PRIORITY SECTOR CREDIT
Union Budget 2024: Sectors for investors - What can the Budget hold for different sectors
India Budget Announcements: Finance Minister Nirmala Sitharaman is set to present the full Union budget, with investors eager for insights on infrastructure, manufacturing, fiscal discipline, job creation, and social spending. Expectations include a focus on sustainable and climate-resilient infrastructure, increasing local content requirements for manufacturing, and bridging credit gaps for MSMEs. Defense sector reforms are also anticipated.
Retail asset securitisation volumes at Rs 48,000 crore in June quarter: CARE Ratings
Retail asset securitisation market shrinks by 13% to Rs 48,000 crore in June quarter. Originators flush with liquidity cited as primary reason. Increase in investor demand for PSL assets noted. MBS transactions lead DA volumes. Prediction of strong market performance in FY25.
Budget 2024: Travel agents body demands industry status, GST rate rationalization for tourism sector
Union Budget 2024: On Monday, the Travel Agents Association of India (TAAI) called for several measures to support the domestic travel and tourism sector. These include streamlined visa requirements, promoting visa-free entry for tourists, rationalising GST rates and GST credit, and granting industry status to all stakeholders. The sector contributes 5.8 percent to India's GDP and has an ambitious target of reaching USD 1 trillion by 2047.
Pakistan's public sector enterprises suffocate under mounting PKR 1.7 trillion debt
Despite a substantial loan from the Asian Development Bank (ADB) aimed at bolstering reforms, the cumulative debt of PSEs has soared to PKR 1.7 trillion, with an additional borrowing exceeding Rs43 billion in the fiscal year 2024.
What to expect from defense stocks going ahead? Pratik Oswal answers
A passive fund makes more sense because you have only 15 stocks that sort of qualify for this index and we hope to have a lot more stocks that qualify for this index in the future.
Equitas Small Finance Bank clocks 35% deposits growth, bucks sectoral trend
Equitas Small Finance Bank, with a priority sector focus, achieved a 35.4% year-on-year deposit growth to Rs 37524 crore by the end of June, surpassing the sectoral average of 12%. Advances increased 17.8% to Rs 34872 crore, although the CASA ratio fell to 31% due to faster term deposits growth. Provisional figures submitted to stock exchanges confirmed these results.
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Comeback Trail: After IT, time for large private banks to make a comeback? 6 top private banks with an upside potential of upto 40%
Today, because one private sector bank and some of the PSU banks are under pressure, the bank nifty is trading in the red. Because the bank in question, Kotak Mahindra bank has come under pressure due to one specific development which tends to be eye-catching, the whole narrative shifts to something which is not related to the core business of banking. If one leaves aside what is happening in the banks today and looks at a slightly broader picture, probably there are underlying indications of something else. A probability of a tactical investment opportunity building in the private sector banks taking place. Look at the leaders from that space, HDFC bank which has been at the forefront of getting all negative news is pretty much close to its earlier highs.
Farm loan waivers to negatively impact banks' asset quality: Macquarie
Macquarie Capital warned that farm loan waivers could negatively impact banks' asset quality, particularly for public sector banks. States like Telangana, Jharkhand, and Punjab are either implementing or considering such waivers. Macquarie's Suresh Ganapathy highlighted that these waivers create moral hazards and deteriorate credit culture, as even reliable farmers might start defaulting.
RBI urges banks to address credit gaps for underserved sectors
Despite India's progress in banking access, micro and small business units, marginal farmers, and self-help group members still lack institutional credit and comprehensive financial services, as highlighted by the Reserve Bank of India.
RBI revises its incentive framework to push banks to increase the flow of priority sector credit
The Reserve Bank of India has revised its incentive framework to push banks to increase the flow of priority sector credit to districts with lower credit flow. The central bank has assigned a higher weight of 125% to the incremental priority sector credit in districts with per capita priority sector credit less than Rs 9000, effective from FY25.
These 8 bank stocks can give more than 25% returns in one year
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Credit profile of fertiliser companies to remain comfortable in FY25: Ind-Ra
Demand in the fertiliser sector remained robust in FY24, led by higher availability of funds with farmers due to various policy measures, and the stable farm gate prices. Moreover, the sector over the past two-three years has seen supplementary budgetary allocations as and when the prices of key input materials were increased to enable raw material availability and economic viability with producers and importers.
Kinara Capital's resilient model gives it 51% profit rise despite distress in fintech sector
The fintech company has been profitable even when the customer segment was disproportionately impacted, says Hardika Shah, Founder & CEO of Kinara Capital. She says this has happened on the back of a balanced business model and strategic planning.
ONDC is bulking up financial services play with consumer-facing apps
Tata Group's super app Tata Neu and credit marketplace Paisabazaar are conducting pilot studies for credit disbursals through the ONDC network, with lenders like DMI Finance and Aditya Birla Finance already integrated.
Payoneer Elevate empowers 500+ service export SMBs on their global expansion journey
Payoneer Elevate 2024 marked the 8th edition of Payoneer’s global flagship event in India, empowering entrepreneurs, founders, and growth leaders of service export businesses on their journey towards global expansion. Held on April 18, 2024, in the capital city, Payoneer Elevate 2024 delivered domain-focused knowledge sessions for over 500 Indian Small- and Medium-sized Businesses (SMBs) aiming for global growth. Here's how Payoneer is leading the transformation of cross-border payments to support Indian SMB exports.
Targeting to hit milestone of Rs 20,000 cr loan book in 8-10 quarters: Shachindra Nath
If you look at this, the regulatory intent or the policy intent that the entire banking credit, 40% of average net banking credit should be in the priority sector. As we all know the banking sector, while in recent past the priority sector lending from bank side has improved, but for a variety of reasons the real priority sector credit dissemination has always been done by middle sized NBFCs.
Realty hopes reforms, infra development continuity as Modi 3.0 takes charge
Industry players and experts are emphasizing the need for tax rationalization and reduced approval costs to foster a more conducive environment for investment and development.
These midcap stocks with ‘strong buy’ & ‘buy’ recos can rally over 25%, according to analysts
One segment of the markets which was most vulnerable to election results was the mid-cap segment of the market for one simple reason, valuations have been on the higher end. Now that a part of the election anxiety is behind as a new government gets formed. Once again the focus is back on the mid-cap. There are selected stocks from different sectors where analysts are bullish in time where there is rotational trade likely to take place in the next couple of months. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". This predefined screener is only available to ET Prime users.
Bonds poised for a major bull run in next five years: Maneesh Dangi
I will tell you, first from a, let us say, asset classes point of view, we talked about equity, but a few people realise that return of Modi actually is absolutely loved by bonds because it sort of assures that this small risk of high fiscal deficit and potentially very high inflation has gone.
'Banks need to look beyond bulk deposits to fund loans': RBI
The Reserve Bank of India (RBI) Thursday said that banks must reduce their reliance on wholesale deposits to fund loans and be watchful of the risks associated with their advances and trading exposures amid interest rate fluctuations.
Reduce reliance on wholesale deposits to fund loans: RBI to banks
The Reserve Bank of India (RBI) advises banks to reduce dependence on wholesale deposits and manage risks from loans and trading amid fluctuating interest rates. Regulatory measures to curb consumer lending and diversify deposit sources are emphasized. The RBI plans to issue new guidelines to enhance financial stability and asset quality in FY25.
How Jocata is helping financial services industry move from legacy systems to AI-powered solutions
Jocata’s low-code platform is driving the future of enterprise lending and embedded finance, says Prashant Muddu, Managing Director & CEO.
Forest conservation, management in country saw advancement over last 15 years, India informs UNFF
Globally, India ranks third in the net gain in average annual forest area between 2010 and 2020. During the session, India said it gives high priority to biodiversity and wildlife conservation, having expanded the network of protected areas to over a thousand wildlife sanctuaries, national parks, tiger reserves, biosphere reserves, and other wildlife habitats. The recent celebrations marking 50 years of 'Project Tiger' and 30 years of 'Project Elephant' underscore India's commitment to species conservation and habitat protection, the environment ministry said in a statement.
Monetary, prudential steps' tango helps cut home loan NPAs
Prudential measures like risk weights and loan-to-value adjustments, along with interest rates, will be more effective in repayments of loans. This will also help in housing credit growth and controlling the asset quality of banks' home loan portfolios, it shows.
Export credit access may become easier amid geopolitical tensions
The government is evaluating ways to enhance export competitiveness by examining the export credit landscape. Seeking insights from exporters, it aims to address challenges and improve access to financial resources crucial for international trade. With a focus on reducing the cost of export credit, officials are studying best practices from other countries. This initiative comes as India's goods exports declined in FY24, prompting exporters to seek longer-term funding amid global uncertainty.
NABARD estimates Rs 3.62 lakh cr priority sector credit potential for FY25
The National Bank for Agriculture and Rural Development (NABARD) has projected a priority sector credit potential of Rs 3.62 lakh crore for 2024-25. This projection reflects a remarkable 32 per cent rise from its previous year's assessment, a bank official said Tuesday.
NABARD report puts Gujarat's credit potential at Rs 3.53 lakh crore for 2024-25
A NABARD report reveals Gujarat's credit potential for priority sectors is Rs 3.53 lakh crore. The report proposes strategies to enhance credit absorption capacity through partnerships and policy interventions. AK Rakesh, Additional Chief Secretary, urges bankers to achieve the credit potential.
NABARD projects priority sector credit target of Rs 3.97 lakh cr for Karnataka in 2024-25
"Of the total, the share of agriculture sector including agri-infrastructure and ancillary activities is Rs.1.85 lakh crore (46 per cent), MSME sector is Rs.1.58 lakh crore (40 per cent) and other priority sector activities is Rs.0.54 lakh crore (14 per cent)," a statement issued by NABARD quoted him as saying.
Karnataka Bank & Clix Capital partner for co lending
The partnership is focused on providing loans to the Indian MSME sector which is one of the biggest contributors to India's GDP and employment growth. The agreement is in line with the Reserve Bank of India's guidelines on co-lending by banks and NBFCs to priority sectors.
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