Bank NIFTY hits fresh record high, crosses 52,900 mark; private lenders lead
The rally in Bank NIFTY was in line with benchmark indices, with the BSE Sensex and NSE Nifty touching their respective new highs today.
The rally in Bank NIFTY was in line with benchmark indices, with the BSE Sensex and NSE Nifty touching their respective new highs today.
Rising competitive intensity for both assets and liabilities amid growing regulatory scrutiny indicate a new chapter in Indian banking, says Rahul Jain, head of India equity research, Goldman Sachs
Among the 30 constituents of Sensex, barring ITC, ICICI Bank, Kotak Bank, Bajaj Finance, and HDFC Bank, all heavyweights ended in negative terrain.
The central bank received 501.86 complaints per branch against Paytm Payments Bank between April 1, 2022, and March 31, 2023.
The rate-sensitive stocks witnessed choppy trade after the RBI policy announcement, with auto realty, and bankex indices sliding up to 1%.
Frauds in public sector banks were mainly in loan portfolios
The private lender’s Q4 profit was impacted by ₹12,490 crore payout towards the Citi acquisition.
The private lender’s advances and deposits grew by 16.9% and 20.8%, respectively, in Q4 FY23 as compared to the same period last year.
The homegrown bank has completed the acquisition of Citibank’s India consumer and non-banking finance businesses for ₹12,325 crore.
Private banks are likely to continue to gain market share, though the pace of gains is likely to moderate as PSBs expand the loan portfolio faster.