RSS Feed
Twitter
6:10 PM
Blogger
Kotak Mahindra Bank reported a 14% drop in standalone net profit for Q4 FY25, totaling Rs 3,552 crore. However, FY25 saw a 19% surge to Rs 16,450 crore, boosted by a one-time gain from Kotak General Insurance divestment. The bank's net interest income and customer assets also experienced growth, while the Board recommended a dividend of Rs 2.50 per share.from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/8E1gYyU
State Bank of India's net profit decreased for the fourth quarter. However, Net Interest Income increased. The bank's asset quality improved. Gross NPA and net NPA ratios declined. SBI plans to raise equity capital during fiscal year twenty six. The bank declared a dividend of fifteen rupees ninety paise per share. Operating profit increased compared to the previous year.
Bank of Baroda projects the Indian rupee to strengthen to 84-85 against the US dollar, driven by a weak dollar, falling oil prices, and renewed foreign investment. Positive trade talk signals and India's strong macroeconomic position are also contributing factors. However, escalating US-China trade tensions remain a key risk.
An RBI panel suggests extending money market hours to 7pm, aiming to provide banks with greater flexibility in managing liquidity and accessing funds. This shift addresses the expansion and increased complexity of India's financial markets since 2019. The proposal includes adjustments to trading and settlement windows for various instruments, along with changes to the liquidity adjustment facility auction timings.
The Reserve Bank of India (RBI) has levied penalties on ICICI Bank, Bank of Baroda, IDBI Bank, and Bank of Maharashtra for regulatory compliance deficiencies. ICICI Bank faces a Rs 97.80 lakh penalty for KYC, cybersecurity, and credit card-related non-compliance. Bank of Baroda is penalized Rs 61.40 lakh for shortcomings in financial and customer services.
S&P Global Ratings has lowered India's GDP growth forecasts for 2025-26 and 2026-27, citing trade-related uncertainties stemming from potential US tariff policies. This revision aligns with similar downward adjustments by the Reserve Bank of India.
Indians are accessing credit much earlier, with the average age for first-time borrowers dropping significantly across generations. This shift is driven by increased disposable income, pre-approved loans from banks, and the availability of unsecured credit products like credit cards and personal loans. The Jan Dhan-Aadhaar-Mobile trinity has also streamlined borrower tracking, contributing to this trend.
Starting June 16, 2025, UPI transactions are poised to become faster as NPCI mandates reduced response times for key APIs. The response time for commonly used UPI APIs, such as Request Pay and Check Transaction Status, will be reduced to 15 and 10 seconds, respectively.
Bank Holidays May 2025: In May 2025, bank holidays will vary across Indian states, impacting banking services. Closures are scheduled for Labour Day/Maharashtra Day, Rabindranath Tagore Jayanti, Buddha Purnima, State Day, Kazi Nazrul Islam's Birthday, and Maharana Pratap Jayanti.
IndusInd Bank has increased its fixed deposit interest rates for various tenures, especially short-term ones, while Kotak Mahindra Bank has marginally reduced rates on specific tenures and introduced a new short-term FD. IndusInd Bank's rates now range from 3.50% to 7.75% for the general public and 4% to 8.25% for senior citizens, whereas Kotak Mahindra Bank offers 2.75% to 7.
Banks across India, except in Karnataka, will remain open on April 30, 2025, despite Akshaya Tritiya. Karnataka observes a bank holiday for Basava Jayanti and Akshaya Tritiya, impacting both public and private sector banks.
The Reserve Bank of India (RBI) has been aggressively buying gold for the last few years. Analysis of World Gold Council data shows that the percentage of gold in India’s total foreign exchange reserves has spiked in the last few years.
To enhance security and transparency, NPCI mandates UPI apps to display only verified bank names for transactions by June 30, 2025. This directive aims to curb rising UPI frauds caused by misleading display names, ensuring users see the 'ultimate beneficiary name' from Core Banking System.
The Reserve Bank of India (RBI) will purchase ₹1.25 lakh crore of government securities in May through open market operations (OMOs) to bolster liquidity in the banking system. This initiative, conducted in four tranches, follows liquidity-easing efforts in April, including OMOs and variable rate repo operations.
Starting May 1, 2025, the RBI's revised ATM transaction framework will introduce changes to free limits and charges. Customers get three free ATM transactions in metro areas and five elsewhere. Beyond these, a Rs 23 fee applies, prompting banks like HDFC and PNB to notify customers of the updated charges, aiming to streamline usage and promote digital banking.
Gold prices experienced significant volatility, initially soaring to record highs due to safe-haven demand amid geopolitical and economic uncertainties last week. However, prices corrected sharply following signals of potential trade negotiations and peace efforts. Investors are closely monitoring central bank independence, inflation expectations, and U.S. economic data for future policy direction.
Stock market recommendations: Motilal Oswal Financial Services recommends ICICI Bank and 360 One WAM as top stock picks for the week starting April 28, 2025. ICICI Bank's Q4 performance showcased robust growth. 360 ONE reported record PAT, fueled by recurring revenue growth.
IndusInd Bank will absorb a Rs 1,956 crore charge in Q4 FY25 due to discrepancies in derivatives valuation, following an independent investigation prompted by RBI's tightened rules. Internal derivative trades between the asset-liability management desk and treasury led to overstated earnings. The bank plans to hold employees accountable for these lapses.
