S&P Global Ratings on Tuesday said the Indian economy is set for "resilient growth" in 2025 and projected inflation pressure to recede which will lead to "modest" easing of the monetary policy by the RBI. In its India outlook for 2025, S&P also retained India's growth forecast for current fiscal at 6.8 per cent, followed by 6.9 per cent growth in 2025-26.
The stocks are largely from sectors such as chemicals, finance and cement, which struggled earlier but the worse seems to be behind them.
'It is imprudent on the part of Indian insurance companies to invest out of the shareholders' fund in a private limited company.'
The Union Finance Ministry on Tuesday said that aggregate business of public sector banks (PSBs) has shown strong growth of 11 per cent in the first half of the financial year 2024-25 (H1FY25) to touch Rs 236 trillion. The operating and net profit were also robust. At Rs 1.5 trillion, operating profit grew by 14.4 per cent year-on-year (Y-o-Y) while the net profit saw an impressive 25.6 per cent jump at Rs 85,520 crore in the first half of FY25.
'We plan to launch new initiatives, including cash flow-based lending, to ensure borrowers are not burdened and can access funds more quickly.'
'Not only jobs are not being generated, but people are also losing jobs.'
Finance Minister Arun Jaitley said that at a time when the private sector has been somewhat conservative in investments, public investment always takes the lead.
'Public sector banks are like an extended arm of the government.' 'They rush to rescue certain sectors or they rush to invest in certain sectors to prop up the economy which the private banks don't.'
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'A major IT services firm that previously had a demand of 1,000 to 2,000 employees now requires 7,000 to 8,000 -- a sizeable jump from the previous quarter.'
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.
'Growth, liquidity and deposit mobilisation are likely to be discussed during the interaction.'
'If the markets correct further, PSU stocks could continue to decline.'
Credit cards appear to have found favour with public sector banks, which had, so far, been reluctant in expanding their unsecured loan portfolios aggressively.
At present, 60 per cent of the mutual fund industry's corpus comes from fixed income schemes, which invest in stable return giving instruments such as government securities and bonds.
Balachandran M, Director of the Institute of Banking Personnel Selection, has little time to catch his breath. He and his team have been supervising recruitment of nearly 100 public sector bank employees every day.
Giving a pat on the back of public sector banks, Finance Minister Pranab Mukherjee on Friday said the Indian banking sector has responded well to difficult global environment by meeting credit needs of the economy.
The inefficient public sector with higher costs offers a lobbying cover for the entire sector, which confers even greater benefits on the private sector.
Fugitive businessman Vijay Mallya has said that he will pursue relief for the Enforcement Directorate and banks taking more than two times the debt he owed. His remarks came following a statement by Finance Minister Nirmala Sitharaman in Parliament about recovery of over Rs 14,130 crore from his attached assets.
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Customers using e-commerce websites are young and techno-savvy.
The Reserve Bank on Monday said asset quality of banks improved further and their gross non-performing assets (GNPA) or bad loans ratio declined to a 12-year low of 2.6 per cent in September 2024 on the back of falling slippages and steady credit demand. The RBI also flagged concern over a sharp rise in write-offs, especially among private sector banks (PVBs), which could be partly masking worsening asset quality in unsecured lending segment and dilution in underwriting standards.
'Healthcare is not an industry.' 'The government is only encouraging insurance as they are not able to provide healthcare to people.' 'Opening new medical colleges is not what is needed.' 'You have to invest in public sector hospitals.' 'You cannot hand over healthcare to the private industry.'
Since public sector banks are unlikely to be privatised soon, the aim has to be to make as many of them perform as is possible.
Do we have enough trained oncologists and medical professionals in India to man these over 4,500 beds in the public sector?
A report by The Boston Consulting Group notes the human resource challenge for public sector banks due to large-scale retirement.
Factors like dedicated recovery teams, centralised follow-up on bad loan accounts and resolutions via NCLT are driving the trend
'If the BJP detoxifies the nuclear liability law, it will bring economic, environmental and, most of all, strategic benefits.' 'Let's keep our fingers crossed and hope that this Budget promise is met soon -- ideally, before Mr Modi heads to his first meeting with Trump 2.0,' observes Shekhar Gupta.
In 2025 banks are in for challenges such as pressure on margins and slowing credit growth. With the likelihood of a repo rate cut in February or April, external benchmark-linked loans of banks will be repriced immediately. However, deposit rates are expected to adjust more gradually, which could impact the net interest margin (NIM) - a key measure of profitability for banks.
Students from de-notified tribes, nomadic tribes and semi-nomadic tribes will receive coaching fees of up to 1,20,000 and additional benefits for preparing for entrance examinations such as JEE, NEET, CLAT and the NDA.
The company paid over Rs 231 crore over three years to a web of 135 fake firms.
The National Financial Reporting Authority (NFRA) will invite public comments on the revised International Standard on Auditing 600 (ISA 600) proposed to be adopted by publicly listed companies and non-public-sector banks, sources close to the development told Business Standard. The decision to take this "graded approach" for the adoption of the ISA, which is meant to rein in auditors often found hiding behind the audit reports signed off by subsidiary companies, was taken at a meeting of various financial sector regulators at NFRA's board meeting on Monday (August 26). The idea behind upgrading the Standards of Audit 600 currently followed by Indian auditors to ISA 600 is to plug current gaps, which have led to major audit lapses in the recent past.
'The pricing model will be different. The product will be different.'
HDFC Bank on Wednesday reported a 2.3 per cent year-on-year rise in its consolidated net profit to Rs 17,657 crore for the October-December quarter, restricted by slower loan growth. On a standalone basis, the largest private sector lender's net profit came at Rs 16,735.50 crore for the period, up from Rs 16,372.54 crore in the year-ago period, but marginally down from the preceding quarter's Rs 16,820.97 crore.
Commercial banks in India reported a sixth consecutive year of rise in their net profits in 2023-24 while bad loans continued to fall, according to the Reserve Bank of India's (RBI's) annual publication "Trends and Progress of Banking in India", released on Thursday. "Banks' profitability rose for the sixth consecutive year in 2023-24 and continued to rise in H1:2024-25 with the return on assets (RoA) at 1.4 per cent and return on equity (RoE) at 14.6 per cent," the report said.
Shares of state-owned bank stocks were under pressure on Monday due to muted deposit and credit growth numbers reported by these lenders in the October-December quarter (Q3) of 2024-25 (FY25). The Nifty PSU Bank index was down 4 per cent, with Union Bank of India emerging as the biggest loser as its shares fell 7.5 per cent to close at Rs 114.7, followed by a 5.7 per cent drop in shares of Bank of Baroda (BoB) to Rs 228 and a 4.7 per cent slide in shares of Bank of India to Rs 99.8 on the National Stock Exchange.
Non-Performing Assets are a wake-up call for public sector banks.
The number of frauds in the banking sector increased over four times in the past five years to 36,075.
Divestment in top PSUs could make the ETF as big as Rs 30,000 crore.
rediffGURU Aasif Ahmed Khan counsels students on the best career options in tech and engineering.
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