Q1 marks growth phase for India’s banks but warts are visible too

There is a reason why investors in banking stocks are one of the happiest in the market right now. India’s banks are poised for a growth phase, helped by an interest rate hike cycle that tends to fatten margins and increase income for them. There are ample signs in their performance in the June quarter that lenders may see significant improvement in profitability in FY23. Read here.

Take a look at these key events

Today
Rakshabandhan festival
Jagdeep Dhankar to take oath as Vice President
Kerala CPI(M) leader Thomas Isaac told to appear before ED In connection with KIIFB probe
Third & final supermoon of the year - Sturgeon Moon - to appear
Krishna Janmabhoomi issue: Revision plea admitted to be heard
Xiaomi to unveil Mix Fold 2
Motorola to confirm new lunch date for Razr 2022, X30 Pro and S30 Pro
Motorola Moto G62 India launchTomorrow
Pegasus Row: SC likely to hear case
PMLA court to hear NCP leader Nawab Malik’s bail plea
Syrma SGS Technology IPO to open
Mahindra to unveil Scorpio Classic

RBI releases first set of norms for digital lending

The RBI on August 10 released norms to regulate digital lending to crack down on the growing number of frauds and unlawful activities. All loan disbursals and repayments have to be executed only between the bank accounts of the borrower and the regulated entity without any pass-through or pool account of the lending service provider (LSP) or any third party, the regulator said. Any fees or charges payable to LSPs in the credit intermediation process shall be paid directly by the regulated entity and not by the borrower. Read more here.

Fintech platforms and MFs tweak the plain, old SIP. Is it worth it?

You invest in mutual funds (MFs) through systematic investment plans (SIP) —particularly in the case of equity funds—because you do not want the bother of initiating a transaction every month. It’s automatic. But with markets getting to be increasingly volatile in the past few years and investors wanting newer options to invest, many regular SIPpers want a bigger say in the way they do their SIPs. For instance, how about reducing your monthly contributions when the markets go up and topping up your SIPs when markets fall? Read here.

10 key things to know about Syrma SGS Technology IPO

Finally, the primary market is getting active after a silence period of two-and-half-month, with Syrma SGS Technology launching its maiden public issue on August 12. What are 10 key things to know about public issue. Read here.

Samsung Galaxy Z Fold 4 launched with Snapdragon 8+ Gen 1 SoC

Samsung has officially unveiled the Galaxy Z Fold 4 globally. The Galaxy Z Fold 4 succeeds last year’s Galaxy Z Fold 3 and debuts as Samsung’s most advanced foldable smartphone yet. Top specs, features, India price, and everything else to know here.

When Ratan Tata didn’t accept a lifetime achievement award from Prince Charles for his dog

On February 6, 2018, Prince Charles wanted to give industrialist Ratan Tata a lifetime achievement award for philanthropy at the Buckingham Palace. But Tata couldn’t turn up for the event. The surprising reason was his dog. Read on.