Banking & Finance

Broking firm Nomura said that net interest margins (NIM) could see pressure over the next two to three quarters as HDFC Ltd's Q2FY24 opening book NIMs are at 2 per cent versus 2.7 per cent in Q1.

The outlook for the global economy remains ambivalent, driven by a dichotomy in macroeconomic conditions across regions, the article on 'State of the Economy' stated.

In the digital age, access to credit through digital lending apps can be a boon, but it also comes with risks. To protect yourself from illegal digital lending apps, it is essential to be vigilant.

Failing to comply with the direction, regulated entities (REs) would compensate the borrower at the rate of Rs 5,000 for each day of delay, RBI said in a notification.

The RBI said 25% of the amount of I-CRR maintained by banks will be released on Saturday and another 25% on September 23.

The central bank has been mandated by the government to keep inflation at 4 per cent with a margin of 2 per cent on either side.

As an interim arrangement, Dipak Gupta, the joint managing director, will carry out the duties of MD and CEO until December 31.

He has ceased to be the Managing Director & CEO of the bank, with effect from September 1, 2023, on account of his resignation considered at the bank's board meeting held on Saturday.

Jio Financial Services’s entry into financial services can cause a potential disruption in the market but the new entrant will have to get several things right to become a formidable player.

According to RBI, Axis Bank had the fastest MoM growth in the number of cards issued at 1.8%. However, per-card spending grew 2.6% MoM, which was lower than the sector's 4%.