Bajaj Finance-RBI: The Reserve Bank of India has lifted the restrictions it had imposed on the sanction and disbursal of new loans on Bajaj Finance’s ‘eCOM’ and online/digital Insta EMI card segments. On November 15, 2023, the RBI ordered Bajaj Finance to stop sanction and disbursal of loans under its two lending products ‘eCOM’ and … Read more
On a sequential basis, HDFC Bank, ICICI Bank, and Axis Bank reported a faster growth in deposits for the March quarter compared with the credit growth while IndusInd Bank and Yes Bank showed marginally lower growth in deposits than advances. Synopsis While these lenders were able to increase deposits at a faster clip during the … Read more
With the fourth quarter earnings underway, as many as 211 companies will announce their quarterly results this week with some major names in the mix. Investors will be particularly watching out for some major earnings of Kotak Mahindra Bank, DMart, Ultratech Cement, Indian Oil, Adani Energy, Adani Power, Ambuja Cements, Adani Wilmar, Adani Enterprises, Coal … Read more
Nifty ended April derivative series higher by 1.1% in which market-wide rollovers were marginally higher as compared to the previous month and stood at 93.2% vs 92.9% last expiry. Thursday’s session saw Kotak Mahindra Bank shares ending 11% lower at Rs 1,643 on NSE while Hitachi Energy India shares ended nearly 14% up at Rs … Read more
The Reserve Bank of India (RBI) on Wednesday restricted Kotak Mahindra Bank from onboarding new customers through online and mobile banking channels. It also directed the bank to stop issuing new credit cards. The bank was under scanner after the central bank conducted an examination of its IT systems in the last two years. The … Read more
The Reserve Bank of India (RBI) has taken a stringent stance against Kotak Mahindra Bank, barring it from onboarding new customers through its online and mobile channels and issuing fresh credit cards. The RBI’s directive stems from underlying concerns regarding Kotak Mahindra Bank’s IT infrastructure and risk management practices. Despite repeated advisories from the regulator, … Read more
In the financial landscape of India, regulatory oversight plays a crucial role in maintaining stability and safeguarding consumer interests. Recent moves by the Reserve Bank of India (RBI), particularly targeting prominent financial institutions like Paytm Payments Bank, IIFL Finance, and now Kotak Mahindra Bank, underscore the focus of the regulator on transparency and compliance across … Read more
Mumbai: Kotak Mahindra Bank founder Uday Kotak has warned about interest rates staying elevated for a longer period of time due to a higher-than-expected US inflation and firm oil prices. Kotak said US inflation may dent hopes of interest rate cuts by the Federal Reserve and keep interest rates “higher for longer” even in countries … Read more
Axis Bank credit card users were recently affected by unauthorized international transactions despite deactivating international usage. Cardholders reported unauthorised transactions and receiving OTPs for transactions they didn’t make, including international charges on their Axis Bank credit cards. Many took to social media platforms to report the issue. So, what should you do if an unauthorized … Read more
Brokerage Nomura maintained a neutral rating on HDFC Bank, Kotak Mahindra Bank has a buy rating on InterGlobe Aviation, Jefferies recommended a buy on Piramal Pharma and UBS maintained a buy on Infosys. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Nomura on HDFC Bank: Neutral| Target … Read more