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RBI rate cut to support growth; when credit offtake rises, so will deposits: Axis Bank CEO Amitabh Chaudhry
Economic Times
·
1m ago
Medial
Axis Bank CEO Amitabh Chaudhry sees India’s growth largely unaffected by global challenges, with rate cuts expected to boost credit demand and, in turn, deposits. He's optimistic about Indian entrepreneurship, dismissing concerns over new generations favoring investments over business operations. The influx of Japanese banks in India doesn’t worry him, and he projects cautious optimism regarding deposit mobilization, credit growth, and private capital expenditure, underscoring that new entrepreneurs will drive growth in the coming years.
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Axis Bank to fast-track Axis Finance divestment amid regulatory pressures
Livemint
·
11m ago
Medial
Axis Bank is looking to divest its stake in non-banking subsidiary Axis Finance, either through a listing or by bringing in a strategic partner, as regulatory constraints require banks to maintain a clear separation from their subsidiaries. Managing Director and CEO Amitabh Chaudhry also revealed his vision to propel Axis Bank from its current third position to the top, focusing on improving customer service, expanding its rural loan portfolio, and driving digital innovation. The bank is also facing challenges including rising credit costs, sluggish deposit growth, and rising attrition.
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Banks Need To Work With Fintechs: Axis Bank MD
Inc42
·
11m ago
Medial
Amitabh Chaudhry, CEO of Axis Bank, highlighted the benefits of collaboration between banks and fintech startups in a compliant manner. Axis Bank is currently conducting around 15 experiments with AI and machine learning to enhance user experiences on its app. These remarks were made on the same day Prime Minister Narendra Modi praised the fintech ecosystem and cited the Unified Payments Interface (UPI) as a successful example of India's fintech industry.
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RBI rate cut expected as inflation eases and credit growth slows in India - BusinessToday
Business Today
·
2m ago
Medial
The Reserve Bank of India (RBI) is expected to announce a third consecutive rate cut of 25 basis points in its upcoming meeting to support growth and maintain financial stability amid controlled inflation. Led by RBI Governor Sanjay Malhotra, the meeting aims to shift the monetary stance from neutral to accommodative. Some forecasts suggest a larger rate cut of 50 basis points to counter economic uncertainty. Banks are already reducing interest rates on savings and fixed deposits.
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Deposits grew faster than credit amid cautious economic activities
Economic Times
·
1m ago
Medial
At the end of June 13, bank deposits in India grew by 10.4% year-on-year, surpassing the 9.6% credit expansion, reducing the credit-deposit ratio. The Reserve Bank of India's rate cuts contributed to deposit growth, as banks reduced deposit rates following a 50 basis points repo rate cut in June. However, maintaining this deposit growth could be challenging due to potentially discouraging lower deposit rates, with savers considering alternatives like mutual funds for better returns.
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Indian markets rally after RBI maintains rates, changes stance to neutral
YourStory
·
10m ago
Medial
- BSE Sensex jumped over 550 points to revisit the 82,000-level in morning trade on Wednesday. - RBI changed its monetary policy stance to 'neutral', hinting at a possible rate cut in future. - Buying in banking and IT stocks contributed to the positive trend in the markets. - Some major gainers among the 30 Sensex companies were State Bank of India, Axis Bank, Bajaj Finance, Tata Motors, Bharti Airtel, PowerGrid, and HCL Technologies. - The RBI decided to keep the policy rate unchanged at 6.5% for the tenth consecutive time. - The RBI remains watchful of elevated food inflation despite India's strong GDP growth.
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As RBI relents on policy stance, what is the outlook for Indian equities?
Money Control
·
10m ago
Medial
the MPC meeting, several factors were considered that led to the change in policy stance: 1. Economic slowdown: The Indian economy has been facing a slowdown, with GDP growth falling to its lowest level in recent years. The rate cut is expected to provide a boost to the economy and revive growth. 2. Inflation outlook: The inflation rate has remained well within the RBI's target range, providing room for a rate cut. Lower interest rates can help stimulate consumption and investment, driving inflation higher. 3. Global factors: Weak global growth and uncertainty due to trade tensions have also influenced the decision. The RBI believes that a rate cut could help counter potential external risks and support domestic demand. 4. Liquidity conditions: The banking system has been facing liquidity constraints, which have impacted credit flow in the economy. The rate cut is expected to improve liquidity conditions and make credit more easily available. 5. Policy transmission: Despite previous rate cuts, the benefits were not fully passed on to borrowers. The RBI expects that a change in policy stance will encourage banks to transmit the rate cut to borrowers more effectively. 6. Market expectations: Market participants were anticipating a rate cut, and the change in policy stance aligns with these expectations. This move is seen as a positive signal for the stock markets and investor sentiment.
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Is there really a structural change in bank deposit growth?
Money Control
·
11m ago
Medial
Finance Minister Nirmala Sitharaman has urged public sector banks to increase their deposits through special drives. This comes as the Reserve Bank of India (RBI) has repeatedly highlighted the growing gap between bank deposits and bank credit. The RBI governor noted that retail customers are finding alternative investment avenues more attractive. Sitharaman's call to action is aimed at bridging this gap and ensuring a balance between deposits and credit in the banking sector.
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SBI bracing for a squeeze on margins from further RBI rate cuts: Chairman CS Setty
Business Today
·
3m ago
Medial
SBI, under Chairman CS Setty, faces margin pressure from RBI rate cuts, as rate adjustments impact lending immediately but influence deposits over 12-18 months. In Q4FY25, SBI's standalone net profit fell 10% to ₹18,642.59 crore, yet the annual net profit rose 16.08% to ₹70,901 crore. The gross NPA ratio improved to 1.82%, while net NPA reduced to 0.47%. FY26 credit growth is expected at 12-13%, slightly less than previous forecasts.
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Bajaj Finance cuts deposit rates, removes benefits for senior citizens
Economic Times
·
1m ago
Medial
Bajaj Finance, India's largest NBFC accepting deposits, has reduced deposit rates for the third time since 2025, slashing them by 60 basis points. The additional benefits for senior citizens have been reduced to 35 basis points from 50, and special tenures of 18-month and 33-month deposits have been discontinued. This change follows the Reserve Bank of India's repo rate cut of 50 basis points. Despite rate cuts, Bajaj Finance offers higher returns than SBI's fixed deposits.
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Bank of Baroda reduces home loan interest rates to 7.45%; offers nil processing fee - The Economic Times
Economic Times
·
1m ago
Medial
Bank of Baroda has reduced its home loan interest rates to 7.45% per annum and waived the processing fee, following a repo rate cut by the RBI. This makes home loans more affordable, reflecting a series of monetary easing actions by the RBI. The reduction follows an earlier cut in June. Concurrently, Punjab National Bank increased its Repo Linked Lending Rate, although adjustments in Bank Spread balanced the overall customer impact.
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