Issue: 1365
· Payments firm Razorpay gets
SEBI nod for IPO, likely to list in Q4 of FY 27 at $5 billion.
· NSE's Q2 profit jumps 23% to
Rs 2,578 crore in first earnings show post-listing.
· India’s solar import bill
could fall over 95% as industry eyes $89 billion investment by 2047.
· SBI targets 14-15 pc credit
growth, govt may revisit LTCG tax amid FPI outflows: Chairman CS Setty.
· RBI to meet bank CEOs to
review preparedness for ECL rollout.
· Equitas SFB names Balaji
Nuthalapadi interim CEO after Vasudevan exit.
Government has fiscal headroom to absorb Rs 50,000 crore revenue
loss from LTCG tax abolition: SBI Research: SBI Research indicates
that eliminating the long-term capital gains tax may lead to a modest revenue
decline, estimated to be between Rs 40,000-50,000 crore for FY28. The suggested
reforms involve raising the exemption limits and introducing lower tax rates
based on extended holding durations. Furthermore, an increase in the Securities
Transaction Tax is expected to help mitigate some revenue losses, thereby
fostering foreign investment and enhancing market confidence.
(Economic Times)
Nifty crosses 23,800 for first time since August on falling
crude prices, earnings boost: Markets closed higher
for the fourth straight session on Tuesday, with the Nifty crossing the 23,800
mark for the first time since August 2026, as falling crude oil prices, strong
corporate earnings and returning foreign investors combined to sustain the rally.
The Sensex closed at 76,918, up 1,225 points or 1.62 per cent, while the Nifty
settled at 23,810.85, up 370 points or 1.58 per cent.
(Business Line)
Women in managerial roles: India ranks near bottom, shows ILO
report: Women hold fewer than 12 per cent of managerial
positions in India, placing the country 32nd among 34 economies in the
Asia-Pacific region, ahead of only Pakistan and Bangladesh, according to an
International Labour Organization (ILO) report released on Tuesday. The report,
titled Women in business and management: Scaling success, also found that women
employees in India earn about 28 per cent less per hour than men. This is the
fourth-widest gender wage gap among the 23 Asia-Pacific economies covered,
after Tonga (about 64 per cent), South Korea (about 41 per cent) and Vanuatu
(about 29 per cent). Among managers, however, the gender pay gap in India is
close to zero.
(Business Standard)
SBI’s Q2 net profit beats market estimates: State Bank of India’s (SBI) on Tuesday
reported double digit growth in its net profit and net interest income for the
July-September quarter beating the analyst estimates. The country’s largest
lender’s standalone net profit grew 14.28% year-on-year to Rs 23,038 crore for
the second quarter of the current financial year, aided by one-time gains from
SBI Funds Management’s initial public offering. Analysts had estimated the bank
to report a net profit of Rs 22,619 crore, according to Bloomberg. The bank
reported an exceptional gain of Rs 7,288.47 crore against Rs 4,593.22 crore a
year ago. The net interest income
(NII) of the bank grew 14.7% to Rs 49,143 crore, while its net interest margin
(NIMs) almost flat stood at 2.94% in Q2Fy27 compared to 2.96% in the year-ago
quarter. The lender’s gross advances rose 17.84% to Rs 52 lakh crore, while its
deposits rose 12.3% to Rs 63 lakh crore. Its
asset quality remained robust with Gross non-performing assets (NPAs) declining
to1.39 % from 1.73 % year ago – the lowest in two decades. Net NPAs were down
to 0.36% from 0.42 per cent.
(Financial Express)
We will go slow in the gold loan segment: BoB MD & CEO
Debadatta Chand: Debadatta
Chand, MD & CEO of Bank of Baroda, anticipates a slight rise in deposit
costs next quarter, with strong credit growth and cautious monitoring of
agriculture sector risks amid surplus liquidity and improving asset quality. Retail gold loan growth remains subdued, with
year-to-date growth in negative territory. So we are just looking at how to
structure the portfolio. There is a lot of discussion happening on the gold
loan space. We are not seeing the retail gold loan stress that continues to be
pristine. As there is a discussion
happening in the system, we are growing slower on that segment, Shri Chand
said.
(Financial Express)
Govt sets stage for major banking overhaul: The government on Friday constituted the
High-Level Committee on Banking for Viksit Bharat, headed by former banker and
Central Vigilance Commissioner Suresh N. Patel, with broad terms of reference
(ToR) aimed at undertaking comprehensive reforms in the banking sector. The
Committee will review India’s banking sector and recommend structural,
institutional, regulatory and legislative reforms to make it globally
competitive, financially inclusive and resilient for Viksit Bharat 2047. It
will submit its report within six months, by March 2027. The exercise comes amid a broader call to
revive bank consolidation after a gap of nearly six years. The government’s
long-term objective is understood to be the creation of four large banks, with
at least two institutions aspiring to join the world’s top 20 lenders.
(Financial Express)
CCI clears Kotak-Deutsche deal, KKR vehicle's Gentar: Kotak
Mahindra Bank has received approval for the acquisition of Deutsche Bank's
retail and wealth management business. The acquisition will take place on a
slump sale basis from Deutsche Bank's branches in India. This business includes
services such as deposits, loans, investments, insurance, and foreign exchange
products. KKR-backed Sapphire US Holdco will also subscribe to securities of
Gentari Renewables India, which specializes in renewable energy.
(Economic Times)
Mukesh Ambani overtakes ByteDance's Zhang Yiming to become
Asia’s richest man as RIL rally lifts wealth to $88.8 billion: Reliance Industries
Chairman Mukesh Ambani has overtaken ByteDance co-founder Zhang Yiming to
become Asia's richest person. Ambani's net worth surged
10.5 percent to $88.8 billion, according to Forbes' Real-Time Billionaires list
on Tuesday. Globally, Ambani is ranked 22nd, ahead of Yiming, who is now ranked
25th with an estimated net worth of $84 billion. Adani Group Chairman Gautam
Adani is ranked 26th with a net worth of $80.1 billion.
The
gains came after the company reported its strongest-ever quarterly financial
performance for the July-September quarter, with record revenue, EBITDA and net
profit, supported by robust growth in its oil-to-chemicals (O2C) business, digital
services and retail operations.
(Moneycontrol)
India's free trade agreement pipeline could cover 75% of exports:
Nearly
three-fourths of India’s annual merchandise exports could receive preferential
market access if New Delhi concludes all the trade agreements currently under
negotiation, according to commerce department data. This would mark a sharp
expansion from the 27.4 per cent of exports currently covered by trade
agreements. India has concluded eight trade agreements over the past six years
and is negotiating more than 10 others, as it seeks to diversify trade and
widen market access for domestic exporters. In the current financial year, it
has implemented three free trade agreements (FTAs), with Oman, the United
Kingdom (UK) and New Zealand.The agreements currently in force cover exports
worth $120.9 billion, or 27.4 per cent of India’s total merchandise exports of
$441.5 billion in FY26. Once all agreements under negotiation are concluded,
the coverage could rise to 74.5 per cent, equivalent to $329 billion in
exports.
(Business Standard)
International Solar Alliance eyes mobilising $1 b in financing
in five years: The
International Solar Alliance (ISA) is aiming to undertake 3 gigawatts (GW) of
renewable energy projects with member countries and mobilise around $1 billion
in financing in the next five years. The ninth session of the ISA’s Assembly —
the highest decision-making body — also took place along with the Bharat
Renewable Energy Summit & Expo (BRESE) 2026, where India was elected
President for the third consecutive term while France retained the
Vice-President position.
(Business Standard)
RBI eases services export
reporting compliance for individual exporters, issues notification: Amid increased uncertainty and procedural
hassles for individuals on the new services exports reporting framework, the
Reserve Bank of India (RBI) has now relaxed the Export Declaration Form (EDF)
compliance norms for resident individuals exporting services. A RBI
notification dated November 2 noted that resident individuals exporting
services abroad will be deemed to have submitted the EDF once they provide “the
required payment-related information” to their authorised dealer (AD) bank. Essentially,
any individuals earning income from overseas clients - they could be in the
nature of freelancers, independent consultants etc- will not have to submit an
EDF separately if they provide the required payment-related information to
their bank.
(Moneycontrol)
RBI starts 3 surveys to
capture inflation expectations, consumer confidence: Reserve Bank on Tuesday announced three key
surveys to capture inflation expectations of households and gauge consumer
confidence in the country- the studies that provide input for bi-monthly
monetary policy. The central bank has announced the launch of the
November 2026 round of the Inflation Expectations Survey of Households (IESH). "The
November 2026 round of the survey is being launched. The survey aims at
capturing subjective assessments on price movements and inflation, based on
their individual consumption baskets," it said. The study will be
conducted across 19 cities -- Ahmedabad, Bengaluru, Bhopal, Bhubaneswar,
Chandigarh, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Jammu, Kolkata,
Lucknow, Mumbai, Nagpur, Patna, Raipur, Ranchi and Thiruvananthapuram.
(Business Standard)
Trai imposes penalties of
up to Rs.1 crore per circle for interconnect delays: The Telecom Regulatory Authority of India
(Trai) on Tuesday notified penalties of up to Rs.1 crore per circle or service
area for telecom operators that deny or delay providing interconnection,
entering into interconnection agreements, or disconnecting or surrendering
points of interconnect, as such violations may have a direct and significant
impact on operators and the proper functioning of the interconnection
framework.
(Business Standard)
Internal Funds
Transfer Pricing (FTP)
Ø
Internal
Funds Transfer Pricing (FTP) is a mechanism through which a bank assigns an
internal cost or benefit to the funds used or generated by its business units.
A lending unit is charged for the funding it consumes, while a deposit-taking
unit receives credit for the funding it supplies. This helps distinguish the
profitability of customer relationships from the effects of centrally managed
funding and interest rate positions.
Ø A well-designed FTP framework considers the
maturity, currency, liquidity characteristics and optionality of products. FTP supports better product pricing, performance
measurement and asset-liability management by making the economic cost of
funding visible.
RBI KEY RATES
Repo
Rate: 5.50%
SDF:
5.25%
MSF
/Bank Rate: 5.75%
CRR:
3.00%
SLR:
18.00%
FOREX RATES (RBI REF. RATE)
INR
/ 1 USD : 94.8606
INR
/ 1 GBP : 127.2106
INR
/ 1 EUR : 106.1398
INR
/100 JPY: 60.0900
EQUITY INDEX
Sensex:
76917.85 (+1225.07)
NIFTY:
23810.85 (+370.05)
Bnk NIFTY: 55540.05 (+537.85)
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