Gold prices in Delhi plunge as the year ends

Gold prices in Delhi fell below Rs 79,000 per 10 grams due to low stockist and retailer demand. Silver experienced a significant drop as well. Analysts cite geopolitical uncertainties, interest rate cuts, and robust demand from central banks and high-net-worth individuals as factors for the previous surge. Thin trading volumes during the holiday period have kept prices range-bound. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.t...

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'NPAs may go up by 2026, write-offs signal stress'

Indian banks' gross NPAs stood at a 12-year low of 2.6% in Sept 2024, but RBI's stress test warns it could rise to 3% by March 2026. Concerns include increasing write-offs by private banks and higher fresh NPAs in retail loans. The stress test also highlighted risks in microfinance and consumer credit segments, along with global tokenisation threats. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ETJpB...

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Comprehensive Guide: Full List of Bank Holidays in 2025 Across India

from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/p98om...

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RBI flags high attrition in private banks

High attrition rates in private sector and small finance banks are a significant risk factor, causing operational disruptions and increased recruitment costs. The Reserve Bank of India highlights the importance of strategic measures, including improved onboarding, training, and competitive benefits, to retain talent and ensure stability within the banking sector. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/4wozk...

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High employee attrition of 25 per cent in private banks pose operational risk: RBI Report

Employee attrition in private sector banks in India has increased to around 25%, posing significant operational risks, according to the RBI's 2023-24 banking report. The report highlights the need for banks to adopt strategic measures to reduce turnover and ensure effective loan policies, especially concerning gold loans. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7Fham...

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M-cap of six of top-10 most valued firms increased Rs 86,847.88 crore

Six leading firms among the top-10 most valued companies collectively gained Rs 86,847.88 crore in market value last week, with HDFC Bank and Reliance Industries leading the gains. The BSE and Nifty both saw modest increases. Meanwhile, four companies, including TCS and Infosys, faced declines in their market valuations. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/w7f4m...

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IndusInd looks to sell Rs 1.5k crore microfinance NPAs

IndusInd Bank plans to auction Rs 1,573 crore worth of non-performing microfinance loans, setting a reserve price of Rs 85 crore, indicating a significant loss. The bank's promoters have pledged additional shares, raising the total pledged share capital to 6.86%, to secure an existing loan. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/RcPLi...

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India should seek to push potential growth from 6% to 8%: World Bank chief economist

Indermit Gill, World Bank chief economist, emphasizes India's potential to elevate its growth from 6% to 8% by enhancing efficiency and economic freedom, focusing on quality education, staying open to FDI and trade, and improving women's workforce participation. India's favourable demographics and balanced economy support these prospects. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/cDfZE...

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Banks sue US Fed over stress tests, seek transparency

from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/tU9RH...

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Sri Lanka central bank fines Indian Bank

from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/JUwDN...

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Ex-finance minister Arun Jaitley had given go-ahead to clean up bad loans, says Raghuram Rajan

Former RBI Governor Raghuram Rajan revealed that ex-Finance Minister Arun Jaitley supported his decisive action on tackling bad bank loans. Rajan attributed the NPA surge to corruption, delayed clearances, and the global financial crisis. He also pointed to slow government recapitalization hindering lending. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/bdUqa...

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Sensex tanks nearly 1,000 pts on US Fed's cautious stance

Indian stock markets tumbled on Thursday, with Sensex closing below 80,000 and Nifty below 24,000 for the first time since late November. The sell-off, driven by hawkish US Fed statements and foreign fund outflows, wiped out Rs 3.8 lakh crore in investor wealth. Selling pressure was broad-based, with ICICI Bank, Reliance, and HDFC Bank leading the decline. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/IiyuR...

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Times Internet, ICICI Bank unveil super-premium metal credit card

from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/CFcQn...

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Ahead of IPO, DAM Capital Advisors collects Rs 251 crore from anchor investors

DAM Capital Advisors has raised Rs 251 crore from anchor investors, including prominent names like Nomura, Goldman Sachs, and several mutual funds. The investment bank's IPO, entirely an offer-for-sale, opens on December 19th with a price band of Rs 269-283 per share, aiming for a Rs 2,000 crore market capitalization. Listing is expected on December 27th. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/nEJc2...

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These special FDs offer up to 8.10% interest rate: Here’s the deadline for investing in high rate fixed deposits

Punjab & Sind Bank and IDBI Bank are offering special fixed deposit (FD) schemes with higher interest rates until December 31, 2024. IDBI's Utsav FD offers rates up to 7.85% for senior citizens. Punjab & Sind Bank provides rates up to 8.10% for super senior citizens on select FDs with varying tenures. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/D25rK...

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Rs 12 lakh crore loans written off in 10 years, half of it by PSU banks in last 5 years

from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/CiTQq...

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JSW gets back Rs 4k cr assets in Rs 47k cr Bhushan Steel case

The Enforcement Directorate (ED) has returned properties worth Rs 4,025 crore to JSW Steel, the successful bidder for the bankrupt Bhushan Power and Steel Ltd (BPSL). The assets were originally seized by the ED during a money laundering investigation that revealed BPSL's former promoters had defrauded banks of Rs 47,204 crore. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/othRG...

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Gold rally may slow down in 2025: WGC

Gold prices, after surging over 30% in 2024, are projected to moderate in 2025. Factors like economic growth, inflation, potential trade wars under Trump's second term, and interest rate uncertainty could dampen investor and consumer demand. While central bank buying and geopolitical tensions fueled the 2024 rally, a stronger dollar post-election has stalled gains. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Fnlm7...

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Gross NPAs of PSU banks drop to 3.1% from 14.6% in '18

Public sector banks (PSBs) in India have seen their gross non-performing assets (GNPA) ratio fall to a historic low of 3.1% as of September 2024. This improvement is attributed to the 4R strategy, recapitalization efforts, and reforms. PSBs' profitability has surged, with net profits reaching ₹1.4 lakh crore in FY24. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/dtHzS...

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New bank account, locker rules soon? Banking Amendment Bill allows up to 4 nominees - check what’s about to change

The Lok Sabha approved a bill allowing bank account and locker holders to designate up to four nominees. This change simplifies asset distribution after death. The bill awaits Rajya Sabha approval and presidential assent for implementation. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/a9sem...

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Focus on policy stability & sustaining growth: RBI governor

Sanjay Malhotra, the new RBI governor, emphasized stability, trust, and growth as the central bank's core values. He stressed the importance of financial inclusion in fostering India's continued growth trajectory. While prioritizing policy stability, Malhotra promised agility and a consultative approach, acknowledging the need for diverse expertise in navigating a complex global landscape. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https...

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Outgoing RBI governor Shaktikanta Das leaves a lasting legacy

Shaktikanta Das, concluding his six-year term as India's central bank governor, navigated the RBI through a pandemic and digitization, defying initial skepticism. Despite lacking formal economic training, he prioritized financial stability, built up forex reserves, and fostered a modern digital payments system. His successor, Sanjay Malhotra, inherits a strong foundation but faces global market uncertainties. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World...

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New RBI governor faces 'trilemma' of growth, inflation, rupee-dollar rate

RBI's new governor, Sanjay Malhotra, faces the tough task of balancing India's economic growth, inflation, and exchange rate amid US election fallout and government pressure for lower interest rates. He must also tackle regulatory reforms, digital fraud, and mis-selling of financial products, impacting bank lending and consumer protection. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2owMF...

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Revenue secretary Sanjay Malhotra to be next RBI governor

Revenue secretary Sanjay Malhotra has been appointed as the new RBI governor, succeeding Shaktikanta Das. The 56-year-old IIT Kanpur and Princeton University alumnus will begin his three-year term on December 11th. Malhotra's appointment marks a continuation of bureaucratic leadership at the central bank, following Das's tenure of close coordination with the government. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/QWE1b...

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New RBI governor: Who is Sanjay Malhotra? Meet the Revenue Secretary who will succeed Shaktikanta Das as 26th RBI governor

Sanjay Malhotra, the Revenue Secretary, has been appointed as new Reserve Bank of India (RBI) governor by the Narendra Modi government. Malhotra will succeed Shakikanta Das whose tenure is scheduled to end on December 10, 2024. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/HeTmV...

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ICICI Bank customers take note! This money transfer service will not be available for some time on December 14 & 15

ICICI Bank has scheduled RTGS maintenance on December 14, 2024, and on December 15, 2024, delaying incoming and outgoing transactions. Customers can still use NEFT, IMPS, and UPI during this time. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/qPtUk...

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HDFC Bank hikes MCLR by up to 5 basis points; here are the latest HDFC Bank lending rates

HDFC Bank has raised its Marginal Cost of Funds-Based Lending Rate (MCLR) by up to 5 basis points for short-term loans. The overnight MCLR now stands at 9.20%, effective December 7, 2024. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/URLjY...

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RBI cuts CRR: Will bank fixed deposit rates come down soon?

Bank fixed deposit rates are expected to remain stable through FY25 due to sufficient liquidity from reduced credit expansion and a recent CRR cut. While a downward trend is possible, actual rate reductions are contingent on the RBI lowering its repo rate. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3MicC...

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Dalal street gains positive momentum with a jump of Rs 2 lakh crore; TCS, HDFC lead gainers

Indian stock markets witnessed a surge last week, with six of the top 10 companies adding over ₹2 trillion in market value. TCS, HDFC Bank, and Reliance Industries led the gains, while Bharti Airtel and ITC experienced declines. Both the BSE and NSE indices closed significantly higher. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/JRW16...

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'Ahead of the curve': RBI introduces podcast for effective public information sharing

The Reserve Bank of India (RBI) is launching podcasts to enhance communication and transparency, particularly targeting younger audiences. The RBI also maintained the repo rate at 6.5%, lowered the GDP growth forecast to 6.6%, and reduced the CRR to inject liquidity. However, the retail inflation projection was raised to 4.8%. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Vtw0Y...

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Indian foreign exchange strengthens again after a multi week low

India's forex reserves rebounded by $1.51 billion to $658.09 billion after an eight-month decline. The Reserve Bank of India's intervention aimed to stabilize the rupee and mitigate global economic shocks. The increase follows a $71 billion drop in 2022, with $58 billion added in 2023. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/tone9...

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SBI projects GDP growth at 6.3% for FY25, below RBI's 6.6% estimate

SBI projects India's FY25 GDP growth at 6.3%, lower than RBI's revised 6.6% forecast. The first two quarters averaged 6.05% growth. RBI, after initially increasing its projection, lowered it due to balanced economic risks. A CRR reduction will inject ₹1.16 lakh crore into the banking system, potentially improving banks' net interest margins. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ZQjfI...

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RBI cuts CRR 50 bps, trims FY25 GDP forecast to 6.6%

The Reserve Bank of India (RBI) maintained its policy rate at 6.5% but lowered the economic growth forecast for 2024-25 to 6.6% from 7.2%. A CRR cut to 4% will release ₹1.6 lakh crore for banks. The RBI acknowledged a recent economic slowdown but anticipates a recovery driven by festive demand and improved agricultural output. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/eh3Tf...

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Cheer for NRIs! Earn higher interest rates on FCNR(B) deposits till March 31, 2025 - here’s how

The Reserve Bank of India (RBI) has raised the interest rate ceiling on Foreign Currency Non-Resident (Bank) or FCNR(B) deposits to attract more foreign currency. For deposits maturing in one to less than three years, the new ceiling is the overnight Alternative Reference Rate (ARR) plus 400 basis points, effective until March 2025. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/SugRA...

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RBI hikes FY25 inflation estimate to 4.8% amid food price concerns; CPI to remain elevated in Q3

The Reserve Bank of India (RBI) raised its inflation forecast for fiscal year 2025 to 4.8% due to a surge in food prices. Retail inflation hit 6.2% in October. While near-term inflation remains high, the RBI expects moderation in the fourth quarter due to easing vegetable prices and strong harvests. The RBI maintained its benchmark repo rate at 6. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/my69f...

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Why did RBI governor Shaktikanta Das-led MPC not cut repo rate despite GDP shocker? Top 5 points to know

RBI MPC meeting: The Reserve Bank of India (RBI) maintained the repo rate at 6.5% while reducing the Cash Reserve Ratio (CRR) to 4%. The RBI acknowledged a growth slowdown, revising the GDP forecast to 6.6% and increasing the inflation estimate to 4.8%. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/oSRWL...

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Avoiding ATM fake shutter fraud: Why some ATMs will now retract cash as per RBI mandate

The Reserve Bank of India has partially reinstated ATM cash retraction to combat new ATM fraud involving fake slot covers. This feature, disabled in 2012, allows ATMs to retrieve uncollected cash, protecting customers. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/zpZKn...

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UPI Lite new rules 2024: RBI increases UPI Lite wallet, transaction limits - here's what UPI users should know

The Reserve Bank of India has increased the UPI Lite transaction limit and the total wallet capacity. This change aims to boost digital payments, especially in areas with poor internet connectivity, by enabling faster offline transactions without a UPI PIN for small purchases. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/iXtp4...

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Billionaire Poonawalla’s lender to double staff in growth blitz

Poonawalla Fincorp Ltd., led by CEO Arvind Kapil, plans to double its workforce and expand into new lending sectors, aiming to reach $17.7 billion in assets within five years. The company will add branches and offer loans for gold, used cars, and education, focusing on salaried employees at major Indian companies despite recent increased scrutiny on shadow banks. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3vtA1...

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China still Pakistan's top bilateral creditor, share down to 22% from 25% last year: WB

Pakistan's external debt reached $130.85 billion in 2024, with China and Saudi Arabia as the largest bilateral creditors. The World Bank report highlights Pakistan's high debt-to-export ratio and substantial debt servicing burden, exceeding 40% of export earnings. The nation faces a $100 billion repayment challenge over the next four years, while navigating an IMF program. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/L3TWO...

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SBI customers take note of new scam! Imposters extorting money with these 7 steps

SBI has alerted its customers about scammers posing as CBI or IT officials to extort money. These scammers use fake narratives and staged evidence to convince and frighten victims. Consumers are advised to verify identities, avoid sharing sensitive information, and report suspicious activities to banks and authorities. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/yWSsm...

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Bank credit growth slows to 11% from over 20% in year

Bank credit growth has slowed to 11.1% as of Nov 15, 2024, compared to 20.6% the previous year. Deposit growth also decreased, with banking system deposits rising by only 6.7% since March. Banks are liquidating govt bonds due to slower deposit growth. Retail lending and NBFC loans have similarly declined. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/8mWzN...

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Bank accounts can soon have 4 nominees each

from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5z0ch...

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Speculation over RBI chief Shaktikanta Das' future heats up after GDP miss

Economists are speculating over the future of Das in the wake of data showing the South Asian economy expanded 5.4% from July to September, a seven-quarter low and far below the Reserve Bank of India’s 7% projection. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/WQPqm...

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Sebi attaches Rel Big's bank, demat accounts

from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/IQW5S...

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GDP shocker: How it may impact Indian stock market

India’s economic growth slowed in the September quarter, leading to concerns about stock market weakness. Market participants expect a recovery if the Reserve Bank of India cuts interest rates or reduces cash reserve ratios. Analysts have mixed views on the extent of further market corrections but anticipate limited near-term upside due to earnings and valuation issues. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/hWyRx...

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India signs $98 million deal with ADB to enhance horticulture yields

India has secured a $98 million loan from the Asian Development Bank to enhance productivity in horticulture crops by providing farmers with certified disease-free planting materials. This initiative aims to establish clean plant centers, improve crop yields, and boost resilience against climate impacts, aligning with the government's Atmanirbhar Clean Plant Programme. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/SpYn0...

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Bank Holidays December 2024: On what days will banks be closed in December? Check state-wise holiday list

Bank Holidays December 2024: Bank closures in December 2024 will occur for various regional and national holidays. Notable dates include Feast of St. Francis Xavier, Goa Liberation Day, and Christmas. Specific closures vary by state, with the Reserve Bank of India providing the schedule. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Nmj4n...

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Top Fixed Deposit Rates: These bank FDs will earn you up to 9% return for 3-year deposits - check list

Top Bank FD rates: Several small finance banks offer competitive fixed deposit rates up to 9% for three-year terms. While these rates are attractive, depositors should be aware of the Rs 5 lakh DICGC insurance limit and invest prudently. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/zIU40...

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Vodafone Idea shares surge 18% after Union Cabinet approves bank guarantee waiver

Vodafone Idea's shares surged nearly 18% after the government waived bank guarantees for spectrum dues. This move significantly benefits Vi, which faced a substantial obligation. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/b1l76...

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