Credit-to-deposit (CD) ratio of major public sector and private sector banks during the October-December quarter of FY24 inched up as compared to the previous quarter though government-owned lenders reported a lower rate than their private peers. CD ratio is the ratio of the funds that banks lend as compared to the funds raised in the form of deposits. The CD ratio of top public sector banks (PSBs) - State Bank of India, Punjab National Bank, Bank of Baroda and Canara Bank - was lower than their private counterparts.
Sashidhar Jagdishan, managing director and chief executive officer of HDFC Bank, the largest private-sector lender of the country, has just completed his first term. The period October 2020-October 2023 was a roller coaster, and the second one, which started on October 27, could be more interesting as the lender absorbs the impact of the merger of HDFC, which was integrated on July 1, and moves to the next growth phase. Soon after he took over the reins from Aditya Puri on October 27, 2020, the Reserve Bank of India (RBI) debarred HDFC Bank from enrolling new credit card customers and launching new products under the Digital 2.0 programme due to repeated outages on its mobile-banking and internet-banking platforms.
Idea Cellular will have to furnish an undertaking that it will entertain all the liabilities whenever a final decision is taken by the courts
The reconciliation efforts between Hockey India and Indian Hockey Federation suffered a setback on Friday, with the IHF rejecting the merger proposal in its current form.
Sun-Ranbaxy are keen to complete the merger process.
Uniproducts India Ltd approved the merger of HP Pelzer India Pvt Ltd with the company.
Reliance Industries closed more than half a per cent higher after the company announced a proposed merger of media and entertainment assets of Viacom18 with Star India. Hindustan Unilever, Bharti Airtel, Tata Motors, ITC, Tech Mahindra and Axis Bank were among the laggards.
The government on Saturday issued final guidelines for mergers and acquisitions within a telecom circle with the condition that the market share of merged entity would not exceed 67 per cent.
Idea may have to shell out Rs 4,500 crore in cash
Rallis India Ltd's board approved the merger of Siris India Ltd, a wholly owned subsidiary of the company, with Rallis India.
It may be the season for corporate matchmaking but India Inc's record of managing partnerships is far from impressive, says Shailesh Dobhal.
CCI to examine competition part of deals, RBI prudential aspects.
In August 2021, Nick Read, chief executive of Vodafone Plc at the time, did not mince his words while speaking about the India business in an earnings call. Replying to an analyst's question on Vodafone Idea, a venture with the Aditya Birla Group that had piled on huge debts and worrisome losses, Read described it as a highly stressed situation that "they (Vodafone Idea) are trying to navigate... "We, as a group, try to provide them as much practical support as we can, but I want to make it very clear, we are not putting any additional equity into India.''
BCCI will study the merger in New Zealand and Australia before it decides on combining with the Women's cricket board.
Family feuds, in what are essentially family-run outfits, have cast a shadow over the reunification efforts of Janata Party.
With the Bharatiya Janata Party falling short of a majority in the Lok Sabha and needing the National Democratic Alliance partners to form the government at the Centre, Bihar Chief Minister and Janata Dal-United head Nitish Kumar and Telugu Desam Party's N Chandrababu Naidu have emerged as potential kingmakers.
'SBI is already too big. Too big to fail.' 'It already is a moral hazard. What will it do with 20,000 branches that it cannot do with 14,000, especially in these days of online and mobile banking?'
A group of Air India unions on Friday asked Civil Aviation Minister Praful Patel to fix the accountability on those who are "sabotaging" the airlines merger process
Party sources indicated that there may be a meeting at the party headquarters on Monday where decisions could be made by the Palaniswami camp on the question of the "formal expulsion" of V K Sasikala.
'The government has put in a lot of effort to provide infrastructure for the industry.'
The proposed merger of state-owned carriers Air-India and Indian is expected to be completed in the current financial year, Civil Aviation Minister Praful Patel said on Monday.
Loan rates will change at the next reset, while deposit rates will continue till maturity.
The finance ministry is believed to have finalised the merger of Kolkata-based Industrial Investment Bank of India with Industrial Development Bank of India
Myntra CEO Ananth Narayanan, who was earlier against the merger of the two fashion e-tail companies, is learnt to be meeting each Jabong employee one-to-one.
On January 31, the US Federal Trade Commission cleared the merger.
"Subject to synergy, subject to reasonable similarity in culture, they (public sector banks) in the next 5-10 years really need to look at consolidation and merger," finance secretary Ashok Chawla said after launching the mobile banking service of Vijaya Bank in New Delhi.
Billionaire Mukesh Ambani's Reliance Industries and Tata Group have made it to the prestigious TIME's list of 100 World's Most Influential Companies of 2024. TIME called Reliance 'India's Juggernaut'. This is the second time that Reliance has found its way into the TIME list. Jio Platforms, the firm that holds digital properties of the conglomerate, was included in the inaugural TIME 100 Most Influential Companies List of 2021. Serum Institute is the other Indian company on the list.
The Aditya Birla Group announced the merger of its two holding companies, Aditya Birla Nuvo and Grasim, to make the holding structure clearer, ensure stable cash flows and unlock value in its financial services arm
Fresh meat and seafood delivery unicorn Licious is intensifying its talent acquisition endeavours as it pursues profitability and readies for an initial public offering (IPO) within the next 24 months. Delightful Gourmet, Licious' parent company, has named 39-year-old Karishma Gupta as its new chief financial officer (CFO). Her appointment aligns with Licious' drive for profitable growth through an omnichannel strategy.
Kumar was speaking to media persons at Patna airport on his arrival from New Delhi.
Regulator seeks clarification on transfer of convertible debt after merger
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Kotak Mahindra Bank chief Uday Kotak has assured that there will not be "any dramatic" reduction immediately in the number of employees following the merger of ING Vysya Bank.
RJD chief Lalu Prasad announced in Patna on Sunday that the merger of the six parties of the erstwhile Janata Parivar was certain and necessary to stop and defeat the communally inclined BJP.
'The government has put in a lot of effort to provide infrastructure for the industry.'
With high credit growth and healthy asset quality, listed commercial banks are expected to report steady growth in earnings during the fourth quarter ended March 2024 (Q4 FY24). Profits are expected to grow at 9.6 per cent year-on-year (Y-o-Y) and net interest income (NII) by 8.7 per cent in Q4 FY24, according to Bloomberg analysts' estimates. According to Motilal Oswal Securities, while bank credit growth has been robust, deposit growth has also gathered pace.
The country's most valuable lender HDFC Bank can perhaps no longer claim to be a favourite of foreign portfolio investors (FPIs). Two data indicators, both somewhat interconnected, point to this - the diminishing premium of HDFC Bank's American depositary receipts (ADRs) compared to local shares, and the ample investment opportunities available to FPIs in the domestic market. The ADR premium has shrunk to below 5 per cent, down from over 30 per cent in March 2021, and even lower than recent levels.
Investors ICICI Venture and PremjiInvest as well as a lender of Subhiksha Trading Services have objected to the cash-strapped retailer's merger plan with Chennai-based Blue Green Constructions and Investments, in which it acquired a 40 per cent stake in June last year.
Weakness in HDFC Bank's net interest margin (NIM) might have bottomed out in the July-September quarter (Q2-FY24), analysts said on Tuesday, as most of the merger-related one-time adjustments have been done. The bank, they believe, should be able to grow from here on, allowing the stock to reverse its underperformance. "The weak NIM print was not unexpected given the merger and regulatory impact caused by the incremental cash reserve ratio (ICRR; 5-10 bps for the quarter).
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