Central banks cagey about joining the global interest-rate cutting cycle may reveal themselves this week with a quartet of decisions in advanced economies. Days after the Federal Reserve pared back projections for US monetary easing this year, policymakers from the UK to Australia are likely to signal that they’re still not convinced enough about disinflation … Read more
Eight of the 10 most valued domestic firms together added Rs 3.28 lakh crore to their market valuation last week, with blue-chips Tata Consultancy Services, Hindustan Unilever and Reliance Industries emerging as the biggest winners. In an eventful week, the BSE benchmark jumped 2,732.05 points or 3.69 per cent. The 30-share BSE Sensex jumped 1,720.8 … Read more
Market regulator Securities and Exchange Board of India (Sebi) has issued a warning to ICICI Bank on the outreach undertaken by the lender regarding the delisting of ICICI Securities. The regulator said the outreach programme was done with the objective of maximising participation in the voting process. “The outreach was done in face of a … Read more
U.S. equity funds saw outflows for the first time four weeks in the seven days ended May 29, hit by rising bond yields and uncertainty over the timing and extent of Federal Reserve interest rate cuts. According to LSEG Lipper data, net outflows from U.S. equity funds totalled $7.6 billion. This came as the yield … Read more
Mumbai: The Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly-owned subsidiary of the Reserve Bank of India (RBI), reported a 17% increase in its deposit insurance fund in FY24. The Deposit Insurance Fund (DIF), which is crucial for settling claims of depositors from liquidated or amalgamated banks, climbed to ₹1,98,310 crore as of March … Read more
New Delhi, Shareholders and non-convertible debenture (NCD) holders of IDFC First Bank have approved a proposal to merge parent IDFC Ltd with the lender. The National Company Law Tribunal (NCLT) convened a meeting on May 17 through video conferencing and other audio-visual means to consider and approve the composite scheme of amalgamation for IDFC First … Read more
The Nifty Bank fell over 1% on Thursday tracking weak global cues to close below its crucial psychological support of 48,000. The banking index fell 533 points to close at 47,487 while the Nifty50 saw a decline of 345 points to close below the 22000 mark. IDFC First Bank, PNB, HDFC Bank, and IndusInd Bank … Read more
RBL Bank reported a net profit growth of 30% to Rs 353 crore for the quarter ended March 31, 2024 as against Rs 271 crore reported by the lender in the year ago period. The profit after tax (PAT) jumped 51% on the quarter-on-quarter basis versus 233 crore posted in the October-December quarter. Total revenue … Read more
A U.S. Federal Reserve meeting and Apple and Amazon reporting results will keep investors’ focus in the days ahead on the global rates outlook and on tech earnings, while growth and inflation data from Europe and China are also coming out. 1/ WILL THEY, WON’T THEY? Hints of whether the Fed still expects interest rate … Read more
State-owned Bank of Maharashtra (BoM) on Friday reported a 45 per cent jump in its net profit to Rs 1,218 crore for the March quarter, helped by a decline in bad loans and a rise in interest income. The Pune-based lender had earned a net profit of Rs 840 crore in the year-ago period. During … Read more
