Apart from home loans, credit cards, non-food bank credit, industries and agricultural activity loans saw a year-on-year growth in May 2024. However, the personal loan segment growth has moderated.
The apex bank said gold reserves increased by USD 988 million to USD 56.956 billion during the week. The Special Drawing Rights were down by USD 57 million to USD 18.049 billion.
Despite the overall positive trend, 11 of the 30 Sensex shares traded down, with notable losers including UltraTech Cements, Adani Ports, IndusInd Bank, Maruti, and Axis Bank. The market remains robust, but elevated valuations and a weak broader market trend suggest caution.
President Murmu expressed confidence in her government's decade-long track record, reinforced by a third consecutive term mandate. Her speech outlines ambitious economic and social policies, setting the agenda for future parliamentary sessions focused on advancing national development goals.
Benchmark indices experienced a downturn in early trade on Thursday due to weak trends in Asian markets and foreign fund outflows. The BSE Sensex declined by 149.41 points after hitting a new all-time high, while the Nifty dipped by 47.45 points.
Yes Bank is reportedly aiming to reduce expenses by focusing on digital banking and minimizing manual processes. The ongoing restructuring initiative is also expected to contribute to lowering the bank's operational costs.
The 30-share BSE Sensex climbed 620.73 points or 0.80 per cent to settle at a new closing peak of 78,674.25. Meanwhile, The Nifty went up by 147.50 points or 0.62 per cent to settle at a record closing peak of 23,868.80.
As July approaches, prepare for significant financial changes impacting credit cards, Paytm wallets, and income tax filings. Key updates include Paytm closing inactive wallets on July 20, 2024, SBI Card ending reward points on government transactions, and ICICI Bank adjusting credit card fees.
The Sensex reached a new all-time high in early trade on Wednesday, climbing 134.64 points to 78,188.16, while the Nifty rose 28.2 points to 23,749.50. However, both indices later faced volatility and traded flat amid profit-taking.
The Indian stock market showed signs of recovery on Tuesday as the Sensex surged by 237.05 points to reach 77,578.13, while the Nifty also rose by 65.8 points, reaching 23,603.65 during early trade.
For FY24, the current account deficit narrowed to USD 23.2 billion or 0.7 per cent of GDP against USD 67 billion or 2 per cent of GDP in FY23, the RBI said in a release on the Developments in India's Balance of Payments.
Ahead of the budget, trade union leaders met Union Finance Minister Nirmala Sitharaman and made several key demands. The unions also asked the government to stop the privatisation drive of PSUs, scrap the new pension scheme. Bharatiya Mazdoor Sangh submitted a memorandum with its demand separately.
Bank Holidays in July 2024: All public and private banks in India will be closed for at least 12 days in July 2024.
The fund house, with assets exceeding Rs 93,000 crore, affirmed its commitment to regulatory compliance and promised to provide all necessary support to Sebi. It aims to maintain investor trust while continuing to deliver superior risk-adjusted returns.
Analysts expect the market to consolidate at higher levels, with budget-related sectors drawing attention. Global markets showed mixed performance, and oil prices continued to decline.
Currently, Canara Bank's official account (@canarabank) has 2.55 lakh followers. However, the bank has yet to take action in response.
GST council meeting: In another taxpayer-friendly measure, the GST Council has decided to introduce Form GSTR 1A to enable taxpayers to add information they have missed when filing Form GSTR 1.
Nirmala Sitharaman chaired the GST Council meeting on Saturday and made big announcements at a press conference. She listed out what will become cheaper.
According to information posted by IGL on its website, CNG price was hiked from Rs 74.09 to Rs 75.09 per kg, while in Noida, Greater Noida and Ghaziabad the rate went up from Rs 78.70 to Rs 79.70 per kg.
Union Finance Minister Nirmala Sitharaman has been holding pre-budget consultation meetings with various stakeholders, economists and experts since June 19. The upcoming budget is the first budget of Modi government after winning the third term.
Top News
Latest News
