Surplus liquidity effect: Banks seek to park ₹1.03-lakh crore with RBI

The banking system had surplus liquidity of ₹1,15,316 crore as on April 16, and RBI is trying to suck out this via VRRR in keeping with its “withdrawal of accommodation” monetary policy stance. The central bank accepted offers amounting to ₹75,027 crore at a weighted average rate of 6.49 per cent. In his April 2024 monetary policy statement, RBI Governor Shaktikanta Das said: “Looking ahead, the Reserve Bank will remain nimble and flexible in its liquidity management through main and fine-tuning operations in both repo and reverse repo.

Bandhan Bank shares advance 1% after hitting lows in previous session
Shares of Bandhan Bank advanced over 1 per cent on Thursday (April 18) after hitting lower circuit in the previous session. Bandhan Bank shares are trading 2.05 points, or 1.18 per cent higher at 175.90. During the intraday session, the bank’s shares hit high at 176.40 while the lowest range was hit at 174.60.

CASA ratio shows rising trend in Q4
After witnessing a decline in the current account-savings account (CASA) ratio over the past couple of quarters, several banks have started to witness improvement in these low-cost deposits in the fourth quarter. According to the provisional figures released recently, HDFC Bank, Punjab National Bank, Yes Bank, Bank of Maharashtra, RBL Bank have improved CASA ratio in the fourth quarter.

Universal bank licences: Here are key changes in licensing criterion
Exactly 10 years ago in April 2014, the Reserve Bank of India (RBI) awarded universal banking licences to two entities, namely Bandhan Financial Services and IDFC. No new universal banking licence has been given since. While four applications have been rejected, one is under consideration.

RBI imposes Rs 60.3 lakh penalty on five co-operative banks
RBI imposes monetary penalty of ₹60.30 lakh on five co-operative banks. Details here
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Panic-struck FPIs ramp up bearish futures bets overnight
Mumbai: Foreign institutional investors (FIIs) in Indian markets seem to have pressed the panic button.

ICICI Securities net doubles in Q4
Chennai: ICICI Securities, soon-to-be-delisted, has reported a 104-per cent year-on-year rise in consolidated net profit for the quarter ended March 2024. Its net zoomed to ₹535.35 crore for March 2024 crore as against ₹261.95 crore reported in year-ago comparable period. Total revenues rose 74 per cent to ₹1,542.85 crore (₹884.69 crore).

Strategies for fintech companies to thrive amidst RBI’s reshaping of the credit card landscape
The Indian credit card market has seen a paradigm shift over the years, with fintech firms leading the way in driving digitization, innovation, and democratizing access to financial services. Capitalizing on the emergence of new age technologies, the rapidly growing fintech firms are transforming traditional banking by catering to a heterogeneous population and addressing their most prominent concerns. 

Why Angel One needs to look beyond the broking business
Angel One Ltd's mainstay is its broking business, accounting for almost 70% of its total revenue. But is that enough?

NSE to launch monthly futures and options contracts on Nifty Next 50 from April 24
Chennai: The National Stock Exchange of India on Thursday said that it will launch monthly futures and options (F&O) contracts on Nifty Next 50, widely known as Junior Nifty, from April 24. The leading equity derivatives bourse has received approval from the Securities and Exchange Board of India for the launch. The exchange will offer three serial monthly index futures and index options contract cycles. The cash-settled derivatives contracts will expire on the last Friday of the expiry month.

Best mutual funds: These 7 large cap schemes beat the benchmark in past 1, 3 and 5 years
When a retail investor opts for a mutual fund scheme, they tend to give a considerable priority to the returns delivered by the scheme vis-à-vis other schemes in the category.

Passive funds lose charm amid falling returns
ET Intelligence group: Investors’ interest in passive products has waned over the past year due to lower returns amid regulatory changes after showing a strong traction in the previous year. The 12-month cumulative flow in the passive funds dropped to a 33-month low of Rs 49,846 crore in March 2024, the data from the Association of Mutual Funds in India (AMFI) showed. The sample includes exchanged traded funds (ETFs) and index funds. The inflow was Rs 1,55,197 crore in the year-ago month.The peak cumulative flow in the passive funds was Rs 1.6 lakh crore in October 2022. In March 2024, passive funds attracted an inflow of Rs 3,644 crore, half of the last one-year average.

Carnelian AMC plans $250 mn offshore fund from GIFT City, says founder Khemani
Carnelian Asset Management and Advisors plans to float a $250 million offshore fund from GIFT City in Gujarat to tap offshore clients who are keen to invest and ride on India’s exponential growth during the transformative period of  Amritkaal, its founder Vikas Khemani has said.

Fundraising through bond placement hit all-time high at Rs 9.98 trn in FY24
Prime Database Group Managing Director Pranav Haldea attributed the upswing to a surge in credit demand fuelled by strong economic growth.