Business
S&P Global Upgrades Ratings Of 10 Indian Financial Institutions, Including SBI, HDFC Bank
Last Updated:
S&P raises long-term credit ratings on SBI, ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, Union Bank of India, Indian Bank, Bajaj Finance, Tata Capital, and L&T Finance.
S&P says it expects India’s banks to maintain adequate asset quality, good profitability, and enhanced capitalisation over the next 12-24 months.
S&P Global Ratings on Friday upgraded the ratings of India’s 10 financial institutions, including State Bank of India, HDFC Bank, and Tata Capital, after it raised the country’s sovereign credit rating.
“India’s financial institutions will continue to ride the country’s good economic growth momentum. These entities will benefit from their domestic focus and structural improvements in the system such as in the recovery of bad loans,” S&P said.
The US-based agency raised long-term issuer credit ratings on seven Indian banks — SBI, ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, Union Bank of India, and Indian Bank — and three finance companies — Bajaj Finance, Tata Capital, and L&T Finance.
“We expect India’s banks to maintain adequate asset quality, good profitability, and enhanced capitalisation over the next 12-24 months. This is despite some pockets of stress,” S&P noted, adding that overall credit risk in the financial system has eased.
On August 14, the agency had upgraded India’s sovereign rating to ‘BBB’ after more than 18 years, citing strong economic fundamentals that are likely to support growth in the next two to three years. It also pointed out that monetary policy has become “increasingly conducive to managing inflationary expectations”.
S&P highlighted that ratings of several Indian financial institutions remain capped by the sovereign rating, given the “direct and indirect influence that the sovereign has on financial institutions operating in the country”.
The agency also credited the Insolvency and Bankruptcy Code (IBC), introduced in 2016, for strengthening the payment culture and rule of law. “The code has tilted the balance in favour of the creditors. It has also promoted a credit culture that encourages restructuring of going-concern entities,” it said.
Separately, S&P had raised credit ratings of major state-run and private corporations, including ONGC, Power Grid Corporation of India, NTPC, and Tata Power, to ‘BBB’ from ‘BBB-‘. The outlooks were marked stable. India Exim Bank and Indian Railway Finance Corporation (IRFC) also received upgrades to ‘BBB’ from ‘BBB-‘.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
view comments
Read More
Business
Gross GST collections for November stand at over Rs 1.70 lakh crore; up 0.7 per cent – The Times of India
GST collections: The Gross Goods and Services Tax (GST) collections for the month of November came in at over Rs 1.70 lakh crore. This is a rise of 0.7%, according to official data.SBI Research in a report in November had estimated that the gross domestic GST collections may come around Rs 1.49 lakh crore for November 25 (returns of October 25 but filed in Nov’25), a YoY growth of 6.8%.“Coupled with Rs 51,000 crore of IGST and cess on Import, the November GST collections thus could cross Rs 2.0 lakh crore, driven by the peak festive season demand led by lower GST rate and increased compliance while most of states experience positive gains,” SBI Research had said.This story is being updated
New Delhi: Several crucial deadlines have been extended in December 2025, including ITR for tax audit cases, ITR filing and PAN and Aadhaar linking. These deadlines will be crucial in ensuring that your financial affairs operate smoothly in the months ahead.
Here is a quick rundown of the important deadlines for December to help you stay compliant and avoid last-minute hassles.
ITR deadline for tax audit cases
The Central Board of Direct Taxes has extended the due date of furnishing of return of income under sub-Section (1) of Section 139 of the Act for the Assessment Year 2025-26 which is October 31, 2025 in the case of assessees referred in clause (a) of Explanation 2 to sub-Section (1) of Section 139 of the Act, to December 10, 2025.
Belated ITR filing deadline
A belated ITR filing happens when an ITR is submitted after the original due date which is permitted by Section 139(4) of the Income Tax Act. Filing a belated return helps you meet your tax obligations, but it involves penalties. You can only file a belated return for FY 2024–25 until December 31, 2025. However, there will be a late fee and interest charged.
PAN and Aadhaar linking deadline
The Income Tax Department has extended the deadline to link their PAN with Aadhaar card to December 31, 2025 for anyone who acquired their PAN using an Aadhaar enrolment ID before October 1, 2024. If you miss this deadline your PAN will become inoperative which will have an impact on your banking transactions, income tax return filing and other financial investments.
Business
Stock Market Live Updates: Sensex, Nifty Hit Record Highs; Bank Nifty Climbs 60,000 For The First Time
Stock Market News Live Updates: Indian equity benchmarks opened with a strong gap-up on Monday, December 1, touching fresh record highs, buoyed by a sharp acceleration in Q2FY26 GDP growth to a six-quarter peak of 8.2%. Positive cues from Asian markets further lifted investor sentiment.
The BSE Sensex was trading at 85,994, up 288 points or 0.34%, after touching an all-time high of 86,159 in early deals. The Nifty 50 stood at 26,290, higher by 87 points or 0.33%, after scaling a record intraday high of 26,325.8.
Broader markets also saw gains, with the Midcap index rising 0.27% and the Smallcap index advancing 0.52%.
On the sectoral front, the Nifty Bank hit a historic milestone by crossing the 60,000 mark for the first time, gaining 0.4% to touch a fresh peak of 60,114.05.
Meanwhile, the Metal and PSU Bank indices climbed 0.8% each in early trade.
Global cues
Asia-Pacific markets were mostly lower on Monday as traders assessed fresh Chinese manufacturing data and increasingly priced in the likelihood of a US Federal Reserve rate cut later this month.
According to the CME FedWatch Tool, markets are now assigning an 87.4 per cent probability to a rate cut at the Fed’s December 10 meeting.
China’s factory activity unexpectedly slipped back into contraction in November, with the RatingDog China General Manufacturing PMI by S&P Global easing to 49.9, below expectations of 50.5, as weak domestic demand persisted.
Japan’s Nikkei 225 slipped 1.6 per cent, while the broader Topix declined 0.86 per cent. In South Korea, the Kospi dropped 0.30 per cent and Australia’s S&P/ASX 200 was down 0.31 per cent.
US stock futures were steady in early Asian trade after a positive week on Wall Street. On Friday, in a shortened post-Thanksgiving session, the Nasdaq Composite climbed 0.65 per cent to 23,365.69, its fifth consecutive day of gains.
The S&P 500 rose 0.54 per cent to 6,849.09, while the Dow Jones Industrial Average added 289.30 points, or 0.61 per cent, to close at 47,716.42.
India’s logistics push puts fashion in the fast lane
Southeast Asia storm deaths near 700 as scale of disaster revealed
Gross GST collections for November stand at over Rs 1.70 lakh crore; up 0.7 per cent – The Times of India
-
Sports1 week agoWATCH: Ronaldo scores spectacular bicycle kick
-
Entertainment1 week agoWelcome to Derry’ episode 5 delivers shocking twist
-
Politics1 week agoWashington and Kyiv Stress Any Peace Deal Must Fully Respect Ukraine’s Sovereignty
-
Business1 week agoKey economic data and trends that will shape Rachel Reeves’ Budget
-
Tech6 days agoWake Up—the Best Black Friday Mattress Sales Are Here
-
Politics1 week ago53,000 Sikhs vote in Ottawa Khalistan Referendum amid Carney-Modi trade talks scrutiny
-
Fashion1 week agoCanada’s Lululemon unveils team Canada kit for Milano Cortina 2026
-
Tech6 days agoThe Alienware Aurora Gaming Desktop Punches Above Its Weight