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Time of India
12-07-2025
- Sport
- Time of India
Holkar stadium's cricket museum to open to public from July 15
Indore: The newly inaugurated Cricket Museum at Indore's Holkar Stadium is all set to welcome the general public from Tuesday, 15 July. Developed by the Madhya Pradesh Cricket Association (MPCA), the museum is already attracting keen interest from schools, cricket clubs, and state associations across the country. Notably, it is the first-of-its-kind cricket museum in India set up and managed by a state cricket association. The Cricket Museum will remain open from 11:00 am to 1:15 pm and 2:00 pm to 6:30 pm, with Monday as the weekly off. Entry fee is Rs.50 for children aged 4 to 12 years and Rs.100 for all others (all inclusive). The entry for the museum will be through the Usha Raje Gate opposite Indore Tennis Club. Parking for two-wheelers and four-wheelers is available inside the stadium, subject to availability. The upcoming opening has sparked excitement across the city and the country, with MPCA receiving enquiries from local schools, cricket clubs, and even other state associations expressing interest in visiting. "Enquiries for the museum visit have already started pouring in. Brochures will be kept at hotels, schools, and colleges to increase awareness," MPCA president Abhilash Khandekar told TOI. He added that the association is also collaborating with educational institutions and hospitality partners to promote visits. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Providers are furious: Internet access without a subscription! Techno Mag Learn More Undo by Taboola by Taboola The museum will remain open on Sundays and will be closed on Mondays to accommodate weekend visitors. MPCA officials are currently engaged in last-minute preparations to ensure a seamless experience for visitors when the museum opens next week. "We want everything to be perfect—from security to logistics—to manage the expected footfall," said MPCA CAO Rohit Pandit. Inaugurated on 7 July by former cricketer Dilip Vengsarkar and Union Minister Jyotiraditya Scindia, the museum features iconic cricket memorabilia and has been designed with inspiration from the iconic Lord's Pavilion in London. A prominent highlight is the replica of the Lord's balcony with a life-size statue of Kapil Dev holding the 1983 World Cup trophy — a tribute to India's historic victory. Other attractions include cricket gear used by legends such as Sachin Tendulkar's pads, Rahul Dravid's gloves, Dilip Vengsarkar's helmet, and Indore's Amay Khurasiya's bat from the 1999 World Cup. Visitors will also get to see signed memorabilia from the 1983 World Cup-winning team, jerseys of Virat Kohli and MS Dhoni, Avesh Khan's shoes, and bats used by Rajat Patidar and Venkatesh Iyer. The museum also houses a statue of Colonel C.K. Nayudu in military attire and exhibits match balls, books, and rare artefacts from Indore and the world's cricketing history. Entry fees have been set at Rs.100 for adults and Rs.50 for children aged 12 and above, while children below 12 years can enter free of charge. Plans are underway to introduce online ticketing for convenience. The museum will remain closed during international matches at Holkar Stadium.
Time of India
11-07-2025
- Sport
- Time of India
Cricket museum opens to public from July 15
Indore: The newly inaugurated Cricket Museum at Indore's Holkar Stadium is all set to welcome the general public from Tuesday, 15 July. Developed by the Madhya Pradesh Cricket Association (MPCA), the museum is already attracting keen interest from schools, cricket clubs, and state associations across the country. Notably, it is the first-of-its-kind cricket museum in India set up and managed by a state cricket association. The upcoming opening has sparked excitement across the city and the country, with MPCA receiving enquiries from local schools, cricket clubs, and even other state associations expressing interest in visiting. "Enquiries for the museum visit have already started pouring in. Brochures will be kept at hotels, schools, and colleges to increase awareness," MPCA president Abhilash Khandekar told TOI. He added that the association is also collaborating with educational institutions and hospitality partners to promote visits. The museum will remain open on Sundays and will be closed on Mondays to accommodate weekend visitors. MPCA officials are currently engaged in last-minute preparations to ensure a seamless experience for visitors when the museum opens next week. "We want everything to be perfect—from security to logistics—to manage the expected footfall," said MPCA CAO Rohit Pandit. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giá vàng đang tăng mạnh trong năm 2025 — Các nhà giao dịch thông minh đã tham gia IC Markets Tìm hiểu thêm Undo Inaugurated on 7 July by former cricketer Dilip Vengsarkar and Union Minister Jyotiraditya Scindia, the museum features iconic cricket memorabilia and has been designed with inspiration from the iconic Lord's Pavilion in London. A prominent highlight is the replica of the Lord's balcony with a life-size statue of Kapil Dev holding the 1983 World Cup trophy — a tribute to India's historic victory. Other attractions include cricket gear used by legends such as Sachin Tendulkar's pads, Rahul Dravid's gloves, Dilip Vengsarkar's helmet, and Indore's Amay Khurasiya's bat from the 1999 World Cup. Visitors will also get to see signed memorabilia from the 1983 World Cup-winning team, jerseys of Virat Kohli and MS Dhoni, Avesh Khan's shoes, and bats used by Rajat Patidar and Venkatesh Iyer. The museum also houses a statue of Colonel C.K. Nayudu in military attire and exhibits match balls, books, and rare artefacts from Indore and the world's cricketing history. Entry fees have been set at Rs.100 for adults and Rs.50 for children aged 12 and above, while children below 12 years can enter free of charge. Plans are underway to introduce online ticketing for convenience. The museum will remain closed during international matches at Holkar Stadium.
Economic Times
08-07-2025
- Business
- Economic Times
Time for NBFC stocks to shine again? Policy support, repo rate cuts to benefit these 4 banking stocks
iStock NBFC stocks are expected to perform well in the upcoming quarter, bolstered by RBI rate cut and policy support for NBFC-MFIs Non-banking finance companies (NBFCs) have faced multiple challenges over the past few quarters amid delinquencies in unsecured loans, tight liquidity, and rigorous scrutiny by the Reserve Bank of India (RBI). However, their performance is expected to improve after cuts in interest rates and phased reduction in the cash reserve ratio (CRR) that will lead to an increase in liquidity and boost credit growth. The relaxation of regulations for NBFCs focused on gold loans and microfinance institutions (MFIs) will also help. Performance concerns were reflected in the share prices of NBFC companies in the first five months of 2025. The group of 104 listed companies in the financial services and consumer finance space, with a market cap of more than Rs.100 crore, delivered an equal weighted average return of -4.5% between 1 January and 31 May 2025. In comparison, the Nifty 500 equal-weighted index delivered -1.5% during the same period. Policy support The repo rate has been cut by 1 percentage point this year—25 basis points each in February and April, and 50 basis points in June. The CRR is being lowered by 100 basis points in four steps between September and November, a move that will lead to an infusion of an estimated Rs.2.5 lakh crore liquidity into the banking system. This, in turn, is expected to boost the net interest margins (NIMs) of increased liquidity and lower rates will support NIMs by reducing the cost of funds (CoF). The NIM is the difference between the interest income generated from lending activities and that paid on borrowed funds.'While the policy action is positive for the entire NBFC space, the players with high fixed rate assets (vehicle loans, loans against property) stand to benefit the most,' stated a recent ICICI Securities report. It expects the CoF to improve by 20-40 basis points in 2025-26 for most relaxation on new gold loans will be effective from April 2026. The loan-to-value (LTV) ceiling is being raised from 75% to 85% for loans with ticket sizes of less than Rs.2.5 lakh. This means that the gold loan focused NBFCs can lend more for every Rs.100 worth of gold. This will make the borrowings attractive and support the loan book the second key relaxation, the central bank dropped the qualifying assets threshold from 85% to 60% for NBFC-MFIs. This is the minimum amount of eligible microfinance loans that NBFC-MFIs must hold on their books, allowing them to diversify into more profitable segments, such as affordable housing or consumer finance.'With the qualifying asset threshold lowered, MFIs now have the flexibility to diversify their loan books, moving beyond traditional group lending to slightly larger ticket sizes. This will help stabilise the earnings across credit cycles,' said Harshal Dasani, Business Head, INVasset, Emkay report has stated that the NBFCs are set for risk-calibrated, profitable growth, aided by the reduction in cost of funding and easing of stress in some segments. Though the report expects a lacklustre performance in the June quarter, meaningful gains are expected from the second half of the current financial year and in 2026-27. Repo rate cuts spell bonanza for NBFC stocks Lower cost of funds will improve NIMs. The sentiment for the NBFC sector has improved since the policy measures were announced on 6 June. The group of 104 companies has generated an equal-weighted average return of 3.6% between 5 June and 1 July, compared with the Nifty 500 equal weighted index's 2.1% measures could result in a re-rating of NBFC stocks over the next three to six months, led by an improved margin outlook, stronger balance sheets and higher loan growth visibility, said Manish Goel, Founder and Managing Director, Equentis Wealth Advisory are the four NBFC stocks with broad analyst coverage and a significant buy rating. Stock price returns What do the analysts say? Aditya Birla Capital The firm reported a steady performance across business segments in the March 2025 quarter, with 6% year-on-year growth in net profit. It reported a strong loan growth in both NBFC lending and housing finance— 20% and 69% year-on-year, respectively. While the former was driven by SME and corporate loans, strong disbursements aided the latter. Health insurance, life insurance and asset management also performed well. The management expects margins to improve in the future, helped by a fall in the cost of funds and a gradual increase in the share of unsecured loans in its loan mix. The modifications in the strategy for customer selection in the unsecured segment will support disbursements in consumer and personal loans. A Motilal Oswal report estimated a consolidated return on equity (RoE) of 14% by 2026-27. Aptus Value Housing Finance The company reported a strong performance in the March quarter, with 26% and 25% growth in net profit and AUM, respectively, on a year-on-year basis. While volume growth supported the AUM, the assignment transaction of Rs.75 crore boosted the net profit. The company enjoys a strong capital adequacy ratio of 70%, which has helped it to report robust return ratios. Moreover, its steady cost-to-income ratio makes it a cost-efficient affordable housing finance lender. Strong asset quality, steady credit costs and likely revival in disbursements in 2025-26 are some of the key positives. Moreover, focus on increasing floating rate borrowings, to benefit from the ratecycle reversal, and a high share of fixed rate loans will improve spreads and profitability in the future. The management expects the AUM to reach Rs.25,000 crore by 2027-28, implying a 32% CAGR. An ICICI Securities report expects that the growth momentum will sustain due to the stringent credit monitoring, strong collection mechanism, focus on geographical diversification and controlled opex. PNB Housing Finance The NBFC reported a steady performance in the March quarter, with 25.3% year-on-year growth in net profit. An uptick in high-yielding segments, provision write-backs and efficient asset liability management supported the performance. To enhance growth, the company's management is focusing on affordable housing and emerging market segments. On the other hand, the company is slowing down disbursements in the prime segment due to the increased competition from large banks. Affordable housing and emerging market segments currently constitute 24% of the loan book and the management plans to scale up such segments to 40% by 2026-27. The increase in scale will impart efficiency gains by reducing opex and will lead to an improvement in return on assets (RoA). With 70% of borrowings on floating rate, the rate cut will prove favourable by lowering the borrowing costs. A recent Nirmal Bang report remains positive on the company due to its improved growth prospects, with expansion in emerging markets and affordable segments, along with the improving return ratios due to the likely NIMs expansion and benign credit costs. Shriram Finance It reported a subdued performance in the March quarter due to a spike in credit costs and contraction in NIMs. Tepid demand amid weak government capex and minor deterioration in asset quality weighed on its performance. Going forward, the margins are expected to improve, helped by an improved product mix, rate cut, and expectations of a higher government capex. Moreover, the asset quality is expected to stabilise in the second half of the current financial year. A recent Motilal Oswal report is bullish on Shriram Finance due to its market leadership, strategic diversification in high-growth, non-auto segments, potential for margin and operating efficiency improvements, attractive valuations and strong earnings visibility.
Time of India
07-07-2025
- Business
- Time of India
No penalty on minimum balance: 5 banks that have removed savings accounts balance requirement
Average Monthly Balance (AMB) Bank of Baroda Academy Empower your mind, elevate your skills Bank of Baroda savings account interest rate Present SB Interest Rate Slab on O/s Balance Interest Rates upto Rs. 1.00 Lakh 2.50% Above Rs 1.00 Lakh to less than Rs. 50 Lakh 2.50% Rs. 50 Lakh and less than Rs. 10 Crores 2.50% Rs. 10 Crores and above to less than Rs. 50 Crores 2.50% Rs. 50 Crores and above to less than Rs. 100 Crores 2.75% Rs. 100 Crores and above to less than Rs. 200 Crores 2.75% Rs. 200 Crores and above to less than Rs. 500 Crores 2.75% Rs. 500 Crores and above to less than Rs. 1,000 Crores 3.50% Rs. 1,000 Crores and above to less than Rs. 2,000 Crores 4.00% Rs. 2,000 Crores and above 4.25% You Might Also Like: Canara bank revises FD, savings interest rate: Check latest rates Canara Bank savings account interest rates Slabs ROI(%) 1 For outstanding Balance of less than Rs. 50 Lakh 2.55% 2 For outstanding Balance of Rs. 50 Lakh to less than Rs 5 Cr 2.55% 3 For outstanding Balance of Rs. 5 Cr to less than Rs 10 Cr 2.55% 4 For outstanding Balance of Rs. 10 Cr to less than Rs 100 Cr 2.55% 5 For outstanding Balance of Rs. 100 Cr to less than Rs 200 Cr 2.65% 6 For outstanding Balance of Rs. 200 Cr to less than Rs 300 Cr 2.65% 7 For outstanding Balance of Rs. 300 Cr to less than Rs 500 Cr 3.10% 8 For outstanding Balance of Rs. 500 Cr to less than Rs 1000 Cr 3.40% 9 For outstanding Balance of Rs. 1000 Cr & less than Rs. 2000 Cr 3.55% 10 For outstanding Balance of Rs. 2000 Cr & above 4.00% PNB PNB savings account interest rates Saving Deposit Interest Rate Revised w.e.f. 01.07.2025 Saving Fund Account Balance below Rs.10 Lakh 2.50% p.a. Saving Fund Account Balance of Rs.10 Lakh to less than Rs.100 Crore 2.50% p.a. Saving Fund Account Balance of Rs.100 Crore & above 2.70% p.a. These bank customers need not worry about maintaining minimum balance in a savings account. Recently, some of the major publicly listed banks in India have removed the compulsory practice of keeping an Average Monthly Balance (AMB) thus removing all penalties for underperformance. PNB and other banks such as Bank of Baroda Canara Bank , have removed the minimal balance criteria on the majority and in some cases all of their savings average monthly balance (AMB) is the minimum balance that a customer is required to maintain in his/her bank account. If the balance in the bank account falls below the required amount, then banks levy a penalty for failing to maintain the AMB. The penalty varies based on the type of savings of Baroda has announced an initiative by waiving charges on non-maintenance of minimum balance in all standard Savings Accounts, with effect from July 1, 2025. With this, customers will not incur any charges for any shortfall in the monthly average balance in their Savings Accounts. Note that the waiver is not applicable on Premium Savings Account Bank said that it will waive off minimum balance criteria and it has announced the complete waiver of minimum balance charges across all savings bank accounts. This will be effective from July 7, May 2025, Canara Bank also announced a waiver of the average monthly balance requirement for all types of savings bank accounts, including regular savings accounts, salary accounts, and NRI savings National Bank (PNB) will also no longer charge penalties for failing to maintain the minimum average balance (MAB) in all savings PNB, charges for the non-maintenance of MAB were previously directly proportional to the extent of the shortfall, which means the penalty was calculated as a percentage of the shortfall from the required minimum Savings account interest ratesSBI has waived off the requirement for maintaining a minimum balance in all savings accounts since 2020; there is no penalty if the minimum balance in the savings account is not maintained.
Time of India
02-07-2025
- Business
- Time of India
Big relief for savings account holders: After SBI and Canara bank, PNB removes minimum balance charge
Academy Empower your mind, elevate your skills What is the average monthly balance requirement in a savings bank account? Area Min. applicable Charges Max. applicable Charges %age of shortfall Rural Rs. 1/- Rs. 30/- 6% Semi Urban Rs. 1/- Rs. 60/- 6% Urban & Metro Rs. 1/- Rs. 100/- 5% Punjab National Bank savings account interest rates Saving Deposit Interest Rate Existing w.e.f. 01.01.2023 Revised w.e.f. 01.07.2025 Saving Fund Account Balance below Rs.10 Lakh 2.70 % p.a. 2.50% p.a. Saving Fund Account Balance of Rs.10 Lakh to less than Rs.100 Crore 2.75 % p.a. 2.50% p.a. Saving Fund Account Balance of Rs.100 Crore & above 3.00 % p.a. 2.70% p.a. After State Bank of India (SBI) and Canara Bank , state-owned Punjab National Bank (PNB) will also no longer charge penalties for failing to maintain the minimum average balance (MAB) in all savings accounts . PNB has also reduced the interest rates on savings accounts across all balance slabs."This customer-first initiative (waiver of charges for non-maintenance of MAB), effective from July 1, 2025, aims to support priority segments, including low-income households, women, and farmers, by making banking services more accessible and easier to use without the burden of balance maintenance penalties," PNB said in a has waived the requirement for maintaining a minimum balance in all savings accounts since 2020; there is no penalty if the minimum balance in the savings account is not read: No more penalty for low balance in bank account: Canara Bank ends minimum balance rule on all savings accounts from this date In May 2025, Canara Bank also announced a waiver of the average monthly balance (AMB) requirement for all types of savings bank accounts, including regular savings accounts, salary accounts, and NRI savings average monthly balance (AMB) is the minimum balance that a customer is required to maintain in his/her bank account. If the balance in the bank account falls below the required amount, then banks levy a penalty for failing to maintain AMB. The penalty varies based on the type of savings PNB, charges for the non-maintenance of MAB were previously directly proportional to the extent of the shortfall, which means the penalty was calculated as a percentage of the shortfall from the required minimum and medium account holders of PMB with deposits below Rs 100 crore will now earn 2.50% per annum, down from the earlier rates of 2.70% or 2.75%. Even large institutional depositors (Rs100 crore and above) will see a reduced rate of 2.70%, compared to 3.00% earlier. The new rates are applicable from July 1, 2025.
