India’s central bank is expected to pay a record dividend to the government, offsetting shortfall in tax revenues due to slow growth and helping meet any emergency spending needs, economists said.Kotak Mahindra Bank Ltd. estimates the Reserve Bank of India to transfer as much as 3.5 trillion rupees ($41.4 billion) to the government while IDFC … Read more
Mumbai: A renewed wave of optimism lifted domestic lenders to record levels as better-than-expected March quarter results at top banks buttressed their investment case, already in focus of late on account of the preference for sectors benefiting from local prospects amid lingering uncertainty over trade tariffs. Expectations of more interest rate cuts, with the Reserve … Read more
“The thing is that, see, in the last five years our loan book has grown from 1,04,000 crores to about 2.4 lakh crores, five years, a little more than 2x. Now, we think that we should, in a stable manner, grow at about 20 odd percent because remember, we are not a large bank, like … Read more
Over the last few months, there has been a distinct shift in the focus of monetary policy towards growth as inflation pressures have subsided. From December 2024 onwards RBI has focused on infusing durable liquidity to make conditions conducive for transmission and credit off-take. Durable liquidity infusion implemented and announced is estimated at INR6.2tn via … Read more
The Reserve Bank of India’s (RBI) foreign exchange reserves rose by $15 billion in the week ended March 7 to $653.9 billion. These are the sharpest single-week gains in over two years when reserves had risen by $14.7 billion in the week ended November 11, 2022, RBI data showed. Economists said the key reasons behind … Read more
Club Vistara co-branded credit cardholders will soon lose key benefits as IDFC First Bank and SBICards have announced major changes starting the next financial year. IDFC First has confirmed that annual benefits, including milestone ticket vouchers, will be discontinued from March 31. Meanwhile, SBICards will also revise its Club Vistara SBI and Club Vistara SBI … Read more
Kolkata: IDFC First Bank on Saturday reported a 53% year-on-year fall in net profit for the third quarter, on account of higher provisions to cover stressed loans. The net profit was Rs 339 crore for the quarter against Rs 716 crore in the year ago period. The bank attributed the fall in profit to the … Read more
Private lender IDFC First Bank on Saturday, January 25 announced its quarterly results for the period ended December 2024, wherein the bank’s net profit de-grew by 15% YoY while its net interest income (NII) surged by 14% YoY to Rs 4,902 crore. The bank’s PAT was reported at Rs 339 crore for Q3FY25 versus Rs … Read more
“When we look at their growth and add it up, I believe consumer demand is still growing. Consumption patterns are shifting—some categories are mature, while others are emerging. This growth is fueled by aspirational India, and as investors, we need to identify those emerging categories and opportunities,” says Nilesh Shah, Envision Capital. ET Now: It … Read more
IDFC First Bank reported a 73% drop in its September quarter standalone net profit at Rs 201 crore versus Rs 751 crore reported by it in the year ago period. However, the Net Interest Income (NII) grew 21% to Rs 4,788 crore in Q2FY25 versus Rs 3,950 crore in the year ago period. The earnings … Read more