Page 42 - Finance Sector

Fedbank Financial IPO to open on Nov 22 at price band of Rs 133 to Rs 140

Fedbank Financial Services provides loans to MSMEs and emerging self-employed individuals

India bond yields seen easing as oil, US peers decline; debt sale eyed

The 10-year benchmark bond yield is expected to move in a range of 7.21%-7.26%, after ending the previous session at 7.2356%, a trader with a primary dealership said

Microfinance sector lent Rs 3.48 trn in FY23, NBFC-MFI topped: Report

NBFC-MFI and banks comprise 73.90% of total lending by microfinance institutions

Consumer durables sales see a pick-up on lucrative festival finance schemes

Premiumisation gets a push due to longer term EMIs and lower upfront payments

North-South divide at a crossroads

As the Finance Commission deliberates on the terms of reference, it is crucial that it acknowledges the existential threat facing India

Green finance market size could be $5.6 trn by 2047

India's commitment to the Paris Accord is not just a survival goal. It's India's opportunity to catapult itself among the "Great Powers"

Regulators must collaborate on international standards, says Irdai chief

In order for the financial sector to strike a right balance between the interests of the stakeholders and the broader society, the regulatory framework should be both enabling and protecting

Cholamandalam Investment and Finance Q2 result: Profit up 35% to Rs 762 cr

Cholamandalam Investment and Finance Company has reported a standalone profit of Rs 762.49 crore for the July-September 2023 quarter following an all round growth in disbursements and assets under management, the company said. The city-based financial services arm of diversified conglomerate Murugappa Group had reported a standalone profit at Rs 563.41 crore in the corresponding quarter of last year. For the six months period ended September 30, 2023 the standalone profit surged to Rs 1,488.50 crore from Rs 1,129.07 crore recorded during the corresponding period of last year. Total income on standalone basis stood at Rs 4,571.89 crore, as against Rs 3,037.78 crore registered during the same period of last year. For the half-year ended September 30, 2023 the standalone total income grew to Rs 8,705.51 crore from Rs 5,808.71 crore registered during the year ago period. In a statement, the company said the growth in disbursements and the Assets Under Management were robust during the

RBI launches two key surveys which will provide inputs for monetary policy

The Reserve Bank of India on Wednesday announced the launch of 'Inflation Expectations Survey of Households' and 'Consumer Confidence Survey' which will provide key inputs for the bi-monthly monetary policy. The next bi-monthly monetary policy is scheduled during December 6-8. The 'Inflation Expectations Survey of Households' captures subjective assessments on price movements and inflation based on their individual consumption baskets, across 19 cities, including Bhopal, Bhubaneswar, Chandigarh, Chennai, Delhi and Thiruvananthapuram. The survey on inflation seeks qualitative responses from households on price changes in the three months ahead as well as in the one year ahead period and quantitative responses on current, three months ahead and one year ahead inflation rates, according to RBI releases. The 'Consumer Confidence Survey' seeks responses from households, regarding their sentiments on general economic situation, employment scenario, price level, households' income and ...

France announces 100 mn euro loan to support India's Smart Cities Mission

The loan supports India's innovative flagship Smart Cities Mission and builds on the CITIIS 1 programme, also supported by the European Union

TVS Credit Services posts 14% rise in AUM at Rs 23,516 cr as of Sep

Leading non-banking financial company TVS Credit Services Ltd has witnessed its assets under management grow by 14 per cent to Rs 23,516 crore as of September 30, 2023 the company said. The city-based company had registered an AUM of Rs 20,602 crore as of March 31, 2023. The company reported a 40 per cent growth on its net profit after tax for the quarter ending September 30, 2023 at Rs 134 crore, as compared to Rs 96 crore during the corresponding quarter of last year, a company statement here said. The company had registered a net profit after tax of Rs 252 crore for the half year ending September 30, 2023. In the first half of FY24, credit demand continued to be strong, aided by higher consumption and infrastructure outlay by the government. During H1 FY24, TVS Credit's business witnessed significant growth, led by the robust performance of consumer loans with a book growth of 59 per cent compared to H1 FY23, the statement said. The company also added 20 lakh new customers duri

Mixed show for AMCs in second quarter; limited scope for stock rally

From a stock performance perspective, analysts appear to be divided, with many anticipating only modest returns due to valuation concerns

BS BFSI Summit: General Insurance sector eyeing 1.5% penetration by 2030

In the past two decades, the industry grew at a rate of over 16 per cent despite seeing correction in prices

BS BFSI Insight Summit: SBI to drive in with Yono 2.0 in nine months

Sees no concern on NPA front; macros in mint condition

DCB Bank logs 13% rise in net profit to Rs 127 crore during Jul-Sep quarter

DCB Bank on Tuesday reported a 13 per cent rise in net profit to Rs 127 crore in the September quarter, driven by core income. The private sector lender had posted a net profit of Rs 112 crore in the year-ago period. Total income in the second quarter of the current fiscal rose to Rs 1,413 crore from Rs 1,099 crore in the same period a year ago, DCB Bank said in a regulatory filing. The net interest income of the bank improved to Rs 476 crore in the quarter under review from Rs 411 crore a year ago. The bank's asset quality showed improvement as gross non-performing assets declined to 3.36 per cent of gross advances at the end of the September quarter from 3.89 per cent. Similarly, net NPAs or bad loans declined to 1.28 per cent as against 1.54 per cent in the year-ago period. However, capital adequacy ratio of the bank declined to 16.55 per cent as compared to 17.91 per cent at the end of the September quarter last year.

BS BFSI Summit: 'Cybersecurity took a back seat in post-Covid Cloud rush'

Bellary pointed out that while the Cloud offered flexibility and agility to accelerate transformation significantly, cybersecurity is still trying to catch up

BFSI highlights: Q2 GDP numbers will surprise all on upside, says Guv Das

India's highest decision-makers brainstorm on the country's future growth trajectory and maintaining financial stability amid global headwinds at BS BFSI Insight Summit today

Credit growth to industry decelerated, improved for agriculture in Sep: RBI

Personal loan growth too decelerated to 18.2 per cent year-on-year in September 2023 (19.4 per cent a year ago), due to moderation in credit growth to housing, the central bank said

Payment is not like sending a chat message or Insta post: PhonePe's Nigam

At BS BFSI Summit 2023, Nigam said PhonePe had the belief that it would win because it was willing to deploy a large workforce on the merchant acceptance and operating side

Unified regulator IFSCA like an agile startup: K Rajaraman at BFSI Summit

Chairman Rajaraman says banking and fund ecosystem at Gift City very robust