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
Mumbai: A narrower-than-expected trade deficit and higher services exports in January have prompted economists to scale down the current account deficit (CAD) estimates for FY24. Capital inflows through both foreign direct investment (FDI) and portfolio flows are expected to improve during the rest of the fiscal. But potentially higher foreign exchange inflows may not mean … Read more
Half a dozen banks reported higher quarterly net profit Saturday, as growth in retail loans, increased non-interest income and a fall in provisions more than offset the impact of increasing cost of funds that weighed on their net interest margins (NIMs). ICICI Bank, the largest of the six lenders, reported a 24% rise in net … Read more
Private sector lender Kotak Mahindra Bank on Saturday said that its board has approved the raising of funds worth Rs 10,000 crore via the NCD route. “This is to inform you that the Board of Directors of Kotak Mahindra Bank have, at their meeting held today, inter alia, approved a proposal to enable the Board … Read more
Various widely tracked companies like Reliance Industries, Jio Financial Services, HDFC Bank, Asian Paints, LTIMindtree, IndusInd Bank, Polycab India, HUL, UltraTech Cement, ICICI Bank, and Kotak Mahindra Bank will be releasing their December quarter report cards this week. Here’s a list: January 15Jio Financial Services, Angel One, PCBL, Choice, International, Kesoram Industries, Fedbank Financial Services, … Read more
IndusInd Bank on Tuesday launched its UPI-enabled IndusInd Bank Samman RuPay Credit Card, in association with with National Payments Corporation of India (NPCI) especially for government sector employees. The cards have been launched for government sector employees to provide them with a range of exclusive benefits and enhance their overall banking experience. The Samman RuPay … 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 Nifty in a consolidating trajectory after hitting the 20,000-milestone in September, mutual funds are using the fresh inflow of funds to pick stocks from sectors like auto, utilities, consumer and insurance. AMFI data shows that money managers reduced stake in banks, IT, capital goods and metals in October. While the weight of private banks … Read more