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Mumbai (Maharashtra) [India], April 7 (ANI): Bank credit in India is expected to grow around 13 per cent in the current fiscal, slightly slower than the estimated 14 per cent growth in FY26, according to a report by CRISIL Ratings. The report said the growth will be supported mainly by strong demand from the retail and micro, small and medium enterprise (MSME) segments, along with corporates continuing to prefer bank loans over bond issuances. Also Read | Vivo X300 Ultra Review: Flagship Featu ...Read More >
Mumbai (Maharashtra) [India], April 7 (ANI): Bank credit in India is expected to grow around 13 per cent in the current fiscal, slightly slower than the estimated 14 per cent growth in FY26, according to a report by CRISIL Ratings. The report said the growth will be supported mainly by strong demand from the retail and micro, small and medium enterprise (MSME) segments, along with corporates continuing to prefer bank loans over bond issuances. "Bank credit is poised to grow ~13% this fiscal, d ...Read More >
MUMBAI, March 30 (Reuters) - Indian bonds tumbled in the fiscal year ending March, snapping a two-year rising streak, as demand weakened and the Middle East war sent oil prices surging, outweighing the impact of record debt purchases and cash infusion by the central bank. Elevated oil prices threaten to raise inflation and widen India's current account deficit, and could force the central bank to start raising policy rates earlier than anticipated. Bonds could extend their losing run in the we ...Read More >
Mumbai, Oct 18 (PTI) ICICI Bank on Saturday reported that its consolidated net profit for the September quarter inched up by 3.2 per cent to Rs 13,357 crore as a fall in provisions helped overcome the impact of margin compression. On a standalone basis, the second largest private sector lender reported a 5.2 per cent growth in its post-tax profit at Rs 12,359 crore, up from Rs 11,746 crore in the year-ago period. The core net interest income increased 7.4 per cent to Rs 21,529 crore on the bac ...Read More >
Mumbai, Oct 3 (PTI) A "structural shift" in deposit composition due to a decline in fixed deposits and lower share of current and savings accounts (Casa) balances poses challenges to banks over the medium to long term, rating agency Crisil said on Friday. This comes amid concerns in some quarters over the increased preference for capital market investments by households looking for higher yields, while others believe the shift is representative of the maturing profile of the system. "Two key t ...Read More >
Sept 30 (Reuters) - India's central bank on Tuesday said that the overnight weighted average call rate will continue to be the operating target of monetary policy under the revised liquidity management framework. The Reserve Bank of India also said that the 14-day variable rate repos and variable rate reverse repos will be discontinued as the main operations for managing short-term liquidity. Liquidity will me managed primarily through 7-day liquidity operations and through repos and reverse r ...Read More >
MUMBAI: RBI is expected to keep policy rates unchanged in its three-day monetary policy committee meet that starts on Monday. Most economists cite resilient growth, benign inflation and external uncertainties as reasons for a pause, even as the tone of RBI's guidance is likely to be more dovish than the action itself. Some economists, however, see scope for a 25-basis-point (100bps =1 percentage point) cut as inflation could dip below target.The Oct decision is seen as trickier than Aug, with gl ...Read More >
VMPL New Delhi [India], August 14: Ellenox, India's largest venture studio, is accelerating its global push in enterprise AI development. In the past year, the company has grown its headcount by 50% over the last year, bringing in senior AI talent from Amazon and Google to power its next phase of expansion. Already delivering AI transformation for Fortune 50 leaders in fintech, cloud computing, consumer social, and sports-tech, Ellenox has built systems that replace costly call centers with na ...Read More >
Mumbai: A majority of economists say that growth, rather than inflation, will be the primary driver of monetary policy decisions while adding that the Reserve Bank of India is unlikely to cut the policy repo rate further from 5.5% now. "We believe that growth would guide the RBI's thought process as inflation remains benign. We do not see any further cuts in our base case," Rahul Bajoria and Smriti Mehra, economists at BofA Securities India, wrote in a report. Inflation as measured by consumer ...Read More >
New Delhi, Aug 14 (SocialNews.XYZ) The Reserve Bank of India's Monetary Policy Committee (MPC) could consider further policy rate cuts if upcoming GDP data falls short of expectations and the US Federal Reserve begins aggressive easing in response to a weaker labour market, a report said on Thursday. Any additional room for easing could open up if growth underperforms and the US Fed cuts rates to counter labour market weakness, HSBC Mutual Fund said in its report. In its latest policy meeting, ...Read More >
New Delhi, Jul 15 (PTI) The Indian economy is expected to grow at 6.5 per cent in the current financial year, despite geo-political tensions and trade policy uncertainties, Economic Advisory Council to the Prime Minister (EAC-PM) Chairman S Mahendra Dev said on Tuesday. In an interview with PTI, Dev further said that domestic growth will be driven by low inflation, resulting from good monsoon and benign interest rate regime, triggered by three back-to-back rate cuts by the Reserve Bank of India ...Read More >
Mumbai: The Reserve Bank of India (RBI) will conduct a seven-day variable rate reverse repo (VRRR) operation for ₹2.5 lakh crore on Friday, a day when two previous such operations involving a total of nearly ₹2 lakh crore would be reversed and returned to the banking system. Friday is also the end of the fortnight, when banks need to report their cash reserve ratio compliance to the Reserve Bank of India (RBI). Bank treasury officials said that the aim of this exercise is to keep weighted avera ...Read More >
New Delhi, Jul 3 (PTI) India's economy is expected to grow 6.4-6.7 per cent during the current financial year driven by strong domestic demand, even as geopolitical uncertainty poses downside risks, the newly appointed CII President Rajiv Memani said on Thursday. Addressing his first press conference after taking over as the CII President, Memani made a strong case for simple three-tiered GST rate structure, with essential items attracting 5 per cent, luxury and sin goods at 28 per cent, and th ...Read More >
New Delhi, Jun 27 (PTI) Finance Minister Nirmala Sitharaman on Friday asked public sector banks (PSBs) to deepen corporate lending in productive sectors while ensuring robust underwriting and risk management standards. The finance minister's direction comes weeks after the RBI's six-member monetary policy committee, headed by Governor Sanjay Malhotra, lowered the benchmark repurchase or repo rate by a massive 50 basis points to 5.5 per cent. It also slashed the cash reserve ratio by 100 basis ...Read More >
New Delhi: Union finance minister Nirmala Sitharaman on Friday asked public sector banks (PSBs) should maintain profitability momentum in FY26 and take advantage of Reserve Bank of India's 50-basis points rate cut to increase lending toward productive sectors of the economy, according to the sources. The finance minister's statement came after chairing a meeting with the heads of PSBs to review financial performance of banks. Sitharaman also emphasised that banks should also onboard more custom ...Read More >
Mumbai: A RBI report has suggested that all banks should bring down their lending rates for speedy transmission of the policy rate, which was lowered by 50 basis points earlier this month.An article published in the Reserve Bank's June Bulletin stressed that the financial conditionsremained conducive to facilitating an efficient transmission of rate cuts. Most of the banks have already passed on the rate cuts announced in February and April to their customers.It may be mentioned here that sever ...Read More >
New Delhi, Jun 26 (PTI) Amid rate moderation by the Reserve Bank, Finance Minister Nirmala Sitharaman is scheduled to meet heads of public sector banks (PSBs) on Friday for review their financial performance and progress of various government flagship schemes. According to sources, the finance minister may exhort them to increase credit flow towards productive sectors of the economy. Also Read | What Are the New Metro Compensation Rules in India? Ministry of Housing and Urban Affairs Enhances ...Read More >
New Delhi: The second match of the five-match Test series between India and England will be played at Edgbaston in Birmingham. It will start on July 2. In this Test, Shubman Gill has a chance to create history. Actually, the Indian team has not been able to win on this ground so far. Team India played the first match on this ground in 1967. Be it Virat Kohli or Dhoni or Dravid or Sourav Ganguly, no Indian captain has won here in 58 years. However, Gill will have a chance to get his name register ...Read More >
New Delhi, Jun 26 (PTI) Amid rate moderation by the Reserve Bank, Finance Minister Nirmala Sitharaman is scheduled to meet heads of public sector banks (PSBs) on Friday for review their financial performance and progress of various government flagship schemes. According to sources, the finance minister may exhort them to increase credit flow towards productive sectors of the economy. This is going to be the first review meeting after the Reserve Bank earlier this month carried out a jumbo poli ...Read More >
India Ratings and Research (Ind-Ra) expects credit growth to improve marginally in FY26 to 13-13.5 per cent, up from FY25 levels. However, the composition of loans is likely to shift, with a continued slowdown in lending to non-banking financial companies (NBFCs) and the retail segment. This decline is expected to be offset by a revival in private capital expenditure (capex), which would support growth in the corporate segment, the rating agency said. "A sustained improvement in system liquidit ...Read More >
Mumbai: Banks will have to innovate to get fresh deposits as lower interest rates will make it more difficult to attract new savers, said investment experts. Products such as fixed deposit-linked credit cards, sweep-in deposits and savings bank-linked home loans will have to be marketed more as younger savers will continue to move towards capital market products like short-term debt funds, while senior citizens will be increasingly more dependent on government savings schemes, said bankers and i ...Read More >
Mumbai: Banks will have to innovate to get fresh deposits as lower interest rates will make it more difficult to attract new savers, said investment experts. Products such as fixed deposit-linked credit cards, sweep-in deposits and savings bank-linked home loans will have to be marketed more as younger savers will continue to move towards capital market products like short-term debt funds, while senior citizens will be increasingly more dependent on government savings schemes, said bankers and i ...Read More >
New Delhi: State-owned Bank of Baroda (BoB) on Sunday said it has cut its benchmark lending rate linked to repo rate by 50 basis points in line with the RBI's rate reduction. Meanwhile, private sector HDFC Bank reduced its Marginal Cost of Funds-based Lending Rates (MCLR) by 10 basis points across tenure, which will benefit borrowers whose loans are linked to this benchmark. Pursuant to the Reserve Bank of India (RBI) reducing the policy repo rate, the bank has slashed its Repo Linked Lending ...Read More >
New Delhi, Jun 8 (PTI) State-owned Bank of Baroda (BoB) on Sunday said it has cut its benchmark lending rate linked to repo rate by 50 basis points in line with the RBI's rate reduction. Meanwhile, private sector HDFC Bank reduced its Marginal Cost of Funds-based Lending Rates (MCLR) by 10 basis points across tenure, which will benefit borrowers whose loans are linked to this benchmark. Also Read | Encroachers Can't Claim Right To Continue Occupying Public Land, Says Delhi High Court. Pursuan ...Read More >
AFP | Mumbai Email : editor@newsofbahrain.com India India's central bank cut interest rates more than expected yesterday, citing muted inflation and a need to kickstart economic growth as the impact of US tariffs weighed on the country's outlook. The Reserve Bank of India (RBI) lowered the benchmark repo rate, the level at which it lends to commercial banks, by 50 basis points to 5.5%. A majority of analysts had expected 25-basis-point reduction. The cut was its third in a row and comes a w ...Read More >
Bhubaneswar: Hundreds of junior school teachers from across the state Friday staged a protest here demanding regularisation of their services and withdrawal of contractual appointment system. Holding posters and banners against the contractual appointment of junior teachers in schools, the teachers, including women, demonstrated at Mahatma Gandhi Marg here. The teachers, representing various schools across the state, demanded immediate regularisation of their posts and scrapping of the contract ...Read More >
Mumbai: Benchmark equity indices surged on Friday, with the Sensex climbing 746.95 points and Nifty reclaiming the 25,000-level after the RBI cut interest rates by more-than-expected 50 basis points -- a third consecutive reduction -- and reduced the cash reserve ratio for banks to provide a major liquidity fillip to support the economy amid geopolitical and tariff headwinds. Recovering all the early lost ground, the 30-share BSE Sensex jumped 746.95 points, or 0.92 per cent, to settle at 82,18 ...Read More >
Mumbai: Home, auto and other loans are likely to cost less as the Reserve Bank of India (RBI) cut interest rates by a larger-than-expected 50 basis points on Friday, and unexpectedly reduced the cash reserve ratio (CRR) for banks to make available more money to lend in a bid to boost the economy. The RBI's six-member monetary policy committee, headed by governor Sanjay Malhotra and consisting of three external members, voted five to one to lower the benchmark repurchase or repo rate by 50 basis ...Read More >
ITANAGAR, 6 Jun: More than 200 people without valid inner line permits (ILP) were externed from the Itanagar Capital Region on Friday, a senior police officer said. The violators were detected during an enforcement drive conducted by the Naharlagun police across Papu Hills, Naharlagun, Nirjuli, and Banderdewa, as part of the ongoing initiative to uphold the Bengal Eastern Frontier Regulation. Naharlagun Superintendent of Police (SP) Mihin Gambo said that all 219 individuals were found without ...Read More >
MUMBAI: The sensex rallied 747 points (0.9%) on Friday to close at 82,189 points after RBI cut interest rate by 50 basis points (100bps = 1 percentage point), a move that market players feel has the potential to spur economic growth with loans becoming cheaper. Banking and financial stocks led the day's rally that added about Rs 3.6 lakh crore to investors' wealth with BSE's market capitalisation now at slightly over Rs 451 lakh crore.Nifty closed 249 points (1%) higher at 25,003 points. Most ma ...Read More >
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