FIRST
Interest rate up to 7.5%: 5-year post office time deposit (POTD) is offering higher rates than these top 10 banks
Under the POTD scheme, senior citizens are not offered any higher rates than regular citizens, unlike many banks. Interest is paid annually but calculated quarterly.
Central spending gives a boost to liquidity, brings overnight rate 10 bps below repo
Following recent elections, increased government spending has injected liquidity into India's banking system, resulting in lower overnight borrowing rates, Treasury Bill yields, and short-term financing costs for Indian companies. Despite these developments, the Reserve Bank of India (RBI) appears cautious about reducing policy rates. The overnight weighted average call rate (WACR), which hovered above the RBI's repo rate of 6.50% in May and June, has averaged 6.39% in July, indicating a surplus liquidity situation.
Melania Trump will attend the Republican convention in a rare political appearance
Former first lady Melania Trump is expected to attend the Republican National Convention next week in Milwaukee. Her level of involvement in the event remains unclear. Melania has been largely absent from campaign events as her husband, former President Donald Trump, seeks reelection.
VIEW: Cues on the critical need to support India’s solar and renewable energy industry
NDA 3.0 aims to revitalize India’s economy with a focus on clean energy in the 2024-25 budget. Priorities include policy continuity, fiscal incentives, and significant investments in renewable technologies, particularly solar. By allocating 5-10% of GDP to clean energy, India can foster economic growth, employment, and global leadership in renewable energy.
Savings account interest rate up to 7.25%: Post office savings account vs SBI, HDFC Bank, ICICI Bank, PNB, Union Bank, IDFC FIRST Bank
Savings account interest rates: Compare the interest rates of savings accounts at Post Office, SBI, HDFC Bank, ICICI Bank, PNB, Union Bank, and IDFC FIRST Bank to find the highest rate.
Release four engines to lessor: NCLT to Go First resolution professional
The NCLT has directed Go First's resolution professional to return four engines to lessor Engine Lease Finance BV, citing a Delhi High Court ruling. This decision adds to the challenges facing the grounded airline's insolvency resolution process. The tribunal has adjourned the matter to August 9 to allow time for further instructions from lessors' counsel. A revised resolution plan has been submitted, reducing the offered amount to ₹195 crore. The DGCA's deregistration of 54 planes earlier this year has complicated the situation for Go First.
NCLT directs Go First to release four aircraft engines of ELF
The NCLT directed Go First to release four aircraft engines to Engine Lease Finance (ELF) BV, with the resolution professional already initiating the return process for one engine. ELF, based in Shannon, Ireland, is a prominent engine financing and leasing company. The tribunal scheduled further hearings for August 9 to consider objections from other engine lessors.
YES Bank shares jump over 6%. 2 reasons behind the buying momentum
YES Bank Share Price: YES Bank jumps 6.5% to Rs 26.60 after Moody’s positive upgrade and reports of First Abu Dhabi Bank likely interest in its 51% stake.
YES Bank’s $5 billion stake said to attract lenders from the Middle East, Japan
First Abu Dhabi Bank is considering bid for Yes Bank stake. The stake sale has also drawn preliminary interest from Japan, including Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc., although it remains unclear how strong their appetite for a deal is and whether they will proceed, the people said.
Yes Bank stake not being evaluated by us, says First Abu Dhabi Bank
First Abu Dhabi Bank clarified it is not considering a stake in Yes Bank, contrary to media reports. Bloomberg had reported potential suitors, including Japanese firms, evaluating a $5 billion stake. Following the news, Yes Bank shares rose 8.5%. Additionally, Moody's upgraded Yes Bank’s outlook to ‘positive,’ reflecting expected profitability improvements.
Poll finds Joe Biden having suffered due to the debate; Harris and a former First Lady surge past Trump in the same survey
A survey commissioned by the Democrats has found that though Joe Biden has narrowed down his deficit in terms of popularity as compared to Trump, he has heavily suffered after the first US Presidential debate. The support still enjoyed by a former Secretary of State has emerged as a surprise to many.
Modi in Austria: First Indian PM to visit in 41 years after Indira Gandhi in 1983; Details on why the visit happened
Modi in Austria: Upon landing in Vienna, PM Modi took to X to share his anticipation for the scheduled engagements, which include high-level talks with Austrian Chancellor Karl Nehammer, interactions with the Indian community, and various other programs.
Nifty Bank bounces back, reclaims 52,500 levels; buy on dips, suggest experts
The Nifty Bank rose nearly 100 points to close at 52,517 while the Nifty50 hit fresh record highs above 24,400 levels. HDFC Bank, SBI, PNB and ICICI Bank closed with gains while selling was seen in AU Small Finance Bank, Kotak Bank, IDFC First Bank and Bandhan Bank.
Nifty Bank closes lower; strong support placed at 52,000: Experts
Kotak Mahindra Bank, ICICI Bank, IndusInd Bank and Federal Bank closed in the green while some selling was seen in PNB, IDFC First Bank, Bank of Baroda and AU Small Finance Bank.
Stocks in news: HDFC Bank, IDFC First Bank, IDBI Bank, Dr Reddy's, Lloyds Metals
HDFC Bank advances rose 53% to Rs 24.87 lakh crore. LIC boosted IDFC First Bank's stake to 2.68%. Dr Reddy's, Sun Pharma recalled items in the US. PNB's global business grew 10%. Raymond Realty, Poonawalla Fincorp, IDBI, Ujjivan SFB, Lloyds Metals, RBL Bank's deposits rose 18%, and Mahindra Lifespace will redevelop Mumbai societies.
LIC raises stake in IDFC First Bank by 0.2% to 2.68% via private placement
IDFC First Bank has underperformed in the market over the past year, gaining only 3% and declining 8% year-to-date. The stock is currently trading 24% below its 52-week high of Rs 100.74.
Sebi clears FirstCry and Unicommerce IPO
FirstCry, an omnichannel baby products retailer, and ecommerce enterprise software developer Unicommerce have received approval from Sebi for their IPOs. Pune-based FirstCry had refiled its draft papers with Sebi following queries on its KPIs, while Unicommerce filed for the IPO in January.
Delhi Police registers first case under new penal code Bharatiya Nyaya Sanhita against street vendor
Bharatiya Nagrik Suraksha Sanhita has 531 sections (in place of 484 sections of CrPC). A total of 177 provisions have been changed in the Sanhita and nine new sections as well as 39 new sub-sections have been added to it. The act has added 44 new provisions and clarifications. Timelines have been added to 35 sections and audio-video provision has been added at 35 places. A total of 14 sections have been repealed and removed in the Sanhita.
First Presidential Debate Verdict: Did Trump's performance earn him a 1-0 lead over Biden?
Following the debate, a CNN poll revealed that 67% of viewers believed Trump emerged as the winner, while 33% favoured Biden. This marked a significant shift from CNN's post-2020 debate poll, where 53% viewed Biden as the winner compared to 39% for Trump. Viewers expressed concerns over Biden's leadership abilities, underscoring doubts about his performance.
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