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MUFG’S talks for stake in HDFC Bank said to hit snag
Mitsubishi UFJ Financial Group Inc. (MUFG) is facing hurdles in its negotiations to acquire a minority stake in HDFC Bank Ltd.'s consumer lending unit, HDB Financial Services Ltd. The main point of contention is the extent of control MUFG would have over HDBF's business strategy. While MUFG remains interested in the deal, talks are at risk of further delays or possibly collapsing altogether due to these disagreements.
Comeback Trail: After IT, time for large private banks to make a comeback? 6 top private banks with an upside potential of upto 40%
Today, because one private sector bank and some of the PSU banks are under pressure, the bank nifty is trading in the red. Because the bank in question, Kotak Mahindra bank has come under pressure due to one specific development which tends to be eye-catching, the whole narrative shifts to something which is not related to the core business of banking. If one leaves aside what is happening in the banks today and looks at a slightly broader picture, probably there are underlying indications of something else. A probability of a tactical investment opportunity building in the private sector banks taking place. Look at the leaders from that space, HDFC bank which has been at the forefront of getting all negative news is pretty much close to its earlier highs.
ITR filing for FY2023-24: Latest full list of authorised banks for tax payments available at e-Pay Tax service
Taxpayers are offered wide range of modes for payment, including Net Banking, Debit card, Pay at Bank Counter. List of banks for tax payments available at e-Pay Tax service, as per the Income Tax Department’s website:
Latest PPF (Public Provident Fund) interest rate for July- September 2024 quarter
Latest PPF interest rate: The Public Provident Fund (PPF) is widely favored as a savings option. The government has recently revealed the interest rates for small savings schemes for the period of July to September 2024. PPF investments are considered risk-free as it is government backed.
Tight liquidity forces banks to tap debt markets, shell out more
"To a certain extent, the year-on-year rise in the bank borrowing numbers is a reflection of the merger between HDFC and HDFC Bank. But apart from that, it is clearly a reflection of the tightness in the liquidity and that was, to a certain extent, exacerbated in the month of May because government spending was restricted during the Union election," said Soumyajit Niyogi, director at India Ratings & Research.
Rates on fresh loans and deposit moderate sequentially in May
In May 2024, the Reserve Bank of India reported a marginal decline in weighted average lending rates on fresh loans and deposits by 16 and one basis points, respectively. The WALR on fresh rupee loans fell to 9.39%, while the WADTDR on fresh term deposits dropped to 6.47%.
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ICICI Bank raises Rs 3,000 crore through 10-year infra bonds
Funds raised through infrastructure bonds, which have a minimum maturity of 7 years, are exempted from the maintenance of Statutory Liquidity Ratio and Cash Reserve Ratio.
Tata Group retains No 1 position in Brand Finance India Report 2024
Infosys has also exhibited a strong growth with a 9 per cent growth. The report has put its brand value to USD 14.2 billion despite a slowdown in the global IT Services sector. While HDFC Group has jumped to third sport with a valuation of USD 10.4 billion, following its merger with HDFC Ltd.
What should investors do with telecom stocks? Sandip Sabharwal answers
So, the best play is Bharti only because that is a pure play which has profits, which has a decent balance sheet, and which has market share and still gaining market share. Vodafone Idea is more about hope. Now the hope is that at some stage they will make profits. I am very doubtful that one, with their current balance sheet, etc, if shareholders will ever get one rupee EPS also from this company.
Deven Choksey on one sub-sector to be bullish on in run up to Budget
Maybe for buying the deep value investment opportunity, we will have to see a correction in the market. If at all it comes, that would be a good opportunity to buy into it. But otherwise, I maintain that I think, yes, the fundamental is not doubted. The current valuations are not comforting.
SBI plans to raise Rs 10,000 crore via infrastructure bonds on Wednesday
state Bank of India plans to raise up to Rs 10,000 crore through the issuance of 15-year infrastructure bonds as the country’s largest lender looks to garner long-term capital at a time when demand for loans continues to outstrip growth in deposits.
Gold loan interest rates in June 2024: Latest gold loan interest rates of 24 banks
A gold loan is a secured loan that allows you to leverage the value of your gold ornaments or jewelry to obtain funds. Latest gold loan interest rates offered by banks in June 2024.
Headwinds of high FPI exposure, but good for long term: 6 stocks the financial services sector with an upside potential of up to 25 %
One of the most intriguing aspects of presenting the return performance of stocks, or any asset class for that matter, is how a slight adjustment in the calculation date can dramatically alter the perception, making the glass appear either half full or half empty. This phenomenon is particularly evident in the case of financial service stocks. Recently, these stocks have often been portrayed as underperformers. However, this overlooks the fact that over the long term, they have provided substantial returns and generated significant wealth. The short-term underperformance of these stocks can be attributed to their heavy ownership by Foreign Portfolio Investors (FPI). As FPIs have been net sellers in Indian equities, financial service stocks have faced selling pressure. Nevertheless, the relative decline in stock prices is considerably less severe than in previous instances of similar selling activity. Given the robust fundamentals of these stocks compared to a few years ago, it is prudent to view them from a long-term investment perspective.
Loan interest rates in June 2024: These 6 banks have revised loan interest rates in June 2024
Latest loan interest rates: Banks regularly, usually on a monthly basis, assess their marginal cost of lending rates (MCLR) to account for variations in their financing costs and other pertinent aspects. Here are the top banks and their lending rates offered in June 2024, reflecting the changes in MCLR.
HDFC Bank may take infra bond route to raise around Rs 15,000 crore
"Bond markets are relatively stable now after the election-related volatility and for HDFC Bank, infrastructure bonds are a desirable option because these instruments bring leeway on maintenance of statutory liquidity ratio (SLR) and cash reserve ratio (CRR)," said a source aware of the developments.
FD interest rate up to 9.1%: 9 banks have revised fixed deposit terms, rates after new RBI rule
FD interest rates in June: The RBI announced the proposal to revise the definition of bulk fixed deposits. Here is a list of banks that have revised the date and updated their retail deposits from Rs 2 crore to Rs 3 crore.
Up to 7.75% FD interest rate: HDFC Bank revises fixed deposit interest rates
Latest HDFC Bank FD rates: After the State Bank of India (SBI), HDFC Bank has revised fixed deposit tenures and interest rates for deposits below Rs 2 crore. The new rates are effective June 10, 2024.
HDFC Bank reduces interest rate on this loan: Check details
HDFC Bank has revised its marginal cost of funds-based lending rates (MCLR), according to its official website on June 7, 2024. HDFC Bank’s benchmark marginal cost of funds-based lending rates (MCLR) ranges between 8.95% and 9.35%.
Re-KYC update of bank account: How to update KYC of bank account online in HDFC Bank, SBI, Canara Bank, ICICI Bank
How to update KYC details: Re-KYC is a procedure that allows banks and other financial organisations to stay up to date on a customer's most recent contact data and personal details. Here is how you can update your KYC details online for these top banks.
Up to 8.5% FD interest rate in June 2024: FD interest rates of Yes Bank, SBI, HDFC Bank, ICICI Bank, PNB, Canara Bank compared
FD Rates in June 2024: Let us compare the FD interest rates of major banks such as YES Bank, SBI, HDFC Bank, ICICI Bank, PNB, and Canara Bank.
Grab Apple iPad Air (2024) and iPad Pro (2024) now with extra discounts and offers
Explore the latest deals on Apple's iPad Air (2024) and iPad Pro (2024) models, offering cutting-edge technology, stunning displays, and powerful performance. Take advantage of special discounts and offers to enhance your digital experience with these premium tablets.
Latest bank charges to send money abroad: SBI, HDFC Bank, ICICI Bank, Axis Bank, IDFC FIRST Bank, DBS Bank India
It means that as per the RBI rules, one can transfer of money up to USD 250,000 per calendar year for defined purposes. However, fees per transaction differ depending on the bank. Here is a comparison of the latest top banks’ charges for sending money abroad.
Up to 7.25% FD rate: Which bank is offering highest fixed deposit rate; SBI HDFC Bank, ICICI Bank, PNB, Canara Bank, Axis Bank
Best FD Rates: The State Bank of India has hiked its fixed deposit interest rates on select tenures below one year. Here is a comparison of the FD rates offered by these banks and the latest revised SBI FD interest rates
Car loan interest rates for May 2024: Latest car loan interest rates of top 18 banks
Latest car loan interest rates: The EMIs you pay on the loan will vary significantly depending on the interest rate. You might be able to work out a better deal and get a cheaper interest rate if you have good credit. List of car loan interest rates offered by 18 banks in 2024.
Loan interest rates of top banks in May 2024: SBI, HDFC Bank, Bank of Baroda, Canara Bank, PNB
The repo rate and other loan-related rates will be taken into account when revising the MCLR on a monthly basis. Here is a look at the latest MCLR of the top 7 banks in May 2024.
Gold loan interest rates 2024: SBI, PNB, HDFC Bank, ICICI Bank, Axis Bank, Bank of Baroda
Latest gold loan interest rates: Gold ornaments, including gold coins that banks sell, can be pledged to get a gold loan with little paperwork and a reasonable interest rate. Here is a look at different banks' latest gold loan interest rates, as per the bank websites.
HDFC Bank home loan, car loan, personal loan borrowers, check HDFC Bank latest lending rates here
The Marginal Cost of the Fund-Based Lending Rate or the MCLR is the minimum interest rate that a financial institution needs to charge for a specific loan. Check latest MCLR, base rate, benchmark PLR offered by HDFC Bank.
Kotak Mahindra Bank is the latest student in RBI's classroom
The Reserve Bank of India's increased scrutiny on Kotak Mahindra Bank has resulted in a temporary halt on acquiring new customers through online and mobile banking channels and issuing fresh credit cards, causing a significant drop in the stock price of the private sector lender. However, the RBI has been taking incremental actions on financial institutions in recent years. Check the list.
This bank offers up to 7.25% saving account interest rates, 8.5% FD rates; check details
Fincare Small Finance Bank FD and savings account interest rates: Following the modification, will bank offer the highest interest rates on savings accounts up to 7.25% and on fixed deposits the bank will offer highest interest rate of 8% for general citizens and 8.50% for senior citizens.
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