The NCDs are rated A+/Stable from both India Ratings and CRISIL Ratings. Axis Bank and Trust Investment Advisors Private are the arrangers for the issue which opens on September 30, 2024, with a tenor of 3 years, 11 months, and 7 days.
Posts in category Economic Times
Hot Stocks: 3 stocks that may give returns between 13-29% (01-10-2024)
A look at some of the latest stock recommendations by analysts. These stocks are expected to return between 13% and 29% as per analysts’ price targets.
RBI warns of ‘yellow fever’ outbreak (01-10-2024)
The RBI warns of supervisory action if banks do not rectify irregularities in gold loan practices within three months. The gold loan sector has seen rapid growth, necessitating enhanced controls and transparency, particularly concerning third-party involvement and potential misuse in valuation and loan disbursement.
Kotak Mahindra aiming to be no 3 private bank by profit, says bank’s MD & CEO Ashok Vaswani (01-10-2024)
Kotak Mahindra Bank, led by CEO Ashok Vaswani, aims to become the third-largest private lender in India by 2030. The bank is open to acquisitions and plans to use technology and operations scaling to achieve its goal. Vaswani is the first non-promoter CEO, following the tenure of founder Uday Kotak.
Rs 86,000 crore FPI inflows in July-Sept, highest since Dec 2020 quarter (30-09-2024)
Flows from foreign funds into Indian equities were moderate in the first-half of 2024 on concerns over rich valuations and tight monetary policy in the US. With the dollar weakening following the rate cut in the US and India’s weight on global indices increasing, foreigners have increased their local holdings.
We want to scale for relevance, either organically or inorganically, says Ashok Vaswani, Kotak Mahindra Bank’s MD & CEO (30-09-2024)
Kotak Mahindra Bank is heavily investing in technology to meet RBI expectations and enhance competitiveness. CEO Ashok Vaswani aims for the bank to become a top three private sector player by 2030. The bank will look at both organic and inorganic growth opportunities, focusing especially on technology and profitable growth.
WACR 18 bps higher than repo rate despite surplus liquidity (30-09-2024)
On Monday, the weighted average call rate rose to 6.68%, exceeding the Reserve Bank of India’s 6.50% repo rate, due to uneven liquidity distribution in the banking system. Public sector banks faced a shortfall, despite an overall liquidity surplus of Rs. 79,806 crore.
Returns on life insurance policies to drop as new surrender rules kick in (30-09-2024)
Policyholders of traditional life insurance will see reduced returns due to new guaranteed surrender value rules starting October 1. Non-participating policyholders will face a 0.3-0.5% drop in returns, while participating policies will experience decreased bonus payouts over time. These changes align with falling government bond rates.
Rupee drops 9 paise to 83.79 per US dollar (30-09-2024)
The rupee weakened to 83.79 per US dollar due to foreign investor outflows amid declining Indian equities. Intervention by the Reserve Bank of India limited further depreciation. Boosted by recent economic measures, Chinese stocks gained over 8%, drawing investor interest away from Indian markets.
Trai seeks views on forming digital radio broadcast policy (30-09-2024)
The Telecom Regulatory Authority of India (Trai) seeks opinions on how current FM radio broadcasters should shift to digital radio, aiming to create a digital radio broadcast policy. Trai requires written comments by October 28 and counter comments by November 11.