New Delhi, Feb 25 (IANS) Early signs of revival are emerging in Indian markets, with the Nifty projected to reach 27,958 over the next 12 months under a base case scenario, a report said on Wednesday.The report from PL Capital said that a bullish scenario of a 20x forward earnings multiple implies upside toward 30,497, while a conservative bear case suggests 26,486 target for Nifty.The firm said that EPS growth is expected at 3.8 per cent, and medium‑term earnings trajectory remains strong wit…
Latest Banks News & Updates
Agartala, Feb 19 (IANS) Union Home Minister Amit Shah will inaugurate the Joint Regional Official Language Conference (Rajbhasha Sammelan) of the Eastern, North-Eastern and Northern regions of the country in Agartala on Friday, officials said here on Thursday. The Ministry of Home Affairs’ (MHA) Department of Official Language Secretary, Anshuli Arya, said that more than 3,000 senior officials, representatives and experts from Central government offices, public sector undertakings and banks from…
New Delhi, Feb 16 (IANS) UPI has emerged as the most preferred mode of payment, accounting for 57 per cent of total payment transactions in India, surpassing cash transactions at 38 per cent, primarily due to ease of use and instant fund transfer capability, according to an independent study commissioned by the Finance Ministry.Digital payments now dominate everyday transaction behaviour, with 65 per cent of UPI users reporting multiple digital transactions per day. Preference for UPI is particu…
Mumbai, Feb 12 (IANS) The Reserve Bank of India (RBI) has proposed a ban on incentives paid by third parties to bank staff for selling insurance, mutual funds and other products to curb the mis‑selling of financial products.Further, the central bank prohibited “dark patterns” on commercial banks’ user interfaces to lure customers into purchases.Dark pattern means “any practice or deceptive design pattern that is designed to trick users to do something they originally did not intend, by sub…
Hyderabad, Feb 6 (IANS) Hyderabad Police Commissioner V.C. Sajjanar has voiced concern over the threat posed by ‘Agentic AI’ and called for appropriate security measures, trust framework and governance to tackle it.The Police Commissioner, through a social media post on Friday, highlighted how autonomous, multi-agentic Artificial Intelligence (AI) systems act independently across critical sectors. According to him, the risks arise from both malicious exploitation and unintended autonomous be…
Mumbai, Feb 6 (IANS) RBI Governor Sanjay Malhotra announced on Friday that the RBI is drawing up fresh rules on compensation for customers of banks in case of small-value fraudulent transactions.The extant instructions on limiting the liability of customers in unauthorised electronic banking transactions were issued in 2017, which deal with scenarios and timelines for zero or limited liability of a customer. In view of the rapid adoption of technology in the banking sector and payments systems, …
Amaravati, Jan 23 (IANS) Andhra Pradesh Chief Minister N. Chandrababu Naidu on Friday asked banks to provide loans extensively to the renewable energy sector, saying the Central and state governments are giving top priority to the sector.Stating that power distribution companies (DISCOMs) are also providing counter-guarantees, he urged bankers to take the initiative in providing loans to the renewable energy sector.Presiding over the 233rd and 234th meetings of the State Level Bankers’ Committ…
New Delhi, Jan 22 (IANS) Assets under management (AUM) of non-banking financial companies (NBFCs) specialising in gold loans is set to register a compound annual growth rate (CAGR) of 40 per cent between this fiscal and next, surpassing Rs 4 lakh crore by March 2027, a Crisil Ratings report showed on Thursday.According to the report, the surge will be driven by elevated gold prices, a shift towards secured credit and an evolved regulatory environment, outpacing the CAGR of 27 per cent clocked be…
Mumbai, Jan 14 (IANS) The Reserve Bank of India (RBI) on Wednesday issued guidelines for the appointment and functioning of internal ombudsmen in banks and NBFCs, aimed at strengthening the mechanism for resolution of customer grievances.The RBI has issued separate directions for commercial banks, small finance banks, payments banks, non-banking financial companies, non-bank prepaid payment instrument issuers, and credit information companies to ensure specific clarity to each category.The direc…
Mumbai, Jan 12 (IANS) Indian stock exchanges will remain closed for trading on January 15 due to the municipal corporation elections in Maharashtra, according to announcements by both the BSE and NSE on Monday.The BSE said in a circular that there will be no trading in the equity segment, equity derivatives, commodity derivatives, and electronic gold receipts on that day.It also clarified that equity derivative contracts originally scheduled to expire on January 15, 2026, will now expire a day e…