Credit card issuances soar to seven-month high in August
Credit card issuances in India reached a seven-month high in August, driven by lenders like HDFC Bank and Axis Bank preparing for increased festive season demand. Nearly 700,000 new cards were issued, bringing the total active cards to 112.3 million.
Maruti Suzuki becomes world’s 8th most valuable carmaker, surpasses Ford, GM and Volkswagen
Maruti Suzuki India has ascended to become the world’s eighth most valuable automaker, surpassing giants like Ford and General Motors. Fuelled by positive investor sentiment following tax reforms and a revamped GST regime, Maruti’s market capitalization has soared to nearly $57.6 billion. The company’s stock has rallied significantly, outperforming the Nifty Auto index, with foreign […]
NBFCs grab a bigger personal loan share amid bank caution
Non-bank lenders are increasing their hold on the personal loan market. Data shows NBFCs’ share in new personal loans has risen significantly. This growth is driven by fintech companies. Meanwhile, banks’ share has decreased. The personal loan market is now over fifteen lakh crore rupees. NBFCs are more flexible, attracting borrowers banks might overlook.
Silver prices soar to record highs in India driven by strong global cues
Silver prices in Delhi soared to a record ₹1.40 lakh per kg, driven by strong global cues. Conversely, gold prices dipped to ₹1,17,370 per 10 grams due to weak retail demand. Futures trading saw silver contracts reach new peaks, while gold also experienced gains, fueled by expectations of Federal Reserve rate cuts.
Keep balance sheet strong to fund infra, innovation: FM Sitharaman tells banks
Finance Minister Nirmala Sitharaman urged financial institutions to maintain strong balance sheets to fund infrastructure, industry, and MSMEs, while partnering with NBFCs to reach underserved sectors. She highlighted the increasing demand for credit and innovative financial products as India’s economy grows.