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Big banks may struggle, but smaller credit plays set to outperform: Nilesh Shah

Economic Times

Economic Times · 2m ago

Big banks may struggle, but smaller credit plays set to outperform: Nilesh Shah

Nilesh Shah, MD & CEO of Envision Capital, highlights opportunities in India's financial sector, suggesting large banks may struggle due to their size, while smaller banks and specialized credit plays are likely to outperform. He emphasizes financialization as a multi-decadal investment theme. Shah holds a positive outlook on financials, especially with online investment and fintech growth. He continues to support stocks like Angel One, noting resilient valuation and market potential despite regulatory challenges.

Related News

Is your credit card application getting rejected? Try an FD-backed card

Money Control

Money Control · 1y ago

Is your credit card application getting rejected? Try an FD-backed card

Individuals with poor credit scores or irregular income may struggle to obtain a regular credit card. In such cases, banks may offer an FD-backed credit card, which requires customers to maintain a fixed deposit as collateral. This assures banks that any dues can be offset by the FD money. FD-backed credit cards offer benefits such as rewards and brand offers while earning interest on the deposited amount. They are suitable for first-time borrowers and those seeking to improve their credit score. However, these cards may have lower credit limits and fewer benefits compared to unsecured cards.

As RBI forces bigwig issuers to rein in credit cards, lenders turn wary of plastic

Money Control

Money Control · 1y ago

As RBI forces bigwig issuers to rein in credit cards, lenders turn wary of plastic

In May, there was a moderation in the growth of credit card issuance and spends in India. The Reserve Bank of India has imposed bans on credit card issuance as a penalty on select banks in recent months. Banks have become more cautious as the growth in credit card spends has shown a decline. However, the volume of card swipes for smaller transactions remains high. The integration of UPI and credit cards may have contributed to this volume.

Like cricket, new crop of entrepreneurs coming from small towns; focus on domestic stories and bottom-up stock ideas: Nilesh Shah

Economic Times

Economic Times · 18d ago

Like cricket, new crop of entrepreneurs coming from small towns; focus on domestic stories and bottom-up stock ideas: Nilesh Shah

Nilesh Shah, MD of Kotak AMC, emphasizes focusing on basic investment principles in an unpredictable market environment. He highlights a strong IPO pipeline in India, with entrepreneurs emerging from smaller towns, similar to the evolution of the Indian cricket team. Shah advises focusing on resilient companies with reasonable valuations and committed management. Kotak is optimistic about domestic consumer discretionary sectors, anticipating growth from tax cuts, reduced EMI burdens, and potential GST rationalization, prioritizing domestic stories and bottom-up stock ideas.

Sahamati plans interoperability for small aggregators for a level playing field

Economic Times

Economic Times · 6m ago

Sahamati plans interoperability for small aggregators for a level playing field

Sahamati is developing SahamatiNet and Router to enable interoperability in the NBFC-Account Aggregator (NBFC-AA) network, aiming to ease integration challenges and enhance scalability. These initiatives focus on eliminating the need for bilateral interconnections, crucial as smaller AAs struggle due to big banks' reluctance to partner. Despite being built, approval from the Reserve Bank of India is pending. The platforms promise open-banking benefits by facilitating data sharing between financial entities and fintechs.

Banks police business card swipes, ask users to swear off misuse

Economic Times

Economic Times · 2m ago

Banks police business card swipes, ask users to swear off misuse

Indian banks are tightening controls over the use of corporate credit cards, urging users to sign commitments ensuring such cards are used solely for business expenses. This measure addresses regulatory concerns over misuse, with frequent offenders potentially facing deactivation of their cards. Personal overseas spending using these cards is not currently counted against the Liberalised Remittance Scheme (LRS) limit but plays into broader considerations around foreign outflow monitoring by the Reserve Bank of India.

PSBs batting well, but weak on credit - The Economic Times

Economic Times

Economic Times · 1m ago

PSBs batting well, but weak on credit - The Economic Times

India's public sector banks (PSBs) have improved their financial health significantly, recovering from past loan crises. They are gaining market share and improving efficiencies, with smaller banks finding niches like small business lending. However, credit growth in the industrial sector remains sluggish. PSBs are focusing on deposit mobilization and governance improvements in subsidiaries. The government's push for improved governance and investment in insurance ventures reflects an effort to bolster economic contributions and potentially set the stage for future privatization debates.

'Strong nations can do what they want': Nilesh Shah on Trump tariffs, says India hit lower than most of its peers

Business Today

Business Today · 4m ago

'Strong nations can do what they want': Nilesh Shah on Trump tariffs, says India hit lower than most of its peers

US President Donald Trump imposed reciprocal tariffs on countries like India and China. Nilesh Shah, MD of Kotak Mahindra Asset Management, explained this action using a Sant Tulsidas quote, highlighting that powerful nations often act without facing criticism. While the US economy, reliant on consumer spending, might suffer from inflation and reduced wealth effects, emerging markets may experience stagflation. Conversely, the US might encounter a "hard landing," illustrating varied economic impacts globally.

Hedge Funds Kite Lake and Astaris Prepare to Close to New Cash

Livemint

Livemint · 11m ago

Hedge Funds Kite Lake and Astaris Prepare to Close to New Cash

Two London-based hedge funds, Kite Lake Capital Management and Astaris, are set to close to new investors despite the broader hedge fund industry experiencing significant outflows. Kite Lake will no longer accept funds into its $1.4bn KL Special Opportunities Fund from 1 October. Astaris, meanwhile, will close to new investors once assets reach €1bn ($1.1bn). The closures come as many smaller hedge funds struggle with outflows, with investors withdrawing $216bn between 2022 and 2023 and another $39bn this year through May.

Cred only hires employees with credit scores above 750: Kunal Shah

Economic Times

Economic Times · 6m ago

Cred only hires employees with credit scores above 750: Kunal Shah

Cred, a fintech company led by founder Kunal Shah, only hires employees with credit scores of 750 or higher to emphasize responsible financial behavior. Shah aims to make a good credit score the norm for India's affluent, but acknowledges challenges for younger individuals. To support recruits, Cred helps potential employees improve their scores. Additionally, Cred is updating its P2P lending platform, Cred Mint, to comply with new regulations and recently launched loans against mutual funds as its first secured credit product.

Banking sector Q4 preview: PSU Banks to post better earnings than private banks

Livemint

Livemint · 1y ago

Banking sector Q4 preview: PSU Banks to post better earnings than private banks

The fourth quarter of FY24 is expected to be challenging for the banking sector due to factors like net interest margin pressure, slower deposit growth, and cost pressures related to wage hikes and pension provisions. PSU banks are projected to outperform private banks in terms of earnings growth, driven by lower credit costs. The report suggests that the NIM pressure and funding costs are likely to persist in Q4 FY24. PSU banks like SBI are considered top picks due to their earnings stability and growth prospects. Overall, NII growth is estimated to be around 8.3% YoY for the banking coverage universe in Q4 FY24.

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