The Bank Nifty, which has lagged behind broader indices over the past few months, is showing signs of resurgence. A strong performance by HDFC Bank and Axis Bank, coupled with a mixed showing from Kotak Mahindra Bank, suggests the index could lift the markets in the coming sessions. Although rising deposit rates have put pressure … Read more
If you are planning to open a fixed deposit (FD) account, it is advisable to first compare the interest rates offered by different banks. Although depositors tend to opt for the bank with which they share a long-term relationship, they can still choose a bank that gives them a higher rate of interest on fixed … Read more
If you are planning to get a credit card, then it is important to note that there are plenty of them to go for. Some credit cards offer travel reward points, while a few are good if you love to dine outside. Few are good for the moviegoers, while others are good if you drive a … Read more
If you own a credit card, you can explore a number of offers given by banks. These include the offers at eateries and restaurants in your city and beyond. It is recommended to check these offers before they expire. These offers are given by the cards issued by almost all top banks such as HDFC Bank, ICICI Bank, Kotak … Read more
The Association of Mutual Funds in India (AMFI) recently laid out guidelines for front-running and fraudulent transactions. The AMFI’s move, which comes nearly a month after SEBI’s nudge in response to front-running allegations against Quant MF, is an attempt to tighten regulations for better transparency. Despite the market regulator’s proactive role, mutual fund investors are … Read more
Although the banking sector has lagged behind the Indian benchmark Nifty index over the past 6 to 12 months, it is well-positioned for substantial long-term growth, driven by India’s largely underbanked population. In 2024, the Nifty Bank index has risen over 8 percent year-to-date, trailing the benchmark Nifty’s almost 13 percent increase. Meanwhile, over the … Read more
Axis Bank will complete Citi’s credit card portfolio migration on July 15. While this is a major shift for Citi credit cardholders, Axis Bank has assured them that the transition will be smooth. In March 2023, Axis Bank acquired Citibank’s India consumer business for ₹11,603 crore. Here’s how the transition will change credit card transactions … Read more
Axis Bank and Piramal Finance have partnered to establish a co-lending business aimed at extending loans to underserved segments in India. This partnership aims to reach middle and low-income borrowers who lack access to traditional banking services, as well as to expand financial inclusion into rural and semi-urban areas beyond major cities. The newly established … Read more
Personal Loan Rates: Over the past few months several private lenders such as ICICI Bank, Kotak Mahindra Bank, HDFC Bank, and Axis Bank had increased interest rates on personal loans (PLs) after the Reserve Bank of India (RBI) had deemed them as riskier in November 2023, said a report by the Economic Times. Citing data … Read more
Indian stock market: The Indian stock market benchmark index Nifty 50 ended its five-session winning streak on Wednesday, June 19, due to profit-taking at higher levels. The Nifty 50 reached a new peak of 23,664 during the session but retreated from those levels to close down 42 points, or 0.18%, at 23,516. During the session, … Read more