Bond Interest: Rapid reduction in the interest of bonds, reduction in the profits of banks, taking loans from this bank will be expensive.

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Banks have registered a decline in profits during the first quarter (April-June) due to the jump in bond interest. On the previous day, the operating profit of the country’s largest bank State Bank of India (SBI) fell 33 per cent to Rs 12,753 crore from Rs 18,975 crore. In this, its portfolio suffered a loss of Rs 6,549 crore. Similar impact has been had on other public sector banks as well. Non-interest income of 28 banks declined by 28% in the June quarter.

10-year benchmark bond interest rate of 7.35 per cent
At present, the interest on the 10-year bond is 7.35%. This is an increase of one percent compared to April. In the coming time, the interest of the bond can go up to 7.5%. The picture of monetary policy around the world is not clear because of the attempt to strike a balance between inflation and growth.

There will be review of fares of airlines
The fares of airlines will be reviewed. Civil Aviation Minister Jyotiraditya Scindia said the government will definitely re-assess the fare ceiling for domestic airlines if the situation is better in terms of fuel prices.

Half of the total cost of airlines is their fuel. At present, the fuel prices are very high, due to which the fare is also expensive. The entire burden falls on the passengers. Recently the government had reduced the duty on fuel.

HDFC loans costlier by 0.25%
HDFC Ltd. The loan has been made dearer by 0.25 per cent. The new rate of 7.70 percent has come into effect from Tuesday. It has raised the interest rate for the second time in this month. Earlier on August 1, it had increased the loan interest by 0.25 per cent. In 3 months, it has made the loan costlier by 1.40 percent in 6 times. RBI also made a similar increase in the repo rate earlier this month.

Tata Chemical’s profit up 86 per cent
Tata Chemicals reported a profit of Rs 637 crore in the June quarter. This is an increase of 86 per cent as compared to Rs 342 crore a year ago. The company on Tuesday said its revenue grew 34 per cent to Rs 3,995 crore. A year ago it was 2,978 crores.

457 crore withdrawal from gold etf
Withdrawals of Rs 457 crore have been made from Gold Exchange Traded Fund (ETF) in July. Investors have diverted their investments in other instruments. In June, an investment of Rs 135 crore came in it. According to the data of Association of Mutual Funds in India (Amfi), the AUM of this category has come down to Rs 20,038 crore.

Applications invited for PFRDA chairman
Government has invited applications for the post of Pension Fund Regulatory and Development Authority (PFRDA) Chairman. The tenure of current chairman Supratim Bandopadhyay will end in January. The term of the new chairman will be till the age of 65 years or five years. Gets a monthly salary of Rs 4.5 lakh.

AU Small raises Rs 2,000 crore
AU Small Finance Bank has raised Rs 2,000 crore through QIP. Its target was to raise Rs 2,500 crore. The bank said investors included DSP, Government of Singapore, ICICI Prudential Life and Goldman among others. It has raised this amount at a price of Rs 580 per share.

Expansion

Banks have registered a decline in profits during the first quarter (April-June) due to the jump in bond interest. On the previous day, the operating profit of the country’s largest bank State Bank of India (SBI) fell 33 per cent to Rs 12,753 crore from Rs 18,975 crore. In this, its portfolio suffered a loss of Rs 6,549 crore. Similar impact has been had on other public sector banks as well. Non-interest income of 28 banks declined by 28% in the June quarter.

10-year benchmark bond interest rate of 7.35 per cent

At present, the interest on the 10-year bond is 7.35%. This is an increase of one percent compared to April. In the coming time, the interest of the bond can go up to 7.5%. The picture of monetary policy around the world is not clear because of the attempt to strike a balance between inflation and growth.

There will be review of fares of airlines

The fares of airlines will be reviewed. Civil Aviation Minister Jyotiraditya Scindia said the government will definitely re-assess the fare ceiling for domestic airlines if the situation is better in terms of fuel prices.

Half of the total cost of airlines is their fuel. At present, the fuel prices are very high, due to which the fare is also expensive. The entire burden falls on the passengers. Recently the government had reduced the duty on fuel.

HDFC loans costlier by 0.25%

HDFC Ltd. The loan has been made dearer by 0.25 per cent. The new rate of 7.70 percent has come into effect from Tuesday. It has raised the interest rate for the second time in this month. Earlier on August 1, it had increased the loan interest by 0.25 per cent. In 3 months, it has made the loan costlier by 1.40 percent in 6 times. RBI also made a similar increase in the repo rate earlier this month.

Tata Chemical’s profit up 86 per cent

Tata Chemicals reported a profit of Rs 637 crore in the June quarter. This is an increase of 86 per cent as compared to Rs 342 crore a year ago. The company on Tuesday said its revenue grew 34 per cent to Rs 3,995 crore. A year ago it was 2,978 crores.

457 crore withdrawal from gold etf

Withdrawals of Rs 457 crore have been made from Gold Exchange Traded Fund (ETF) in July. Investors have diverted their investments in other instruments. In June, an investment of Rs 135 crore came in it. According to the data of Association of Mutual Funds in India (Amfi), the AUM of this category has come down to Rs 20,038 crore.

Applications invited for PFRDA chairman

Government has invited applications for the post of Pension Fund Regulatory and Development Authority (PFRDA) Chairman. The tenure of current chairman Supratim Bandopadhyay will end in January. The term of the new chairman will be till the age of 65 years or five years. Gets a monthly salary of Rs 4.5 lakh.

AU Small raises Rs 2,000 crore

AU Small Finance Bank has raised Rs 2,000 crore through QIP. Its target was to raise Rs 2,500 crore. The bank said investors included DSP, Government of Singapore, ICICI Prudential Life and Goldman among others. It has raised this amount at a price of Rs 580 per share.

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