Talking about home loan rates, there is good news for borrowers.
As a step to entrench its consumer finance business, Bajaj Finance (BFL) plans to scale up its business-to-business (B2B) activity, both in terms of volume as well as value. It plans to add up to 1,000 cities in the next three years and this will mark its presence in around 5,000 cities. The expansion activity will be more in Northern and Eastern India.
Future Enterprises Ltd (FEL) on Tuesday said it has defaulted on payment of Rs 19.16 crore to Punjab National Bank, Canara Bank and Union Bank of India under the one-time restructuring plan. This is the second default by FEL this month. The due date for payment of Rs 19.16 crore was March 28, FEL said in a regulatory filing.
'Banks have to be braver, willing to take more risks and give confidence to the customer,' observes Joydeep Ghosh.
rediffGURU Chandu Nair advises entrepreneurs and enterprises about how to create and build their business.
Barclays Finance, the non-banking finance arm of Barclays Corporate in India, plans to close the majority of its branches here, as part of the lender's plan to scale down retail operations in the country.
It has been a decade since Shyam Srinivasan took over as managing director and chief executive officer at Federal Bank. He wants to ramp up the bank's unsecured lending going ahead even as it homes into the space vacated by competition. Reappointed for a fresh three-year term as the bank's helmsman, he spoke to Hamsini Karthik on the plot ahead.
Why are investors gung-ho about State Bank? asks Tamal Bandyopadhyay.
Adani group opened a $1.2 billion copper plant, bought a port in Odisha, raised stakes in a cement company and stitched an alliance with rival Mukesh Ambani's Reliance Industries, all in a matter of one week in signs that the apples-to-airport conglomerate has shrugged off the Hindenburg effect and is back to rapid expansion spree. In the last one week, Adani group has through regulatory filings and press statements announced expansions and investments in its mainstay ports business, diversification into metal refining, fund infusion into a two-year-old cement foray and continuing progress in the commissioning of its mega solar project.
'A credit line on UPI is going to make banks think about credit fundamentally as they digitise the credit process entirely.'
The second half of the financial year will be an important milestone for ICICI Bank.
HDFC Bank Q1FY24 results analysis: Shares of HDFC Bank, the world's seventh largest financial entity, have advanced 2 per cent in two days, as against 1 per cent rise in the benchmark S&P BSE Sensex, after the lender reported its April-June quarter (Q1) results for financial year 2023-24 (FY24) on July 17. The S&P BSE Bankex index, meanwhile, has gained 1.3 per cent. While the near-term stock performance may remain sideways due to merger-related hiccups, analysts remain bullish on the stock's long-term prospects.
In August, the Reserve Bank of India Governor Shaktikanta Das held a meeting with chief executive officers/ managing directors (CEOs/ MDs) of large non-banking financial corporations (NBFCs). The discussions included diversifying borrowing sources for NBFCs and housing finance companies (HFCs) to contain increasing reliance on bank borrowing, risks associated with high credit growth in retail segment in unsecured loans, prioritising IT upgrades and cyber-security, improving provisioning, monitoring of stressed exposures and slippages, ensuring robust liquidity and asset-liability management, ensuring transparency in pricing, creating robust grievance redress mechanisms.
After a sharp fall in the share prices of HDFC Bank and other private sector lenders in the past three days, the BFSI (banking, financial services and insurance) sector weighting in the Nifty50 has slipped to a seven-year low of 32.03 per cent, down from nearly 36.6 per cent at the end of March 2023 and 34.5 per cent at the end of December 2023.
Let all the stakeholders, especially the government, remember that if the Make in India lion needs to roar and rise again, it won't happen unless India Inc rises too, points out Shekaar Subramanian.
Reliance Industries Ltd on Friday reported a 27 per cent jump in its September quarter net profit as earnings from the oil and gas business rebounded, and a pick-up in fashion and grocery helped boost retail revenues. The oil-to-retail-to-telecom conglomerate's consolidated net profit of Rs 17,394 crore, or Rs 25.71 per share, in July-September - the second quarter of the current 2023-24 fiscal - was 27.3 per cent higher than Rs 13,656 crore, or Rs 19.92 a share, earning a year back, the company said in a statement. The net profit was also higher quarter-on-quarter compared to Rs 16,011 crore earnings in the preceding three months ended June 30.
Barclays Bank on Thursday launched its retail and commercial banking service in India. So far, the bank operated in the country through Barclays Capital, its investment division.
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A discount on the product may make a credit card loan seem cheaper than a consumer durable loan. But missing a payment in case of the former will mean exorbitant charges.
Simple to follow, these tips can go a long way in increasing how much home loan you can get.
He said the SBI data showed that there is a rise in NPAs due to the coronavirus crisis but it is manageable as people have been cautious about increasing their liabilities especially in the retail, agriculture and MSME sectors.
For big amounts, loan against property is cheapest; for small ones opt for loan against insurance policy or FDs.
The Budget should use the extra RBI surplus to better effect, suggests A K Bhattacharya.
IDFC First Bank delivered good results in the first quarter of this financial year (Q1FY24), but some analysts are concerned the bank is fully-valued. So, there has been profit-booking after a price rise. Growth went side-by-side with a focus on cutting interest costs and exposure to high non-performing infrastructure loans. The mortgage book is 28 per cent, of which 24 per cent is home loans and loans against property.
Tata Sons Private Limited, the holding company of the Tata group, witnessed a precipitous drop in its net debt to Rs 5,656 crore in the 10 months ended January this year, as its cash reserves burgeoned to Rs 9,516 crore during this period. Eight years ago, in 2015-16, Tata Sons reported a net debt of Rs 5,132 crore; from March 2017 until March 2023, this figure was above the Rs 14,700 mark, peaking at Rs 27,437 crore at the end of March 2019, according to data sourced from Capitaline. The company's gross debt nearly halved to Rs 15,173 crore until January 2024 on a standalone basis, down from a peak of Rs 31,363 crore reported in the financial year ended March 2019.
The central bank tweaked the retail inflation range to 4.8-4.9 per cent in the first half of 2018-19, and 4.7 per cent in the second half.
'We are working with a few housing finance companies to drive affordable lending because that's where we believe our sweet spot is.'
The rubber and tourism industries in the state, to which the bank has exposure, have been hit.
'India has formed tremendous resilience and still a strong growth.'
ICICI Bank, the key driver of the retail lending boom that began about four years ago, has finally seen a moderation in growth in consumer credit.
With ICICI Bank amongst country's three topmost lenders already offering better home loan rates to existing customers post RBI's 0.5 per cent cut in repo rate in April, competitors too are likely to follow suit.
We'll need to wait a couple of years to see how many restructured loans turn bad and whether some banks fall victim to their obsession for growth, explains Tamal Bandyopadhyay.
Why did the company zero in on RBL Bank to understand the business of banking? While the M&M investors heaved a sigh of relief, one gentleman must have been all smiles after this, RBL Bank MD and CEO R Subramaniakumar, notes Tamal Bandyopadhyay.
SBI cuts education loan rates 25-100 bps; others reduce home loan rate, waive processing fees
Cuts loan rates for third homes to regular rates.
Anil Ambani's Reliance Power tops the table with 3.46 million shareholders
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