Category: Uncategorized

Mumbai, May 28 – In its latest analysis, domestic rating agency Crisil projected a decline in the banking system’s credit growth by 2 percentage points to 14 per cent for the financial year 2024-25. This slowdown is attributed to various factors including a projected lower GDP growth of 6.8 per cent, down from 7.6 per cent in FY24, along with regulatory measures implemented by the Reserve Bank of India (RBI), such as higher risk weights on unsecured loans.

Crisil pointed out that slower deposit accretion could act as a check on credit growth, acknowledging a reduction in the differential between deposit and credit growth over the past year. Despite witnessing a robust 16 per cent growth in bank credit during FY 2024-25, excluding the impact of the HDFC merger, the agency anticipates a tempering of growth in the upcoming fiscal year due to a high base effect, revised risk weights, and slightly lower GDP growth.

However, Crisil emphasized that the fundamental drivers of credit demand remain intact. It anticipates a potential revival in private corporate capital expenditure (capex), particularly in the latter half of fiscal 2025, which could bolster credit growth. The corporate segment, which constitutes 45 per cent of overall loans, is expected to maintain a growth rate of 13 per cent in FY25.

In contrast, retail growth is anticipated to decelerate to 16 per cent from 17 per cent in FY24. While retail will continue to be the fastest-growing segment for banks, the agency foresees a slowdown in unsecured consumer credit growth due to regulatory stipulations and banks’ efforts to fortify underwriting processes to mitigate potential delinquencies.

Crisil’s senior director, Ajit Velonie, highlighted that sectors such as steel, cement, pharmaceuticals, electronics, semiconductors, electric vehicles (EVs), and solar modules are expected to drive the capex recovery, particularly over the medium-term.

The agency also projected a drop in credit growth for the Micro, Small, and Medium Enterprises (MSME) segment, estimating a decline to 15 per cent from 19 per cent in FY24. Additionally, agricultural credit growth is anticipated to be linked to monsoon trends, with a moderation expected following a robust fiscal year in 2024.

“Tabrez Khan and his wife Farah are undergoing treatment at 92 Base Hospital of the Army. They are both stable and their condition is improving,” an official said.
While Farah was hit by a bullet in the shoulder, Tabrez sustained more grievous injuries as a bullet had hit his face, the official said.
The incident took place on Saturday night when the couple, hailing from Rajasthan, who were on their first visit to Kashmir along with their two kids, were alighting from a bus to have dinner at Yanner in Pahalgam.
The couple suffered injuries when motorcycle-borne terrorists opened fire on them.
”They (couple) visited Pahalgam during the day and were going to a hotel for dinner. They were going inside a hotel for dinner after alighting from a Tempo traveller. Two men riding a bike came and opened fire. Farha got a bullet injury on the shoulder. Their two children were also with them,” Tabrez’s father Aslam Khan told reporters in Jaipur.

Qazigund recorded a minimum of 10.2°C against 10.8°C on the previous night and it was 0.1°C above normal for the gateway town of Kashmir, he said.
Pahalgam recorded a low of 6.5°C against 6.1°C on the previous night and it was above normal by 0.3°C for the famous resort in south Kashmir.
Kokernag, also in south Kashmir, recorded a minimum of 9.7°C against 10.8°C and it was 0.3°C below normal, the official said.
Kupwara town recorded a minimum of 9.6°C against 11.0°C on the previous night and it was below normal by 0.7°C for the place, the official said.
Gulmarg recorded a minimum of 8.0°C, same as on the previous night and it was above normal by 1.3°C for the world famous skiing resort in north Kashmir’s Baramulla district.
Jammu, he said, recorded a low of 25.1°C against 25.7°C on the previous night and it was above normal by 0.7°C for the winter capital of J&K. Banihal recorded a low of 13.0°C, Batote 15.8°C and Bhaderwah 12.6°C, he said.
Regarding the forecast, he said, generally dry weather is expected from May 20-27.
“Overall, no significant weather activity till May 27,”

Bajaj Finserv Asset Management Limited has unveiled its latest hybrid scheme, the Bajaj Finserv Multi Asset Allocation Fund, with the NFO period running from May 13th to May 27th, 2024. This innovative fund targets investors seeking stability, growth, and diversification in their investment portfolios.

Key Highlights of the Scheme:

1. Investment in High Dividend-Paying Companies: The fund prioritizes companies with a history of high dividend payouts, indicating stable business models and accountable management practices.
2. Mitigation of Market Volatility: By diversifying across multiple asset classes, including equities, debt, and gold, the fund aims to cushion against market volatility, offering investors a smoother investment journey.
3. Equity Taxation Benefits: Investors can potentially optimize returns by benefiting from equity taxation on their investments.
4. Versatility for All Market Conditions: The fund is designed to adapt to various market scenarios, making it suitable for both bullish and bearish market conditions.

Advantages of Investing in Dividend-Paying Companies:

1. Stable Business Model: Companies with consistent dividend payments typically have stable revenue streams and strong fundamentals, reducing investment risk.
2. Sustainable Growth: Dividend payments reflect the company’s ability to generate profits consistently, signaling sustainable growth prospects.
3. Low Volatility: Dividend-paying stocks tend to be less volatile, providing stability during market downturns.
4. Compounding Growth: Reinvesting dividends can accelerate wealth accumulation through compounding, facilitating long-term wealth creation.

Target Investors:

1. Stability Seekers: Investors prioritizing capital preservation and seeking lower fluctuations in their investment journey can benefit from the fund’s diversified approach.
2. Those Seeking Professional Asset Allocation: The fund offers expert asset allocation across various asset classes, relieving investors of the burden of managing multiple investments themselves.
3. Long-Term Investors: Individuals aiming for long-term wealth creation can leverage the potential of dividend-paying companies and the compounding effect of reinvested dividends.
4. First-Time Equity Investors: Novice investors entering the equity markets can benefit from the fund’s diversified exposure, mitigating risks associated with individual stock selection.

In conclusion, the Bajaj Finserv Multi Asset Allocation Fund offers a compelling investment opportunity for investors seeking stability, growth, and diversification in their portfolios. With its focus on dividend-paying companies and strategic asset allocation, the fund aims to deliver sustainable returns across various market conditions, catering to investors with different risk appetites and investment goals.

Kochi, May 10: A joint initiative between India and Oman to boost research and conservation of sharks and rays in the Arabian Sea will be launched at an upcoming workshop at ICAR-Central Marine Fisheries Research Institute (CMFRI), it was announced on Friday.

Experts from both countries will take part in the workshop which is expected to take place shortly, here, which will take up the collaborative research works and capacity building in elasmobranch research.

CMFRI Director, Dr A. Gopalakrishnan said the upcoming workshop is a joint venture between the CMFRI and the Marine Science and Fisheries Centre of Oman’s Directorate General of Fisheries Research as part of a research linkage between the two countries.

“The workshop will lay the foundation for a collaborative future in marine research between the two countries and open avenues for regional management and conservation of iconic resources such as sharks and rays in the Arabian Sea,” he said

We hope that the collaboration will extend further to other important resources such as tunas, as well as other areas in marine fisheries research, including mariculture and biotechnology,” he added.

The CMFRI is the national marine scientific authority for CITES (Convention on International Trade in Endangered Species of Wild Fauna and Flora).

The institute has been running a dedicated research programme on sharks and rays in Indian waters for over a decade, leading to the development of policy advisories, conservation plans and species-specific databases on several shark and ray species of the Indian EEZ.

During the workshop, participants from both countries will share their knowledge and experience of working with sharks and rays in their respective regions.

The research team from Oman will be headed by Dr Khalfan Al Rashdi, Director of the Aquaculture Centre, Directorate General of Fisheries Research, and also the leader of the Rays Project of Oman.

The Indian research team will be headed by Dr Shoba Joe Kizhakudan, Head of the Finfish Fisheries Division and Principal Investigator of CMFRI’s national project on elasmobranch.

The workshop is coordinated by the India-Shark & Ray Lab of the Finfish Fisheries Division of the CMFRI.

New Delhi, Apr 28 : Actor-singer Diljit Dosanjh has scripted history by selling out the “largest ever Punjabi show outside India” on the North American leg of his ‘Dil-Luminati Tour’.
Kicking off his tour on Saturday night, Dosanjh regaled over 50,000 concert goers at the BC Place stadium in Vancouver, Canada, with songs such as “GOAT”, “5 Taara”, “Lover”, “Kinni Kinni”, and “Ishq Mitaye”, the popular track from his latest film release “Amar Singh Chamkila”.
The singer shared a series of pictures and videos from the show on his Instagram page on Sunday.
“HISTORY HAS BEEN WRITTEN. BC PLACE STADIUM SOLD OUT. DIL-LUMINATI TOUR,” he captioned the post.
In a video, the general manager of BC Place can be seen handing over a congratulatory plaque to Dosanjh for the “largest ever Punjabi show outside India”.
It was the first time in history that a Punjabi music superstar headline the Vancouver-based arena, according to Canadian media reports.
Dosanjh also shared a video on his Instagram Stories showing a massive billboard of his show with “Sold Out” written across.
“HISTORY is made. Take a bow, @diljitdosanjh,” said BC Place in a post on X.
As part of his tour, Dosanjh will now head to Calgary, Winnipeg, and Edmonton in Canada, before heading to the US. He will end the North American leg of his trek in Toronto on July 13.