With bulls dancing, many more join Street party
For instance, five stocks, NHPC, Indian Renewable, IRFC, Yes Bank, and HDFC Bank, collectively added 75 lakh investors during the quarter ending March 2024. NHPC led the pack with a substantial influx of 23 lakh new investors.
RBI urges banks for caution on unauthorised forex transactions
The central bank said in a notification on Wednesday that it has come across instances of unauthorised entities offering foreign exchange trading facilities to individuals with promises of disproportionate and exorbitant returns.
FSIB Recommends Rana Ashutosh for State Bank’s MD Post
Rana Ashutosh Kumar Singh recommended by FSIB for SBI MD post, pending Appointments Committee of the Cabinet approval under PM Modi’s leadership. FSIB, led by Bhanu Pratap Sharma, conducted the selection process. Singh currently serves as SBI’s deputy MD.
RBI bars Kotak Bank from adding customers digitally
The Reserve Bank of India (RBI) has imposed strict restrictions on Kotak Mahindra Bank, a third-most valued private bank in India, for failing to fix its IT systems over the past two years. The bank was asked to stop functions cited “with immediate effect” and assured customers that there would be no interruption to services. […]
Japan finds another rising sun, steps up India bets
With the Indian economy maintaining high growth, Japanese corporations are showing more interest regarding investment in India, according to Nomura. Manufacturing sectors have been the main driver of Japanese direct investment in India to date, with transport equipment accounting for 35.1% of direct investment in the country, machinery equipment for 10.5%, and chemicals and pharmaceutical […]
Fall in call market volume raises concerns over pricing of MIBOR, other instruments
The MIBOR, in turn, is used as a benchmark or reference for derivative products such as interest rate swaps, forward rate agreements and term deposits and certain types of debt instruments issued by firms to raise money.
Higher margins and non-core income lift Axis Bank Q4 profit
The bank had reported a loss of ₹5,728 crore in the corresponding period a year ago on goodwill impairment following Citibank’s portfolio acquisition. The bank had reported a net profit of ₹6,071 crore in October-December 2023 period, translating into a 17% increase in profit on a sequential basis.