As global economies grapple with exponential growth and development, India’s banking sector has seen a significant surge in credit operations. The destination of these funds, amounting to trillions of rupees, has now become a topic of interest and study. Where is the enormous volume of bank credits, specifically personal loans, absorbed in the country’s financial … Read more
In its endeavour to improve the taxpayer experience on the e-filing portal, the income tax department introduced Tax Information Network (TIN 2.0) last year. The entire tax payment has shifted from the erstwhile TIN-NSDL to TIN 2.0 with effect from April 1, 2023. “The new e-Pay tax payment platform TIN 2.0 is an official … Read more
Mumbai: With the removal of long-term tax benefits on debt mutual funds, affluent investors are turning to alternative private credit investments to enhance debt portfolio returns. On the other hand, the market is also seeing many new entrants, such as Carlyle Group and Nippon Life, which are seeking to leverage the credit demand-supply gap. Market-linked … Read more
India’s second largest private lender ICICI Bank has given more than 21% returns over a 12 month period and has outperformed not just BSE Sensex and Nifty50 but also banking indices Nifty Bank (18.4%) and BSE Bankex (16.5%). With robust Q4 earnings coupled with technical triggers, the stock is ready for the next leg of … Read more
NEW DELHI: India’s second largest private sector lender ICICI Bank shares rallied over 2.5% today to Rs 906.75 after analysts said its Q4 earnings were flawless for the thirteenth quarter in a row. The bank reported a solid 30% YoY profit growth on the back of 35% YoY operating profit growth. In the March quarter, … Read more
Earnings season gets into full swing, while the first snapshot of business activity in April could provide a sense of how much pain the turmoil in the banking sector has inflicted on the world economy. China and Britain release key economic data and officials from the Group of Seven nations talk climate goals. Here’s a … Read more
“We also believe sectors like auto, industrials, and consumption could benefit from margin expansion over the next few quarters given the slump in crude, metals, and freight rates albeit volume growth could be tepid,” says Kaizad Hozdar – Investment Advisor, TrustPlutus Wealth. In an interview with ETMarkets, Hozdar said: “We continue to keep faith in … Read more
Most global central banks may be either close to a peak or already done with interest-rate hiking, auguring a hiatus before possible monetary loosening comes into view. With the first signs of dents in economic growth now visible, and fallout from financial-market tensions lingering, any pause by the Federal Reserve after at least one more … Read more
Global macroeconomic and financial sector headwinds are set to take a deep toll on the domestic IT companies’ revenue growth in FY24, a report said on Friday. The Rs 10 lakh crore sector is likely to witness revenue growth plunging by up to 9 percentage points to 10-12 per cent in FY24 as against the … Read more
DUBAI: The chairman of top Credit Suisse shareholder Saudi National Bank (SNB) has stepped down less than two weeks after making comments blamed for contributing to the Swiss lender’s demise. Ammar Al Khudairy said on March 15 that the biggest Saudi bank by assets could not buy more shares in Credit Suisse on regulatory grounds. … Read more