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Major credit card rule changes of big banks that will come into effect in July: SBI Card, HDFC Bank, ICICI Bank, Citibank
New credit card rules: Many major banks have implemented significant modifications to the credit card services. Let's examine the important changes to credit card services offered by these major institutions, which will take effect in July.
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.
Nifty Bank hits fresh record high; next target seen at 53000: Experts
The Nifty Bank surpassed its crucial resistance levels to hit a fresh record high above 52,700 levels for the first time. Experts suggest that if the current banking-led momentum persists, the rally could potentially push the Nifty towards 53,000. Top gainers included SBI, HDFC Bank, ICICI Bank, and Axis Bank while selling was seen in Bank of Baroda, PNB, and Bandhan Bank.
Nifty charts projecting 25,200 by December, says ICICI Securities. Top 94 stock picks
ICICI Securities' technical analysis forecasts Nifty reaching 25,200 by December 2024, supported strongly at 22,200. Midcaps and smallcaps indices are in a structural uptrend, expected to gain over 16% by year-end.
Bulls in Action: Sensex jumps over 200 points, Nifty crosses 23,600; mid and smallcaps outperform
Within the Nifty pack, UltraTech Cement, HDFC Bank, Divi's Lab, Coal India, and SBI were the top gainers while HCL Tech, Asian Paints, and Titan faced selling pressure. Shares of new-age companies like Paytm, Zomato, and Policybazaar traded higher by around 2% each after Morgan Stanley's bullish note.
SBI plans to raise Rs 10,000 crore via infrastructure bonds on Wednesday
state Bank of India plans to raise up to Rs 10,000 crore through the issuance of 15-year infrastructure bonds as the country’s largest lender looks to garner long-term capital at a time when demand for loans continues to outstrip growth in deposits.
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Gold loan interest rates in June 2024: Latest gold loan interest rates of 24 banks
A gold loan is a secured loan that allows you to leverage the value of your gold ornaments or jewelry to obtain funds. Latest gold loan interest rates offered by banks in June 2024.
Nifty Bank closes flat but above 51,700; immediate resistance seen around 52,000: Experts
HDFC Bank, Bank of Baroda, ICICI Bank, and AU Small Finance Bank led gains while selling was seen in SBI, Axis Bank, PNB, and IndusInd Bank. Bank Nifty has the highest PE OI at a 51,000 strike price, while the maximum CE OI is at 52,000, indicating this week’s expiry range to confide within 51,000 to 52,000, data showed.
Outperformance of private sector banks may continue for next one year: Sandip Sabharwal
The smaller pharma companies I find it tough to evaluate, so many of them can potentially do well but I do not have the bandwidth to go molecule by molecule and evaluate those companies. But I think Sun Pharma is a decent business model, so we are just holding it for the long term.
Monday blues! Heavyweights drag Sensex 400 points lower; Nifty below 23,400
The weakness was led by selling pressure in banks and metal stocks, while FMCG and consumer durables saw some buying amid sectoral rotation. IndusInd Bank fell around 3% and was the top loser in the Nifty pack, followed by 2% plus declines in Cipla, Tata Steel, and Adani Ports. On the other hand, defensives from pharma, FMCG, and IT - Sun Pharma, ITC, Nestle, TCS, and HUL - saw buying action.
Tech View: Nifty likely to trade in a range
Nifty's trajectory remains uncertain, influenced by sector rotation and FIIs' activities. Investors should focus on specific stocks and sectors for trading opportunities to capitalize on market movements.
What will be the big trade in the run-up to the Budget? Here’s what Rahul Shah has to say
Rahul Shah says that HDFC Bank has not performed well for the last so many months and we all know that there is speculation on MSCI weightage and all. If it happens, then my gut feeling is that HDFC will outperform. But if it does not happen, then SBI will definitely outperform the HDFC.
Earn FD interest rate up to 9.50%: Which bank is offering the highest fixed deposit rates for senior citizens?
Earn FD interest rate up to 9.50%: Banks offer higher interest rates to senior citizen customers on fixed deposits than to general citizens.
Sensex, Nifty hit brakes on record run; Nifty IT defies market mood
Indian equity indices, influenced by global trends, closed lower on Friday. The Sensex fell 269 points to 77,209, and the Nifty dropped 66 points to 23,501, impacted by Reliance Industries, L&T, and HDFC Bank.
SBI, RIL among top 10 stock holdings of Sundaram Mutual Fund
Sundaram Mutual Fund manages assets worth Rs 60,969 crore (as of May data) across 74 mutual fund schemes. Here are the top 10 stock holdings of the fund house, according to Motilal Oswal Financial Services report:
Pause on the cards: Fintechs may take a hit as most banks stay away from BBPS
RBI mandates credit card bill payments through BBPS, but only 8 of 34 banks are live on the network, causing concern among payment companies like PCI for an extension.
RIL, Infosys, and NTPC among top 10 stock holdings of HDFC Mutual Fund
HDFC Mutual Fund manages an asset base of Rs 6.83 lakh crore as on May 2024 and is the third largest fund house based on assets managed. The fund house manages 129 mutual fund schemes. Here are the top 10 stock holdings of the fund house, according to a report by Motilal Oswal Financial Services.
Sensex extends record closing run to 4th session; Nifty slips below 23,550 levels
From the Sensex pack, Axis Bank and HDFC Bank were the top gainers, rising over 3% each. ICICI Bank, Kotak Mahindra Bank, IndusInd Bank, and SBI were other top index gainers. On the flip side, Titan, Bharti Airtel, Maruti, L&T, and NTPC were the top laggards.
Consolidation phase to continue for banks; SBI, HDFC remain preferred picks: InCred Equities
The domestic brokerage firm also stated that the bank managements are already adopting various means including driving staff KRAs and incentivizing employees towards higher deposit augmentation and the recent branch expansion of most banks in semi-urban/rural areas will drive the CASA deposits momentum
Interest certificate for filing ITR: How to download interest certificate from SBI, HDFC Bank, ICICI Bank, Canara Bank, Axis Bank
Interest certificate for filing ITR: Here is how to download interest certificates from top banks such as SBI, HDFC Bank, ICICI Bank, Canara Bank, Axis Bank, and Kotak Mahindra Bank.
Banking 'efficiency': Public sector banks beat private peers in new SBI list
The study evaluates efficiency by examining how effectively banks utilise their resources to produce output at an optimal scale.
How to deactivate FASTag: SBI, ICICI Bank, HDFC Bank, Airtel app
NETC FASTag is a device that employs Radio Frequency Identification (RFID) technology for making toll payments directly from the prepaid account linked to it. It is fixed on the windscreen of your vehicle, which enables you to drive through any toll plaza - so you don't have to stop for any cash transactions.
Loan interest rates in June 2024: These 6 banks have revised loan interest rates in June 2024
Latest loan interest rates: Banks regularly, usually on a monthly basis, assess their marginal cost of lending rates (MCLR) to account for variations in their financing costs and other pertinent aspects. Here are the top banks and their lending rates offered in June 2024, reflecting the changes in MCLR.
Up to 8% RD interest rate: Recurring deposit rates offered by HDFC Bank, SBI, ICICI Bank, PNB, Yes Bank
Many banks have revised their interest rates on their recurring and fixed deposits. By consistently making monthly contributions of a fixed amount with a recurring deposit (RD) plan, you may save money over time and achieve your financial objectives. Here is a quick comparison of HDFC Bank, SBI, ICICI Bank, PNB, Yes Bank recurring deposit interest rates.
Jefferies' Wood picks GMR Airports, reduces weights in three banks
Wood said, in his weekly Greed & Fear newsletter, that the airport operator's introduction into its portfolio will be at the expense of the reduction of weights in ICICI Bank, HDFC Bank and Axis Bank.
A breakout above 50,200 required for bulls to take control of Nifty Bank: Experts
The index closed with a negative bias at 49,846. Counters like IndusInd Bank, SBI, Kotak Bank and HDFC Bank saw strong buying action, while selling was seen in Federal Bank, ICICI Bank, Axis Bank and Bandhan Bank.
FD interest rate up to 9.1%: 9 banks have revised fixed deposit terms, rates after new RBI rule
FD interest rates in June: The RBI announced the proposal to revise the definition of bulk fixed deposits. Here is a list of banks that have revised the date and updated their retail deposits from Rs 2 crore to Rs 3 crore.
Re-KYC update of bank account: How to update KYC of bank account online in HDFC Bank, SBI, Canara Bank, ICICI Bank
How to update KYC details: Re-KYC is a procedure that allows banks and other financial organisations to stay up to date on a customer's most recent contact data and personal details. Here is how you can update your KYC details online for these top banks.
Up to 8.5% FD interest rate in June 2024: FD interest rates of Yes Bank, SBI, HDFC Bank, ICICI Bank, PNB, Canara Bank compared
FD Rates in June 2024: Let us compare the FD interest rates of major banks such as YES Bank, SBI, HDFC Bank, ICICI Bank, PNB, and Canara Bank.
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