RCB's pace trio have combined picked up 33 wickets in a total of 90.5 overs bowled so far in IPL 2025.
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Union Finance Minister Nirmala Sitharaman will review the performance of regional rural banks (RRBs) after the Budget session of Parliament, according to two people familiar with the matter. The finance minister will review the performance of RRBs after August 13. The review will include discussions on enhancing the digital capabilities of RRBs, said a senior government official.
Call centres, once the engine room of India's BPO exports, are evolving too. Depending on the complexity, 30 to 50 per cent of voice and chat volumes are now handled by conversational AI.
The Lal Bahadur Shastri National Academy of Administration (LBSNAA) has issued guidelines to newly selected civil service candidates, advising them to be mindful of their social media posts, reject all forms of inducement, and maintain a high standard of conduct both inside and outside the academy.
'Along with Blackstone, we would be keen to look at opportunities in the North.'
The health of Indian banks continued to improve in 2021-22 with their balance sheet growing at double digits after a gap of seven years and their asset quality and capital position bettering, the Reserve Bank of India (RBI) said in its annual report on trend and progress of banking in India. At the same time, the banking regulator flagged the issue of slippages from restructured accounts. "Going forward, it is imperative that banks ensure due diligence and robust credit appraisal to limit credit risk," the report said.
Investor confidence in value mutual funds remains robust, with the category witnessing an inflow of Rs 1,556 crore in January, indicating a shift in their focus towards fundamentally strong yet undervalued stocks.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Index funds and exchange-traded funds (ETFs) have added a record number of investment accounts in 2024, buoyed by the sectoral and thematic investing euphoria that has spilled into the passive space.
'My advice: Don't mark your portfolio to market every day. Focus on survival.'
The Reserve Bank India's (RBI's) decision to ban the onboarding of new accounts on the "bob World" mobile digital platform led to a selloff in the Bank of Baroda (BoB) stock. The stock of the public sector bank dropped by around 3 per cent. The central bank cited "material supervisory concerns"; news reports claimed mobile numbers were randomly linked to accounts to purportedly inflate registrations on bob World.
The bad assets or gross NPAs of commercial banks fell to a 12-year low of 2.8 per cent in March 2024 and may go down further to 2.5 per cent by the end of the current fiscal, said the RBI's Financial Stability Report (FSR) released on Thursday. Scheduled Commercial Banks' (SCBs) gross non-performing assets (GNPA) ratio fell to 2.8 per cent, and the net non-performing assets (NNPA) ratio to 0.6 per cent at the end of March 2024. "The asset quality of SCBs recorded sustained improvement, and their GNPA ratio moderated to a 12-year low in March 2024. Their NNPA ratio too improved to a record low," said the June FSR.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
'The Budget must be pro-growth, focusing on infrastructure creation while also managing the fiscal deficit.'
Polarisation in the performance of Indian banks will persist as many large public sector banks are still saddled with weak assets, high credit costs, and poor earnings, S&P Global Ratings said on Thursday. It said State Bank of India and leading private sector banks have largely addressed their asset quality challenges, and their profitability is improving more sharply than the banking system. In its Global Banking Outlook-2023 report, S&P said economic recovery is driving credit costs to cyclical low levels and stronger balance sheets and higher demand should boost bank loan growth, but deposit growth will lag.
Private banks' net profit grew 26.3 per cent year-on-year (Y-o-Y) to Rs 48,982 crore in the first quarter ended June 2024 (Q1FY25) owing to healthy growth in credit and other income. The gross non-performing assets (GNPAs) increased with the end of dispensation granted during the pandemic, according to the data compiled by BS Research Bureau for listed 18 private banks.
A home insurance policy covers damage from earthquakes, fires, explosions, floods, landslides, cyclones, storms, aircraft damage, and acts of terrorism.
'Asset allocation should be driven much more by long-term factors rather than the market scenario at any particular point in time.'
Privately, many bankers admit their immediate goal is not growth but slowing the erosion of Casa deposits, reveals Tamal Bandyopadhyay.
Why try to time the market when time in the market works better? History shows that patient investors who stay the course often walk away with the real rewards, says Ramalingam Kalirajan.
Union Finance Minister Nirmala Sitharaman on Tuesday commended Indian financial sector regulators for doing a "world-class job" and bringing greater transparency into the system. Underlining that she is not against questioning or critiquing regulators, Sitharaman said there is a need to be "extremely conscious" about contributions made by them as well. Speaking at the Financial Express Best Banks Awards, the finance minister said, "I strongly recommend that facts are taken on board before we discuss anything to do with the regulators, strictly speaking."
'The demand for housing is always increasing, and so is housing shortage.'
'It's advisable not to go overboard on a banking sector fund or any other sector fund.'
Invest in these funds through the SIP route with at least a seven-year horizon.
Shares of ICICI Bank may outperform those of HDFC Bank in the near-term, analysts said recently, after the Sandeep Bakhshi-led private sector lender reported a strong set of numbers for the July to September quarter (Q2) of financial year 2023-24 (FY24). The result, they said, reiterated that ICICI Bank is maintaining a sustainable and prudent growth led by tech-driven initiatives as against HDFC Bank, which is facing merger related challenges. According to analysts at Prabhudas Lilladher, ICICI Bank is valued at par with HDFC Bank at 2.2x/1.9x on FY25/26E core adjusted book value (ABV) basis.
Banks enjoyed an expansion in Net Interest Margins (or NIMs) as well as in credit demand through the 2022-23 financial year (FY23). The credit expansion was because economic growth continued to recover from the Covid-19 years, and indeed, second half GDP growth surprised on the upside. The NIM expansion was because banks raised lending rates immediately (in many cases automatically due to floaters) as the Reserve Bank of India (RBI) hiked policy rates, and only started raising deposit rates late into the fiscal.
Continuing buying interest across the pack helped the Bank Nifty index improve its new high on Tuesday (May 30). The index of banking stocks ended Tuesday's session at 44,436, a gain of 124 points or 0.3 per cent. On Monday (May 29), Bank Nifty hit a new high after a gap of 166 days.
'They are ideal for short-term financial goals like children's education or a down payment for a house.' 'They are also useful for transitional savings, such as during job switches or while starting a business.'
Younger investors with long investment horizons may continue their SIPs.
'Probably revised guidelines will come, and then the real picture will emerge.'
ICICI Bank share price hits record high, ICICI Bank m-cap tops $100 billion: Shares of ICICI Bank have been on a steady uptrend, rising 30 per cent over the past one year; not far behind Axis Bank stock that surged over 34 per cent during the period. The BSE Sensex, meanwhile, is up 25 per cent, and the BSE BANKEX 22 per cent in the last one year, ACE Equity data shows. On Wednesday, June 26, ICICI Bank shares hit a fresh record high for the third consecutive day, rising 2 per cent on the BSE in the intraday trade.
SBI Mutual Fund recently launched the SBI Quant Fund. Its new fund offer (NFO) opened on December 4, 2024, and will close on December 18, 2024. Currently, 11 fund houses manage quant funds with assets worth Rs 9,013.6 crore.
Re-rating of Axis Bank's stock may continue in the near-future, believe analysts, as the risk-reward on the stock remains favourable amid healthy financials. The bullish stance comes after the Mumbai-based lender delivered a strong outperformance in the March quarter of fiscal year 2023-24 (Q4FY24) on core pre-provision profit and net profit, with improving asset quality. Axis Bank's net interest margin (NIM) expanded, against expectations, even in a tough market.
Mahindra & Mahindra on Wednesday posted a 20 per cent increase in its consolidated net profit at Rs 3,283 crore for the first quarter ended June 30, 2024. The Mumbai-based company had reported a profit after tax of Rs 2,745 crore in the year-ago period. Revenue rose 10 per cent year-on-year to Rs 37,218 crore as compared to Rs 33,892 crore in the June quarter of last fiscal, the company said.
'Retail investors, who had not seen such a massive correction in the SMID universe since COVID-19, are witnessing something like this for the first time. Panic profit booking may continue.'
Kotak Mahindra Bank on Saturday reported a 25 per cent growth in its March quarter net profit at Rs 5,302 crore, limited by a drop in the core income due to narrow interest margins. On a standalone basis, the city-headquartered lender's Q4 net profit grew 18 per cent to Rs 4,133 crore. The FY24 consolidated net profit grew 22 per cent to Rs 18,213 crore.
Fitch Ratings on Monday said it expects a moderately worse sector outlook for Indian banks for the next fiscal beginning April 1 based on muted expectations for new business and revenue generation, and deteriorating asset quality. Fitch believes that the disproportionate shock to India's informal economy and small businesses, coupled with high unemployment and declining private consumption, have yet to fully manifest on bank balance sheets. The rating agency said the impact of the COVID-19 pandemic is likely to pose challenges to Indian banks' improving financial performance once asset-quality risks manifest in the financial year ending March 2022.
'The intensity and frequency of heatwaves will be much higher than in previous years over Punjab, Haryana, Rajasthan, Gujarat, Madhya Pradesh and Odisha.'
Net NPAs increased to Rs 36,260 crore in the December quarter from Rs 34,843 crore in September and Rs 33,116 crore in December 2023, observes Tamal Bandyopadhyay.
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