Banks’ Q4 NIM to remain range-bound as repo cut transmission occurs on MCLR-linked loans

by Hansraj Agrawal | Jan 29, 2026 | Business

ICICI Banks’ NIM stood at 4.30 per cent in Q3, flat sequentially. Federal Bank’s NIM improved 12 bps sequentially to 3.18 per cent in Q3.
| Photo Credit:
FRANCIS MASCARENHAS

Banks are likely to see their net interest margin (NIM) remain range-bound sequentially, with possible downward bias, as the Reserve Bank of India’s (RBI) 25 basis points (bps) repo rate cut transmission in December occurs on the lending side, especially on loans which are linked to marginal cost of funds based lending rate (MCLR) benchmark which re-prices after a lag.

Sandeep Batra- ED, ICICI Bank, said he expects NIMs to remain ‘more or less range-bound’ going ahead, reflecting the repricing of the external benchmarks on loans and investments. And of course, competition intensity.

“This would get offset by retail term deposit repricing, and we will continue to watch the market conditions, and if there are any further changes in monetary policy, that will impact the NIM trajectory. From our perspective, we are focused on maximising all levers of profits, and where NIM is certainly one of the important levers,” he said. ICICI Banks’ NIM stood at 4.30 per cent in Q3, flat sequentially.

KVS Manian, MD, CEO, Federal Bank, said as the bank is changing the mix of its liability profile, increasing low-cost current account and savings account (CASA) share in overall deposits, and growing medium yield assets faster than the low yielding ones.

“I think we hope to continue this journey for many more quarters to go. Of course, there will be an immediate quarter, you will see the impact of the last rate cut play out. So, we have to keep that in mind in the next quarter (Q4). A large part of the last rate cut will play out in the next quarter. Of course, we have to try and mitigate that as we have tried in the last few quarters. We will attempt to do our best. But I don’t think that journey is anywhere close to the peak of what we want to get,” he said. Federal Bank’s NIM improved 12 bps sequentially to 3.18 per cent in Q3.

“NIMs will remain range-bound in this quarter because banks have let go-off the low yield assets, and are aiming for higher yielding assets to protect interest yields. Banks are also not raising high cost bulk deposit significantly, to protect margins. We expect these trends to continue over the next 1-2 quarters,” said Sanjay Agarwal, Senior Director, CareEdge Rating.

However, on a longer term basis, the downward pressure on lending yields and resistance in deposit yields is likely to ensure that NIMs would remain capped, he added.

Published on January 29, 2026

Source link

Silver futures soar over ₹4 lakh a kg in India as precious metals continue to rally

by Hansraj Agrawal | Jan 29, 2026 | Business

On Thursday morning, silver March futures soared to ₹4.20 lakh a kg on MCX before easing to ₹4,13,200.
| Photo Credit:
istock.com

Silver’s spectacular rally continued with its prices surging to a new record, while futures topped ₹4 lakh a kg in India. Gold exceeded $5,500 an ounce in the global market before paring gains. But late in the evening, the precious metals complex began paring its gains.

Thursday’s rally was fuelled by the dollar falling to 4-year low and investors shifting from sovereign bonds and currencies to precious metals. Geopolitical crises with the US threatening Iran over leadership change. Teheran upped the ante by denouncing President Donald Trump’s comments as “violation of Iraq’s sovereignty”.

Over the past few weeks, geopolitical crises, US’ tariff disputes with various nations, Washington locking horns with the EU and the current Iranian situation have buoyed precious metals with prices of silver doubling in a month-and-a-half and of gold in 100 days.

Silver, gold prices today

At 2040 hours IST, gold was quoted at $5,423.66 an ounce, and gold April futures ruled at $5,445.24. In India, gold in the Mumbai spot market ended at ₹1,75,340 per 10 gm. On MCX, gold April futures quoted at ₹1,88,790 gm after surging to ₹1,93,096.

Silver soared over $120 an ounce before pulling back to $113.69, and silver March futures on COMEX were quoted at $113.739 an ounce. In the Mumbai spot market, silver ended at ₹3,79,988 a kg, while on MCX, March futures soared to ₹4,20,048 a kg before easing to ₹4,06,800.

Platinum rose, but slipped to $2,636.20 an ounce, and palladium declined to $2,034 an ounce.

Gold has increased by nearly 30 per cent since the beginning of the year, silver by 66 per cent, platinum by 33 per cent and palladium by 29 per cent.

Safe-haven rush crowds trades

Apurva Sheth, Head of Market Perspectives and Research, SAMCO Securities, said though the US Fed kept the interest rates unchanged, the market shrugged off its credibility. “The rally, especially in gold, indicates some sense of concerns about Fed’s independence and counterparty risk. The S&P500 to gold ratio dropped 20 per cent this month and hit its lowest levels since October 2013. This indicates that trust in financial assets is eroding rapidly,” said Sheth.

Renisha Chainani, head of research at Augmont, said gold is increasingly viewed not just as a crisis hedge, but as a neutral, reliable store of value across macro regimes

In a note, White Oak Capital said gold and silver are essential insurance. “But we don’t buy more insurance after the house has already been saved. The ‘screaming’ in the silver market is the signal that the exit door is getting crowded. It may be prudent to move your capital to an asset that builds wealth, not one that simply waits for a disaster,” it said.

Published on January 29, 2026

Source link

Economic Survey: India’s data centre capacity to reach about 8 GW by 2030

by Hansraj Agrawal | Jan 29, 2026 | Business

Driven by surging data consumption, rapid cloud adoption, and the growing use of artificial intelligence (AI), India’s data centre capacity is projected to rise to about 8 GW by 2030, from around 1.4 GW as of the second quarter (Q2) of 2025, said the Economic Survey 2025-26.

AI data centres are specialised, high-performance facilities designed to meet the intensive computational needs of artificial intelligence, machine learning and deep learning workloads.

Growth opportunity

However, despite generating nearly 20 per cent of the world’s data, India hosts only about 3 per cent of global data centres—around 150 out of 11,000 worldwide—according to Nasscom, highlighting both a significant growth opportunity and a competitiveness gap, the Survey noted.

“Data centres are also double-edged swords, as they are highly energy-intensive. With emerging hubs such as Malaysia (Johor), Japan and Vietnam intensifying competition, addressing structural constraints such as energy shortages will be critical for India to position itself as a global AI data centre hub,” it said.

Data centres form a critical component of India’s IT ecosystem, supporting application hosting, data processing and storage for government platforms, financial services, enterprises and citizen-centric applications.

Current capacity

Per industry estimates, India’s installed data centre capacity stood at around 1,280 megawatts (MW) as of June 2025, with about 130 privately operated data centres and 49 run by government agencies at the central and State levels.

The sector remains largely private-led and deregulated, facilitated by policy initiatives under Make in India and Atmanirbhar Bharat aimed at strengthening domestic electronics and semiconductor manufacturing across the data centre value chain, the Survey said.

The Survey also noted that AI development has followed a resource-intensive path, with this intensification reflected in the sharp projected rise in electricity consumption by data centres across major regions.

Grid stress

Grids have become increasingly unstable, power supply has been disrupted and energy costs have risen, compounded by the shift towards intermittent power sources such as solar and wind. While frugal AI may be possible, it is neither imminent nor commercially scalable at present, it added. The Survey also noted that the US federal government has barred states from regulating AI.

Infrastructure risks

“AI development is inextricably linked to physical infrastructure. Data centres require large quantities of electricity and water, and AI workloads introduce volatility in power demand, posing risks to grid stability. Global experience shows that AI-driven data centre expansion can place significant strain on existing energy systems, even in advanced economies,” the Survey said.

Published on January 29, 2026

Source link

निर्मला सीतारमण बोलीं भारत के व्यापक आर्थिक आधार मजबूत, वैश्विक चुनौतियों पर भी दिया जबाव

by Hansraj Agrawal | Jan 29, 2026 | Business

Economic Survey 2026: केंद्रीय वित्त मंत्री निर्मला सीतारमण ने गुरुवार को कहा कि भारत का व्यापक आर्थिक आधार अब पहले से कहीं अधिक मजबूत हो गया है. उन्होंने कहा कि देश ने वैश्विक चुनौतियों का सफलतापूर्वक सामना किया है, जिसके चलते भारत की संभावित जीडीपी वृद्धि दर बढ़कर सात प्रतिशत तक पहुंच गई है.

वित्त मंत्री ने संसद में आर्थिक समीक्षा 2025-26 पेश करने के बाद सोशल मीडिया मंच ‘एक्स’ पर पोस्ट करते हुए कहा कि भू-राजनीतिक विखंडन और आर्थिक उथल-पुथल से भरी दुनिया में भारत एक वैश्विक चमकते सितारे के रूप में उभर कर सामने आया है जो मजबूत, स्थिर और लगातार आगे बढ़ने वाला है.

पहले से ज्यादा मजबूत होकर उभर रहा भारत

वित्त मंत्री ने कहा कि हमारे व्यापक आर्थिक आधार पहले से कहीं अधिक मजबूत हैं. वैश्विक प्रतिकूल परिस्थितियों के बावजूद भारत को उच्च विकास पथ पर बनाए रखा गया है. हमने अपनी संभावित जीडीपी वृद्धि दर को सुधारकर सात प्रतिशत तक पहुंचाया है. आर्थिक समीक्षा के अनुसार, वैश्विक अनिश्चितताओं के बीच भी भारतीय अर्थव्यवस्था ने मजबूत रफ्तार बनाए रखी है. समीक्षा में अगले वित्त वर्ष के लिए भारत की जीडीपी वृद्धि दर 6.8 प्रतिशत से 7.2 प्रतिशत के दायरे में रहने का अनुमान जताया गया है.

राष्ट्रीय सांख्यिकी कार्यालय (NSO) के अनुमानों के मुताबिक, चालू वित्त वर्ष में भारतीय अर्थव्यवस्था 7.4 प्रतिशत की दर से बढ़ी है. भारत लगातार चौथे वर्ष दुनिया की सबसे तेजी से बढ़ने वाली प्रमुख अर्थव्यवस्था बना हुआ है. समीक्षा में देश के संभावित वृद्धि अनुमान को तीन वर्ष पहले के 6.5 प्रतिशत से बढ़ाकर अब सात प्रतिशत कर दिया गया है.

100 अरब डॉलर तक एक्सपोर्ट

आर्थिक समीक्षा रिपोर्ट में कहा गया है कि मूल्य के लिहाज़ से दुनिया का दूसरा सबसे बड़ा कृषि उत्पादक देश अगले चार वर्षों में कृषि, समुद्री तथा खाद्य एवं पेय पदार्थों के निर्यात को 100 अरब अमेरिकी डॉलर तक पहुंचा सकता है.

साथ ही, इसमें चेतावनी दी गई है कि बार-बार किए जाने वाले नीतिगत बदलाव आपूर्ति श्रृंखलाओं में बाधा पैदा कर सकते हैं, अनिश्चितता बढ़ा सकते हैं और विदेशी खरीदारों को वैकल्पिक स्रोतों की ओर रुख करने के लिए मजबूर कर सकते हैं. ऐसी स्थिति में खोए हुए निर्यात बाजारों को दोबारा हासिल करना कठिन हो जाएगा.

ये भी पढ़ें: लुट गया इंडोनेशिया का ये अमीर शख्स, एक झटके में गंवाए 8,27,59,50,00,000 रुपये, जानें वजह

Source link

इकोनॉमिक सर्वे 2026 में रामायण का संदेश; विरोधियों से सीखकर आगे बढ़ेगा भारत, जानें डिटेल

by Hansraj Agrawal | Jan 29, 2026 | Business

Show Quick Read

Key points generated by AI, verified by newsroom

Economic Survey 2026: यूनियन बजट के पहले आज केंद्र सरकार की ओर से संसद में इकोनॉमिक सर्वे 2026 पेश किया गया. आर्थिक सर्वेक्षण 2025-26 में प्राचीन महाकाव्य रामायण के प्रसंग को उदाहरण के तौर पर शामिल किया गया है. इसके जरिए यह समझाने की कोशिश की गई है कि भारत किस तरह अपने विरोधियों से भी सीख लेकर आगे बढ़ सकता है. वो भी बिना अपनी आत्मनिर्भरता और स्वायत्तता से समझौता किए हुए. सर्वे में युद्ध कांड से जुड़ी सीख का जिक्र किया गया है.

सर्वे के अनुसार आज की जटिल वैश्विक अर्थव्यवस्था में भी रामायण की यह सीख बहुत अहम हो सकती है. तेज होते वैश्विक तनाव और अस्थिर वित्तीय हालात के बीच इस उदाहरण को भारत की अंतरराष्ट्रीय रणनीति के रूप में देखा जा सकता है.

हैनान बना चीन का खास फ्री ट्रेड हब

चीन ने हैनान फ्री ट्रेड पोर्ट की शुरुआत कर पूरे द्वीप को एक विशेष आर्थिक क्षेत्र के रूप में विकसित किया है. 2025 के अंत तक यहां पूरी तरह सीमा शुल्क व्यवस्था लागू कर दी गई है. जिससे यह इलाका कम टैरिफ वाला जोन बन गया.

हैनान के कस्टम सिस्टम को चीन से अलग रखा गया है, जहां आयात पर बहुत कम शुल्क लिया जाता है. इसके अलावा, स्थानीय स्तर पर पर्याप्त वैल्यू एडिशन के बाद तैयार किए गए उत्पादों को बिना किसी अतिरिक्त टैक्स के पूरे चीन में बेचा जा सकता है.

हैनान को लेकर भारत के लिए संकेत

इकोनॉमिक सर्वे में कहा गया है कि भारत को हैनान फ्री ट्रेड पोर्ट को सिर्फ एक चुनौती के रूप में नहीं देखना चाहिए. यह एक बड़े और धीरे-धीरे होने वाले बदलाव का संकेत है, जो आने वाले समय में एशिया के व्यापार रास्तों, लॉजिस्टिक्स सिस्टम और निवेश फैसलों को प्रभावित कर सकता है.

खासतौर पर उत्तरी हिंद महासागर और दक्षिण चीन सागर क्षेत्र में इसका असर देखने को मिल सकता है. इसका महत्व केवल मौजूदा प्रतिस्पर्धा तक सीमित नहीं है, बल्कि यह पूरे क्षेत्र की आर्थिक संरचना को धीरे-धीरे बदल सकता है.

वैश्विक हालात को लेकर बढ़ती चिंता

सर्वे यह भी बताता है कि ये बदलाव एक मुश्किल वैश्विक माहौल में हो रहे हैं. भले ही दुनिया की अर्थव्यवस्था ने 2025 के झटकों को उम्मीद से बेहतर संभाल लिया हो, लेकिन अब हालात पहले जैसे सामान्य नहीं रहे हैं.

अलग-अलग देशों की अर्थव्यवस्थाओं, बाजारों और राजनीतिक सिस्टम में आगे चलकर मध्यम से गंभीर स्तर की परेशानियों की संभावना बढ़ गई है. आने वाले समय में स्थिरता के बजाय उतार-चढ़ाव ज्यादा देखने को मिल सकता है.

यह भी पढ़ें: इकोनॉमिक सर्वे आने के बाद झूमा शेयर बाजार! शुरुआती गिरावट का बदला रूख, सेंसेक्स-निफ्टी हरे निशान पर बंद

Source link

SMFG India Credit partners with Google for collateral-free loans via GPay

by Hansraj Agrawal | Jan 29, 2026 | Business

SMFG India Credit, one of the leading Non-Banking Financial Companies (NBFCs), has entered into a strategic partnership with Google Pay to provide collateral-free personal loans to Google Pay users.

Through this collaboration, loans will be disbursed in minutes to eligible Google Pay users who apply for a loan through the app.

The end-to-end digital process ensures a fast, safe, flexible and hassle-free borrowing experience, aligning with the evolving expectations of digital savvy customers.

This partnership underscores SMFG India Credit’s commitment to driving financial inclusion by making formal credit more accessible to underserved and emerging customer segments.

Ajay Pareek, Chief Business Officer, SMFG India Credit said the company continues to strengthen its leadership in the digital lending ecosystem by leveraging technology and forming strategic alliances with fintech platforms.

These efforts reflect the company’s focus on expanding reach, promoting financial empowerment and supporting the nation’s vision of a digitally inclusive economy, he said.

SMFG India Credit Co is a wholly owned subsidiary of Sumitomo Mitsui Financial Group operating in India since 2007.

Together with its subsidiary, SMFG India Home Finance Co. Ltd. also known as SMFG Grihashakti, the company has established a pan-India presence, across 670 towns and over 70,000 villages through 1,000 branches and 22,000 employees offering lending products to underserved & unserved retail and small business borrowers.

Published on January 29, 2026

Source link

« Older Entries

Next Entries »

Times Top News

Times Top News