The most common complaint of financial consumers is cumbersome processes, complicated products, usurious charges, and mis-selling of products, which finally don't deliver what is promised or as expect, notes Debashis Basu.
ICICI Bank and HDFC Bank have effected a cut of up to 0.50 per cent in term deposit rates following tepid credit growth and ease in money market rates.
Top losers in the Sensex pack on Friday included Bajaj Finance, ONGC, IndusInd Bank, PowerGrid, L&T, Axis Bank, NTPC, Bharti Airtel, HDFC, HDFC Bank and Kotak Mahindra Bank, falling up to 2.08 per cent.
Yes Bank was the top gainer in the Sensex pack, surging 3.76 per cent, followed by SBI at 3.18 per cent.
Apart from SBI, UPI 2.0 partner banks are HDFC Bank, Axis Bank, ICICI Bank, IDBI Bank, RBL Bank, YES Bank, Kotak Mahindra Bank, IndusInd Bank, Federal Bank and HSBC.
'You cannot start an MSME again.' 'It is not like a Yes Bank that someone comes and saves the bank.' Once the shutter is down for an MSME, nobody will come to its rescue.'
In the Sensex pack, Hero MotoCorp, IndusInd Bank, Bajaj Auto, Maruti and M&M were the top gainers, spurting up to 2.66 per cent.
Oil sank to the lowest level in a month after shedding all of its gains from the US-Iran clash as traders waited to see whether any further hostilities will disrupt exports from the East Asia.
After a positive opening, the 30-share BSE Sensex suddenly faced selling pressure in late-afternoon trade. It finally settled just 5.67 points, or 0.01 per cent, lower at 39,586.41.
Investor sentiment got a big push after Brent crude, the international benchmark, dropped below the USD 73-mark to quote at a seven-month low of USD 72.65 by falling 3.48 per cent, traders said.
Combined profit before tax of 81 firms down 37.5% y-o-y, worst show in at least 3 years.
An appreciating rupee, unabated buying by domestic institutional investors (DIIs) and encouraging earnings by blue-chips contributed to the uptrend
Gaurav Garg, Head of Research, CapitalVia answers readers' stock market queries.
Bad loans of PSBs are at Rs 20 trillion. Most of it is, I sense, due to corruption and behest lending. Nobody pays a price for this charade. Not the promoters, the bankers, RBI officials, finance ministry bureaucrats or politicians, points out Debashis Basu.
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
The broader NSE Nifty, on the other hand, ended 2.70 points, or 0.02 per cent, lower at 11,555.90 in its third straight day of losses.
'It is easy to dramatise the events of today, but it is far more important to focus on the fact that we have a radically overvalued financial sector. It is a house of cards.'
A look at six indicators shows all of them have collapsed from positive growth in April to contraction in September.
Yes Bank said it is set to unveil a branch to be operated exclusively by women.
Why do we need a bad bank, owned by the banks themselves when there are at least 28 ARCs around, asks Tamal Bandyopadhyay.
A crucial meet of the Reserve Bank's central board is underway amid a rift between the central bank and the government over future course of policies. Expectations of a positive outcome boosted market mood after the meeting began.
We present our alphabet of 2020, pulling in everything you'll remember about this year we'd rather forget.
Vasudeo Joshi, Head of Research of Man Financial, states his favourite picks from the midcap space.
NTPC was the biggest loser in the Sensex pack, tumbling 2.25 per cent, followed by Tata Motors, Bharti Airtel, PowerGrid, HDFC, Reliance Industries, Hero MotoCorp and M&M that shed up to 1.85 per cent.
The department of financial services has decided to give banks commission, to ensure these accounts are kept active.
The fall was led by banking stocks, with IndusInd Bank, Kotak Bank, Federal Bank, Axis Bank, ICICI Bank, HDFC Bank and SBI declining up to 2.36 per cent.
The YES Bank family tussle puts focus on RBI guidelines on appointment of directors.
Despite the financial crisis of 2008, the finance industry is still arrogant, isolated and ridiculously lucrative.
The index widened its loss towards the fag-end on emergence of intense selling in heavyweights like ITC, RIL and ICICI Bank. In percentage terms, however, Sun Pharma was the biggest loser with 9.39 per cent drop. Intra-day, the pharma major's shares tanked over 20 per cent.
From promoters losing their firms to consumers realising there are no free lunches, 2019 was a year of getting real,says Shailesh Dobhal.
Among sectoral indices, telecom led the chart, spurting 3.08 per cent, followed by oil and gas.
Historically, the RBI has tried to keep the crooks at bay by issuing a circular a day. What it needs is more onsite supervision. Merely checking high-frequency data with the help of technology is insufficient, notes Tamal Bandyopadhyay.
Rather than focusing on profits, market should look at the inherent strength of the balance sheet whether it can withstand difficulties, he said.
Once ICICI Bank, the market leader, announces the new rates, other banks too are likely to revise their automobile loan rates.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Fruits, vegetables and eggs continued to witness deflationary trend during January this year, with their prices declining 4.18 per cent, 13.32 per cent and 2.44 per cent, respectively.
Top gainers in the Sensex pack were TCS, Bharti Airtel, Infosys, Axis Bank, L&T, ITC, PowerGrid, HCL Tech and Tata Steel, ending up to 2.39 per cent.
It has also issued cautionary letters to seven other banks.
DDinesh Kumar Khara is someone who cares for others's ideas and suggestions.
If he takes the people along with him (which he always does); cares for the customers (80 per cent of SBI's new customers are in the 20-40 age group); and doesn't take his eyes off technology, his job is done, says Tamal Bandyopadhyay.
'The move towards fiscal consolidation had to be diluted because of the relief to farmers as the government wants to appease the voters.'
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