Ahead of Market: 12 things that will decide stock action on Friday
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Synopsis We might see further consolidation after the recent up move. However, the bias would remain on the positive side, said Ajit Mishra, VP - Research at Religare Broking.
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Analysts said Nifty can see a brief consolidation in the 14,700-15,000 range in the coming days before it moves higher.
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NEW DELHI: Nifty made another gap up opening and took out the crucial 15,000-mark before succumbing to a volatile trade due to the weekly and monthly F&O expiry. The headline index still managed to end above its previous closing mark, but formed its first bearish candle on the daily chart in the past six sessions.
RBI to conduct customer satisfaction survey on bank mergers
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Last Updated: Apr 26, 2021, 04:52 PM IST
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The proposed survey will cover a total of 20,000 respondents from 21 states, including Uttar Pradesh, Maharashtra, West Bengal, Tamil Nadu, Bihar, Karnataka, Madhya Pradesh, and Gujarat. In all, there will be 22 questions.
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The RBI will provide the contact number of the customers of bank branches selected from the 21 states.
The Reserve Bank of India (RBI) has decided to conduct a customer satisfaction survey to find out the impact of the recent mergers of state-owned banks on banking services being availed by individuals.
Among other things, the respondents will be asked whether the merger was positive from the point of customer services. The choice before the customer will be to tick one of the following options strongly agree; agree; neutral; disagree; or strongly disagree.
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Steel, cement and construction are the industries that are doing very well. At this time, there is a great push. These industries are doing very well and we are seeing very good results for us, said
Rajkiran Rai G, MD & CEO,
Where do you see the credit cost for banks in Q2? Do you feel it will be much lower overall, and do you see things getting better?
Yes, the credit cost for the full year will be cumulative numbers because the last two-three quarters we have not recognised the NPAs even though we declared pro forma NPA and most of the expected provision is on the standard book as of now. So, the credit cost for the full year can be anything between 2% to 3% for the system.
(Photo by Sajjad HUSSAIN / AFP)
Public sector banks (PSBs) namely Punjab National Bank (PNB), Union Bank, Canara Bank, Indian Bank, Bank of Baroda and State Bank of India that were part of consolidation, will not be included for privatisation (at least in the first round). According to an ET report, the Niti Aayog has kept public sector banks (PSBs) that were part of the last round of consolidation and State Bank India out of the privatisation plan.
The government will soon take a call on the two banks and one general insurer that will be taken up for privatisation in the next fiscal year.
Read more about PSU banks tumble following nationwide strike by employees on Business Standard. Shares of eight PSU banks declined on Monday as employees of PSU banks have gone on a nationwide strike to protest against the proposed privatization of two state-owned lenders.