The faster growth in bank credit than deposits is behind the present cash crunch, the Reserve Bank of India (RBI) has said.Year-on-year credit growth was 23 per cent till December 3, while deposit growth was only 15 per cent, as compared to RBI's projection of 20 per cent and 18 per cent, respectively, for 2010-11.
Amid the protests against leading e-commerce firms, Flipkart and Amazon, shipments through the online route in fact witnessed a double-digit growth every quarter.
The duo bought additional shares in pharmaceutical companies Lupin and Jubilant Life Sciences, along with Agro Tech Foods and NCC during Q2FY21
A home loan is a long-term contract, so do shop around before signing on the dotted line, advises Sarbajeet K Sen.
Dealers say that the full-year outlook remains negative with a projected contraction in retail sales of 15-35 per cent across segments, save tractors, which look set to clock a positive annual growth.
In the quarter gone by (Q3 of FY22), private lender HDFC Bank issued around 950,000 credit cards, its highest ever credit card issuance in any single quarter. Since the Reserve Bank of India (RBI) revoked the embargo on it in August 2021 to issue new credit cards, the lender has issued 1.37 million credit cards. This is according to a senior bank executive, who was present in an analysts' call after the lender's Q3 earnings. In Q3, we achieved the highest ever issuance, with 950,000 card issuances.
Sukanya Verma looks at Bollywood's extravagant bling fetish.
Shami reached the 100-wicket mark in his 56th game
At the end of May, out of 26,500 outlets about 60 per cent showrooms and 80 per cent workshops were operational across the country.
Brent crude oil price surged 4 per cent on Friday, following tension between Iran and the US. Airlines, however, have been unable to pass on the price increase to customers due to the soft demand.
A glamour-filled opening ceremony, featuring Bollywood personalities and all-girl English pop band TBC, performed for the Season 9 of the Indian Premier League, in Mumbai, on Friday.
While analysts remains overweight on financials, property, discretionary, industrials and materials, they maintain a neutral stance on pharma, telecom and energy; and underweight on staples, utilities, and IT services.
The biggest headwind to the consumption story in FY23 is a sharp decline in government subsidies on food, fertiliser and fuel, and overall decline in revenue expenditure net of interest payments. This, analysts say, will adversely impact purchasing power of households at the lower end of the income pyramid, translating into lower spending on consumer goods and services.
India Inc's cash pile was up 13.8 per cent last fiscal year, thanks to a combination of higher profits in sectors such as IT and fund raising by top companies such a Reliance Industries, Bharti Airtel and Tata Motors, among others.
Airlines operated at much lower capacity of about 27% this July compared to July 2019 level, but there was a marginal rise over the 25% capacity achieved in June 2020.
India's bowling coach Bharat Arun claimed the team's fast-bowling strength has never been more 'exciting' with new find Khaleel Ahmed being the latest addition to the stocks.
Indian team boasts of world's best spinners and it has enough experience in both bowling and batting to outwit hosts England during the upcoming series, said former coach Anil Kumble.
Alia says cheers to 2021, Neha has a lot of expectations.
While slowdown was prominent in vehicle loan segment, home loans growth improved to 18.7% in May 2019 from 15.5% a year ago.
Net sales growth for the quarter ended December (Q3FY20) was 4.5 per cent on a year-on-year (YoY) basis for companies that have declared their results so far, compared to an 8.4 per cent rise in the first half of the financial year. This indicates that there could be a further rise in days' sales of inventory.
The GDP growth is estimated to come at the "deceptively high" level of 20 per cent for the April-June 2021 quarter but is far below the same in the pre-COVID times, rating agency Icra said on Wednesday. Icra said the low base of the last year, when the GDP had contracted by close to 24 per cent, "conceals" the impact of the second wave of COVID-19 infections. Economic activity is boosted by robust government capital expenditure, merchandise exports and demand from the farm sector, it said, estimating the GDP to grow by 20 per cent and the gross value added (GVA) will register a growth of 17 per cent for the June quarter.
Even as most manufacturers are still assessing the overall impact on their businesses, early projections suggest the market may grow at its lowest ever rate, in 2020.
The cast of Bareilly Ki Barfi screened their film for their friends in Mumbai.
Wipro Limited Revenue increased by 36% Year on Year (YoY) to Rs. 65.07 billion (Rs. 6,507 Crores);
Investors should await consistent growth metrics before looking at an investment in the company.
Employees of some top Indian companies were in for a pleasant surprise when they received a mail from their HR team announcing a hike in salaries and bonuses. Led by IT firms and start-ups, HR managers say that while some have offered cash and stock options, others are in a wait-and-watch mode and add the trend will pick up in other sectors. For example, IT giant Cognizant - which had an attrition rate of 19 per cent in the December quarter - has established a $30-million employee retention fund in order to bring down the high attrition rate.
India's second-largest telecom operator Bharti Airtel on Tuesday posted more than twofold year-on-year jump in its consolidated net profit for the March quarter to Rs 2,008 crore, buoyed by a lift in average revenue per user and an exceptional gain. The telco said its Q4 scorecard was backed by strong performance delivery across the portfolio and its CEO Gopal Vittal, in a statement, exuded optimism about opportunities in the coming years and Airtel being "well-poised" as a company. Airtel, which competes in the market with Reliance Jio and Vodafone Idea, as well as state-owned BSNL/MTNL, promised to maintain razor sharp focus on financial flexibility, optimising the capital structure and finance cost.
The two-wheeler industry was hit by an increase in insurance rates, liquidity crunch, poor sentiment, rural distress and uncertainty over the BS-VI regulations, among other factors.
The laggards include FMCG (16 per cent), Energy (37 per cent) and Media (34 per cent).
What worked for Airtel was that its data traffic growth was 13 per cent sequentially and its average data usage was even higher than Jio's at 11.9 gigabyte per month per user.
Companies also said confidence was yet to return among buyers, with many holding back their decision to buy cars.
If financials and oil sectors were removed, India Inc has done quite well.
However, despite Covid, Indian markets registered their best financial year performance in a decade, with the Sensex and Nifty50 rallying 68 per cent and 71 per cent, respectively, in FY21.
Bajaj Auto and TVS Motor are the largest exporters in the listed space with export revenues of Rs 12,000 crore and Rs 5,000 crore.
Sectors which recorded positive growth were coal, refinery products and fertiliser.
Ashwin missed three Test matches on the tour of Australia due to a left-sided abdominal strain, something that also made him miss a Test match in England.
A record-breaking year for the world's billionaires.
The adverse impact on the margins of auto, consumer staples and consumer durables sectors will be counterbalanced by an earnings uptick in the metals, cement and oil & gas sectors.
Social media was abuzz with posts ridiculing the PM's comment. The hashtag # #YoBadalSoMandela also began to trend on Twitter.
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