quarter at Rs 14,330 crore. However, the same was down 15.13 per cent compared to Rs 16,884 crore in the June quarter.
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Three PSUs, three private firms join bid to acquire 40% stake in Haldia Petrochem.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
As the Indian currency hovers around its lowest versus the US greenback, several smaller and mid-sized companies are expected to face rough weather as almost 44 per cent of the foreign loans taken by Indian companies remained unhedged. According to the data sourced from the Reserve Bank of India, Indian companies raised around $38.2 billion in the financial year ended in March. Of this, only 56 per cent of the loans are hedged while the rest of the foreign loans remain unhedged, thus risking the companies to forex volatility.
Authorities in New Delhi intensified security arrangements on Tuesday to stop the farmers' march from entering Delhi as the Singhu and Tikri borders were shut while the Red Fort complex was closed temporarily after peasants on their way to the national capital clashed with the police at the Shambhu border between Haryana and Punjab.
Turning down a request for Rs 200 crore (Rs 2 billion) working loan by Kingfisher, the SBI-led lenders consortium on Thursday asked SBI Capitals to chalk out a fresh revival plan for the cash-strapped airline in the next 2-3 weeks.
If they are made accountable, bad loan cases will shrink dramatically, recoveries will rise, and the NCLT process will be more manageable, asserts Debashis Basu.
'Considering Pai is putting his own personal money in Byju's, stakeholders in the company can look forward to more governance and transparency.'
The finance minister asked lenders to identify eligible borrowers and reach out to them and urged for quick implementation of a sustained resolution plan for the revival of every viable business.
Govt may grant infrastructure status to the aviation industry to enable it to access finances at cheaper rates
Being driven to abandon Indian middle-class values, asks Ajit Balakrishnan.
Large retailers are allegedly importing apparel made of Chinese fabric from Bangladesh at nil duty, under our free trade agreement with the latter country. However, the same agreement does not permit duty-free export from here.
Standard Chartered's India strategy will focus on wealth management while credit card will remain core to its business though will avoid competition with the country's private banks, said a senior executive of the British lender. "Our focus on wealth management and affluent clients are central to our existence. "We are strong in these areas and we want to grow in these areas.
>It's not easy to predict the market. But there are at least two positive factors to back the PSU banks, explains Tamal Bandyopadhyay.
The Reserve Bank may go for a final 25 basis points increase in the current rate hike cycle next week and a reduction would come in only by the end of third quarter of FY24, economists at Axis Bank said on Wednesday. As per media reports, RBI officials met economists on Tuesday, and the latter have suggested the central bank to go for a 25 basis points hike in key rates. Since May 2022, the RBI has hiked rates by 250 basis points, hurting borrowers and some are already concerned about loan tenors extending beyond their working lives as a result of the hikes.
