Interest rate-sensitive stocks close with losses From the banking pack, RBL Bank plunged 8.16 percent, SBI dropped 3.75 percent, Axis Bank 2.77 percent, Federal Bank 1.53 percent, Kotak Mahindra Bank 0.58 percent, ICICI Bank 0.49 percent and HDFC Bank 0.19 percent on the BSE.
Bank fraud cases see a major spike in 2019-20: How prepared is the RBI? A look at the latest data of large banks shows a spike in number of fraud cases and the money involved over the previous year. Subsequently,there is a corresponding rise in provisions made.
India was on the path to economic recovery; local lockdowns threw a spanner in the works - The Economic Times Risk aversion among the public at large and local lockdowns by different states and cities have contributed significantly to the slowdown in July. Uttar Pradesh has mandated a closure of all markets on weekends, while Bihar has announced a full lockdown from July 16 until the month end. Pune and Bengaluru are also on lockdown as cases have spiked.