RBI likely to keep rates steady as economic growth slows, global rates ease: Report

The Reserve Bank of India is expected to maintain the 6.5% repo rate, with some speculating a shift to neutral potentially leading to future rate cuts. Despite slow economic growth and easing global rates, inflation stays below the central bank's target. The monetary policy committee's new members might influence future rate decisions.

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HDFC Bank hikes loan rates for some tenures by up to 5 basis points - check here

HDFC Bank has increased its marginal cost of funds-based lending rates (MCLR) by 5 basis points for certain tenures. The new rates are effective from October 7, 2024.

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9 out of top 10 companies lose Rs 4.74 lakh crore in market valuation last week

Nine of the top-10 most valued Indian companies lost a combined Rs 4,74,906.18 crore in market valuation last week. Reliance Industries and HDFC Bank saw the biggest declines. Escalating Middle East tensions and foreign fund outflows contributed to the overall market downturn. Notably, Infosys increased its market capitalization amid the widespread losses.

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SBI plans to increase headcount by 10,000 this fiscal

State Bank of India plans to recruit around 10,000 new employees this financial year to enhance its banking and technological capabilities. SBI also aims to open 600 new branches, focusing on emerging areas. Chairman C S Setty emphasized continuous reskilling of staff and transforming SBI into the most valued bank for all stakeholders.

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MTNL defaults on repayment of Rs 326cr, SBI declares it NPA

State Bank of India has classified MTNL's loan accounts as sub-standard non-performing assets due to missed payments since June 30. MTNL owes Rs 326 crore, with Rs 282 crore overdue. SBI demands immediate payment and has warned of legal action while seeking updates on MTNL's monetisation projects, including a land development deal with NBCC.

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