Bank deposits in metro cities have increased to 53.2% in March 2025, while their share in bank credit has decreased. This shift is driven by a growing preference for personal loans and the movement of capital to semi-urban areas. Personal loans have seen significant growth, with housing loans becoming more affordable.
Related news
Ola Electric's stock experienced a slight increase of 1.07% to Rs 49.86 amidst the aftermath of Hyundai and Kia's stake sale. The automakers divested their remaining shares for Rs 690 crore, with Citigroup acquiring a significant portion. This transaction occurred alongside Ola Electric's reported net loss of Rs 870 crore in the March quarter.
T Rabi Sankar, RBI Deputy Governor, has been appointed as a part-time member of the 16th Finance Commission, replacing Ajay Narayan Jha. Sankar's term will last until the Commission submits its report or October 31, 2025. The Commission, chaired by Arvind Panagariya, is responsible for recommending the distribution of tax revenues between the Union and the States.
Indian equities experienced a significant surge in May, propelled by strong performances in defence stocks and microcaps. The Nifty 50 rose by 1.71%, while the Nifty Microcap 250 soared by 12.10%. Investor optimism was further fueled in June by a surprise rate cut from the RBI, boosting rate-sensitive sectors.
Ola Electric's stock prices plunged following the release of disappointing quarterly results. The electric vehicle company reported a substantial net loss for the fourth quarter and the full financial year. Revenue from operations also experienced a sharp decline. Despite these challenges, Ola Electric expresses optimism about achieving profitability in the coming financial year.
The Central Consumer Protection Authority (CCPA) has mandated e-commerce platforms in India to conduct self-audits within three months to detect and eliminate deceptive "dark patterns." This initiative aims to protect consumers from manipulative interface designs that lead to unintended actions. Platforms are also encouraged to submit self-declarations confirming compliance with anti-dark-pattern norms to foster transparency and build consumer trust.
T Rabi Sankar, Deputy Governor of the Reserve Bank of India, has been appointed as a part-time member of the 16th Finance Commission, according to the Finance Ministry. This appointment follows the resignation of Ajay Narayan Jha, a full-time member, due to personal reasons. Sankar will serve until the Commission submits its report or until October 31, 2025.
Starting July 2025, the GST Network will time-bar GST returns after three years from the due date, impacting filings like GSTR-1 and GSTR-3B. Implemented from August 2025, this measure, stemming from the Finance Act, 2023, aims to improve compliance and clear backlogs.
India's engineering exports face significant headwinds as the US prepares to impose a 50% tariff on steel and aluminium imports, effective June 4, 2025. This move, doubling existing duties, threatens approximately $5 billion in annual exports, prompting concerns from the EEPC and AAI.
Central Depository Services Limited (CDSL) shares are recovering remarkably. The stock rose 60.4% from its March low. It reached a high of Rs 1,680 on Monday.
Mohandas Pai warns that Indian startups are struggling due to limited domestic investment, restrictive regulations, and a challenging business culture. He advocates for urgent policy reforms, increased R&D funding, and enabling insurance and pension fund investments to boost the ecosystem. Pai also urges a shift in mindset to support startups and ensure timely payments from larger companies.