{ }
001122334455554433221100
001122334455554433221100

ICICI Bank targeted by ransomware group Bashe amid data breach threats

The ransomware group Bashe has claimed responsibility for breaching ICICI Bank's database, demanding a ransom by January 24, 2025, to prevent the release of sensitive information. Despite the group's threats and a history of targeting financial institutions, ICICI Bank has not publicly acknowledged the breach. This incident highlights the escalating cybersecurity risks faced by Indian banks, with experts urging stronger security measures.

bnpparibas sets target prices for major companies amid market challenges

Analysts at BNP Paribas have set target prices for several major companies, with Reliance Industries at Rs 1,650 and Tata Consultancy Services at Rs 4,750. They project a Nifty target of 25,500 for CY25, citing challenges like food inflation and rising US bond yields, while favoring large-cap stocks and banks due to strong earnings growth prospects. Other notable targets include HDFC Bank at Rs 2,550 and Bajaj Finance at Rs 10,000, amidst a mixed earnings outlook and a potential slowdown in Indian equities.

insurance shares decline as regulator considers bancassurance business cap

Shares of life insurance companies plummeted, with declines of up to 4%, following reports that the insurance regulator IRDAI is considering capping the share of bancassurance business from parent banks to 50%. Currently, parent banks account for 85-95% of the bancassurance business for firms like HDFC Life, Max Life, and SBI Life, while ICICI Bank represents 50% for ICICI Prudential. The regulator's move aims to address concerns over the heavy reliance of insurers on bancassurance.

regulatory scrutiny blurs lines between banks and nbfc operations says l&t finance ceo

Sudipto Roy, MD and CEO of L&T Finance, asserts that working in banks and non-banking financial companies (NBFCs) is similar due to stringent regulatory scrutiny from the Reserve Bank of India. He emphasizes that upper-layer NBFCs operate like banks, highlighting the indistinguishable nature of their operations. Roy, who transitioned from a banking background, took charge of L&T Finance as it aimed to focus entirely on retail NBFC services.

Indian stock market surges as financial stocks rally on strong US data

On November 22, the BSE Sensex surged by 1,599 points (2.1%) to reach 78,754, while the NSE Nifty rose by 478 points to 23,828, driven by a rally in financial stocks and strong US labor market data. Market breadth was positive, with 2,123 shares gaining and 1,218 declining. Key gainers included Reliance Industries, ICICI Bank, and Tata Motors, while the Nifty PSU Bank index rebounded by 2.47% after a previous decline.

understanding costs and interest rates for gold loans in india

Gold loans are a popular financing option in India, especially for emergencies, with interest rates ranging from 9.15% to 28% per annum. For a ₹3 lakh loan at a 12% interest rate over one year, borrowers should consider total costs, including processing fees and other charges, to understand their financial commitment. Major banks and NBFCs like HDFC Bank and ICICI Bank offer competitive rates, which can vary based on loan terms and market conditions.

Nifty reports single-digit earnings growth for second consecutive quarter

Nifty companies reported a 4% year-on-year profit growth in Q2, marking the second consecutive quarter of single-digit growth, driven by SBI, Hindalco, ONGC, ICICI Bank, and Axis Bank. However, underperformance from BPCL, JSW Steel, and others offset gains, with consumption and asset-quality stress in BFSI sectors noted as weak spots. FY25 earnings projections have been downgraded by 7%, with a mere 5% growth expected, the weakest since FY20.

mutual funds increase investments in top stocks amid market correction

In October, mutual funds (MFs) made net purchases exceeding Rs 92,000 crore in local equities, focusing on top Nifty stocks, while foreign institutional investors (FIIs) sold over Rs 94,000 crore. Despite a market correction with major indices dropping over 7%, MFs heavily invested in Mahindra & Mahindra, HDFC Bank, Axis Bank, ICICI Bank, and SBI, with Mahindra & Mahindra attracting Rs 6,840 crore despite a 12% decline in its stock price. HDFC Bank saw inflows of Rs 5,756 crore, while Axis Bank and ICICI Bank received Rs 4,115 crore and Rs 3,897 crore, respectively.

RBI identifies SBI HDFC Bank and ICICI Bank as systemically important banks

The Reserve Bank of India has identified State Bank of India, HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks (D-SIBs). SBI will face an additional Common Equity Tier 1 requirement of 0.80% of Risk Weighted Assets, while HDFC Bank and ICICI Bank will have requirements of 0.40% and 0.20%, respectively. The higher surcharges for SBI and HDFC Bank will take effect from April 1, 2025, with interim rates of 0.60% and 0.20% applicable until then.

investment trends among high net worth individuals in india

High Net Worth Individuals (HNIs) and Ultra High Net Worth Individuals (UHNWIs) in India are diversifying their investments across various asset classes, focusing on equities, real estate, and alternative investments. Key sectors attracting attention include technology, pharmaceuticals, consumer goods, green energy, and financials, driven by urbanization and demand for quality properties. These investors are increasingly sophisticated, seeking high-return and impact-driven opportunities through personalized wealth management solutions.
Trending
Subcategory
Countries:
Companies:
Currencies:
People:

Machinary offers a groundbreaking, modular, and customizable solution that provides advanced financial news and statistical analysis. Our platform goes beyond traditional quantitative analysis, offering users a comprehensive understanding of real-time market dynamics, event detection, and risk analysis.

Address

Newsletter

© 2025 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.