HDFC Bank Ltd. has reduced the marginal cost of funds-based lending rate by 30 basis points on most tenures. The rate was lowered by 30 bps on all tenures except two-year loans, where it was reduced by 35 bps. The revised rates came into effect from Monday, according to information on the bank's website.Register to read
The Securities and Exchange Board of India Monday proposed allowing mutual fund asset management companies to manage pooled non-broad-based funds in a consultation paper on the regulatory framework on permissible business activities by their asset management companies. The regulator has sought comments from stakeholders on the consultation paper by Jul. 28.Register to read
Retail sales of all automobile segments recorded a year-on-year increase in June, with sharp growth seen in sales of three-wheelers and tractors, data released by the Federation of Automobile Dealers Associations showed Monday. Sales of passenger vehicles recorded the lowest growth last month, as the lobby body flagged increased inventory levels. Register to read
Investors are heaving a sigh of relief with respect to the domestic equity market as favourable macroeconomic factors pave the way for bulls in the near-to-medium term. The market, which was under pressure a couple of months ago, has recovered from the heat of US tariffs and the geopolitical tension in West Asia. With the US economy expected to see even more headwinds, experts believe India will once again become a preferred bet among emerging markets, supported by a good monsoon, better liquidity, and an increase in the government's capital expenditure. All these are likely to help the benchmark Nifty 50 to continue its northward journey for the fifth consecutive month in July.Register to read