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News18
30 minutes ago
- News18
Bajaj Finance launches financial awareness drive in Assam
Guwahati, Jul 28 (PTI) Leading NBFC Bajaj Finance on Monday launched a financial literacy campaign in Assam to inform people about the safety aspects of monetary transactions. Launching the programme, 'Arth Sutra Samvad', in Guwahati, the company said the campaign is being implemented under the RBI's initiative for augmenting financial literacy and awareness across the country. 'The pan-India programme aims to further financial inclusion across villages and underbanked locations in India's hinterland. It aims to create awareness about financial discipline, online fraud and good practices in money management," the company said in a statement. Bajaj Finance's 'Arth Sutra Samvad' is a comprehensive programme to foster financial awareness and empowerment at the grassroots level across India's hinterlands, it added. The company kick-started its awareness drive in Assam by holding a panel discussion here with experts — National Institute of Panchayat and Rural Development Master Resource Person Biswadeep Bhattacharjee, IIT Guwahati Assistant Professor (Economics) Agnirup Sarkar and Deputy Superintendent of Police (CID) Krishnadwaipayan Nath. 'Following the event in Guwahati, on-ground awareness sessions will be carried out across villages in Assam. At its core, the initiative aims to simplify personal finance for individuals, helping them make informed choices with confidence and clarity," it added. Through workshops, interactive sessions and community dialogues, the exercise will cover essential topics such as the importance of savings and how to build financial buffers for emergencies, understanding the nuances of responsible borrowing to avoid debt traps and recognising and avoiding common scams. 'In addition, participants will be guided on cultivating financial discipline and developing the resilience needed to navigate life's monetary ups and downs," Bajaj Finance said. PTI TR TR ACD (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: July 28, 2025, 19:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.


The Hindu
3 hours ago
- The Hindu
Stock markets tumble as Sensex, Nifty decline nearly 1%
Stock markets declined for the third day on Monday (July 28, 2025), with benchmark indices Sensex and Nifty tumbling nearly 1% following heavy selling in Kotak Mahindra Bank and uncertainty related to the India-U.S. trade deal. The 30-share BSE Sensex tanked 572.07 points or 0.70%, to settle at 80,891.02. During the day, it slumped 686.65 points or 0.84%, to 80,776.44. The 50-share NSE Nifty declined 156.10 points or 0.63%, to 24,680.90. From the Sensex firms, Kotak Mahindra Bank tumbled 7.31% after the company reported a consolidated net profit of ₹4,472 crore for the June quarter and flagged stress on the retail commercial vehicle portfolio due to adverse macroeconomic conditions. The profit in the year-ago period was ₹7,448 crore, but it had included gains of over ₹3,000 crore on its stake sale in the general insurance arm, while the net profit for the March quarter stood at ₹4,933 crore. Bajaj Finance, Bharti Airtel, Titan, Tata Consultancy Services, HCL Tech and State Bank of India were also among the laggards. However, Hindustan Unilever, Asian Paints, ICICI Bank, Power Grid, HDFC Bank and ITC were the gainers. Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,979.96 crore on Friday (July 25, 2025), according to exchange data. In Asian markets, Japan's Nikkei 225 index settled lower while South Korea's Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng ended in positive territory. Markets in Europe were trading in the green. The U.S. markets ended higher on Friday (July 25, 2025). Global oil benchmark Brent crude climbed 0.91% to $69.05 a barrel. On Friday (July 25, 2025), the Sensex tanked 721.08 points or 0.88%, to settle at over a month's low of 81,463.09. The Nifty dropped 225.10 points or 0.90%, to a month's low of 24,837.


Mint
6 hours ago
- Mint
Banks, NBFCs continue to battle rising stress in unsecured loans in Q1
Mumbai: Indian banks continued to experience stress in their unsecured loan books in the first quarter of the current financial year, with select lenders and non-banking financial companies (NBFCs) flagging higher bad debt in new segments such as credit for small businesses and retail commercial vehicles. Notably, the pockets of unsecured stress were seen in various segments such as microfinance, retail commercial vehicle, MSME (micro, small, and medium enterprises) and personal loans and credit cards, according to bankers' post-earnings analyst calls in recent days. Add to that the cyclical impact of higher farm loan slippages, and most lenders saw elevated provisions for potential loan losses and credit cost weighing on their balance sheet during the three months through June. 'Lenders are still cautious amid the asset quality stress in unsecured segment, which is reflected in slow loan growth in this segment. This continues to tighten liquidity for the borrowers and their ability to refinance the existing loans, which in turn is leading to asset quality stress for lenders. The big challenge for the lenders is assessment of income," said Anil Gupta, senior vice president, Icra. The country's largest private sector lenders such as HDFC Bank, ICICI Bank and Axis Bank highlighted a seasonal jump in agriculture slippages. Axis Bank was also an outlier in terms of bad-loan provisions, which surged due to a shift in its classification methodology for certain loan segments such as retail cash credit and one-time settlement of stressed loans. While Axis Bank said that the shift in methodology was to align the bank's stress recognition as per industry best practices, the country's largest consumer finance lender Bajaj Finance reported a substantial rise in delinquencies in MSME and business banking loans for the first time, besides the auto finance portfolio. 'MSME business has shown some strain since February so it's coming a little too suddenly. We've taken a whole host of actions to prune business. It's likely that both these businesses will grow a lot more slowly in the current year," Rajeev Jain, vice-chairman, Bajaj Finance, said in a post-earnings call on Friday. 'Credit costs were principally elevated in two-wheeler and three-wheeler business, which is a winding down business. That's a good news. The captive book has given us a lot of trouble, or continues to give us trouble," Jain added. However Shriram Finance was an outlier, seeing a sequential drop in credit cost to 1.9% in the first quarter from 2.4% in the preceding three months. 'The questions from investors have been that their numbers always come with a lag and hence we are not confident," said Suresh Ganapathy, managing director of Macquarie Research. "Plus, the guidance on margins and consequent delivery of the same has been a disappointment, as per investors." Loan jolt Banks such as IDFC First Bank, Kotak Mahindra Bank and Bandhan Bank reported weaker profitability on the back of a rise in microfinance slippages. The management of these banks said that while stress in the sector is expected to remain elevated in the current quarter, it seems to have peaked. As such, lenders highlighted early signs of easing and said that they expect the asset quality of the portfolio to start improving Q3 (October-December) onwards. 'The MFI book is a typically 24-30-month kind of book and therefore, it obviously runs off pretty fast. Currently, the new disbursements we are doing is in about the same level of run-offs. So the book will kind of stabilise and start climbing again once disbursements pick up," Kotak Bank's managing director and chief executive officer Ashok Vaswani said on 26 July. Kotak Bank and HDB Financial, the NBFC arm of HDFC Bank, also flagged a rise in commercial vehicle slippages, which the bank attributed to overall macro-economic slowdown, especially in the logistics and infrastructure sectors, and delayed payments from central and state governments. Some large banks such as HDFC Bank and Bank of Baroda also made additional prudent provisions in order to beef up their buffers. HDFC Bank and ICICI Bank said that, outside of the agriculture loan book, they are bracing for the possibility of asset quality worsening through the rest of the year. 'The credit cost continues to be benign, and some point in time, it will revert to the mean. What that means is a moot point, and how long it takes is also a moot point, but as of now, it continues to be benign and healthy," HDFC Bank's chief financial officer Srinivasan Vaidyanathan said in a post-Q1 analyst call. ICICI Bank's finance chief Anindya Banerjee said while the current sort of credit behaviour and asset quality is extremely benign, the bank will 'probably see some increase going forward". 'Credit costs today are negligible. So, they may go up slightly," he said in the analyst call.