HDFC may cut stake in HDB or segregate biz to meet overlap rule
Mumbai: India’s most-valued lender, HDFC Bank, could consider bringing down its stake in HDB Financial Services to below 20% or segregate products between both entities if a draft central bank circular on the overlap of similar businesses is mandated as applicable guidelines, said an analysis by brokerage house Macquarie Capital. While HDFC Bank also has…
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New RBI Governor: 3 potential changes to track under Finance Ministry insider Sanjay Malhotra
As yet another Finance Ministry insider and revenue secretary Sanjay Malhotra takes charge of the Reserve Bank of India (RBI) from Wednesday, market experts say the selection of two career bureaucrats as RBI Governor in a row indicates the government’s comfort with having a bureaucrat rather than a technocrat at the central bank’s helm. “In…
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CRR reduction: A catalyst for credit growth; SBI, HDFC Bank could give 10-15% return
ETMarkets.com In the Reserve Bank of Indiaβs (RBIβs) Monetary Policy Committee (MPC) meeting on December 6, 2024, the cash reserve ratio (CRR) was reduced from 4.5% to 4%, releasing additional liquidity into the banking system. This move is expected to enhance the lending capacity of banks, supporting credit growth and economic recovery. On the other…
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RBI monetary policy: MPC cuts CRR by 50 bps to 4%; market turns positive
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Friday reduced the Cash Reserve Ratio (CRR) by 50 basis points to 4%, bringing it back to the level before the policy tightening cycle began in April 2022. The announcement was made by Governor Shaktikanta Das in his final speech of this…
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UCO Bank, other PSU bank stocks rally up to 8% as investors expect CRR cut from RBI
Shares of PSU bank stocks like UCO Bank and Central Bank of India rallied up to 8% on Wednesday as a three-day meeting of the Reserve Bank of India (RBI)’s rate-setting panel began today in which brokerages expect Governor Shaktikanta Das to cut cash reserve ratio (CRR). Global brokerage firm Citi said that if the…
READ MORERate cuts likely to optimise home affordability in next 12 months, Kolkata most affordable: Report
India’s housing market is expected to see a significant shift in affordability by 2025, driven by a projected cumulative 50-basis-point cut in interest rates over the next few months, which is anticipated to make home ownership more accessible for buyers, showed a JLL India study.Affordability in the housing market has declined year-on-year since 2022 due…
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Paytm shares pop 5% after receiving NPCI nod to onboard new UPI users
Shares of One 97 Communications-owned Paytm jumped 5% to an intraday high of Rs 722.50 on the BSE after the National Payments Corporation of India (NPCI) granted the company approval to onboard new UPI users, subject to adherence to all procedural guidelines and circulars. “We would like to inform you that vide letter dated October…
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Gold loan companies slip as RBI orders corrective measures for lapses
Mumbai: Shares of gold loan companies lost sheen on Tuesday after the Reserve Bank of India (RBI) called for these companies to take corrective measures for the lapses in loan sanctioning practices in the next three months. Muthoot Finance fell 3.9% and Manappuram Finance declined 1.9% as analysts see the central bank’s action weighing on…
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IndusInd Intl to raise Rs 3,000 cr via NCDs to fund Reliance Capital buyout
Mauritius-based IndusInd International Holdings (IIHL), through its subsidiary Cyqure India, plans to raise βΉ3,000 crore by issuing 14.50% non-convertible debentures (NCDs) maturing in 2028. These NCDs, set to be zero-coupon, senior secured, listed, rated, and redeemable, will be used to finance IIHL’s acquisition of Anil Ambani-promoted Reliance Capital (RCap). The issuance will have a 42-month…
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Rate swap traders bet on 50 bps cut in February on global dovish tilt
The Reserve Bank of India’s commentary and inflation forecasts may not provide visibility on when rates may fall but swap traders are betting on a 50 basis-point cut in local borrowing costs starting February 2025 as central banks globally start tilting towards a softer monetary policy. A basis point is a hundredth of a percentage…
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