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...

Domestic equity market benchmarks BSE Sensex and NSE Nifty 50 were likely to open in red on Friday, as suggested by trends on SGX Nifty in early trade. Nifty futures on the Singapore Exchange were trading 32.5 points, or 0.19 per cent, lower at 17,283.5 levels. In the previous session, BSE Sensex ended 157 points or 0.3 per cent up at 58,222, while NSE Nifty 50 gained 58 points or 0.3 per cent to ...

Indian benchmark indices are likely to open in the green as trends in the SGX Nifty indicate a gap-up opening with a gain of 114 points. In the previous session, the BSE Sensex closed above 60,000 mark for the first time since August 18, rising 322 points to 60,115, while its broader peer NSE Nifty 50 rose 103 points to 17,936. “The recent rebound in the global markets especially the US is add...

With an aim to increase its secured asset portfolio, Ujjivan Small Finance Bank is entering the gold loan segment shortly and also extending auto loan offerings to non-micro borrowers.Like other small finance banks, currently, as much as 70 per cent of Ujjivan's assets are unsecured/without collaterals, and a vast majority of its customers are micro-loan borrowers. The remaining 30 per cent are un...