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Move to ease liquidity concerns; set to begin with Rs 50,000 crore
HDFC Bank, SBI, ICICI Bank share price target: Macquarie raises share target price of HDFC Bank, ICICI Bank, SBI, cut IndusInd Bank share price target
The best of Business Standard's opinion pieces for today, curated for you
Employee attrition in private sector banks has witnessed an increase to about 25 per cent and this high turnover rate poses significant operational risk, according to the latest Report on Trend and Progress of Banking in India 2023-24. Employee attrition rates are high across select private sector banks and small finance banks (SFBs), the report, which was released by the Reserve Bank of India (RBI) said. The total number of employees of private banks surpassed that of public sector banks (PSBs) during 2023-24, but their attrition has increased sharply over the last three years, with average attrition rate of around 25 per cent, it said. "High attrition and employee turnover rate pose significant operational risks, including disruption in customer services, besides leading to loss of institutional knowledge and increased recruitment costs. In various interactions with banks, the Reserve Bank has stressed that reducing attrition is not just a human resource function but a strategic .
While there is speculation about what Malhotra's first move will be amid slowing growth and elevated inflation, let's take a look at the rate actions of the previous four RBI governors
Markets Highlights: Broader markets outperformed the benchmarks indices on Friday after the RBI left key rates unchanged and announced a 50 bps cut in CRR, while lowering its GDP forecast
RBI Monetary Policy Meeting Dec 2024 Updates: Catch all the updates here
RBI Monetary Policy Committee answers queries on growth forecasts, liquidity, cash demand, and CRR adjustment
RBI maintains the status quo on repo rate but cuts CRR by 50 bps what does it mean for the markets? Experts decode
RBI governor Shaktikanta Das said that the CRR reduction will release Rs 1.16 trillion into the banking system, providing additional liquidity and enable banks to extend more loans
"A steady rate ensures consistent repayment terms, which increases the confidence of homebuyers," said Manju Yagnik, vice chairperson of Nahar Group and senior vice president of NAREDCO Maharashtra
Interest rates likely to stay the same for now, but lenders may still adjust terms based on their considerations
The RBI Governor Shaktikanta Das in his MPC announcement said that factors like frequent weather disruptions, geopolitical tensions, and financial market volatility pose significant risks to inflation
Reserve Bank of India Monetary Policy Committee: Food prices likely to keep headline inflation up in the near future
The RBI is expected to revise its growth forecast for the financial year 2024-25 following low Q2 GDP figures
The preceding week ended on a positive note for equity benchmarks. On Friday, the BSE Sensex surged 0.96 per cent to close at 79,802.79, while Nifty also gained 0.91 per cent to settle at 24,131.10
Trading sentiment in the equity market this week will be guided by global trends, foreign fund movement, macroeconomic data announcements and RBI's interest rate decision, analysts said. The monthly auto sales data announcement would also be tracked by investors this week. "Looking ahead, markets are likely to react to the disappointing GDP growth of 5.4 pc on Monday. The upcoming RBI policy will be crucial, with both the interest rate decision and commentary being key focus areas. "On the global front, geopolitical tensions, particularly the Russia-Ukraine situation, remains a concern. Important macroeconomic data such as manufacturing PMI from India, the US, and China, along with US jobs data and Fed Chair Jerome Powell's speech, will also influence market sentiment," Santosh Meena, Head of Research, Swastika Investmart Ltd, said. India's economic growth slowed to near two-year low of 5.4 per cent in the July-September quarter of this fiscal due to poor performance of manufacturi
There is growing evidence of liquidity tightening in the US, Wood said, which raises a near-term risk to equities