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Nearly two-thirds of bank loans now priced below 9% as rate cuts bite
Indian banks are offering more loans at lower interest rates. Almost two-thirds of all bank credit now has rates below 9%. This shift follows a year of aggressive rate cuts. While credit growth is strong, banks' profit margins face pressure. Metropolitan areas and public sector banks lead lending. Agriculture and industrial credit also accelerated. Personal loan growth moderated.
Nearly two-thirds of bank loans now priced below 9% as rate cuts bite
Indian banks are offering more loans at lower interest rates. Almost two-thirds of all bank credit now has rates below 9%. This shift follows a year of aggressive rate cuts. While credit growth is strong, banks' profit margins face pressure. Metropolitan areas and public sector banks lead lending. Agriculture and industrial credit also accelerated. Personal loan growth moderated.
Two out of every three bank loans in India carry interest rates below 9%
Indian banks are witnessing a significant shift as nearly two-thirds of credit now carries sub-9% interest rates, a consequence of aggressive RBI rate cuts. This trend, while fueling robust credit growth across sectors, is pressuring banks' net interest margins. The household sector continues to drive borrowing, with personal loans seeing a notable moderation.
Nifty Bank down 1%; Why SBI, ICICI Bank, Axis Bank, PNB shares fell today
Bank stocks fell on Monday, June 1, on rising oil prices and bond yields. Analysts, however, remain positive on the sector outlook on healthy credit growth outlook
Bajaj Auto posts 20% on-year growth in total vehicle sales at 4,61,257 units in May
Bajaj Auto announced strong sales figures for May. Total vehicle sales saw a 20 percent increase compared to last year. Domestic sales grew by 10 percent. Exports surged by 34 percent. Two-wheeler sales also climbed 18 percent. Commercial vehicle sales experienced a 30 percent jump. These positive results highlight robust performance for the auto maker.
Infosys, Tech Mahindra, TCS and other IT stocks jump up to 5%. What’s driving the rally?
Indian IT stocks rose sharply on Monday, lifting the Nifty IT index nearly 3%, as investors reassessed AI-related fears, attracted by attractive valuations and upbeat sector outlooks. Optimism around potential US rate cuts and positive technical signals further fuelled buying in Infosys, Tech Mahindra, TCS and other IT majors.
May Auto Sales: Bajaj Auto reports 20% growth led by exports, marginally below estimates
Bajaj Auto has also been in the news after announcing a buyback of equity shares, which it will be carrying out at a price of ₹12,000.
Bajaj Finserv Share Price Live Updates: Bajaj Finserv Price Update and Analysis
RBI likely to keep status quo on policy rate as threats loom
A majority of economists polled by ET predict the Reserve Bank of India will hold its policy rate steady at the upcoming June meeting. This decision comes amid concerns over geopolitical tensions and adverse weather forecasts, which threaten economic growth and could fuel inflation.
US-Iran talks, RBI's rate decision likely to steer markets this week
Developments around the USIran situation, crude oil prices, and the RBI's interest rate decision would determine the trend in the equity market in an event-heavy week ahead, analysts said. Besides, macroeconomic data announcements, trading activity of foreign investors and the rupee-dollar trend would act as key drivers for equities, they noted. "Participants will closely monitor global developments surrounding the USIran situation and movement in crude oil prices, which continue to remain critical for inflation expectations, currency stability, and foreign flows," Ajit Mishra SVP, Research, Religare Broking Ltd, said. The final HSBC Manufacturing PMI reading for May will be announced on Monday, followed by the Services PMI and Composite PMI data on Wednesday. These indicators will provide important insights into demand trends, business activity, and growth resilience across sectors, he said. "The key event of the week will be the RBI monetary policy announcement on Friday," Mishr
Mcap of 7 top valued firms erodes by ₹1.54 trn, Reliance takes biggest hit
The combined market valuation of seven of the top 10 valued firms eroded by Rs 1.54 lakh crore last week, with Reliance Industries taking the biggest hit. In a holiday-shortened last week, the BSE benchmark Sensex dropped 639.61 points, or 0.84 per cent, and the NSE Nifty declined 171.55 points, or 0.72 per cent. From the top 10 pack, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, Tata Consultancy Services (TCS), Bajaj Finance and Hindustan Unilever faced erosion in their valuations, while State Bank of India, Larsen & Toubro and Life Insurance Corporation of India (LIC) were the gainers. The market valuation of Reliance Industries dropped by Rs 46,078.3 crore to Rs 17,87,039.40 crore. HDFC Bank's valuation eroded by Rs 33,333.06 crore to Rs 11,46,641.84 crore. The valuation of Bharti Airtel tumbled Rs 25,408.96 crore to Rs 11,14,886.53 crore and that of TCS dived Rs 22,920.58 crore to Rs 8,15,480.75 crore. The market capitalisation (mcap) of Hindustan Unilever ...
Bond market at a turning point! Axis Mutual Fund says bond investors should buy, not panic
Axis MF cautions that aggressive rate hikes won't address INR depreciation and may harm India's growth. They recommend a neutral-to-slightly long duration stance over three months, adjusting based on RBI policy and crude prices, while advising gradual exposure to fixed-income assets.