RSS Feed
Twitter
11:10 AM
Blogger
In September, banks throughout India will close for various festive occasions. On September 4th, multiple states will celebrate Janmashtami, resulting in branch closures. Following this, Ganesh Chaturthi on September 14th and 15th will also see numerous banks shut across different regions. Additional local holidays and elections will contribute to this schedule. However, customers can continue to access ATMs and digital banking services during these times.from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/1mESanL
Federal Reserve Chair Kevin Warsh has signaled that interest rates might rise in the near future, given that inflation continues to far exceed the central bank's two percent goal. He raised concerns about the persistent underlying price pressures, which have not shown significant improvement. This news prompted bond markets to adjust their forecasts, indicating a likely rate hike on the horizon. Warsh reiterated that managing inflation is a top priority.
India's foreign exchange reserves reached an all-time high of $729.328 billion. This surge marks eight consecutive weeks of significant increases in reserves. Foreign currency assets and gold holdings were the primary drivers of this substantial rise. Measures to attract overseas dollar inflows contributed to the record accumulation of reserves. The Reserve Bank of India's interventions also played a role in managing these inflows.
The government has raised over Rs 62,000 crore through disinvestment and asset monetisation. This figure represents 78% of the full-year budget target for FY27. The Life Insurance Corporation stake sale contributed significantly to these proceeds. Other public sector entities also saw stake dilutions by the government. The strategic sale of IDBI Bank is currently being pursued by authorities.
HDFC Bank CEO Sashidhar Jagdishan’s tenure is set to expire on Oct 26. “There are just 2 months left and there is still no clarity about his extension/renewal. Markets have been worried about succession issues at HDFC Bank for some time now, as a result of which the stock has been weak,” said Suresh Ganapathy, an analyst with Macquarie.
Top stock market recommendations: Vedanta, Central Depository Services (India) Ltd (CDSL), and Ashok Leyland - Aakash K Hindocha, Vice President - Research, Nuvama Professional Clients Group/Nuvama Wealth has picked these as the top stocks to buy on August 27, 2026. He has shared his views on Nifty and Bank Nifty:
When two earning members of a household apply together for a loan, their combined income can potentially improve loan eligibility and help manage repayment burden more efficiently. Most banks and HFCs reiterate that adding an earning family member as a co-applicant can improve their borrowing eligibility.
Mark your calendars: many bank branches will observe closures on Wednesday, August 26, for the Id-E-Milad and Thiruvonam festivals. Although branches will be closed, customers can still use ATMs and online services. Don’t forget that banks will also shut down for a regular holiday on Sunday, August 30, followed by Raksha Bandhan closures on August 28.
Beyond consolidation, banks need to narrow the credit-deposit gap, mobilise stable low-cost deposits and curb concentration in high-risk unsecured retail loans while expanding credit to MSMEs, infrastructure and green investments. To measure efficiency, the study treated banks as institutions that use resources such as fixed assets, borrowed funds, operating expenses and employee costs to generate loans, deposits, investments and net profits.
The Reserve Bank of India likely intervened in foreign exchange markets. Elevated oil prices and corporate dollar demand pressured the rupee. State-run banks offered dollars, indicating central bank action. The rupee remained range-bound for two weeks due to sustained intervention. Geopolitical tensions and equity market weakness also impacted the currency.
On Tuesday, the Indian Rupee faced a minor decline against the US dollar, influenced by rising crude oil prices and increased demand from importers. The Reserve Bank of India stepped in to stabilize the currency, keeping its fluctuations minimal. Meanwhile, domestic equities opened softly, although foreign institutional investors maintained their purchasing momentum in the stock market.
Stock market recommendations: Viyash Scientific, and AU Small Finance Bank - have been picked as the top stocks to buy on August 24, 2026 by Sudeep Shah, Head - Technical Research and Derivatives, SBI Securities.
Falling Behind Private & Foreign Banks In Credit Cards, Getting Contracts From GCCs
SBI customers will face charges for cash withdrawals exceeding four free monthly transactions. A fee of Rs 15 plus GST applies to Basic Savings Bank Deposit accounts. Digital transactions remain free, and Aadhaar Enabled Payment System transactions are now counted. Interest rates on bulk term deposits were revised earlier this month. SBI reported a profit increase for the first quarter of FY27.
On Friday morning, the rupee showed signs of strength against the US dollar. Despite the upward trend, high crude oil prices and ongoing geopolitical tensions are pressuring the currency. The Reserve Bank of India anticipates notable foreign currency inflows this year, though these have yet to result in significant rupee gains. Additionally, domestic equities began trading on a slightly weaker note.
