Russia’s state-owned development bank VEB and the Reserve Bank of India (RBI) have likely finalized an alternative transaction platform to facilitate bilateral trade after Western sanctions firewalled Moscow’s access to the globally used Swift banking platform, two people familiar with the matter told ET. The new payments system will likely be installed at the headquarters … Read more
35,000 is a support for the Bank Nifty, and possibly next week we could see the Bank Nifty heading towards at least 36000-36500 on the index, said Kunal Bothra, kunalbothra.co.in. Edited excerpts: For most part of the week we were hovering in the green territory. It was only over the last couple of trading sessions … Read more
UPL, and are three stocks on which independent market analyst Kunal Bothra is bullish on for this week. Edited excerpts: India VIX has cooled off and in fact has slipped below the 16 mark. How do you see the volatility in the near term and at what levels could we make that decisive move towards … Read more
The Supreme Court on Friday warned that the flat buyers of Amrapali Group who are not clearing their dues as per the payment plan should not be in any kind of delusion as their units can be cancelled and will be considered as unsold inventory. A special bench of Justice U U Lalit and Ajay … Read more
(BoB) swung back to a profit in the quarter ended June 2021 led by a growth in retail loans and a strong growth in other income. The bank reported a net profit of Rs 1,209 crore from a loss of Rs 864 crore a year ago on the back of a 16% growth in net … Read more
MUMBAI: today reported a net loss of Rs 1,047 crore due to a sharp rise in provisions for bad loans in the quarter and deterioration in asset quality on a reported basis. Analysts had expected the state-owned bank to report a net profit of Rs 1,042.6 crore for the reported quarter. The bank’s provisions for … Read more
MUMBAI: Monday’s trading session wasn’t for the faint hearted – regardless of asset class. Stocks were roiled for much of the day while bonds – of the perpetual variety – were pummelled, stretching for their investors a nerve-jangling ride that began last week after a regulatory fiat on valuing these debt instruments. On a day … Read more
In the past two days, sealed bond deals have indicated that investors now expect higher rates than the existing secondary market rates. Synopsis Bank of Baroda, Rural Electrification Corporation, and Indian Bank are now paying about 25-45 basis points higher for three-to-five-year money compared to their own secondary market rates. MUMBAI: Interest rates are generally … Read more
NEW DELHI: State-owned Bank of Baroda on Monday reported a standalone net loss of Rs 864 crore during the quarter ended June of the current fiscal year, due to higher provisions and contingencies. The bank had posted a net profit of Rs 710 crore in the same quarter a year ago. “On account of provisioning … Read more