In a recent discussion with ET Now, Mayuresh Joshi, Head Equity, Marketsmith India shed light on his views across banking, infrastructure, and paint sectors, emphasizing selective investment strategies amid evolving market dynamics. When asked about the ongoing debate around private banks versus public sector banks (PSBs) and the government’s recent disinvestment in Bank of Maharashtra, … Read more
The government on Tuesday decided to exercise green shoe option with clear intention to divest 6 per cent stake in Bank of Maharashtra (BoM) through offer-for-sale following overwhelming response from investors on the first day of subscription. The OFS of BoM opened for subscription earlier on Tuesday for non-retail investors at a floor price of … Read more
The Reserve Bank of India’s Monetary Policy Committee (MPC) has announced a 25 bps reduction in repo rates to 6% from 6.25% and has also shifted its stance from ‘neutral’ to accommodative. With this, it is expected that the home loan rates might go down. So far, home loan borrowers are experiencing a positive year … Read more
RBI MPC repo rate: The Reserve Bank of India’s Monetary Policy Committee may go for an interest rate cut on February 7 for the first time in almost five years. During its December meeting, the RBI decided to keep the repo rate steady at 6.5% for the 11th consecutive time due to ongoing inflationary challenges. … Read more
The Indian banking sector continues to demonstrate resilience and adaptability, navigating a dynamic economic environment with steady growth in credit, deposits, and profitability. Despite certain challenges, particularly in the unsecured retail and microfinance institution (MFI) segments, the sector’s overall outlook remains positive, underpinned by strong fundamentals and operational efficiency. Projected credit growth for FY25 is … Read more
Bank of Baroda (Bank), one of India’s leading public sector banks, announced the launch of the National Common Mobility Card (NCMC) RuPay Reloadable Prepaid Card today. Aligned with the “One Nation, One Card” initiative, the Bank of Baroda NCMC RuPay Platinum EMV chip-enabled Contactless Prepaid card is an inter-operable and multi-purpose transport card that can … 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
New Delhi: The government is considering the divestment of 5-10% stake in public sector lenders in which it currently holds over 80% equity. A detailed roadmap is expected to be firmed up soon, said people with knowledge of the matter. Government ownership exceeds 80% in six state-run banks – Bank of India, Indian Overseas Bank, … Read more
91.60 percent gain propelled the state-owned lender to the eighth place in the top 20 Indian banks by market capitalization as of September 30, from rank 14 three months ago. Five other public sector banks rose in the market cap rankings over the previous quarter. Central Bank of India‘s market cap grew 76.59 per cent … Read more
In a bid to enable regional rural banks (RRBs) to raise resources by listing on stock exchanges, the government has issued draft guidelines that set certain basic criteria, including net worth of at least Rs 300 crore during the previous three years. They should also have capital adequacy above the regulatory minimum level of 9 … Read more