Times News Network
BANK OF BARODA on Friday increased the marginal cost of funds-based lending rates (MCLR) by 10 to 20 basis points across tenures, effective June 12. With this increase, the bank’s one-year MCLR now stands at 7.50%, according to information on the lender’s website. So far, ICICI Bank increased the marginal cost of funds-based lending rates … Read More “Bank of Baroda hikes MCLR by 10-20 bps” »
The government on Wednesday announced a 5-9% increase in minimum aid prices (MSPs) for summer-sown crops in the 2022-23 season. These rates, the highest since 2018-19, were still lower than expected, given the large increase in the prices of various agricultural inputs – from seeds and fertilizers to electricity and transport. The Cabinet Committee on … Read More “Minimum aid prices: Moderate increase in MSPs due to inflation concerns” »
By Shashank Didmishe With the end of June deadline for the mandatory card-on-file tokenization system fast approaching, bankers are concerned that the payment ecosystem as well as most of the merchants are unprepared for the new regime. Given that a significant amount of transactions take place via cards, they fear that this may result in … Read More “The payment ecosystem is not quite ready for tokenization” »
Reading Naushad Forbes’ book The Struggle and the Promise, several cartoons by RK Lakshman and small quotes from PG Wodehouse’s works come as a surprise in a book on economics. It is clear that the author has an amazing sense of humor that is expressed through the book, which otherwise provides a purely capitalist view … Read More “Capitalistspeak | Book Review – The Struggle and the Promise: Restoring India’s Potential by Naushad Forbes” »
A few months back, veteran banker KV Kamath declared that the Indian banking industry is in the best shape for the last 50 years in terms of asset quality and capital adequacy. But the stock markets hardly reflect the optimism. The Bank Nifty index has been corrected by 12 per cent. in the last six … Read More “Are these shares still ‘bankable’?” »
Indian stock markets are likely to open with a positive tone on Monday as SGX Nifty before the session was up with gains, suggesting a gap-up start for benchmark index BSE Sensex, NSE Nifty 50. Global signals were positive in the early hours of trading . “Markets suffered a roller coaster ride last week as … Read More “Tech Mahindra, Ambuja Cements, Maruti Suzuki, Eicher Motors, DMart, Nazara Technologies shares in focus” »
After plunging 1,255 points on Thursday, BSE Bankex lost further ground on Friday as it fell 498 points, wiping out a total market value of Rs 1.1 trillion. The shift on Friday began after the State Bank of India’s SBI’s net profit of Rs 9,113.53 crore for Q4FY22 missed Bloomberg’s estimates of Rs 10,180 crore. … Read More “Modest earnings and unanswered estimates: SBI figures lower BSE Bankex” »
Bank of Baroda reported on Friday a net profit of Rs 1,778.77 for the quarter ending March 2022, against a net loss of Rs 1,046.50 a year ago. The lender reported strong growth in net interest income (NII). NII grew 21.18% year-on-year to Rs 8,611.67 crore, from Rs 7,106.62 crore in the same period last … Read More “Bank of Baroda has a profit of Rs 1,779 cr in the March quarter” »
Man about town PVR Rao: ‘The unwilling suitor’ in Mumias revival union Friday April 15 2022 Mumias Sugar receiver-manager Ponangipalli Venkata Ramana Rao during a May 2020 briefing. FILE PHOTO | NMG By SAM KIPLAGATMore by this Author Summary The name Ponangipalli Venkata Ramana Rao had become synonymous with ailing miller Mumias Sugar Company. Soon … Read More “PVR Rao: ‘The unwilling suitor’ in Mumias revival union” »
Credit and Finance for MSMEs: Bank of Baroda said the program will bring together fintechs, financial service providers, innovators and subject matter experts to code prototype solutions in real-time to the problems identified. Credit and Finance for MSMEs: Public sector lender Bank of Baroda on Wednesday announced it has partnered with the Reserve Bank of … Read More “Bank of Baroda, RBI’s Innovation Hub to boost financial inclusion for millions of women entrepreneurs, others” »
