The housing finance industry is experiencing significant leadership changes as three managing directors have resigned in recent weeks. Manish Jaiswal of Grihum, Girish Kousgi of PNB Housing Finance, and Monu Ratra of IIFL Home Finance are all departing. These leaders…
Read More
The banking sector’s loan loss provisioning surged to a three-year high in the June quarter, driven by increased provisioning from private sector banks. While private banks saw a significant rise, public sector banks reported a decline in provisioning. This increase…
Read More
Economists anticipate India’s monetary policy framework to remain largely unchanged, retaining the 4% retail inflation target. Tweaks are expected to enhance communication of inflation goals, particularly regarding core inflation. While the flexible inflation targeting framework is likely to persist, increased…
Read More
SMBC is set to initially acquire a 20 per cent stake from existing investors, including SBI and other private banks, valued at ₹13,500 crore.
Read More
LIC, which acquired a controlling stake in IDBI Bank in 2019, will be reclassified as a public shareholder after the bank’s strategic disinvestment. SEBI has approved the reclassification, capping LIC’s voting rights at 10% and requiring it to reduce its…
Read More
The Dow Jones Industrial Average rose 846.24 points, or 1.89%, to 45,631.74, surpassing its most recent record close on December 4, 2024. The S&P 500 gained 96.74 points, or 1.52%, to 6,466.91 and the Nasdaq Composite gained 396.22 points, or…
Read More