Fintech firm Credilio unveiled novio – an app to widen the credit card landscape for over 400 million UPI active customers. novio aims to make financial inclusion and credit card lifestyle accessible for every Indian household, the firm said in an official statement. novio has introduced a guaranteed card concept, allowing users to build their … Read more
The Centre has recently started a port for pensioners in collaboration with Bank of India. The Integrated Pensioners’ Portal of Bank of India combines the pension processing and payment services of five banks into a single window. In a statement, the Department of Pension and Pensioners’ Welfare (DoPPW) said the platform has been launched to … Read more
Mumbai: Overseas Indians sent home a record $29 billion by way of remittances in the December quarter as steadily climbing returns from FCNR (foreign currency – non resident) instruments have made such savings plans more lucrative than bank deposits in the West. To be sure, remittances are a source of permanent flows, unlike repatriable NRI … Read more
Indian market is likely to consolidate on Tuesday tracking mixed global cues. The Nifty future closed positive with gains of 0.32% at 22167 levels on Monday. India VIX moved up by 5.22% from 15.22 to 16.02 levels. Volatility slightly rose but created momentum for the bulls. Positive setup was seen in stocks like GMR Infra, … Read more
The Indian market bounced back on Friday tracking positive global cues. The S&P BSE Sensex rose more than 600 points in morning trade while the Nifty50 reclaimed 21,600-21,650 levels. Sectorally, buying was seen in infra, telecom, public sector and power space. On the weekly options front, the maximum Call OI is placed at 22,000 strikes … Read more
Shares of the state-owned Indian Renewable Energy Development Agency (IREDA) climbed 5% to Rs 125.5 in Wednesday’s trade on BSE after the firm announced a partnership with Indian Overseas Bank (IOB) to co-finance renewable energy projects in India. “Indian Renewable Energy Development Agency and Indian Overseas Bank have joined hands by signing a memorandum of … Read more
Bank of Baroda (Bank), one of India’s leading public sector banks, announced the launch of the National Common Mobility Card (NCMC) RuPay Reloadable Prepaid Card today. Aligned with the “One Nation, One Card” initiative, the Bank of Baroda NCMC RuPay Platinum EMV chip-enabled Contactless Prepaid card is an inter-operable and multi-purpose transport card that can … Read more
Bank fixed deposit (FD) rates: Fixed deposits (FD) have gained popularity, with some banks offering up to 9 per cent interest in different tenures. Some banks, public and private, have raised interest rates on fixed deposits in December. Since May 2022, FD investors have seen an upward interest rate trajectory with some public sector banks … Read more
With consistent earnings normalization, controlled credit costs, and healthy asset quality, earnings for PSBs are expected to grow at a more sustainable pace. We estimate the profitability of the top six PSBs under our coverage to rise to Rs 1.7 trillion by FY26 from Rs 573 billion in FY22 and from collective losses in FY18. … Read more
The Indian economy kept its momentum, growing nearly a percentage point higher than expected at 7.6% in the second quarter, buoyed by the manufacturing and construction sector, with experts suggesting an upside to the full-year number. “Given the higher than forecast outcome for Q2, we are revising our FY2024 growth forecast to 6.2% from 6.0%,” … Read more