ETBFSI Research
ETBFSI Research | ET BFSI-
Bank credit offtake remains robust and broadbased in May, personal loans cool down
Gross bank credit offtake growth rises 70 bps to 16.1% in May on the back of loan demand from services sector.
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Why did Zomato exit NBFC, payments space?
The withdrawal signals a cautious approach by Zomato, prioritising sustainability and core business strengths over diversification into heavily regulated financial services.
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ITR filing: Banks report credit card and forex spends separately in AIS
This enhanced reporting is particularly relevant for individuals who travel abroad, make purchases from foreign websites, send remittances abroad, or buy foreign currency.
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What can salaried taxpayers expect from Union Budget 2024?
There is hope that the upcoming Budget will introduce significant upgrades to the old tax regime slab structure, potentially raising the income tax exemption limit to Rs 5 lakh, aligning it with the new tax regime.
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HDFC Bank shares may gain amid potential MSCI Index weight change
The MSCI EM Index rebalancing in August, with the official announcement on August 13, will likely drive preemptive price action.
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Centre to come up with new accounting standards for banking and insurance sectors
The Ministry of Corporate Affairs (MCA) is collaborating with ICAI to promote the aggregation of accounting and auditing firms, aiming to elevate them to global stature.
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Budget 2024: Which sectors are likely to be in the limelight?
The government is expected to focus on infrastructure, defence, renewable energy, agriculture, and railways in the upcoming Budget, according to experts.
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Hindenburg was never a client or investor in K-India Fund, says Kotak Mahindra Bank
The Fund was never aware that Hindenburg was a partner of any of its investors, said the bank's spokesperson.
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Credit, deposit growth remain robust despite marginal sequential dip
Over the last 12 months, credit offtake expanded by Rs 26.9 lakh crore to reach Rs 167.1 lakh crore as of June 14, 2024.
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India's UPI to be linked with four payment systems in Asia under BIS' Project Nexus
Under the project, rather than an IPS operator building custom connections for every new country to which it connects, the operator only needs to make one connection to Nexus.
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Why central banks are moving gold to home countries and buying more
The primary drivers of this trend are the need to hedge against inflation and protect assets from geopolitical risks, such as those posed by the Ukraine conflict and subsequent sanctions on Russia, according to experts.
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More banks to line up infrastructure bond issues after SBI, ICICI Bank fundraises
HDFC Bank is preparing to raise up to Rs 15,000 crore, and Canara Bank is expected to follow with its own bond issuance soon.
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RBI says pandemic period household savings declining, need close monitoring
The sharp rise in household financial savings during the pandemic has been drawn down subsequently, as in many other economies, and shifted towards physical assets, RBI's Financial Stability Report said.
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Heatwaves may keep food inflation elevated and overshoot RBI's inflation projection for H1 of FY25
The major impact of the ongoing heatwave will be felt on inflation amidst a sharp increase in prices of staple vegetables such as tomato, onion and potato.
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Climate moves up in domestic high risk category, says RBI's Financial Stability Report
According to the systemic risk survey of the central bank, the main near-term risks identified by respondents were geopolitical risks, tightening of global financial conditions, and capital outflows.
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HDFC Bank sets new terms for credit card holders from August 1
The revisions cover a range of transaction types and fees, and charges certain transactions over specified limits.
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JP Morgan to include India bonds in EM index from today, pave way for $25-30 billion inflows
This move is anticipated to elevate EM Asia’s weight in the GBI-EM GD index significantly, potentially accounting for nearly half of the total index weight by the first quarter of 2025.
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ICICI Bank hits $100 billion market cap, what's driving the performance?
The bank is well-positioned to deliver superior performance characterised by healthy loan growth, strong asset quality, and industry-leading return ratios. While margins are expected to remain range-bound in the near term, operating leverage is emerging as a key lever to support earnings growth.
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Union Budget preview: How the govt may spend Rs 2.11 lakh crore RBI dividend windfall
A large part of these additional receipts would be spent under various heads, while a small portion could be used to reduce the fiscal deficit.
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Credit card industry adds 0.76 million cards in May 2024
HDFC Bank added the highest number of new cards (289k), followed by Axis Bank (117k), SBI Card (114k), ICICI Bank (77k), IndusInd Bank (30k).
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