Healthy loan growth, fall in provisions spruce up SBI Q3
Unlike a year ago, SBI did not have to make a ₹7,100-crore provision for employee pension and wages, boosting profit growth at the country’s most-valued government-owned company.
BoE cuts rates, warns of inflation & trade war risks
Though he said that inflation was also likely to rise through most of this year, policymakers still expected the inflation rate to return to the 2% target in the next few years.
Rupee weakens to fresh low of 87.577 against US dollar
The Indian rupee weakened to an all-time low of 87.582 per dollar on persistent dollar demand and large-scale sales of local stocks by overseas investors. The currency faced additional pressure ahead of the monetary policy decision, with the Reserve Bank of India’s intervention only offering limited relief.
Swiggy slips below IPO price as losses widen
The company’s consolidated losses in the December quarter widened to ₹799 crore compared to ₹574 crore a year ago, and revenue from operations was at ₹3,993 crore, a 31% yearly increase.
Banks look to shift focus to MCLR-linked loans ahead of rate cuts to protect margins
Amid expectations of a softer rate cycle, several banks plan to raise the share of MCLR-linked loans to protect net interest margins from falling sharply when the RBI cuts the repo rate. This strategy aims to balance the impact while retaining customers.
Aadhar Housing Finance Q3 profit rises 17% on steady biz growth
The lender’s total income stood 19% higher at ₹785 crore, against ₹659 crore. Its assets under management grew 21% year-on-year to ₹23,976 crore at the end of December with the total number of loan accounts rising to 286,000.
Financial Services continue to bear the brunt of foreign selling in January
Financial Services continued to endure the worst of the unrelenting foreign selling with these investors pulling ₹12,745 crore from the sector in this period, after selling a similar amount in the first half of the month, taking the total selling in January to almost ₹25,000. In 2024, foreign investors offloaded financial shares worth ₹58,280 crore.