In keeping with the overall decline in lending and deposit rates, Federal Bank has cut the interest rates offered on domestic fixed deposits by 0.50 to 0.25 percentage points. The heaviest cut is in the short-term deposit rate, where interest rate has been cut to 3.5% from 4.00% earlier. On longer-term maturities, interest rate has […]
MMP Mobi Wallet Payment Systems, a subsidiary of Tata Teleservices, announced a tie up today with Manappuram Finance, one of India’s leading gold loan NBFCs, for providing online repayment option to its customers. At present, gold loan customers have to physically go to the NBFC’s branches every month to pay interest and keep the loan […]
Bharti Airtel, India’s biggest telecom company, will raise funds by issuing ten-year, dollar-denominated bonds, the company said in a statement. The bonds are expected to be listed on the Singapore Stock Exchange, it said. They will be senior debt, but will be unsecured against the company’s assets. Bharti Airtel recently completed a long-drawn spectrum auction […]
Pointing to a flattening out of the disinflationary trend, Emkay Global Financial Services said the Reserve Bank of India is unlikely to continue much farther with the ongoing rate-easing cycle. The RBI cut key interest rates by 25 basis points today – the third such cut this year – as inflation showed signs of easing […]
State Bank of India, the country’s biggest bank has expressed concern over continuing weak demand in the economy due to “entrenched disinflationary impetus and weak demand,” and suggested that the RBI should cut key interest rates. While economic growth is moderately strong right now, it said, these factors will impact IIP (Index of Industrial Production) […]
Private Equity firms invested about $2,646 million across 124 deals during the quarter ended March 2015, according to early data from Venture Intelligence, a research firm focused on private company financials, transactions and their valuations. The investment amount was 20% higher than that invested in the same period last year ($2,212 million across 132 transactions), […]
The Indian government’s poor financial condition is the weakest aspect of India’s credit profile, international ratings agency Moody’s has said, adding that state-owned banks’ poor assets are another area of concern. On the other hand, strong private savings and growth are positive aspects to the Indian economy, Moody’s added. “Government finances are the weakest aspect […]
The Indian mutual fund industry’s assets under management crossed the Rs 12 trillion mark in February, ending at 12.02 trillion, according to the monthly numbers released by the Association of Mutual Funds in India (AMFI). This is the first time the industry’s assets have crossed the Rs 12 trillion mark. Gains were led by inflows […]
On the heels of revising the way in which the Gross Domestic Product or GDP of the country is calculated, the Central Statistics Office has revised the parameters for calculating consumer price inflation. According to the new method, January CPI inflation rose to 5.11% from 4.28% in December, while it was 5% under the old […]
IDBI reported a net profit of Rs 103 Crore for the quarter ended December 31, 2014 as against Rs 104 Crore for the quarter ended December 31, 2013. Total business (deposits and advances) as of December 31, 2014 stood at Rs 4,30,502 Crore as against Rs 3,72,387 Crore as of December 31, 2013, registering a […]
The Indian mutual fund industry’s assets under management (AUM) rose 12% or by Rs 1.30 trillion in January 2015 to Rs 11.81 trillion, according to the monthly numbers released by the Association of Mutual Funds in India (AMFI). The total shares held by mutual funds in pure equity funds were worth over Rs 34,00,00,00,00,000 (3.4 […]
Deutsche Bank said it is likely that the Reserve Bank of India would next cut policy interest rates in early March, and follow that up with more cuts through this year. It also said it was looking at the revised GDP numbers with “some degree of caution”. “The RBI will not only cut in early-March, […]
Reserve Bank of India governor Raghuram Rajan today kept key interest rates unchanged, even as he reduced mandatory cash-reserve requirements for banks in an effort to make more money available for lending. The broad reaction from the market – whether from corporates or financial services industry – was that the development was on expected lines. […]
Almost no one in the analyst community expects Reserve Bank of India Governor Raghuram Rajan to cut key interest rates during his monetary policy review tomorrow. Rajan was widely expected to cut the repo rate, at which RBI lends to the banks, tomorrow, but the governor caught the market by surprise two weeks ago with […]
Close on the heels of Airtel tying up with Kotak Mahindra Bank, Mukesh Ambani’s Reliance Industries Ltd has announced that government-controlled State Bank of India will be its partner in its payment bank venture. The day also saw Future Group, which runs Big Bazaar, and Idea Cellular, announcing that they too have applied for payments […]
The recent cut of a quarter of a percentage point in key interest rates by the Reserve Bank of India will not have any immediate impact in rates charged by banks on loans, DBS Bank said in a note. It also said the RBI is likely to go for another 50bp reduction in interest rates […]
India’s working population relies heavily on cash deposits and second domestic property to generate post-retirement income, according to HSBC’s latest report – The Future of Retirement A balancing act. The report also shows, working people in India believe that buying a house and paying for children’s education were the top two factors, which have significantly […]
The Reserve Bank of India is very likely to start cutting India’s key interest rates early next month, CARE Ratings said after India’s December consumer inflation number came in at a manageable 5%. It was widely expected that the recent fall in consumer inflation could undergo some reversals in December and January, and the falling […]
State Bank of India, the country’s largest bank, said it expects the Reserve Bank of India to cut key interest rates only after sees a “sustained” downward trend in inflation, and this is likely to take at least 2-3 months more. “We maintain that RBI may go for the rate cut in a decisive manner […]
The HSBC India Purchasing Managers’ Index (PMI) – a composite indicator designed to give an accurate overview of manufacturing operating conditions – reached a 21-month peak in November, the bank said. However, inflationary pressures intensified during the month, following three consecutive months of easing, HSBC said. “Among the surveyed sub-categories, the sharpest increase in purchase […]
