Banking Sector

"Easing of supply chain pressures and the recent ebbing of commodity prices are providing some breather from record high inflation," the RBI said in its monthly bulletin. Incidence of unseasonal and excessive rainfall, if any, can impact food prices, especially vegetable prices. Greater transmission of input cost pressures to selling prices across manufacturing and services sectors may also create fresh price pressures.

Feedback may be provided in respect of questions raised therein, including other relevant suggestions, through e-mail on or before October 3, 2022. "The focus of RBI's initiatives in the payment systems has been to ease frictions which may arise from systemic, procedural or revenue related issues. While there are many intermediaries in the payments transaction chain, consumer complaints are generally about high and non-transparent charges.

The hike in deposit rates are in line with the Reserve Bank of India's (RBI) 50 basis points hike in repo rate in the August monetary policy. The rise in deposit will help banks fund the demand for loans during the festive season. "Going forward, banks are expected to raise deposit rates for boosting deposits to support this rising credit offtake given that liquidity is narrowing in the banking system.

"Commission approves proposed combination involving amalgamation of HDFC Limited, HDFC Bank, HDFC Investments and HDFC Holdings," CCI said in a tweet on the microblogging platform Twitter on Friday. Whenever a deals over certain limit has been struck in the marketplace then it needs an approval from the regulator to keep a tab on unfair business practices.

According to the Insurance Regulatory and Development Authority of India (IRDAI) the non-life insurance sector had earned a premium of Rs 23,392.46 crore in July 2022 up from Rs 20,157.23 crore. The growth would have been higher but for the negative premium growth posted by Agricultural Insurance Company of India Ltd and ECGC Ltd.

The stock has surpassed its previous high of Rs 859.70, which had hit on October 25, 2021. At 2.48 p.m., shares of the bank were trading at Rs 860.25, up 11.50 or 1.35 per cent from its previous close. In the last one month, the stock of private lender has gained more than 12 per cent. Before ICICI Bank hitting Rs 6 lakh crore market-cap mark, Reliance Industries, Tata Consultancy Services, HDFC Bank, Infosys and Hindustan Unilever have also hit this mark.

"The current equity market environment is challenging and may be prolonged. Considering the said market environment, "SBG (SoftBank Group Corp) has determined that the best option at this time is to settle these prepaid forward contracts in physical form," said the company, adding that this "will further strengthen our defense against the severe market environment".

Interest payments will also rise due to global financial conditions and inflationary pressure. Earlier, falling interest rate regime has helped in improving the debt servicing ability of companies. Thus interest coverage ratio have improved in FY22. But improvement is skewed in favour of large enterprises, with MSME sector still under pressure. Small industries continued to remain vulnerable in terms of interest coverage ratio.

Eden had asked Finance Minister Nirmala Sitharaman whether the government is aware of the 'cut and pay' system practiced by some private non-life insurers in the case of vehicle third party insurance? The cut and pay system is one where the insurers collect a lower sum than what is stipulated but print the actual premium figure on the policy.

In the earnings call after reporting $23.4 billion net loss in the June quarter, Son said that unicorn leaders "still believe in their valuations and they wouldn't accept that they may have to see their valuations go lower than they think". The winter for publicly-listed companies is still continuing, but a similar downturn for startups may last "longer," warned the 64-year-old executive.