'The book captures Rana Kapoor's hunger for real estate leading to bungalows in Delhi, Mumbai, London and other cities; the multiple companies -- over 100 -- to fund his family's various ventures; the attempt to game the system by showing lower non-performing assets,' notes Joydeep Ghosh.
From the 30-share pack, 24 companies fell, with Yes Bank emerging as the top loser, dropping 8.36 per cent, followed by NTPC, M&M and Vedanta.
The Reserve Bank of India's action against Reliance Capital comes at a time when the Anil Ambani group was planning to make a comeback with the group company, Reliance Infrastructure, raising funds from the promoter family. As part of the comeback plan, Reliance Infrastructure received Rs 550 crore fund infusion from the Anil Ambani family. A month earlier, Reliance Power, a listed subsidiary of Reliance Infrastructure, also raised funds from its parent by issuing preferential allotment of shares thus increasing the stake of Reliance Infrastructure in the company.
A white-label ATM is similar to a normal bank ATM but is not owned by a bank, instead by a private ATM service provider.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
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.
With retail inflation surprising on the upside, the six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) is expected to increase the repo rate by 35-50 basis points (bps) in the review scheduled for September 28-30. According to economists, the central bank will continue to focus on bringing inflation down even though economic growth has remained sluggish. Data released by the government on Monday showed that the consumer price index (CPI)-based inflation increased by 7 per cent year-on-year (YoY) in August, thus, staying above the upper tolerance limit of the central bank for all the eight months of 2022.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'If someone fiddles us on our religion then we will pay back five times more to that person. We have proved that time and again.'
rediffGURU Mahesh Padmanabhan answers readers' personal income tax queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Small queues were witnessed at some bank branches on Tuesday for the exchange of Rs 2,000 notes against smaller denominations as part of the withdrawal exercise. As per the RBI guidelines issued on Friday, the exchange of Rs 2,000 facility is available from Tuesday. A person can exchange up to a limit of Rs 20,000 at a time without filling any form or requisition slip.
New offerings by banks are changing the way you transact.
Sustained foreign fund inflows and strengthening rupee are among the main reasons behind the market rally.
Ajit Mishra, vice president, Research, Religare Broking, answers queries on how to invest in stocks.
Meanwhile, for the fortnight ended March 20, deposits grew 11.42% y-o-y.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'Kindly advise about the following stocks. Can I hold or exit?'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Though most experts remain bullish on the banking space, they suggest investors buy only those banks whose NPAs are at a manageable level of 3% to 4% and there is credit growth or earnings visibility.
Want to spend more this festive season on your credit card? This is what it takes...
Top gainers in the Sensex pack included Bajaj Finance, ONGC, Yes Bank, HDFC, HCL Tech, Tech Mahindra, TCS, ICICI Bank and RIL, rising up to 3.57 per cent.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Banking stocks led by Yes Bank, ICICI Bank, Axis Bank and SBI came under heavy selling pressure
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
'For years, the RBI has been warning banks on probable frauds in bank guarantees and advised them to exercise due care.' 'PSB staffers feel their jobs are secured, hence there is no need to be vigilant and exercise financial prudence.'
Across Yes Bank branches, the busiest people were the relationship managers, trying to soothe nerves. Many were seen advising clients the situation was only temporary and that their money was safe.
First things first: For those wondering if they need to reapply, the answer is no.
'My suspicion is that most of the bonds were given by companies who had got contracts or who had benefited from policy changes by the government.'
From zeroing in on the best means for stake dilution to moving beyond microfinance, Bandhan navigates a tough path. Namrata Acharya reports.
Credit card issuers saw significant erosion of their card base during the July-September quarter as the Reserve Bank of India's (RBI) norms mandated deactivation of cards that have been inactive for a year. The second quarter of the current financial year saw outstanding cards-in-force decline by 2.55 million to 77.7 million. Prior to this, the industry, on an average, was witnessing a net addition of over 1.5 million credit cards a month as players became aggressive on the unsecured lending business after the pandemic.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Axis Bank's acquisition of Citibank's consumer finance business for Rs 12,325 crore - the second biggest deal in the Indian banking sector - is seen as a good deal at a good price. The acquisition enables Axis Bank to close the gap with competition in some key segments such as credit cards. At the same time, there are some key issues that are crucial for the deal's success, apart from the fact that it will take some time for Axis to reap the full harvest of its investment.
The decision by the Reserve Bank of India to introduce a unified regulatory framework on connected lending for all the regulated entities (RE) is expected to reduce the influence of business conglomerates in the Indian lending space, said bankers and experts. "Connected lending pertains to lending to related parties within the same business group. "While the RBI might appear more agreeable to allowing business conglomerates to own banking licenses, it deems it crucial to bolster regulations that would prevent conglomerate-owned banks from gaming the system," said Shivaji Thapliyal, head of research and lead analyst, YES Securities.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
In the broader market, BSE midcap and BSE smallcap indices underperformed the larger counterparts and ended flat with a negative bias.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
