Following the RBI MPC's repo rate hike earlier this month, many banks like Bank of Baroda, Bank of India, and Punjab National Bank have also hiked their key lending rates
The deposit and lending rates are directly proportional to the repo rate, and they generally go up if the benchmark rate is hiked
One cannot completely rule out the possibility that the pause button would be pressed at the next MPC meet. Future actions, both for policy rate and stance, will depend on evolving data
UPI transactions touched a record high of 8.03 billion transactions in January, adding up to Rs 12.98 trillion
Policy rate increased by 25 bps to a 4-year high of 6.5%
Traders expect the excess cash with banks to dry up significantly over the next three to four months
Post 'short-squeeze' episodes, market had called for more players in security lending
CLOSING BELL: Adani Enterprises surged 23 per cent, while Adani Ports zoomed 9 per cent, leading the winners' list on the Nifty50
The MPC's optimistic growth outlook for H2 FY2024 augurs well for the credit demand for the banking sector as well as the lenders, said Karthik Srinivasan of Icra
Descending Triangle breakdown on Nifty Bank index may see up to 5% decline
RBI MPC: Shaktikanta Das said that the repo rate hike of 25 bps is considered appropriate at this juncture but the monetary policy will remain agile to inflation
Need to see decisive decline in inflation, core inflation still sticky, says RBI governor
The impact will be short-term, and the boost in budgetary allocations towards infrastructure will keep the demand robust
At 11:00 am; Nifty Bank, Nifty Private Bank, Nifty PSU Bank and Nifty Financial Services are trading almost flat, as against 0.58% rise in Nifty 50.
RBI monetary policy: In December, Das had said that despite consecutive rate hikes, core inflation had continued to remain 'sticky'
Stocks to Watch: Airtel reported a 91.5 per cent year-on-year rise in consolidated net profit; Adani Green Energy's consolidated net profit more than doubled to Rs 103 crore in Q3
Over the past 5-10 years, the probability of default would have been very high for the banking sector and that's why eventual ECL provisions could be higher
Financial markets in 2022 have remained volatile and edgy with the central banks globally in unison in a rate hike cycle
The underperformance of the small-caps, according to analysts, was mostly due to rising raw material prices and the hike in rates by central banks, which in turn impacted their financial performance
Non-promoter shareholding in the company exceeded the 10% ceiling prescribed for TReDS operators