Tata AIG, ICICI Lombard and Nippon Life have evinced interest for the profit-making insurance arm of Reliance Capital (RCap), joining several prominent financial companies from India and abroad in the race for RCap's assets. The final day to submit an expression of interest (EoI) was March 25 and the bidders will now get access to the latest information about RCap before they make financial bids.
Collectively, the pack of 12 has posted a 50 per cent rise in profits -- Rs 25,685 crore. On a quarter-on-quarter basis (that is, September over June), the rise is 68 per cent. Public sector banks have never had such a stellar performance, explains Tamal Bandyopadhyay.
Sharma, one of the Mumbai police officers who were famous for killing gangsters in encounters, resigned from the police force in July.
The coming years could be exciting for Bandhan Bank, IDBI Bank, IDFC First Bank, Federal Bank, and CSB Bank.
With the rise in interest rates, bond yields have been on the rise; this will dent banks' treasury profits. Also, many retail borrowers may find it difficult to service their loans when the loan rates rise, points out Tamal Bandyopadhyay.
Blackstone, KKR, and Bain Capital, among others, are in the race for its general insurance arm, and Bandhan Bank, Bain, and Dabur Investments have shown interest for RCap's 51 per cent stake in the life insurance business.
The year 2022 saw the Reserve Bank of India (RBI) start acting on the policy repo rate after a gap of two years. The six-member monetary policy committee of the RBI reduced interest rate sharply - by 115 bps - when Covid-19 struck in 2020. In March 2020, days after the nationwide lockdown was announced, MPC in an unscheduled meeting reduced the repo rate by 75 bps, followed by another 40 bps in May. Status quo was maintained for the next two years since the May repo rate hike.
Not all public sector banks are back in the black, but their collective net profit for the year is Rs 32,346 crore against a Rs 9,013 crore loss in the previous year, points out Tamal Bandyopadhyay.
This Raksha Bandhan, Tusshar talks about his famous sibling.
Cuttputlli's absolutely absurd climax will have you rolling on the floor in unintended laughter, notes Sukanya Verma.
He joined the Indian Air Force in Hyderabad in 2000 and was currently posted at the Indian Airforce station in Sulur. Tamil Nadu.
It's been a festive weekend, thanks to Raksha Bandhan as well as Onam!
Start-ups Zomato, PB Fintech, One97 Communications, and FSN E-Commerce Ventures have entered the large-cap category after the latest reclassification exercise by the Association of Mutual funds in India (Amfi). This comes despite stocks such as PB Fintech (Policybazaar) and One 97 Communication (Paytm) trading below their issue price. Others such as Mindtree, SRF, IRCTC, Tata Power, JSW Energy have been moved from mid-cap to large-cap category.
As the curtain comes down on 2022, Roshmila Bhattacharya flashbacks to some of the year's news-makers and events.
If the banks throw caution to the winds for building loan books, the hydra-headed bad loans may resurface and spoil the party, warns Tamal Bandyopadhyay.
Are we teaching our children or are they teaching us? Divya Nair, mother of a little boy, wonders.
Vaani celebrates her birthday... Kajol wears new glasses...
Rediff.com Contributing Photographer Pradeep Bandekar met these stars over the weekend.
What connects P S Jayakumar of Bank of Baroda, V Vaidyanathan of Capital First Ltd and Chandra Shekhar Ghosh of Bandhan?
'I did a small role in Masoom.' 'Do you remember the scene where an old man brings Jugal Hansraj to Naseer's house?' 'I put on the full make-up of an old man and stood in front of Shekhar.' 'He had no choice but to take me.'
Bandhan Bank is the first bank to be launched in eastern India post Independence.
Sukanya Verma looks at mustard field memories of Bollywood.
Besides acting, he loves spending time with family and friends, so we won't be surprised if Ranbir keeps his birthday an intimate affair.
The third-quarter financials didn't excite market watchers. But equity investors can still make money if they invest in the right stocks.
Joginder Tuteja looks at stars with the most movies in the pipeline.
Joginder Tuteja looks at the actors who have scored the biggest openers in 2022 so far.
Sebi is reportedly examining the matter internally and has reached out to the fund house on the matter.
Yadav said all parties have joined hands against the BJP in the Bihar assembly, and added "now this is going to be replicated across the whole country".
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
/We will stay away from corporate loans,' C S Ghosh, managing director and chief executive officer of Bandhan Bank, tells Namrata Acharya.
This Raksha Bandhan, check how much you know about celebrity siblings.
Hina Khan has a special game for the housemates!
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Taimur, Alia, Aamir... celebrate Raksha Bandhan....
Folks, 2021 will see an Akshay Kumar film festival play out in the theatres.
Akshay can't stop grinning...Madhuri tells you to smile...
That's the only way to convince those who have money to return to the bank fold, ditching other asset classes, says Tamal Bandyopadhyay.
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