Penalties surge as RBI cracks the whip on lenders
Mumbai: Increasing enforcement of penalties by the Reserve Bank of India (RBI) last fiscal are reflected in the sharp jump on bank payments under such heads during the year. Reserve Bank of India (RBI) data in the annually published Trend and Progress of Banking in India 2023-24 shows that the total penalties paid by public…
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India needs Rs 1,000 lk cr to meet ‘Viksit’ goals by 2036: SBI chief CS Setty
Mumbai: India will need ₹1,094 lakh crore to ensure an average annual growth rate of 8-9% by 2036 as per the government’s Viksit Bharat plan, State Bank of India chairman CS Setty said. Out of this amount, ₹323 lakh crore has to come from banks while the equity market will have to generate ₹643 lakh…
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Mcap of four of top-10 most valued firms erode by Rs 96,605.66 cr; HDFC Bank hit hard
The combined market valuation of four of the top-10 most valued firms eroded by Rs 96,605.66 crore last week, with HDFC Bank taking the biggest hit. While Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank and State Bank of India suffered erosion from their valuation, Reliance Industries, Bharti Airtel, Infosys, ITC, Life Insurance Corporation of…
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SBI shares drop 2% on Rama Mohan Rao Amara’s appointment as new MD
Shares of the state-owned State Bank of India (SBI) fell by 2.2% on Thursday to an intraday low of Rs 820.10 on the BSE as the company announced the appointment of Rama Mohan Rao Amara as the Managing Director (MD) of the bank. “Vide Notification No. 2/1/2024-BO.I dated 18.12.2024, issued by Department of Financial Services,…
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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 India’s (RBI’s) 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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Mcap of nine of top-10 most valued firms surges Rs 2.29 lakh cr; LIC biggest winner
The combined market valuation of nine of the top-10 most valued firms surged Rs 2,29,589.86 crore last week, with Life Insurance Corporation of India emerging as the biggest gainer, in tandem with a rally in benchmark indices. Last week, BSE benchmark Sensex jumped 685.68 points or 0.86 per cent and NSE Nifty climbed 223.85 points…
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Sensex surges over 750 points, Nifty reclaims 24,100 as bulls attempt a comeback
Indian benchmark equity indices rebounded sharply on Friday after their steepest drop in nearly two months during the previous session, as traders adjusted their positions for the monthly derivatives expiry. The BSE Sensex was trading 770 points, or 0.97%, higher at 79,814. The Nifty50 was up 217 points, or 0.91%, trading at 24,131 around 11:05…
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Q2 review: 14 stocks in BSE PSU index rebound from 52-week lows, 5 turn multibaggers
With Q2FY25 earnings behind now, a performance analysis of PSU companies reveals 14 stocks which have not just shown a double-digit growth in their July-September quarter revenue and net profit but also posted double-digit returns from their respective 52 week lows. In this, five stocks are multibaggers viz. National Aluminium Company (NALCO), Housing & Urban…
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US charges may slow Adani Group’s fundraising plans
Mumbai: The US Securities and Exchange Commission’s (SEC) charges against Adani Group promoter Gautam Adani and others including his nephew Sagar Adani in a bribery and fraud case, may not have any immediate impact on the group’s financials but are likely to slow down ongoing fundraising plans. Domestic banks and financial institutions, which are the…
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Mcap of 8 of top-10 most-valued domestic firms jumps Rs 1.55 lakh cr; HDFC Bank, TCS sparkle
Eight of the top-10 most valued domestic firms together added Rs 1,55,603.45 crore in market valuation last week, with HDFC Bank and Tata Consultancy Services emerging as the biggest gainers, in tandem with firm trend in equities. Last week, the BSE benchmark zoomed 1,536.8 points, or 1.98 per cent, and the Nifty climbed 374.55 points,…
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