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Foreign investors have withdrawn nearly Rs 20,000 crore from Indian stock markets in just five trading days (November 4–8), continuing a trend of large-scale selling that began last month. Experts say investors are now moving their money to China, largely due to the high valuations presently prevailing in Indian markets. In early November, FPIs have offloaded as much as Rs 19,994 crore in Indian markets. The month prior, i.e., October, was one of the worst months in terms of foreign outflows, with FPIs making a net withdrawal of Rs 94,017 crore. Before this, Indian markets faced such a situation during the pandemic, when FPIs withdrew Rs 61,973 crore from equities in March 2020. <h2>Why Are Investors Leaving? </h2>According to Himanshu Srivastava of Morningstar Investment Research India, two main factors are driving this exodus. First is China's renewed appeal due to lower stock valuations and new economic stimulus measures. In a bid to nudge the domestic economy and bail state governments, China recently approved a 10-trillion yuan (US $1.4 trillion) package. Per reports, approximately 60% of this stimulus focuses on allowing local governments to refinance the mountain of debt on them. Srivastava explains foreign investors are also flocking to US dollar and Treasury yields, which have appreciated significantly in the recent past, leading FPIs to anticipate a stronger US economy going ahead. Moreover, high valuations in Indian markets are discouraging foreign investors from putting more money in the economy. As a result, over the past week, the selling pressure eroded Rs 74,563 crore in market value for Reliance Industries, while Bharti Airtel and ICICI Bank lost Rs 26,274 crore and Rs 22,254 crore, respectively. The combined market valuation of six of the top 10 most-valued firms dipped by Rs 1,55,721.12 crore last week. <h2> Silver linings</h2>Despite the ongoing outflux of funds since last month, November also saw unprecedented applications of about 40–50 new FPI registrations, which are eyeing to enter the Indian market. This was due to markets SEBIs recent relaxation to NRIs, permitting them to participate up to 100% and announcing measures for ease of entry and operations in India. On the other hand, FPIs invested Rs 599 crore in the debt general limit and Rs 2,896 crore in the debt voluntary retention route (VRR) during the period under review. So far this year, FPIs have invested Rs 1.06 lakh crore in the debt market. <li class="whitespace-normal break-words"></li>Going ahead, investors will be looking for certain macroeconomic cues, which include corporate earnings reports, India's inflation (CPI) and industrial production (IIP) data on November 12, the US inflation report on November 13, and wholesale price index (WPI) data on November 14.

FPIs withdraw nearly Rs 20,000 crore from equities in the last 5 trading sessions, make a beeline for China and US

The <keyword id="21570567" type="General" weightage="100" keywordseo="credit-offtake" source="keywords">credit offtake</keyword> continued to grow at the rate of 13.9% year-on-year to reach Rs. 168.1 lakh crore for the fortnight ending July 12, 2024. However, the pace of growth was slow, a Care Edge report said. Credit offtake is a type of <keyword id="19946069" type="General" weightage="20" keywordseo="bank-credit" source="keywords">bank credit</keyword> that assists businesses in getting financing for future projects. The credit offtake increased by 14.0% year-on-year, but declined by 0.4% sequentially for the fortnight ended July 12, 2024. Over the last twelve months, credit offtake expanded by Rs. 20.4 lakh crore. The report attributed the sluggishness to the higher base effect and banks' focus on restraining the credit-to-deposit (CD) ratio. <keyword id="20218853" type="General" weightage="20" keywordseo="deposits" source="keywords">Deposits</keyword> grew by 11.3 % year-on-year for the fortnight, including the impact of the HDFC merger, reaching Rs. 211.8 lakh crore, driven by growth in time deposits. "The <keyword id="20575555" type="General" weightage="20" keywordseo="credit-to-deposit" source="keywords">Credit to Deposit</keyword> ratio stood at 79.4 % for the fortnight (July 12, 2024). Meanwhile, if we study the credit and deposit inflows over the past 3 months and 6 months, we can observe that credit offtake has lagged the deposit growth numbers. Hence, the <keyword id="20048508" type="General" weightage="20" keywordseo="CD-ratio" source="keywords">CD ratio</keyword> derived from these flows from January would be around 70% and from March would be approximately 54%," the report added. The report added that going forward, bank credit offtake could face challenges, and is likely to be tepid for the entire year. Inflows over the past three and six months show credit offtake at 5.3% for six months and 2.3% for three months, lagging behind deposit growths of 6.0% and 3.4% respectively. Deposits rose by 11.3% year-on-year for the fortnight, but declined by 0.5 % sequentially. In absolute terms, deposits expanded by Rs. 23.9 lakh crore over the last twelve months. The report anticipated that the deposit is expected to be strong in FY25, as banks focus on strengthening their liability franchise, sourcing funds through certificates of deposit, despite higher costs. As per the data in the report, the absolute growth in credit offtake was Rs. 8.4 lakh crore for six months, and Rs. 3.8 lakh crore for three months, lagging behind deposit growth of Rs. 11.9 lakh crore and Rs. 7.0 lakh crore for the same periods. The CD ratio has floated around 80 % since September 2023, standing at 79.4 % for the fortnight ending July 12, 2024, as per the report.

Credit offtake expanded by Rs. 20.4 lakh crore, deposits by Rs 23.9 lakh crore over the last 12 months

<div type="image" title="Are Indians depositing less money in banks, or more in mutual funds? Turns out, it&amp;#39;s neither of those." msid="113663806" hostid="261" sizebytes="1121785"></div> Over the past few months, there’s been a lot of brouhaha about the lagging pace of <keyword id="20202062" type="General" weightage="20" keywordseo="bank-deposits" source="keywords">bank deposits</keyword> in India. Simply put, the rate at which Indians are depositing their hard-earned money in banks has been falling constantly, and some blame the increasing financialisation of <keyword id="20751315" type="General" weightage="20" keywordseo="household-savings" source="keywords">household savings</keyword> in the country or the rising preference of Indians towards <keyword id="19929240" type="General" weightage="20" keywordseo="mutual-funds" source="keywords">mutual funds</keyword> and shares. So, the hypothesis is that people are choosing to invest more in mutual funds and the Indian <keyword id="19949641" type="General" weightage="20" keywordseo="equity-markets" source="keywords">equity markets</keyword> through direct investments, IPOs, or NFOs, the money flowing into Indian banks in the form of deposits is slowing down. But is that really the case? <h2>A crisis or a phase?</h2><keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords" meta.keywordsubtype="org" meta.entityname="RBI" meta.hostid="261" meta.entityid="RBI">RBI</keyword> data suggested that for the quarter ended June 2024, bank deposits grew at 11.7%. On the other hand, credit growth has outpaced this at 15%. This means that the outflow from banks as loans is far greater than the inflow into them in the form of deposits in Q1 of FY 2024-25. The situation largely saw cut-copy-paste in the first week of September as well, with loans registering a 13.3% YoY growth during the period, while deposits rose only 11.1%. This gap has only been widening for the last 3 years. Since deposits are how banks gather assets to further lend and earn interest income as a consequence, even a slight dip could set the alarm bells ringing for banks, and rightfully so. And truth be told, mutual funds are indeed taking on bank deposits in a big way. Per a report by Franklin Templeton, in August 2024, the AUM (assets under management) of Indian mutual funds, or the total funds managed by them, stood at 31.3% of total bank deposits in the country, up from 24.20% during the year-ago period. As of August 2024, the AUM of mutual funds stood at Rs 66.17 lakh crore, an all-time high. But all said and done, is this really the reason why the rate of bank deposits is falling behind? SBI has dismissed this to be a “statistical myth”, and experts point out that since equity and fund houses also keep the cash in their respective bank accounts, there’s no cause for concern. So, is financialization really to be blamed for the trailing tempo of deposits? Or is something else happening behind the scenes? We take a closer look: <h2>First, are household deposits really slowing down? And is that a cause of concern?</h2>Data from Motilal Oswal suggests the contrary. Deposits grew by around 10.4% between March 2020 and August 2024. Data from RBI also highlights that as of August 9, 2024, bank deposits witnessed a YoY growth of 10.8%. The loan-to-deposit ratio for the retail segment, which indicates what percentage of its total deposits the banks lend out as loans, has stayed at 77.5%, above the 77% mark for the tenth straight month. <div type="image" title="Yes, household deposits (as % of total deposits) have dipped, but the drop is far from significant" msid="113663882" hostid="261" sizebytes="306706"></div> Also, we can’t forego the fact that the share of Indian households in bank deposits has indeed slowed down. However, data from Axis AMC shows that the dip is marginal—from 63% in 2022 to 62% in 2023 and 61% in 2024. What has slowed down even more considerably is the share of government deposits in the aggregate bank deposits, which has dipped from 14% in 2018 to 9% in 2024. So, it's not just household deposits, you see. Moreover, as of March 2024, the collective CASA ratio (current and <keyword id="114757" type="General" weightage="20" keywordseo="savings-account" source="Orion">savings account</keyword> deposits) of all commercial banks in India stood at 41.00%, down from 43.1% in March 2023 and 45.2% in March 2022, marking a nearly 5% point decline over the past year, while still staying over the 10-year average of 39.2%. This implies that Indian banks are relying more on higher-cost funds (savings accounts), which can limit their profitability. <h2>What is this financialisation of savings we are talking about?</h2>Then again, there is no doubt about the growing affinity of Indians towards mutual funds and stock markets. Recent data from CBDT (Central Board of Direct Taxes) highlights that India’s net direct tax collection surged by around 22%, driven exclusively by the significant uptick in the collection of Securities Transaction Tax (STT), which doubled to Rs 26,154 crore, from Rs 13,352 crore in the year-ago period. Why does this matter? STT is levied when you buy or sell equity shares on stock exchanges, sell <keyword id="6361918" type="General" weightage="20" keywordseo="equity-mutual-funds" source="Orion">equity mutual funds</keyword>, and trade in futures and options in the equity segment. Such taxes, including the multiple other taxes in equity market investments, are considered as leakages as the money moves out of the economy into government coffers. Data from a ValueQuest report explains that over the last 20 years, the markets have handsomely rewarded the investors, generating over $900 billion in incremental value for them. This is the major driver behind the dramatic rise in investment flowing towards the equity markets. There’s further proof of this budding romance, if you check the demat pudding. The number of demat accounts, which are a primary requisite for participating in the stock markets, also burgeoned by 42.3 lakh in August 2024, taking India’s total tally of demat accounts beyond 17 crore. To put this in perspective, this is almost equivalent to the population of just 8 nations in the world, including China, the US, Brazil and more. Vivek Iyer, Partner, Grant Thornton Bharat thinks it's rather important, as well. “Financialisation of household savings in India is an indication of deepening capital markets in the market, especially from a retail investor standpoint. Bank deposits with a modest rate of return are no longer the only option for savings for investors. Investors today have more avenues for wealth creation in the form of public capital markets, which have democratized wealth creation and provided equality of opportunity to retail investors”, he says. Yes, Indians are investing more and more in the markets, and in mutual funds. But is it a sin to look out for inflation-beating returns, which the stock markets offer, and vanilla bank deposits don't? After all, the allure of 12-13% annual returns offered by <keyword id="45369" type="General" weightage="20" keywordseo="equities" source="Orion">equities</keyword> can certainly pale the stability offered by good old deposits, which generally do not go beyond 9% when it comes to annual returns. But all of this is not what is behind the slowdown. India is still a toddler in the school of savings financialization, with less than 10% of the population holding a demat account, and less than 5% of us saving in equities. That's a drop in the ocean of deposits, far inadequate to trigger a tsunami. <h2>Tell me why lagging deposits have nothing to do with Indians investing more in mutual funds!</h2>Says Shweta Rajani, Head - Mutual Funds, Anand Rathi Wealth Limited, “Households' equity holdings composition grew from 11.1% in FY 23 to 14.7% in FY 24. This trend reflects a growing awareness of investment options, empowering individuals to take control of their financial futures. Despite this transition towards equities, banks still hold a significant share of household financial savings—33.5% in FY24 compared to 34.9% in FY23”. Also, household savings and their subsequent financialization do not have much to do with deposit creation, which is entirely made by banks. What actually drives increased deposits is credit growth or increased lending. When interest rates are eased, people tend to borrow more and spend more, which circulates more money in the economy. For the past 4 years, RBI has been tightening the screws on interest rates, which raises the cost of borrowings, and makes it more expensive to take loans, putting a dampener on credit growth, but effectively curbing inflationary pressures. The last time RBI cut the repo rate by 40 basis points was back in May 2020, 4 years ago. The lag in <keyword id="19998084" type="General" weightage="100" keywordseo="deposit-growth" source="keywords">deposit growth</keyword> we’re witnessing is almost 3 years old. Coincidence much, or just good old economics at work? But with the Fed recently setting a rate cut precedent by slashing 50 bps off its interest rate, RBI is expected to follow suit in the next MPC (Monetary Policy Committee) meeting, scheduled for November 2024. A rate cut would ease the aforementioned high cost of borrowing, and increase loan-taking for corporates and institutional investors, thereby stoking consumption in the economy. And then, deposit creation in banks is likely to return to its former glory. If not, then that would be a curious case to unravel! But that worry is for another day. Do you have insights or personal experience to share on your personal finances or money? Contact us at <a target="_blank" class="c-link" href="mailto:businessinsider@timesinternet.in">businessinsider@timesinternet.in</a>.

Simply Put: A Deposit Dilemma — What's the fuss about a crisis in Indian bank deposits? Are mutual fund investments to blame?

Over the past few months, there’s been a lot of brouhaha about the lagging pace of bank deposits in India. Simply put, the rate at which Indians are depositing their hard-earned money in banks has been falling constantly, and some blame the increasing financialization of household savings in the country, or the rising preference of Indians towards mutual funds and shares. So, the hypothesis is that people are choosing to invest more in mutual funds and the Indian equity markets through direct investments, IPOs, or NFOs, the money flowing into Indian banks in the form of deposits is slowing down. But is that really the case? <h2>A crisis or a phase?</h2><keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword> data suggested that for the quarter ended June 2024, bank deposits grew at 11.7%. On the other hand, credit growth has outpaced this at 15%. This means that the outflow from banks as loans is far greater than the inflow into them in the form of deposits in Q1 of FY 2024-25. The situation largely saw cut-copy-paste in the first week of September as well, with loans registering a 13.3% YoY growth during the period, while deposits rose only 11.1%. This gap has only been widening for the last 3 years. Since deposits are how banks gather assets to further lend and earn interest income as a consequence, even a slight dip could set the alarm bells ringing for banks, and rightfully so. And truth be told, mutual funds are indeed taking on bank deposits in a big way. Per a report by <keyword id="20250971" type="General" weightage="20" keywordseo="franklin-templeton" source="keywords">Franklin Templeton</keyword>, in August 2024, the AUM (assets under management) of Indian mutual funds, or the total funds managed by them, stood at 31.3% of total bank deposits in the country, up from 24.20% during the year-ago period. As of August 2024, the AUM of mutual funds stood at Rs 66.17 lakh crore, an all-time high. But all said and done, is this really the reason why the rate of bank deposits is falling behind? SBI has dismissed this to be a “statistical myth”, and experts point out that since equity and fund houses also keep the cash in their respective bank accounts, there’s no cause for concern. So, is financialization really to be blamed for the trailing tempo of deposits? Or is something else happening behind the scenes? We take a closer look: <h2>First, are <keyword id="4000333" type="General" weightage="100" keywordseo="household-deposits" source="Orion">household deposits</keyword> really slowing down? And is that a cause of concern?</h2>Data from Motilal Oswal suggests the contrary. Deposits grew by around 10.4% between March 2020 and August 2024. Data from RBI also highlights that as of August 9, 2024, bank deposits witnessed a YoY growth of 10.8%. The loan-to-deposit ratio for the retail segment, which indicates what percentage of its total deposits the banks lend out as loans, has stayed at 77.5%, above the 77% mark for the tenth straight month. Also, we can’t forego the fact that the share of Indian <keyword id="20319599" type="General" weightage="20" keywordseo="households" source="keywords">households</keyword> in bank deposits has indeed slowed down. However, data from Axis AMC shows that the dip is marginal—from 63% in 2022 to 62% in 2023 and 61% in 2024. What has slowed down even more considerably is the share of government deposits in the aggregate bank deposits, which has dipped from 14% in 2018 to 9% in 2024. So, it's not just household deposits, you see. Moreover, as of March 2024, the collective CASA ratio (current and savings account deposits) of all commercial banks in India stood at 41.00%, down from 43.1% in March 2023 and 45.2% in March 2022, marking a nearly 5% point decline over the past year, while still staying over the 10-year average of 39.2%. This implies that Indian banks are relying more on higher-cost funds (savings accounts), which can limit their profitability. <h2>What is this financialisation of savings we are talking about?</h2>Then again, there is no doubt about the growing affinity of Indians towards mutual funds and stock markets. Recent data from CBDT (<keyword id="19942037" type="General" weightage="20" keywordseo="central-board-of-direct-taxes" source="keywords">Central Board of Direct Taxes</keyword>) highlights that India’s net direct tax collection surged by around 22%, driven exclusively by the significant uptick in the collection of <keyword id="20930760" type="General" weightage="20" keywordseo="securities-transaction-tax" source="keywords">Securities Transaction Tax</keyword> (STT), which doubled to Rs 26,154 crore, from Rs 13,352 crore in the year-ago period. Why does this matter? STT is levied when you buy or sell equity shares on stock exchanges, sell equity mutual funds, and trade in futures and options in the equity segment. Such taxes, including the multiple other taxes in equity market investments, are considered as leakages as the money moves out of the economy into government coffers. Data from a ValueQuest report explains that over the last 20 years, the markets have handsomely rewarded the investors, generating over $900 billion in incremental value for them. This is the major driver behind the dramatic rise in investment flowing towards the equity markets. There’s further proof of this budding romance, if you check the demat pudding. The number of demat accounts, which are a primary requisite for participating in the stock markets, also burgeoned by 42.3 lakh in August 2024, taking India’s total tally of demat accounts beyond 17 crore. To put this in perspective, this is almost equivalent to the population of just 8 nations in the world, including China, the US, Brazil and more. Vivek Iyer, Partner, Grant Thornton Bharat thinks it's rather important, as well. “Financialisation of household savings in India is an indication of deepening capital markets in the market, especially from a retail investor standpoint. Bank deposits with a modest rate of return are no longer the only option for savings for investors. Investors today have more avenues for wealth creation in the form of public capital markets, which have democratized wealth creation and provided equality of opportunity to retail investors”, he says. Yes, Indians are investing more and more in the markets, and in mutual funds. But is it a sin to look out for inflation-beating returns, which the stock markets offer, and vanilla bank deposits don't? After all, the allure of 12-13% annual returns offered by equities can certainly pale the stability offered by good old deposits, which generally do not go beyond 9% when it comes to annual returns. But all of this is not what is behind the slowdown. India is still a toddler in the school of savings financialization, with less than 10% of the population holding a demat account, and less than 5% of us saving in equities. That's a drop in the ocean of deposits, far inadequate to trigger a tsunami. <h2>Tell me why lagging deposits have nothing to do with Indians investing more in mutual funds!</h2>Says Shweta Rajani, Head - Mutual Funds, Anand Rathi Wealth Limited, “Households' equity holdings composition grew from 11.1% in FY 23 to 14.7% in FY 24. This trend reflects a growing awareness of investment options, empowering individuals to take control of their financial futures. Despite this transition towards equities, banks still hold a significant share of household financial savings—33.5% in FY24 compared to 34.9% in FY23”. Also, household savings and their subsequent financialization do not have much to do with deposit creation, which is entirely made by banks. What actually drives increased deposits is credit growth or increased lending. When interest rates are eased, people tend to borrow more and spend more, which circulates more money in the economy. For the past 4 years, RBI has been tightening the screws on interest rates, which raises the cost of borrowings, and makes it more expensive to take loans, putting a dampener on credit growth, but effectively curbing inflationary pressures. The last time RBI cut the repo rate by 40 basis points was back in May 2020, 4 years ago. The lag in deposit growth we’re witnessing is almost 3 years old. Coincidence much, or just good old economics at work? But with the <keyword id="19900043" type="General" weightage="20" keywordseo="fed" source="keywords">Fed</keyword> recently setting a rate cut precedent by slashing 50 bps off its interest rate, RBI is expected to follow suit in the next <keyword id="19918491" type="General" weightage="20" keywordseo="mpc" source="keywords">MPC</keyword> (Monetary Policy Committee) meeting, scheduled for November 2024. A rate cut would ease the aforementioned high cost of borrowing, and increase loan-taking for corporates and institutional investors, thereby stoking consumption in the economy. And then, deposit creation in banks is likely to return to its former glory. If not, then that would be a curious case to unravel! But that worry is for another day.

A Deposit Dilemma — What's the fuss about a crisis in Indian bank deposits? Are mutual fund investments to blame?

<ul><li>Reserve Bank of India governor Shaktikanta Das today announced that users will soon be able to deposit cash using <keyword id="6358921" type="General" weightage="20" keywordseo="upi" source="Orion">UPI</keyword> at ATMs.</li><li>Users will also be able to make UPI payments via PPI wallets through third-party apps.</li><li>The governor-led MPC also proposed the launch of a dedicated mobile app for retail investors to access the G-sec market.</li></ul>Forgot to carry your debit card while visiting the ATM? Don’t worry, the Reserve Bank of India (RBI) understands your pain. On Friday, RBI governor Shaktikanta Das announced that bank account holders will soon be able to deposit money at ATMs using UPI, or Unified Payments Interface. Earlier, in January, RBI had announced that it would allow users to withdraw cash from ATMs using UPI. At the moment, cash deposits at ATMs can be done via two methods – using debit cards and manually entering the savings account number. Das announced RBI’s latest Monetary Policy Committee (MPC) meeting, where the central bank left the key repo rate unchanged. <cmsannotation type="cmsannotation" annotationid="Enhancing UPI features" comment="subhead" text="Enhancing UPI features">Enhancing UPI features</cmsannotation> Thanks to UPI’s widespread use, RBI has been expanding its features to include various options from setting autopay instructions for bill payments to creating mandates for IPO applications and more. After the previous MPC meet in January, RBI governor announced that cash withdrawals would be made possible through UPI ATMs. “This measure will further enhance customer convenience and make the currency handling process at banks more efficient,” said Das. In addition to this, RBI also announced that it will allow the use of third-party UPI apps for making UPI payments via prepaid payment instrument (PPI) wallets, like Paytm and GooglePay. With today’s announcement, the central bank looks keen on slowly but steadily replacing debit cards with UPI. <a href="https://www.businessinsider.in/business/news/size-does-matter-debit-cards-for-large-payments-upi-for-smaller-ones/articleshow/109002682.cms">Recent reports suggest that</a>, while UPI usage is growing exponentially, people continue to use Debit Cards, especially for large payments. <cmsannotation type="cmsannotation" annotationid="New app for G-sec market" comment="subhead" text="New app for G-sec market">New app for G-sec market</cmsannotation> RBI’s aim with this is to make it more convenient to use digital payments for small-value transactions. Lastly, the MPC also proposed the launch of a dedicated mobile app to access the Retail Direct portal. Das believes this will enhance convenience to retail investors and improve the reach of the government securities (G-sec) market. RBI launched the Retail Direct scheme in 2021 to make it possible for retail and individual investors to participate in the government securities market. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/markets-trade-flat-after-rbi-mpc-leaves-repo-rate-unchanged-at-6-5/articleshow/109055645.cms">Status quo: Markets trade flat after RBI MPC leaves repo rate unchanged at 6.5%</a> <a href="https://www.businessinsider.in/finance/news/rbis-mpc-keeps-rates-unchanged-to-be-actively-disinflationary/articleshow/109053104.cms">We want the elephant of inflation to walk back to the forest: Shaktikanta Das</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-add-nearly-5-million-subscribers-in-january-2024/articleshow/109040220.cms">Reliance Jio and Airtel add nearly 5 million subscribers in January 2024</a>

Not just withdraw, you can soon deposit cash using UPI at ATMs, promises RBI

Earlier today, RBIs MPC (Monetary Policy Committee) decided to leave the <keyword id="20094323" type="General" weightage="100" keywordseo="repo-rate" source="keywords">repo rate</keyword> unchanged at 6.5%, while changing the policy stance toward neutral. The aim, as <keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords" meta.keywordsubtype="org" meta.entityname="RBI" meta.hostid="261" meta.entityid="RBI">RBI</keyword> maintained, was to strike a balance between taming domestic <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">inflation</keyword> and maintaining target growth. A neutral stance gives the RBI the flexibility to adjust <keyword id="19950650" type="General" weightage="20" keywordseo="interest-rates" source="keywords">interest rates</keyword> based on the direction of inflation, as opposed to its previous stand of withdrawing accommodation, which eliminates any possibility of rate cuts. While a change of stance doesn’t necessarily mean a cut should follow, most experts view this as a prelude to a possible rate cut in December this year, or even February next year. Says Deepak Ramaraju, Senior Fund Manager, Shriram AMC, "The RBI stance has changed to neutral, indicating that its primary focus is to balance growth and inflation. Growth has been resilient and given the short-term pressure on inflation, RBI may continue to hold interest rates unchanged in Q3 FY 2025. Based on inflation moderating below 4.5% and course of geo-political concerns, the RBI may undertake a rate cut decision in Q4 FY 2025". So, what does this mean for your investments? How will this decision impact your existing funds? We take a look. <h2>Good time to invest in high-yield deposits</h2>This is a good time to invest in high-yield <keyword id="19975805" type="General" weightage="20" keywordseo="fixed-deposits" source="keywords">fixed deposits</keyword> and long-term bonds. That's because with rate cuts imminent in the upcoming quarters, you'd be able to lock-in your funds with the prevailing, relatively higher interest rate right now. As for the yellow metal or gold, it is generally considered a safe haven asset during turbulent market times. That's why you should consider making it a part of your investments, or increasing its weightage in your overall portfolio, depending on your needs. Vijay Kuppa, CEO, InCred Money highlights that with deposit rates at elevated levels, one has an ideal opportunity for locking in high-yield fixed deposits."At the same time, high borrowing costs also make a compelling case for increasing debt allocations in investment portfolios, which offer a buffer against potential equity market corrections, which might occur due to <keyword id="19955176" type="General" weightage="20" keywordseo="geopolitical-tensions" source="keywords">geopolitical tensions</keyword>", he continues. With the chronic crisis in Middle-East flaring up again, as Israel looks to target Lebanon and Iran, you can expect some volatility and downturns in the <keyword id="19949641" type="General" weightage="20" keywordseo="equity-markets" source="keywords">equity markets</keyword>, both in India and globally, in the times to come. Over the last 5 days, Sensex has dipped by over 1,900 points, or about 2.38%, and Nifty has also gone down by 2.23%. With this set to continue for some time, you can reconsider and evaluate your investments in debt. Mahendra Kumar Jajoo, CIO – Fixed Income, Mirae Asset Investment Managers (India) explains that the market is confident of a rate cut in the times to come, and that the <keyword id="20066775" type="General" weightage="20" keywordseo="bond-market" source="keywords">bond market</keyword> has already started pricing in the same. "We have already seen some of this already, with 10Y GOI yields at around 6.75%, having already eased significantly in last few months. So, if investors wait for rate cut to invest, it may be too late for them. Also, with corporate credit picking up, investing in corporate bond funds for a period of 3-5 years can also serve the investor well. Investors having a long term investment horizon and appropriate risk appetite can also invest in gilt funds", he continues. <h2>Dont exit the markets yet </h2>Though short-term biases of FII may continue towards Chinese markets keeping pressure on the equity markets, the resilient domestic flows can defy deep corrections in the equity markets despite high valuations. The markets may trend positive with subsequent rate cuts by the US Fed later this year. Hence, it wont be advisable to completely exit the equity markets during these times, notes Avnish Jain, Head - Fixed Income, Canara Robeco Mutual Fund Jain advises to take a buy on dips approach towards the stock markets i.e. adding quality stocks to your portfolio during times of market downturn. Shrikant Chouhan, Head Equity Research, Kotak Securities says that the current market texture is volatile, hence level based trading would be the ideal strategy for the day traders. "For the bulls now, 25,050/81,700 would be the key level to watch out. Above the same market could retest the level of 25,200-25,225/82,000-82,300. On the flip side, 24,900/81,200 would be the key support zone for the traders. Below the same, the selling pressure is likely to accelerate. Below the same, market could slip till 24,800-24,780/81,000-80,700", explains Chouhan. <h2>Time to buy a home? Maybe! </h2>No rate cut can spell some good news for homebuyers who are looking to get their hands on real estate during the festive season. Even as home loan rates remain steady as of now, homebuyers may have to wait until December or beyond to get any tangible relief in their home loan EMIs. Vimal Nadar, Head of Research, Colliers India explains that a change in stance from “withdrawal of accommodation” to “neutral” indicates its clear direction for a possible reduction in interest rates in the foreseeable future. This ongoing stability in repo rate should provide a significant thrust to residential real estate during these festive months as home loan interest rates are likely to remain steady. "Typically, Q4, marked by higher inclination of homebuyers to wrap-up property purchases during the auspicious period combined with instantaneous liquidity benefit aided by developers offering attractive discounts, has historically provided the final push to housing sales across the major markets in the country", he added.

RBI leaves repo rate unchanged. What does this mean for you?

The <keyword id="20771894" type="General" weightage="20" keywordseo="Deposit-Insurance-and-Credit-Guarantee-Corporation" source="keywords" meta.keywordsubtype="org" meta.entityname="Deposit Insurance and Credit Guarantee Corporation" meta.hostid="261" meta.entityid="Deposit Insurance and Credit Guarantee Corporation">Deposit Insurance and Credit Guarantee Corporation</keyword> (<keyword id="20481418" type="General" weightage="100" keywordseo="DICGC" source="keywords">DICGC</keyword>) has launched an online tool <keyword id="23086289" type="General" weightage="20" keywordseo="Daava-Soochak" source="keywords">Daava Soochak</keyword> for <keyword id="20560967" type="General" weightage="20" keywordseo="depositors" source="keywords">depositors</keyword> to track their claim status. The DICGC's mandate since its inception has been the reimbursement of insured amounts to depositors of failed banks. Daava Soochak, a user-friendly online tool, is part of DICGC's ongoing commitment to improving the services provided for depositors. "Depositors can now track the status of their claims by entering their mobile number (registered with their bank) on the DICGC website," said DICGC, a wholly-owned subsidiary of the Reserve Bank of India (<keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword>). To begin with, depositors can view the status of their claims for banks placed under All Inclusive Directions (AID) post-April 01, 2024. The corporation ensures that all categories of deposits with banks except institutional deposits. The <keyword id="20132734" type="General" weightage="20" keywordseo="deposit-insurance" source="keywords">deposit insurance</keyword> coverage limit has been enhanced six times since 1962, from Rs 1,500 per depositor held in the same right and same capacity at all the branches of the insured bank to Rs 5,00,000 on February 04, 2020. At present, 97.8% of the total deposit accounts are fully protected. Of the remaining 2.2 % of accounts, deposits are insured up to the limit of Rs 5 lakh. In terms of value, 43.1 % of the deposits were insured as of March 2024. In the case of liquidated banks and banks under the Reserve Bank's All-Inclusive Directions (AIDs), the DICGC settled claims amounting to Rs 1,432 crore during 2023-24. During the year, it received repayments of Rs 900.73 crore, of which Rs 760.83 crore was from liquidated/transferee banks and Rs 139.90 crore from banks under AID. All banks operating in India are registered with the corporation for deposit insurance. The number of banks registered with DICGC was 1,997 as of March 31, 2024, of which 140 were commercial banks and 1,857 were cooperative banks. The total premium received by the corporation during 2023-24 stood at Rs 23,879 crore, with commercial banks contributing 94.4% and cooperative banks accounting for the remaining 5.6 %.

DICGC introduces Daava Soochak for depositors to track claim status

Investing in the stock market is the go-to answer for many who want great returns on their hard-earned money. However, not everyone is a stock market expert and people tend to look for guidance at times. And while there are many good financial advisors out there, some are fraudsters looking for a way to rob people. Thus, in times when online scams in India are on the rise, one should be cautious of who they trust with their money. Simply believing strangers on the internet could mean huge losses at times and this is exactly what happened with a Noida-based woman who wanted to make some extra money by investing in the share market via an app. <h2>Woman loses over Rs 69 lakh in <keyword id="7292336" type="General" weightage="20" keywordseo="stock-market-scam" source="Orion">stock market scam</keyword></h2>According to a report in HT, a 32-year-old woman from <keyword id="20142852" type="General" weightage="20" keywordseo="greater-noida-west" source="keywords">Greater Noida West</keyword> was defrauded of more than Rs 69 lakh by scammers posing as stock market investment advisors. This incident, which unfolded over the course of several weeks, underscores the need for heightened vigilance and cybersecurity awareness in an increasingly interconnected society. Stuti, the victim, resides with her family in Amaatra Homes, Sector 10. Her ordeal began in June when she was added to an unknown WhatsApp group that offered training on earning profits in the stock market. The group, which appeared to be legitimate, provided her with initial training sessions that built trust and credibility. The scammers, masquerading as financial experts, promised Stuti a staggering 300 percent return on investments made through a specially designed mobile application. <h2>Scammers promised high returns</h2>Encouraged by the initial promise of high returns, Stuti downloaded the fraudulent application and made her first investment of Rs 1 lakh. To her astonishment, the app showed a profit of Rs 50,000 the very next day, further enticing her to invest more. The scammers then added her and her husband to another private WhatsApp group, where they were presented with a new profit plan requiring an investment of Rs 30 lakh. Trusting the system, they invested Rs 20 lakh. On July 16, the fraudsters introduced a new scheme involving an Initial Public Offering (IPO) and the allotment of one lakh shares. They asked the couple to invest an additional Rs 1.19 crore, promising a profit of Rs 50 lakh from their recent investments. The couple, now heavily invested both financially and emotionally, were then informed that they needed to pay an additional Rs 48 lakh to secure their profits. When Stuti and her husband expressed their inability to invest further and requested to withdraw their profits, the scammers cited convoluted terms and conditions to refuse their request. Desperate to recoup their investments, the couple broke their fixed deposits, liquidated mutual funds, and borrowed money from friends and family, eventually sending a total of Rs 69.53 lakh to the fraudsters through multiple transactions. It wasn't until the couple was asked to pay an additional Rs 21 lakh in taxes and other charges that they realised they had been duped. The scammers, who had promised them a profit of Rs 4 crore, vanished, leaving the couple in financial ruin. On August 2, an FIR was registered under sections 318 (cheating and dishonesty) and 319 (cheating by personation) of the BNS, along with relevant sections of the IT Act, at the cybercrime police station. The police have launched an investigation.

Noida woman invests in stock market via an app, loses over Rs 69 lakh as it turns out to be a scam

A research report by the <keyword id="19934368" type="General" weightage="100" keywordseo="state-bank-of-india" source="keywords">State Bank of India</keyword> (SBI) highlights the continuous upward trend in credit growth in Indian <keyword id="19934118" type="General" weightage="20" keywordseo="banks" source="keywords">banks</keyword>, which is outpacing the growth of deposits. This trend persists even as Indian households have substantially increased their investments in <keyword id="19929240" type="General" weightage="20" keywordseo="mutual-funds" source="keywords">mutual funds</keyword> and equities. For the last several months, investments of over Rs 21,000 crore are being done in mutual funds. Last month, during an event, <keyword id="20151998" type="General" weightage="20" keywordseo="RBI-Governor" source="keywords">RBI Governor</keyword> <keyword id="19913110" type="General" weightage="20" keywordseo="shaktikanta-das" source="keywords">Shaktikanta Das</keyword> noted that households are opting for capital markets over banks to invest or park their savings. However, the <keyword id="20352499" type="General" weightage="20" keywordseo="SBI-report" source="keywords">SBI report</keyword> states, "Latest fortnightly credit and deposit growth number shows credit growth continues to outpace deposit, though moderated from last year growth of 16.2 percent (June'23 YoY)." Specifically, for the fortnight ending July 12, 2024 the report noted that the credit growth for All Scheduled Commercial Banks stood at 14 per cent on a year-on-year basis, while deposit growth was reported at 11.3 per cent. Furthermore, the report also served a significant increase in credit to the industrial sector, which rose from 5.1 percent in March 2023 to 8.4 percent in March 2024, and recorded 8.1 percent growth in June 2024 year-on-year. This indicates a robust demand for credit within the industrial sector. Despite big savings going towards the capital markets, banks have managed to gather an incremental deposit of Rs 7.02 lakh crore in the year-to-date (YTD) period ending July 12, 2024. In comparison, the incremental credit extended by the banks amounted to Rs 3.80 lakh crore during the same period. This discrepancy illustrates that while credit growth is substantial, deposit growth remains essential to maintain balance. Additionally, the report highlighted that banks' reliance on high-cost deposits, such as Certificates of Deposit (CDs), has more than tripled. This increase is a response to the need to match the rising credit demand, showing how banks are adjusting their funding strategies to accommodate the growing demand for loans. <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword> Governor stated last month, "While bank deposits continue to remain dominant as a percentage of the financial assets owned by the households, their share has been declining, with households increasingly allocating their savings to Mutual Funds, Insurance Funds, and Pension Funds."

Credit growth in banks continues to exceed deposits, says new SBI report

About 2.1 per cent or Rs 7,581 crore of the withdrawn Rs 2,000 <keyword id="20481528" type="General" weightage="20" keywordseo="banknotes" source="keywords">banknotes</keyword> have not yet been returned to the <keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword>, about nine months after the deadline to deposit or exchange them at bank branches was over. This essentially means 97.87 per cent of the total value of the high-value Rs 2,000 banknotes are back in the banking system by the end of June 2024, the Reserve Bank of India said in a statement on Monday. The total value of Rs 2000 banknotes in circulation was Rs 3.56 lakh crore at the close of business on May 19, 2023, the date on which RBI decided to withdraw the banknote. The last day for the public to avail of exchange or to deposit high-value Rs 2000 banknotes at the banks was October 7, 2023. However, the window for depositing and/or exchanging the Rs 2,000 banknotes continues to be available at the 19 issue offices of the RBI. Those 19 RBI issue offices are in Ahmedabad, Bangalore, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram. People from within the country can send Rs 2,000 banknotes through India Post from any post office to any of RBI Issue Offices for credit to their bank accounts in India. The Rs 2000 banknotes continue to be legal tender. The Rs 2000 banknote was introduced in November 2016, primarily to meet the currency requirements of the economy expeditiously after the <keyword id="19901049" type="General" weightage="20" keywordseo="withdrawal" source="keywords">withdrawal</keyword> of the legal tender status of all Rs 500 and Rs 1000 banknotes in circulation at that time. The objective of introducing Rs 2000 banknotes was met once banknotes in other denominations became available in adequate quantities. Therefore, the printing of Rs 2000 banknotes was stopped in 2018-19. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank">Vraj Iron and Steel IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank">Reliance Jio and Airtel price hike – new plans and how you can save money</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank">Upcoming smartphones launching in India in July 2024</a>

2.1% of ₹2,000 banknotes, with value of ₹7,581 crore, still to be returned

<ul><li>The last <keyword id="30067" type="General" weightage="40" keywordseo="rbi" source="Orion">RBI</keyword> update says that 93% of the ₹2,000 notes are back with the central bank.</li><li>The ₹2,000 notes were first introduced during the <keyword id="3315394" type="General" weightage="50" keywordseo="demonetisation" source="Orion">demonetisation</keyword> exercise.</li><li>The deadline to deposit the notes is on September 30, 2023.</li></ul> With a couple of weeks to go before the deadline to deposit ₹2,000 banknotes, e-commerce giant Amazon has said that it has discontinued accepting them. Till now, many retailers along with e-commerce players, petrol pumps and even jewellers had generously started accepting these notes after RBI withdrew them in May, without banning them. However, with the festive season upon us, fewer and fewer retailers will be accepting the mega note at shops and stores and most people with residual notes will have to hit banking channels to deposit them. As of now, 93% of these notes accounting to ₹3.32 lakh crore are back with banks, said the latest RBI update on it, released in early September. “Consequently, the value of ₹2,000 banknotes in circulation as at the close of business on August 31, 2023 stood at ₹24,000 crore,” read RBI’s statement. Most of these notes had ended up with banks, which made the banking regulator come up with a temporary measure to mop up excess liquidity from the banks in its August 10 credit policy meeting update. The RBI said that scheduled banks shall maintain an incremental cash reserve ratio (I-CRR) of 10%. The new measure had come into effect the fortnight starting August 12, and the RBI has already decided to <a href="https://www.newindianexpress.com/business/2023/sep/09/rbi-to-withdraw-incremental-crr-in-phases-by-october-7-2613205.html">withdraw ICRR in a phased manner</a>. The RBI first introduced the 2000 rupee note as part of the demonetisation exercise on November 8, 2016. Currently, this is the highest currency note in circulation. The note was introduced as the ₹500 and ₹1,000 notes were withdrawn from the system to boost currency circulation. Now, with the circulation problem a thing of the past, the note has been withdrawn. Some history of updates 2017: The Indian central bank added a new security feature -- a fluorescent strip that glows green under ultraviolet light. 2018: RBI changed the design of the note with a portrait of Mahatma Gandhi on the front and a map of India on the back. 2019: Another security feature was added: a tactile strip that can be felt by people with visual impairments.

As the deposit deadline approaches, ₹2,000 notes fade from the system

<ul><li>About ₹1.8 lakh crore of ₹2,000 banknotes have come back, said RBI governor <keyword id="6359111" type="General" weightage="80" keywordseo="shaktikanta-das" source="Orion">Shaktikanta Das</keyword> on Thursday. </li><li>Broadly about 85% of the ₹2,000 banknotes are coming back as bank deposits, he added. </li><li>The average system liquidity is in surplus mode and could increase as ₹2,000 banknotes get deposited in the banks, Das said. </li></ul>Half of India’s ₹2,000 bank notes in circulation are now with banks, said <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (RBI) on Thursday. The RBI withdrew <a href="https://www.businessinsider.in/finance/news/rbi-to-withdraw-2000-currency-notes-from-circulation-will-continue-to-be-legal-tender/articleshow/100360976.cms">these banknotes on May 19</a> but unlike the demonetisation of ₹500 and ₹1,000 notes earlier, they continue to remain legal tender, and can be exchanged or deposited at banks till September 30. According to RBI, ₹3.62 lakh crore of ₹2000 banknotes were in circulation as of March 31. “After the announcement, about ₹1.8 lakh crore of ₹2,000 banknotes have come back. This is roughly about 50% of the ₹2,000 banknotes, which were in circulation on 31st March...so 50% of the banknotes have come back,” said Shaktikanta Das, the governor of RBI speaking to reporters <keyword id="6375120" type="General" weightage="50" keywordseo="monetary-policy-committee" source="Orion">Monetary Policy Committee</keyword> decision announcement, where the repo rate has been <a href="https://www.businessinsider.in/finance/news/rbi-mpc-holds-interest-rate-as-expected-but-stance-maintained-at-withdrawal-of-accommodation/articleshow/100839034.cms">kept unchanged at 6.5%</a>. Das also added that they are still working out as to how much of the ₹2,000 notes has come in as deposits and how much of it was exchanged for other bank notes. “That figure needs reconciling but broadly on a provisional basis about 85% are coming back as deposits into bank accounts,” Das said. Boost for banks Das mentioned in his speech that the note withdrawal could aid deposits. “The average system liquidity, however, is still in surplus mode and could increase as ₹2,000 banknotes get deposited in the banks,” he said. A <keyword id="152996" type="General" weightage="50" keywordseo="kotak-institutional-equities" source="Orion">Kotak Institutional Equities</keyword> report meanwhile said that it expects as much as ₹1.5-2 lakh crore to make its <a href="https://www.businessinsider.in/finance/news/bank-deposits-gold-sales-real-estate-to-get-a-boost-with-2000-note-withdrawal-kotak/articleshow/100429411.cms">way into banks as deposit</a>s, both directly and indirectly. Reports have said that most people are attempting to spend the notes as well by <a href="https://www.businessinsider.in/finance/news/bank-deposits-gold-sales-real-estate-to-get-a-boost-with-2000-note-withdrawal-kotak/articleshow/100429411.cms">purchasing gold, consumer goods</a> and more – which too is expected to make its way to the banks. “Durable liquidity could increase by around ₹1 lakh crore depending on the behaviour of depositors. This should ease the credit-deposit ratio across banks,” said a report by Kotak Institutional Equities released in May. About 64% of the LocalCircles survey respondents said that they do not hold notes in the said denomination. While 6% indicated that they have ₹1 lakh or more in ₹2,000 rupee notes. Moreover, 15% said that they have up to ₹20,000 rupees – which can be exchanged at banks with no hassle.

Half of India’s ₹2,000 notes are back with banks within a month of withdrawal announcement

Softbank-backed <keyword id="19901637" type="General" weightage="20" keywordseo="OYO" source="keywords">OYO</keyword> is set to refile its much-awaited <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword> as the global travel tech player is close to finalising its refinancing plans to raise up to USD 450 million via sale of dollar bonds, sources said. JP Morgan is the likely lead banker for the refinancing through the sale of dollar bonds at an estimated interest rate of 9 to 10 per cent per annum, a source said. In preparation for the refinancing, OYO has already moved its application with markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="SEBI" source="keywords" meta.keywordsubtype="org" meta.entityname="SEBI" meta.hostid="153" meta.entityid="SEBI">SEBI</keyword> to withdraw its current draft red herring prospectus (<keyword id="19914966" type="General" weightage="20" keywordseo="DRHP" source="keywords">DRHP</keyword>). The company intends to refile an updated version of the DRHP, after the bond issuance. Oravel Stays Ltd, OYO's parent company, had in November prepaid a significant chunk of its debt amounting to Rs 1,620 crore through a buyback process. The buyback involved repurchasing 30 per cent of its outstanding Term Loan B of USD 660 million. The move brought down its outstanding loan amount to around USD 450 million. A source closely involved in the company's IPO plans told PTI, "The refinancing will result in material changes to OYO's financial statements. Hence as per existing regulations, it will need to revise its filings with the regulator". "Since the decision for refinancing is at an advanced stage, it doesn't make sense to continue pursuing IPO approval with the current financials. So it's prudent to withdraw the current application," he added. The refinancing will extend the repayment timeline to five years -- versus the repayment of the remaining TLB due in 2026 -- the source said. The bond issuance would significantly lower the current effective interest rate of 14 per cent on its existing USD 450 million Term Loan B (TLB) facility. "The refinancing is expected to result in annual interest savings of USD 8-10 million (Rs 66.4-83 crore) in the first year, after accounting for the costs associated with the bond issuance. The company anticipates annual savings of USD 15-17 million (Rs 124.5 -141.1 crore) thereafter, almost all of which would get added to its net profits. Post the debt refinancing, the company is open to contemplating an equity round, to reaffirm investor confidence before a public listing to fortify its financial strength," the source said. In September 2021, OYO had filed preliminary documents with the Securities and Exchange Board of India (Sebi) for a Rs 8,430 crore IPO. The launching of the IPO was delayed due to the then volatile market conditions making the company prepare to settle for a lower valuation at around USD 4-6 billion instead of the USD 11 billion it was targeting initially. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank">Motorola Edge 50 Fusion vs OnePlus Nord CE 4 – price, specs and features compared</a><a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-z9x-5g-with-120hz-display-6000mah-launched-starting-at-12999/slidelist/110176453.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-z9x-5g-with-120hz-display-6000mah-launched-starting-at-12999/slidelist/110176453.cms" target="_blank">iQOO Z9x 5G with 120Hz display, 6000mAh launched starting at ₹12,999</a><a href="https://www.businessinsider.in/india/news/woman-loses-54-lakh-in-work-from-home-scam-heres-what-it-is-and-how-to-protect-yourself/articleshow/110166963.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/woman-loses-54-lakh-in-work-from-home-scam-heres-what-it-is-and-how-to-protect-yourself/articleshow/110166963.cms" target="_blank">Woman loses ₹54 lakh in work-from-home scam! Here's what it is and how to protect yourself</a>

You Searched For "5 lakh deposit withdrawal" and got 13 results

FPIs withdraw nearly Rs 20,000 crore from equities in the last 5 trading sessions, make a beeline for China and US

BI India Bureau

Credit offtake expanded by Rs. 20.4 lakh crore, deposits by Rs 23.9 lakh crore over the last 12 months

ANI

Simply Put: A Deposit Dilemma — What's the fuss about a crisis in Indian bank deposits? Are mutual fund investments to blame?

Ira Alok Puranik

A Deposit Dilemma — What's the fuss about a crisis in Indian bank deposits? Are mutual fund investments to blame?

Ira Alok Puranik

Not just withdraw, you can soon deposit cash using UPI at ATMs, promises RBI

Sourabh Jain

RBI leaves repo rate unchanged. What does this mean for you?

Ira Alok Puranik

DICGC introduces Daava Soochak for depositors to track claim status

PTI

Noida woman invests in stock market via an app, loses over Rs 69 lakh as it turns out to be a scam

Divyanshi Sharma

Credit growth in banks continues to exceed deposits, says new SBI report

ANI

2.1% of ₹2,000 banknotes, with value of ₹7,581 crore, still to be returned

ANI

As the deposit deadline approaches, ₹2,000 notes fade from the system

BI India Bureau

Half of India’s ₹2,000 notes are back with banks within a month of withdrawal announcement

Katya Naidu

OYO withdraws DRHP, to refile IPO post refinancing: Sources

PTI

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