In view of the rising number of mobile and internet banking users, the Reserve Bank of India (RBI) has proposed to tighten norms related to the liquidity coverage ratio (LCR) by increasing the run-off factor for retail deposits. "Banking has undergone rapid transformation in recent years. "While increased usage of technology has facilitated the ability to make instantaneous bank transfers and withdrawals, it has also led to a concomitant increase in risks, requiring proactive management," the RBI said in the draft guidelines released on Thursday.
Public-sector lenders Indian Overseas Bank (IOB) and Uco Bank are likely to raise funds through qualified institutional placement (QIP) next month. Punjab & Sind Bank is likely to follow suit later this financial year to meet the public shareholding norm of 25 per cent. When a public-sector unit raises funds through QIP, the money goes to the company because it involves issuing new shares whereas in the case of offer for sale (OFS), the money raised goes to the government because its shares are sold.
Benchmark Sensex hit the historic 83,000 level for the first time on Thursday and the Nifty settled at a lifetime high after a rally in blue-chip shares, surge in global markets and foreign fund inflows. A sharp fag-end rally drove the 30-share BSE Sensex to the 83,000 level for the first time. The barometer surged 1,593.03 points or 1.95 per cent to hit its lifetime intra-day peak of 83,116.19 in the last hour of trade.
While SGBs are a sound investment, they aren't worth buying at any price. The interest income you earn from them will not justify paying a high premium.
'It would be reasonable to assume that Modi 3.0 would be more focused on projects and schemes which do not require any legislative change or which have the support of its coalition partners,' asserts A K Bhattacharya.
The Enforcement Directorate on Wednesday said it has attached fresh assets worth Rs 29.75 crore of fugitive diamond trader Nirav Modi under the anti-money laundering law. A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) to attach these assets that are in the form of bank deposits, land, and buildings, it said in a statement.
Balance-level delinquencies in the credit card segment saw a 17 basis points (bps) year-on-year (Y-o-Y) rise in the quarter ending June 2024 (Q1FY25). In all other credit segments, including personal loans, delinquencies declined even as retail credit growth moderated, consequent to banks tightening the supply of credit to the unsecured segments, a report by TransUnion CIBIL said on Monday. Data shows that balance-level delinquencies, measured in terms of 90 days or more past due, in the credit card segment stood at 1.8 per cent in Q1FY25- highest among all other credit segments.
As Cyclone Dana barrels toward the coasts of Odisha, threatening to impact nearly half of the state's population, the government is racing against time to execute a massive evacuation plan aimed at relocating about 10 lakh people in several coastal districts to safety. In West Bengal, the cyclone is set to bring heavy rainfall in several southern West Bengal districts, including Kolkata, the India Meteorological Department (IMD) has said.
Gold imports more than doubled in August to a record high of $10.06 billion, mainly on account of a drastic cut in customs duty and ongoing festive demand, according to the Commerce Ministry data. Gold imports stood at $4.93 billion in August 2023. On record high imports, Commerce Secretary Sunil Barthwal said that the tariff rates on gold have been reduced drastically so that smuggling and other activities can come down.
Wholesale inflation fell to a 4-month low of 1.31 per cent in August due to a decline in prices of vegetables and fuel, even though onion and potato prices spiked, according to official data released on Tuesday. Wholesale price index-based inflation fell for the second straight month in August after it hit a high of 3.43 per cent in May. Inflation in July was 2.04 per cent. In August last year, WPI inflation was (-) 0.46 per cent.
In previews of Q2FY25 and beyond, industry analysts are expecting a turnaround for IT services. High teens earnings per share or EPS growth is expected for the next two-three financial years. The hopes are backed by deal wins of above $100 billion as at Q1FY25, up 16.6 per cent year-on-year ( Y-o-Y).
The implementation of this toll collection system, which will eventually eradicate toll booths, necessitates the fitting of an on-board unit (OBU) in every vehicle that can track a vehicle's location in real time.
FDs are not advisable for long-term wealth creation as their post-inflation, post-tax returns are not very attractive.
A few big IPL franchises had offered Rahul Dravid blank cheques to join them, but his choice was clear.
With new eligibility criteria for futures and options (F&O) coming into effect, Jio Financial Services and Zomato are strong contenders for inclusion in the derivatives segment, according to an analysis by Nuvama Alternative & Quantitative Research. The report suggests that these new F&O inclusions could also propel these two companies into the benchmark National Stock Exchange Nifty 50 during the March rebalancing.
The pole was the 26th of Charles Leclerc's career, and third of the season.
Benchmark stock indices Sensex and Nifty rallied more than 1.6 per cent to close at lifetime high levels on Thursday following buying in banking, oil and auto shares and a record dividend payout by the RBI to the government. Regaining the 75,000 level after its best single-day gain since January 29, the 30-share BSE Sensex closed at all-time peak of 75,418.04, up by 1,196.98 points or 1.61 per cent over the last close.
Instead of harvesting the wrath against the BJP and using it to their advantage by opting for a collective form of leadership, the Congress decided once again to bestow their trust in the Hooda family who were given a free hand in the distribution of tickets. This turned out to be the biggest blunder and this faulty selection was the single over riding factor in the Congress defeat, explains Rashme Sehgal.
"There is a limit when it comes to tolerating abusive behaviour or working styles. Many (employees) find ways to quit," says career coach and rediffGURU Pradeep Pramanik.
"Give up arms and come for talks or our forces will hunt you down," the home minister said in election rallies in Jammu and Kashmir.
India's forex reserves jumped by $9.7 billion to an all-time high of $666.85 billion for the week ended July 12, the RBI said on Friday. In the previous reporting week, the kitty had increased by $5.16 billion to $657.16 billion, surpassing the previous high of $655.82 billion for the week ended June 7.
Investors' wealth plummeted by Rs 5.49 lakh crore on Friday as markets faced a massive correction tracking a weak trend in global peers and fresh foreign fund outflows. Falling for the third day running, the 30-share BSE Sensex tumbled 1,017.23 points or 1.24 per cent to settle at 81,183.93. During the day, it plunged 1,219.23 points or 1.48 per cent to 80,981.93.
Bangladesh pacers have also been fortunate to have come under the tutelage of South African great Allan Donald and former West Indian pacer Otis Gibson.
Investors' wealth plummeted by Rs 4.12 lakh crore during the morning trade on Friday as markets faced a massive correction tracking a weak trend in global peers and fresh foreign fund outflows. Falling for the third day running, the 30-share BSE Sensex tanked 896.7 points or 1.09 per cent to 81,304.46 during the morning trade.
'Unfortunately, most of our students use AI to replace knowledge when they should be using the AI tools to enhance their knowledge.' 'I am sorry to say, even those students who have opted to study AI have no idea what AI is.'
India's 40-4 (win-loss) home record in the last decade is awe-inducing but there is an ever-little crack, which is getting more pronounced in the past three years, particularly in the case of star batter Virat Kohli.
A key indicator of corporate efficiency may now be better than at any time since the turn of the millennium. The net working capital cycle - a crucial measure that tracks the time a company takes to convert current assets like inventory into sales and then collect the money from customers - has seen remarkable improvement. According to data from the Centre for Monitoring Indian Economy (CMIE), the average company needed nearly 90 days to complete this cycle in 1999-2000.
'In India, managers and the leadership almost glorify overworking.'
The last four years, the best for corporate profits in a long time, have not been as impressive for corporate capital expenditure. The combined net profits of India's top listed companies excluding banks, financial services, and insurance (BFSI) increased at a compound annual growth rate (CAGR) of 32.4 per cent since FY20, a sharp jump from the 7.4 per cent in corporate earnings between FY14 and FY19.
The cost of deposits is on the rise, but banks can't raise interest rate on close to 60% of their loan books, points out Tamal Bandyopadhyay.
'There is no irrational exuberance when it comes to mainboard IPOs.' 'Most issues are by good quality businesses.'
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.
During the first eight months of CY24, 50 IPOs mobilised Rs 53,453 crore.
Both candidates have shifted from their traditional constituencies - Sadhotra from Marh and Sharma from Akhnoor - after these two segments were reserved for Scheduled Castes.
The coaching-tuition-profiteering model built on the back of a broken education system is a scandal and an abomination, and must go, asserts Shekhar Gupta.
The rupee has depreciated by 0.6 per cent so far in the current financial year.
Foreign investors have adopted a cautious stance and infused Rs 7,320 crore in the Indian equities in August owing to high valuation of stocks and the unwinding of the Yen carry trade after Bank of Japan raised interest rates. This investment was way lower than Rs 32,365 crore in July and Rs 26,565 crore in June, according to data with the depositories. While September is likely to see continued interest from FPIs, the flows would be shaped by a combination of domestic political stability, economic indicators, global interest rate movements, market valuations, sectoral preferences, and the attractiveness of the debt market, Vipul Bhowar, Director Listed Investments, Waterfield Advisors, said.
Whether it's Carrefour, Ford, or other foreign majors, they are ready to adjust their strategies and design their plans in a way that would address the Indian consumption story.
The IPO filing-to-approval lapsing ratio this year is the best in three years, underscoring the improvement in the IPO market's buoyancy.
The defenders signed contracts on Tuesday from Bayern Munich making United their third team together, and they could both feature in the squad's season opener on Friday against Fulham at Old Trafford.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances