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Magazine
Mar 31, 2024
India's Best Banks
Banks are up against a multitude of challenges. Retail banking is witnessing some churn thanks to the Reserve Bank of India increasing the risk weightage on unsecured loans. This will mean higher capital adequacy requirements for banks and NBFCs. Besides, banks are also witnessing increasing competition from NBFCs, with big names like Reliance’s Jio Financial, Godrej, Poonawalla and Piramal making rapid strides to fill the credit gap. This year’s BT-KPMG Survey of India’s Best Banks and NBFCs comes to you against this background. In keeping with the growing importance of NBFCs in the financial services space, we have included them this year in the survey. Despite the challenges, these are exciting times for the financial sector, and the winners we profile this year have successfully navigated this unpredictable landscape. To read about these winners, check out the latest issue. On stands now

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BRIDGING THE DIVIDE
TOUTED AS INDIA’S LONGEST SEA BRIDGE, THE 21.8 KM SIX-LANE MUMBAI TRANS HARBOUR LINK, ONCE OPENED, WILL CONNECT MUMBAI WITH SATELLITE CITY NAVI MUMBAI, AND FOSTER BUSINESS AND ECONOMIC GROWTH IN INDIA’S FINANCIAL HUB
  • 5%: The likely boost Maharashtra’s GSDP will get from this and associated projects; it is estimated to add 1 per cent to India’s GDP
  • Rs 17,843 CRORE: Total amount (estimated) spent on the construction of the road bridge that will be used by over 70,000 vehicles every day
  • 1 HOUR: Likely reduction in travel time, apart from savings in fuel cost, that the bridge will enable for travellers between Mumbai and Navi Mumbai
RENEWABLE INTEREST
THE OVERWHELMING RESPONSE RECEIVED BY THE IREDA IPO HAS AGAIN PUT THE SPOTLIGHT ON THE RENEWABLE ENERGY SECTOR IN INDIA, THE WORLD’S THIRD-LARGEST PRODUCER OF ENERGY. HERE IS WHAT THE NUMBERS SAY:
  • 66%: The share of renewable energy the government is looking to achieve by 2032 in total installed capacity, compared to 42 per cent in July 2023
  • Rs 24.43 LAKH CRORE: The total outlay expected towards renewable capacity additions during FY23-FY32
  • 25 TIMES: Surge in the central government’s spending on new and renewable energy to Rs 10,222 crore in FY24 (BE) from Rs 395 crore in FY14
A CRACKER OF A YEAR
DESPITE GEOPOLITICAL CONCERNS, VOLATILITY IN COMMODITY PRICES AND A WEAK CURRENCY, INDIAN STOCK MARKETS HAVE WITNESSED SPECTACULAR FIREWORKS IN SAMVAT 2079. SINCE DIWALI 2022, THE BSE SENSEX HAS SURGED 9 PER CENT
  • 33 PER CENT: Returns given by the BSE SmallCap, followed by the BSE MidCap (30 per cent), as the broader market has outperformed the Sensex
  • RS 1.85 LAKH CRORE: The amount pumped in by domestic investors into Indian equities, compared to the Rs 1.45 lakh crore invested by FIIs
  • 52 PER CENT: The surge recorded by the BSE Realty index, followed by BSE Capital Goods (47 per cent) and BSE Auto (26 per cent)
WEDDING WALTZ
THE UPCOMING WEDDING SEASON FROM NOVEMBER 23 TO DECEMBER 15 WILL SEE AROUND 3.5 MILLION NUPTIALS, AGAINST 3.2 MILLION LAST YEAR. HERE’S HOW MUCH BUSINESS WEDDINGS WILL GENERATE THIS SEASON:
  • 4.25 LAKH CRORE: The business wedding ceremonies are expected to generate this season—the highest ever—compared to Rs 3.75 lakh crore a year ago
  • Rs 1 CRORE +: The estimated expenditure per wedding in nearly 50,000 big-ticket events that will take place this season
  • 0.35 MILLION: The number of weddings expected in Delhi alone this season, which could generate about Rs 1 lakh crore worth of business
HOWZAT!
INDIA’S 100-MEDAL HAUL AT THE ASIAN GAMES AND THE ONGOING CRICKET WORLD CUP ARE EXPECTED TO BOOST THE COUNTRY’S SPORTS EQUIPMENT MARKET. HERE’S WHAT THE DATA SHOWS:
  • $6.6 BILLION: Expected size of the Indian sports equipment market by 2027 compared to $3.9 billion in 2020-21
  • 82 PER CENT: Of sports goods made in India is manufactured in Jalandhar and Meerut. Together, they have over 3,000 manufacturing units
  • 60 PER CENT: Of sporting equipment manufactured in India is shipped to other countries

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