Shares of small finance banks (SFB), namely, Utkarsh, Equitas, Ujjivan, ESAF, AU SFB and Jana SFB rallied up to 4 percent on Monday, June 23, after the Reserve Bank of India tweaked lending norms by reducing its mandatory priority sector lending requirement, covering areas like agriculture and small enterprises by 15 percentage points.Small finance banks currently have to extend 75 percent of thei...

The benchmark indices closed flat amid rangebound trade, with the Nifty 50 falling for the third consecutive session on December 10. About 1,281 shares declined compared to 1,230 shares that advanced on the NSE. The market is expected to remain rangebound, though the overall trend continues to be positive. Below are some trading ideas for the near term:Ashish Kyal, CMT, Founder and CEO of Waves St...

Shares of Ujjivan Small Finance Bank surged over 2 percent to Rs 34.5 apiece on November 28 after the board approved to sell its non-performing assets and written-off loans worth over Rs 270 crore to an asset reconstruction company."The bank has completed the sale of stressed loan portfolio including written off loans pool with an outstanding value of Rs 270.35 crore as on September 30, 2024, to a...

A popular theory in the market is that the main reason for banks’ inability to garner low-cost deposits fast enough to match loan growth is that more savers are diverting their money to the stock market. This has led to mutual fund managers blaming the banking lobby for some of the rule changes in recent times. But the theory of the stock market hurting banking deposit growth may be flawed, argu...

The reverse merger of Ujjivan Financial Services into Ujjivan Small Finance Bank is expected to be completed by September 2023, the latter managing director and chief executive officer Ittira Davis says. In the backdrop of strong September quarter results, Davis discusses the small financier plans both on loan and the deposit franchise.The trend across the banking industry has been that the deposi...