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    MAY 1 BANK HOLIDAY

    Saturday bank holiday: Are banks open or closed this Saturday, July 13?

    Saturday bank holiday: In India, private and PSU will be closed every month on the second and fourth Saturdays, in addition to Sundays and national and regional holidays, in accordance with the rules of the Reserve Bank of India.

    Banks may not do well in Q1 and even Q2; be selective in consumer bucket: Dipan Mehta

    The banking sector may see disappointing earnings due to challenges in net interest margins and rising provisions, says Dipan Mehta, Director, Elixir Equities. FMCG and traditional consumption stocks are under pressure, while airline companies like IndiGo show positive long-term prospects. Electric two-wheelers, particularly from Ola Electric, are expected to disrupt the industry.

    Q1 result season begins: 30 companies may report over 100% growth in profit

    Nifty may report 4% Q1 earnings growth driven by BFSI, auto, metals, healthcare, and real estate, with Trent and Zomato showing significant consumption sector growth. Pharmaceuticals Glenmark Pharma and Laurus Labs have high growth, private and PSU banks lower. Motilal Oswal and Kotak predict 30 companies may report over 100% profit growth.

    Margin squeeze to dent banks' Q1 profits, loan growth may offer silver lining

    Banks' Q1 profits face headwinds: Emkay Global predicts a sluggish 4% growth in pre-provisioning operating profits for the June quarter. This slowdown, affecting private lenders most, is attributed to shrinking margins and rising operational costs.

    Türkiye marks a 34% surge in Indian visitors from January to May 2024

    In early 2024, Türkiye saw a 34% surge in Indian tourists, reaching 1,26,000 visitors. Top destinations like Istanbul, Cappadocia, Antalya, and Bodrum were popular. Efforts included a six-city TAAI roadshow and an OTOAI fam tour. Tourists also visited Pamukkale, İzmir, and Alaçatı, attracted by their natural beauty and luxurious celebrations.

    Are banks open or closed today?

    Saturday bank holiday 2024: As per the regulations, all banks will be closed on Sundays, second and fourth Saturdays, and national and regional holidays. ATMs will be available throughout these holidays, and internet banking services will remain operational.

    The Economic Times
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