Finance

January 14, 2025 12:45 PM

Banks hike interest rates on FDs amid fierce competition for deposits

Banks have started offering higher returns on FDs amid fierce competition to raise more deposits. While leading banks such as SBI and HDFC were the first to raise interest rates on FDs, smaller banks such as IDBI have followed suit for fear of getting left behind in the race. SBI introduced a new category of super senior citizens above 80 years -- who will get 10 basis points more than senior citizens. This scheme has been adopted by IDBI Bank as well. IDBI Bank has launched the 'IDBI Chiranje...

December 23, 2024 10:16 AM

Sensex, Nifty rebound amid mixed global cues

The Indian stock market jumped more than 600 points in early trade on Monday amid positive mixed global cues. At around 9:29 am, the Sensex was trading at 78,665.83 after gaining 624.24 points, or 0.80 percent, while the Nifty was trading at 23,773.45 after gaining 185.95 points, or 0.79 percent. The market trend remained positive. On the National Stock Exchange (NSE), 1,223 stocks were trading in green, while 494 stocks were in red. According to experts, in the short run, there will be marke...

December 12, 2024 6:38 PM

PSB reforms: financial inclusion, credit growth and employee welfare

The central government has implemented a series of reforms over the past decade aimed at improving the performance of Public Sector Banks (PSBs). These measures have addressed challenges such as non-performing assets (NPAs), financial inclusion, and credit growth. In 2015, the Reserve Bank of India introduced the Asset Quality Review (AQR) to identify and address stressed accounts. This led to the transparent recognition of NPAs, with the gross NPA ratio peaking at 14.58% in March 2018 befo...

May 21, 2024 8:31 PM

BSE Market Cap Hits $5 Trillion Milestone

The market capitalisation of companies listed on the Bombay Stock Exchange (BSE) has reached a historic $5 trillion as of May 21, marking a fresh high. This achievement is attributed to the ongoing rally in the Indian stock markets, bolstered by firm support from various sectoral indices and positive economic indicators. Indian stock indices have shown resilience with minimal volatility over recent sessions. The conclusion of the five-phase general elections has bolstered investor confidence, w...