The process of securing loans in India has become much smoother compared to decades ago. Today, when you apply for a loan, banks monitor your credit activities, including the number of loans you take, the amounts, the types of loans, and your repayment habits. All these factors contribute to understanding your credit behavior.
In the full Budget presented today by Finance Minister Nirmala Sitharaman, the government has set its fiscal deficit target at 4.9% of GDP for the financial year 2024-25. This target is lower than the 5.1% projected in the interim budget in February and is closer to the 4.5% target set for 2025-26.
In a significant move, resident Indians can now open foreign currency accounts at GIFT City under the Liberalized Remittance Scheme (LRS). This update, announced recently, allows for a broader range of transactions and has substantial implications for individual residents.
Indian Prime Minister Narendra Modi earned a narrow victory in the election results declared last week, sparking a roller-coaster 48 hours for Indian equity markets.
Kotak Mahindra Bank, once known for its innovative approach and aggressive growth trajectory, has faced a series of setbacks in recent months. Previously lauded for its customer-centric services and strong financial performance, the bank now finds itself grappling with leadership exits and regulatory action from the Reserve Bank of India (RBI). This article will delve into these recent challenges, analyze their potential impact, and explore the road ahead for Kotak Mahindra Bank.