Urban Co-op banks need to strengthen governance quality
The Reserve Bank of India (RBI) has raised concerns over high levels of gross non-performing assets (NPAs) in urban cooperative banks, despite improved profitability indicators. The RBI has called for further strengthening of governance standards and risk management practices, and for co-operative banks to adopt global best practices of supervision.
Sensex@72K: Bulls turn up the heat in December
The Sensex gained 0.98%, or 701.63 points, to close at 72,038.43 after touching an all-time high of 72,119.85. The Nifty advanced 1%, or 213.40 points, to close at 21,654.75, off the record high of 21,675.75. The Nifty Bank index rose 1.2% to a record closing level of 48,282.20.
India Inc needs to think big and bold, push investments: Vivek Joshi, Ministry of Finance
Highlighting the government’s focus on fostering capital expenditure and new investment in the economy, Joshi called for a pull in “one direction” from the three key players in capital expenditure and investment – private sector entrepreneurs, bankers, and the government.
Why newbie F&O traders are making losses
More than half of the survey participants of traders surveyed claimed they buy more to average out their losses in trades, said Sharekhan, terming the findings of its ‘Serious About The Markets’ pan-India study a ‘worrying’ trend.
Sebi extends deadline to add nominees in demat and MF accounts
Markets regulator Sebi on Wednesday extended the deadline to June 30 next year for demat and mutual fund account holders to provide a nomination. Earlier, the deadline to nominate a beneficiary or opt out of it by submitting a declaration form was December 31, 2023.
RBI approves appointment of CS Rajan as Kotak Bank Chairman
The Reserve Bank of India has approved the appointment of CS Rajan as the part-time Chairman of Kotak Mahindra Bank for a two-year term starting January 1, 2024. Rajan, an IAS officer of the 1978 batch, currently serves as an Independent Director on the bank’s board and retired as the Chief Secretary of the Government […]
Basmati prices cool at home as a restive Red Sea hurts exports
Leading shipping lines’ decision to avoid the Suez Canal route amid Houthi attacks has also impacted sunflower oil imports from Russia and Ukraine. Sunflower oil prices in the local market are likely to go up by 3-4% as international prices have increased by $30 per tonne in the last one week to $940 per tonne, […]