Top Indian Banking Industry News & Updates - 15 Jan 2025,Wednesday
🗎 RBI / MoF / Govt. Policies
Regulatory norms under review to ease compliance
The finance ministry is assessing all financial regulators in the country and their respective regulatory frameworks to evaluate whether over-regulation is stifling economic activity. According to official sources, the ministry is preparing a draft paper, which will highlight the regulatory provisions that should be relaxed in order to support growth and encourage innovation.
RBI takes cautious approach to currency volatility
Mumbai: India's central bank will be more judicious in its use of foreign exchange reserves to mitigate domestic currency market volatility amid strong global headwinds, three sources aware of the development said. The Reserve Bank of India will continue to intervene as and when necessary to smoothen volatility, but won't go against the tide and massively intervene to protect any levels, the sources said, asking not to be named as the discussions are confidential.
📝 RBI reshuffles portfolios of the three Deputy Governors
📝 RBI Dy Guv Rao to head monetary policy as Patra term ends
📝 RBI to judiciously handle FX reserves amid headwinds, sources say
📝 RBI Governor Sanjay Malhotra signals he’s open to more flexible rupee
📝 RBI rate cut delay will lead to more growth sacrifice; must deliver 0.25% reduction in Feb review
📝 RBI looks to retain stance on rupee amid volatility
📝 Govt plans to pare stakes in 5 state-run banks including UCO
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🏦 PSB / Pvt Banks
Small Finance Banks’ credit growth to slow in FY25; profitability to face challenges
Mumbai: Small finance banks’ (SFBs) credit growth is expected to moderate in FY25 to 18-20 per cent from 24 per cent in FY24 in view of the industry-wide headwinds, specifically in the microfinance segment, according to ICRA. Further, higher credit costs will lead to a moderation in SFBs overall profitability in FY25.
Bank of Baroda launches ‘bob Liquid FD’ for enhanced liquidity and convenience
Mumbai: Bank of Baroda has introduced “bob Liquid Fixed Deposits” as an alternative to the traditional fixed deposit (FD), combining the benefits of FD interest rates with the convenience of easy liquidity associated with a Savings Account.
Banks added over ₹2 trillion more in deposits than loans in 2024
Mumbai : Banks in India added more deposits than loans last year, leading to a softening of the credit-deposit ratio, even as deposit growth failed to keep pace with advances, showed latest data from the Reserve Bank of India (RBI).
Impact of Trump's presidency to be short-lived on Indian rupee: SBI
📝 Bank FD rates keep rising as war for deposits not over yet
📝 Need liquidity infusion before a rate cut: Bankers
📝 PSU bank stocks rally up to 18%. What's the good news?
📝 Sebi issues warning to J&K Bank for delayed disclosure of MD appointment
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🏠 Housing Finance
Home First Finance stake sale: Norway Fund cuts holding to 5.41%
New Delhi: The government pension fund of Norway on Tuesday sold Home First Finance shares for ₹77 crore through an open market transaction. The Norwegian Pension Fund Global is one of the world’s largest funds. According to bulk deal data on the National Stock Exchange (NSE), Government Pension Fund Global offloaded 7.50 lakh shares, or 0.84 per cent of its stake in Mumbai-based HomeFirst Finance Company India.
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🔍 Rating / Research
📝 Ratings agencies see capex and fiscal control in Budget focus
📝 Small finance banks' growth to slow down to 18-20 % in FY2025: ICRA
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🗎 NBFCs / FIs / MFI
Moneyboxx Finance secures ₹1.32 billion debt capital, adds three new lenders
Moneyboxx Finance Limited, a BSE-listed NBFC, has raised ₹1.32 billion in debt capital during the third quarter of FY25, including ₹500 million from three new lending partners - Indian Overseas Bank, Bajaj Finserv Limited, and Nabkisan Finance Limited.
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UPIs / Wallet / FinTech
Spat over, BharatPe back on track for profitability and an IPO
Mumbai: Fintech lender BharatPe is aiming for its first full-year profitability thisfinancial year (2024-25) as it puts behind the yearslong acrimony with its high-profile former chief and prepares to enter the public markets.
📝 Fintechs see a minefield of costs, regulatory issues as DPDP looms
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🧔 Brokers / Distributors
Angel One appoints former Google Pay VP Ambarish Kenghe as Group CEO; posts 8.13% YoY profit growth for Q3
Angel One announced the appointment of Ambarish Kenghe as Group Chief Executive Officer, effective March 2025. Before this, he had a six-year stint at Google Pay.
HDFC securities Repositions Retail Research Division to HSL Prime Research; Devarsh Vakil Takes Charge as the New Head
Mumbai: HDFC securities Limited, (HSL) a leading stock broking firm and a subsidiary of HDFC Bank, is repositioning its Retail Research division to "HSL Prime Research." This strategic shift underscores the firm's commitment to enhancing its research capabilities and delivering premium insights to clients.
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🗠 Bourses
These 7 banking stocks can give more than 29% returns in 1 year, according to analysts
As we progress into the critical Q3 earnings season, one sector which needs to be watched carefully is banking.
📝 FPIs pare stake in Adani companies, DIIs raise holdings
📝 BSE shares surge 5% after Jefferies upgrades to hold rating, raises target price
📝 Sebi proposes mandatory dematerialisation of securities in case of stock split, consolidation
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🗠 Mutual Funds / AMCs
Pickup in consumption, capex key to earnings revival: ICICI Pru MF ED & CIO
Even as the equity market has corrected sharply in the past few months, the valuations in midcaps and smallcaps are concerning, according to SAnkaraN NAREN, executive director and chief investment officer of ICICI Prudential Mutual Fund. In an interview with Abhishek Kumar in Mumbai, Naren says investors should take a hybrid approach to navigate global uncertainties.
Edited excerpts:
📝 Budget 2025: Nirmala Sitharaman should think about utilizing frozen savings in gold, suggests Nilesh Shah
📝 Nifty down 12% from peak. Radhika Gupta on how to deal with three emotional responses
📝 HDFC AMC Q3 Results: Cons PAT jumps 31% YoY to Rs 641 crore, revenue up 39%
📝 Sandeep Tandon sees pullback in equity and currency market; expects short-term rebound
📝 Zerodha Fund House crosses Rs 4,000 crore of AUM within two years of being set up
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🗎 Equities, Pvt. Equity / Hedge Funds
Private equity AIFs deliver 21.5% IRR between FY13-24: Crisil-Oister report
New Delhi: Alternative Investment Funds (AIFs) focused on unlisted securities have delivered impressive returns, achieving a pooled internal rate of return (IRR) of 21.5 per cent between fiscal years 2013 and 2024, according to the Crisil-Oister report, 'No ifs about AIFs 2.0'.
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🗎 Govt. Securities / Bonds
Debt funds flock to state bonds
Domestic debt fund managers have increased their exposure to state development loans (SDLs), as they fetch them higher yields compared with central government bonds and corporate bonds, said debt fund managers. In fact, some are even swapping central government securities with these bonds. SDLs are bonds issued by state governments to fund their fiscal deficit.
📝 Tata Capital raises $400 million via bonds
📝 Vedanta Resources to raise $1-billion in dual tranche bonds
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✈ International
📝 Crypto Bank Sygnum hits 1b valuation
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