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Uday Kotak loses ₹10,225 crore in a day as Kotak Mahindra Bank share price tanks 11%
Mint - As market cap fell making shareholders poorer by ₹39,768.36 crore, Uday Kotak holding a 29.71 per cent stake also lost ₹10,225 crore in a day. Read more
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What is Food Credit and Non Food Credit?
April 08 What is Non food credit? Non-Food Credit is used to measure how much bank lending is going to sectors other than government food procurement operations. It is an important indicator of real economic activity and private sector demand for loans. Non-Food Credit : Non-Food Credit = Total bank credit – Food credit It refers to loans given by banks to sectors like: Industry Services Agriculture Retail / Personal loans MSMEs Infrastructure Trade and commerce Non-Food...
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FREE Credit Card का सच!
October 25
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What is Deposit Insurance? No worries on bank collapse!
October 10
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What are unclaimed deposits with Banks?
September 24 What Are Unclaimed Bank Deposits? Unclaimed deposits are balances lying in savings accounts, fixed deposits, recurring deposits, or other bank accounts that have had no customer activity for 10 years or more. After this period, banks are required to transfer these amounts to the Depositor Education and Awareness Fund (DEAF), maintained by the Reserve Bank of India (RBI). Importantly, these deposits are not forfeited. Depositors or their legal heirs can still claim the money at any time through the bank, which then seeks...
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How Allotment of Shares Works in an IPO?
September 07 Key Steps in the Allotment Process Setting a price band : The issuer sets a price band (with the cap price at least 5% above the floor, up to a maximum 20% premium). Investors place bids within this band during the bidding window. Once the window closes, the cut-off price is finalized—it's the highest price at which the entire issue is fully subscribed. Determining Eligibility: Only bids at or above the cut-off price qualify for allotment. Retail investors (those applying for up to ₹2 lakh worth of shares) have an...
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What is the Cheque Truncation System (CTS)?
August 22 WHAT? The Cheque Truncation System (CTS) is a process introduced by the Reserve Bank of India (RBI) to streamline and expedite cheque clearing by replacing the physical movement of cheques with digital images and electronic data. It enhances efficiency, reduces costs, and minimizes risks associated with traditional cheque processing. CTS is an electronic cheque-clearing system where the physical cheque is "truncated" (stopped) at the presenting bank, and its digital image, along with relevant data (e.g.,...
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What is a Forward Rate Agreement (FRA)?
August 13 WHAT? A Forward Rate Agreement (FRA) is a financial contract between two parties to lock in an interest rate for a future period, used primarily to hedge against or speculate on interest rate fluctuations. It is an over-the-counter (OTC) derivative instrument, meaning it is customized and not traded on exchanges. An FRA is an agreement to exchange a fixed interest rate for a floating interest rate (based on a reference rate like MIBOR in India or SOFR globally) on a notional amount for a specified future period. It is...
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Why do the banks demand a minimum balance in the bank account?
August 09 CONTEXT ICICI Bank hikes minimum account balance for urban areas to ₹50,000. But why is minimum balance required? Banks often require a minimum balance or deposit as part of opening and maintaining an account, though the terms can sometimes overlap. A minimum opening deposit is the initial amount (typically ₹2000-₹10,000) needed to fund and activate a new account, while a minimum balance refers to an ongoing requirement to keep a certain amount in the account to avoid fees or penalties. KEY...
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What is NARCL, a government bad bank?
August 04 WHAT? The National Asset Reconstruction Company Limited (NARCL), often referred to as India’s “bad bank,” was established to address the issue of non-performing assets (NPAs) in the Indian banking system. It was announced in the Union Budget 2021–22 and incorporated on July 7, 2021, under the Companies Act, 2013, with registration as an Asset Reconstruction Company (ARC) under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act,...
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What is RBI's Financial Inclusion Index (FI-Index)?
July 23 WHAT? The Reserve Bank of India (RBI) publishes the Financial Inclusion Index (FI-Index) annually to measure the extent of financial inclusion across India. Financial inclusion means including more and more people in the formal banking network. The FI-Index is a comprehensive metric that quantifies financial inclusion on a scale from 0 (complete financial exclusion) to 100 (full financial inclusion). It incorporates 97 indicators across banking, investments, insurance, postal, and pension sectors, developed in...
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