A Complete Banking Guide... Bank of Baroda, Allahabad Bank, Andhra Bank, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Dena Bank, ICICI Bank, IDBI Bank Limited, Indian Bank, Indian Overseas Bank,, Oriental Bank of Commerce, Punjab & Sind Bank, Punjab National Bank, State Bank of India, UCO Bank, UTI Bank Ltd., Union Bank of India, United Bank Of India, Vijaya Bank, Yes Bank, Mutual Funds, Income Tax
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Kotak Mahindra Bank reported a 5% increase in standalone profit for Q2 ended September 2024, with a total profit of Rs 3,344 crore. The bank's total income rose to Rs 15,900 crore, with NII growing by 11%, while gross NPAs reduced to 1.49%. Consolidated net profit grew by 13% to Rs 5,044 crore.
3:10 PM
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HDFC Bank Ltd., India's largest private sector lender, recorded a 5% increase in net profit for the quarter ending September 30, 2021, reaching Rs 16,821 crore. Net interest income grew by 10% to Rs 30,114 crore. However, the bank's asset quality slightly deteriorated with gross NPA rising to 1.36%.
9:11 PM
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Shaktikanta Das, Governor of India's central bank, stated that cutting interest rates now would be risky. He indicated no urgency to follow global policymakers in easing rates. Though inflation is expected to moderate, Das emphasized the need for vigilance. The Reserve Bank of India aims to ensure inflation settles around its 4% target before considering a rate cut.
7:10 PM
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India's foreign exchange reserves fell for the second consecutive week, down by $10.746 billion to $690.43 billion as of October 11. The decline is mainly attributed to a reduction in foreign currency assets, gold reserves, and Special Drawing Rights, as reported by the Reserve Bank of India.
12:10 PM
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World Bank President Ajay Banga commended India's robust growth, highlighting its domestic market-driven momentum despite global challenges. He emphasized improving life quality aspects like air and water. Managing Director Anna Bjerde noted efforts to transform growth into job creation, enhance urban livability, and increase female workforce participation.
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