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Unfavourable global market cues, unabated rise in Covid cases and hiccups in vaccination drive are among factors that are likely to drive Indian markets lower on Friday after four straight sessions of gains this week. Furthermore, stock-specific action is expected to influence market trajectory on an earnings heavy day. At 7.20 am, SGX Nifty was ruling 141 points lower at 14,790, indicating a gap-down start to the May F&O series. India for the ninth day in a row recorded fresh Covid infections over 3 lakh with the caseload inching closer to the 4 lakh mark as India reported 3,86,693 fresh cases in the last 24 hours. Amid this backdrop, the pace of vaccination assumes importance, however, several states are flagging shortages of the same.
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Ujjivan Small Finance Bank launches women savings account, offers 7% rate of interest
Ujjivan Small Finance Bank announced the launch of Women Savings Account catering to the financial needs of women. âGarima Savings Accountâ, as the product has been named will offer multiple customised benefits to women including upto a maximum of 7% rate of interest on savings account.Â
Through this product, Ujjivan SFB aims to serve the financially aware and economically active women of mass market and become a companion in their day to day banking needs.Â
Garima Savings Account offers a higher cash deposit and free unlimited withdrawal at any Ujjivan SFB branch with no additional charges for non- home branch transactions. Customers would also enjoy unlimited free NEFT and RTGS transactions through internet banking and mobile banking.Â
Financials stocks were trading in the negative zone, with the S&P BSE Finance index falling 149.29 points or 2.12% at 6881.56 at 13:48 IST. Among the components of the S&P BSE Finance index, ICICI Securities Ltd (down 7.09%), Dewan Housing Finance Corporation Ltd (down 5%),SBI Cards & Payment Services Ltd (down 4.95%),ICICI Lombard General Insurance Company Ltd (down 4.64%),Ujjivan Financial Services Ltd (down 4.63%), were the top losers. Among the other losers were Shriram Transport Finance Company Ltd (down 4.4%), Aditya Birla Capital Ltd (down 4.05%), Axis Bank Ltd (down 3.94%), DCB Bank Ltd (down 3.8%), and Central Bank of India (down 3.67%). On the other hand, IFCI Ltd (up 5.2%), MAS Financial Services Ltd (up 4.4%), and Bank of Maharashtra (up 3.89%) moved up.