Sachin Kumar
Deputy Editor, Banking at Financial Express
Journalist- heading banking coverage in Financial Express. Telling stories on banking and finance.
Articles
-
1 week ago |
financialexpress.com | Sachin Kumar
ICICI Bank, the second-largest private sector lender, on Wednesday reduced interest rates on its savings accounts by 25 basis points (bps), following the similar moves by HDFC Bank and Axis Bank. Savings account balances of up to Rs 50 lakh will now earn 2.75%, down from 3%. For balances above Rs 50 lakh, the interest rate has been cut to 3.25% from 3.5%.
-
1 week ago |
financialexpress.com | Sachin Kumar
Mutual funds have cut their exposure to IndusInd Bank to 27.55% in the January-March quarter, from 30.31% in the October-December quarter. Promoter shareholding, too, saw a marginal decline to 15.83% from 16.29%, according to the latest shareholding data on the BSE. However, individual investors and foreign portfolio investors (FPIs) have increased their stake by 1.13% and 4.79%, respectively, during the latest quarter.
-
1 week ago |
financialexpress.com | Sachin Kumar
IndusInd Bank faces a Rs 1,979 crore hit from discrepancies in its derivative portfolio, according to a report submitted by an external agency on Tuesday. The impact represents 2.27% of the bank’s net worth as of December 2024, slightly below the 2.35% it had previously estimated. The amount disclosed by the external agency is more than bank’s net profit of Rs 1401.3 crore in the October-December quarter.
-
1 week ago |
financialexpress.com | Sachin Kumar
State Bank of India, Bank of India and Bank of Maharashtra have decided to cut lending rates by 25 basis points (bps) from today, making loans cheaper for both existing and new borrowers, following the Reserve Bank of India’s (RBI) decision to lower the repo rate last week. With the latest round of reduction, the Repo Linked Lending Rate of SBI would come down to 8.25 %. It has also reduced the External Benchmark Based Lending Rate (EBLR) by same margin to 8.65 %.
-
1 week ago |
financialexpress.com | Sachin Kumar
Banks are likely to witness a spike in bad loans in the fourth quarter, driven by rising delinquencies in the unsecured and microfinance segments. Slowing credit growth, tight liquidity and elevated deposit rates are expected to squeeze net interest margins. Banks are also expected to see a decline in low-cost current and savings account (CASA) ratios.
Try JournoFinder For Free
Search and contact over 1M+ journalist profiles, browse 100M+ articles, and unlock powerful PR tools.
Start Your 7-Day Free Trial →X (formerly Twitter)
- Followers
- 425
- Tweets
- 313
- DMs Open
- Yes
A month ago, I wrote that the RBI's 50 bps CRR cut might not be enough to ease liquidity tightness. Yesterday, the RBI conducted its largest VRR auction in a year to inject cash, confirming my earlier assessment. Read my today’s story for deeper insights https://t.co/OW2ls0dL7t
Public sector bankers face perquisite tax, my story in today’s edition @idesibanda @Bankers_We @TheBankersVoice https://t.co/i4rvGutMnn
Despite pressure to cut interest rates, Mr Das stayed focused on what was best for the economy. @RBI @DasShaktikanta #RBIGovernor #RBI #banks @RBIsays https://t.co/x0gxTFYbkq