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Deposits grew 27% to Rs 69315 crore. The bank reduced its peak deposit rates by 25 basis points across savings and retail term deposits. "The bank had an liquidity coverage ratio of 151% as on March 31, 2023, and thus the focus in Q1’FY24 was to consume this excess liquidity instead of growing high-cost deposits," the bank said in a regulatory filing to stock exchanges.

Air India and Vistara have told the Competition Commission of India (CCI) that their merger will not affect competition as rivals operate on most routes that the combined entity will fly. The Tata Group is merging Vistara into Air India to create a single full-service airline, with Singapore Airlines owning a 25.1% share in the new entity, whilst AirAsia India is completing a merger with Air India Express to create a single low-cost subsidiary of Air India.

The rejected applicants are Akhil Kumar Gupta; Cosmea Financial Holdings, which is promoted by former Reliance Capital managing director Sam Ghosh; and West End Housing Finance.

The total outstanding loan for the hotel properties amounts to ₹507 crore. The portfolio consists of loans provided to KAD Housing and KAJ Infrastructure, both entities promoted by DP Jain and his family that operate two five-star hotels in Ghaziabad, namely Radisson Blu Kaushambi and Radisson Blu Hotel, as reported by ET on June 23.

This is the second loan that the company is looking to sell in less than 10 days. It had also sold a total loan outstanding pool of ₹3,656 crore to Omkara ARC for ₹625 crore last week. The sale resulted in a recovery of 17%s for Piramal. The principal outstanding of the pool was ₹3,656 crore as of May 15, 2023 and spread across 7-8 accounts.

The National Company Law Tribunal (NCLT) had appointed Jitender Kothari as the interim resolution professional (IRP) in February when FEL was admitted for corporate insolvency on a petition by Foresight Innovations, an operational creditor.

The surge in risk-taking indicates that retail investors were euphoric, with the mid-cap and small-cap indices making new highs recently. The average margin funding in June was about ₹28,535 crore compared to ₹26,600 crore in May or about ₹26,000 crore last year.

The two producer countries said on Monday that they will prolong and deepen output cuts into August. Along with reductions they already made, and ongoing curbs by other nations in the OPEC+ alliance, total supply curtailments will amount on paper at least to 3.1 million barrels a day, or about 3% of global consumption.

Shares of Bajaj Finance rose as high as 8% to post their biggest single-day gain in nearly one year. The stock surged to near two-year high on Tuesday to close at ₹7,868 apiece on the NSE, up 7.3% from the previous close, extending its run of gains to six consecutive sessions.

Markets regulator Sebi has recently mandated all brokers to start displaying charges while placing an order, helping traders and investors get an estimate of the charges they will be paying upfront. While this is helpful for someone placing fewer orders, for those who trade throughout the day, it isn’t that handy as the charges appear to be only for that one particular order.