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The Indian mutual fund industry’s investment in the banking sector has touched new highs recently. Although corrections post the credit policy, fund managers are finding banking stocks as expensive picks in the long term. Stocks in the banking space had emerged as the favourite amid other consumption sectors till the beginning of November last year, […]

Standard Chartered today said it recorded a double-digit growth in its income in the first three months of the year. The rise was driven by growth in the wholesale and consumer banking businesses. Lower expenses, following a reduction in the number of employees, also aided earnings, the British bank said in its interim management statement. […]

State-owned IDBI Bank today raised lending and deposit rates by up to 50 basis points soon after the Reserve Bank’s monetary policy action, a move likely to be followed by other lenders in the coming days. In response to increase in cost of funds and keeping in view the market conditions, the bank has decided […]

The Central Board of Direct Taxes (CBDT) has given a breather to individual tax payers from declaring high-value transactions with banks, mutual funds, credit cards, etc via the income tax return forms. The newly notified income tax return forms for the Assessment Year 2011-12 – including Sahaj, Sugam, ITR 2, and ITR 3 – do […]

Buying a new home will become more expensive with banks set to hike lending rates by a quarter to half a percentage point after the Reserve Bank of India (RBI) raised key policy and savings rates. For existing home loan borrowers, too, rates will go up by the same extent. On a positive note, rates […]