Fusion Finance to bet on MSMEs, expects better show in Q3
The lender’s assets under management (AUM) contracted 37% year-on-year to ₹7,688 crore at the end of June, from ₹12,193 crore a year ago, after it slowed loan disbursals to the overleveraged and defaulting bottom-of-the-pyramid borrowers.
SBI halts Nayara transactions over US tariffs, sanctions risk
State Bank of India has ceased processing trade and foreign currency transactions for Nayara Energy due to potential US sanctions following recent tariff increases. This decision aims to prevent SBI from facing US and European Union restrictions. The move follows EU sanctions restricting Russian fuel imports and a price cap on Russian crude, impacting banks […]
LIC’s goal is ‘Insurance for All’ by 2047, policy numbers should grow from Q2: R Doraiswamy, MD & CEO
LIC’s new chief aims to boost profitability through diversified products, particularly non-PAR plans, targeting 40% of APE. R Doraiswamy plans to increase bancassurance sales beyond 10% and strategically invest in debt and equity markets. LIC is exploring health insurance ventures and addressing regulatory challenges regarding its stake in IDBI Bank.
Bond yields climb to steepest since April at 6.44%
Indian bond yields experienced a notable increase, reaching their highest levels since early April, driven by market anticipation of a prolonged pause in the current rate-easing cycle. Institutional caution ahead of the upcoming inflation data further contributed to the firm yields. The benchmark 10-year paper’s yields rose by four bps to 6.44%, with significant selling […]
What’s driving the surge in IPOs among jewellery firms?
At least 10 jewellery retail firms are preparing to launch IPOs in the next 3-6 months, driven by lender constraints, high valuations, and a strong IPO market. PNGS Reva Diamond Jewellery, Lalithaa Jewellery Mart, and Priority Jewels have already filed IPO documents with Sebi.
PG Electroplast plummets 35% in 5 days amid weak revenue guidance
PG Electroplast shares faced a sharp decline. This electronic manufacturing service provider witnessed a significant drop in Mumbai trading. Weaker revenue guidance and first-quarter earnings impacted the stock. Institutional investors like the Government of Singapore and Motilal Oswal Mutual Fund are affected. Brokerages like Nuvama and JM Financial reduced target prices. The company’s net profit […]
Banks free to set minimum balance, says RBI Governor Sanjay Malhotra after ICICI Bank’s latest move
The Reserve Bank of India has clarified that individual banks have the autonomy to decide on the minimum average balance (MAB) requirements for savings accounts. While some private banks like ICICI Bank are increasing MAB, several state-owned banks, including SBI, PNB, Canara Bank, and Indian Bank, are eliminating penalties for not maintaining minimum balances to […]