Bank credit grew 5.93 per cent to Rs 107.05 lakh crore, while deposits rose 11.06 per cent to Rs 147.98 lakh crore in the fortnight ended January 29, RBI data showed. In the fortnight ended January 31, 2020, bank credit stood at Rs 101.05 lakh crore and deposits at Rs 133.24 lakh crore. In the … Read more
Retail inflation slowed to a 16-month low in January on the back of cooling of some food items, while industrial output growth clawed back into positive territory in December, bringing some cheer for an economy battling a record slump due to the impact of the deadly pandemic. Data released by the National Statistical Office (NSO) … Read more
Punjab National Bank, the second-largest public sector lender, has received loan restructuring requests worth Rs 12,000 crore out of the 40,000 crore it had anticipated on account of stress due to the Covid-19 pandemic on businesses and individuals, the bank’s Managing Director Mallikarjuna Rao said. Out of the total restructuring requests, restructuring sought for corporate … Read more
Is there any logical explanation to this? I think there is – checkout if it makes sense.
HDFC Bank on Tuesday said the Reserve Bank of India (RBI) has appointed an external IT firm for carrying out a special audit of its IT infrastructure in the aftermath of repeated service outages at the country’s largest private sector lender over the past two years. “RBI has appointed an external professional IT firm for … Read more
What makes companies stock market favourites? They dare to dream. As equity indices scaled fresh peaks in 2021, here’s how an initial push of Rs 10,000 fared over the decades in the below mentioned stocks. IT stocks Infy: Rs 1.5 crore (1995*) Infosys is the stuff of middle class dreams. It was founded as an … Read more
The Adani Group Sunday refuted allegations levelled by BJP politician Subramanian Swamy that it owes Rs 4.5 lakh crore as NPA to banks and claimed it has maintained an “impeccable record of not a single NPA in the three decades of its existence”. “The Adani Group strongly objects to a factually incorrect tweet posted by … Read more
The Comptroller and Auditor General of India (CAG) has written to the finance ministry seeking details about the ongoing performance audit of government’s massive recapitalisation excercise of public sector banks (PSBs). CAG is doing performance audit on recapitalisation of PSBs after 2016-17 and it has written a letter to the Department of Financial Services, Ministry … Read more
Chinese regulators announced measures to crack down on Jack Ma’s Alibaba and Ant Group on Thursday. Beijing will investigate e-commerce site Alibaba, co-founded by Ma, over alleged anti-monopolistic practices, and urge fintech Ant Group to implement stricter financial regulations, regulators said. Ant Group’s IPO, which would have been the world’s biggest-ever, was halted in November … Read more