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KV Kamath emphasizes the need for correction in NIMs and a reduction in the cost-income ratio for banks to remain competitive and benefit borrowers. He believes that the financial sector will play a crucial role in India's long-term growth story. Trust and convenience are key factors that banks must focus on, along with effective execution. While the top five banks are expected to remain strong, new entrants face challenges in replicating their established base.

Mumbai: IDFC First Bank, a private sector lender, announced a net profit of Rs 715.68 crore for the October-December quarter of the financial year 2023-24, growing 18.37 percent from Rs 605 crore in the corresponding period of the previous year.

Mumbai: IDFC First Bank, a private sector lender, announced a net profit of Rs 715.68 crore for the October-December quarter of the financial year 2023-24, growing 18.37 percent from Rs 605 crore in the corresponding period of the previous year.

Reaches $397m in Dec, as imports reduced to $4.09b, remittances reached $2.38b

The forex market displayed relative tranquility in Asian session, with major currencies confined to tight ranges. This subdued atmosphere reflects a degree of stabilization in investor sentiment, mirrored in the performance of major Asian stock indexes which are either experiencing mild recoveries or registering only slight losses. A notable exception to this picture is China's Shanghai SSE, which is extending its recent decline. This persistent downturn in the Chinese market is fueled by deep-rooted pessimism about the economy after this week's economic data, and subdued expectation...