Small finance banks (SFBs) are projected to experience slower growth of 18-20% in FY2025, down from 24% in FY2024, due to rising delinquencies and asset quality issues. The GNPA ratio in the microfinance segment is expected to increase, and funding pressures with higher deposit competition may affect profitability.
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Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, crashed in trade on Monday morning. While BSE Sensex went below 76,600, Nifty50 was near 23,200.
India's e-commerce scene is transforming. Quick commerce and online retailers are merging services. Established players like Flipkart and Amazon are exploring 10-minute deliveries. Swiggy, Blinkit, and Zepto are expanding their product range. They now offer larger items like appliances. Companies are increasing warehouse sizes to accommodate this shift. This competition is changing how Indians shop.
SEBI updates rules for credit rating agencies, switching to 'working days' for compliance deadlines. The new guidelines require press releases within seven working days, adjust timelines for delays in debt servicing, and mandate faster tagging of 'issuer not cooperating' and debt servicing confirmation.
Haldiram's has sold stakes to International Holding Company (IHC) and Alpha Wave Global amid global expansion plans, particularly targeting the US and Middle Eastern markets. The investment is part of an equity round, valuing Haldiram's at around USD 10 billion. This move aims to bolster their market presence and product offerings internationally.
Russian oil exports to India have dropped 25% in February amid sanctions, while US shipments surged nearly 100%. The overall Middle East exports to India for February might be lower than the initial 20-day average, as loadings typically decrease in the latter half of each month.
Godrej Enterprises Group is investing in digital and AI to enhance their consumer-facing businesses, which contribute 60% to their revenues. The group is undergoing a digital transformation, aiming to gain customer insights and combat market competition, with a digital transformation budget of Rs 1,200 crore spread across three years.
Finance Minister Nirmala Sitharaman is set to present the first full Union Budget of the Modi 3.0 government on February 1, 2025. This will be her eighth consecutive budget, bringing her closer to Morarji Desai's record of ten. The budget aims to stimulate economic growth and provide relief to the middle class.
Banks will be closed in Gujarat, Mizoram, Maharashtra, Karnataka, Madhya Pradesh, Tamil Nadu, Rajasthan, Uttar Pradesh, West Bengal, New Delhi, Chhattisgarh, and Jharkhand on April 10, 2025.
The US Federal Reserve could cut rates three or four times this year if inflation data cooperates, with a first cut possible before July, a senior bank official said Thursday. Asked about the timing of cuts, Waller said if the data came in as he expected, it was "reasonable" to think rate cuts could come in the first half of the year.
India's net direct tax collections for the fiscal year have increased by 13.13% to over Rs 21.26 lakh crore, driven by higher advance tax collections. Corporate tax collections rose by 12.54%, while non-corporate tax collections, including personal income tax, surged by 20.47%. Meanwhile, the Securities Transaction Tax (STT) saw a nearly 56% increase.