Financial Update- Day 1

 

Hi everyone, my name is Hritik this is my first blog. I have never thought that I will write a blog but here I am. In this blog I am going to take up a challenge, which is given by Parth Varma.  On his YouTube channel he gave this challenge.

RULE OF THE CHALLENGE:

1.       Select a sector and three companies in that sector.

I have selected the BANKING SECTOR and HDFC, SBI and BANK OF BARODA.

2.       Read about company you have selected and sectors.

3.       Report whatever you have read for 100 days.

THIS IS DAY 1/100

I am not really expecting any monetary return from this challenge, but I do trust Parth Varma as a teacher, so without any expectation I am doing this and if you love finance do follow him on YouTube.

WHY I CHOOSE BANKING SECTOR AND THIS THREE COMPANY?

Firstly I wanted to go with energy sector as it is one of the prominent sectors which have a lot of potential, but I have very keen interest in how bank works and how banks have faces and have made direct impact on economy.  I choose HDFC and SBI because this two are biggest private and public bank respectively in India as per market cap, and for BOB I have my account in this bank so choose this bank.

TODAY’S UPDATE.

As of February 20, 2025, the RBI has implemented a 25 basis point (one basis point is equal to 0.01%) reduction in the repo rate (the rate at which RBI lends money to commercial bank), bringing it down to 6.25%. This adjustment, announced during the Monetary Policy Committee (MPC). This reduction is anticipated to provide relief to borrowers by potentially lowering loans.

The National Payments Corporations of India (NPCI), the “Pre-sanctioned Credit Lines on UPI” allows individuals and small businesses to access pre-approved credit lines from banks directly through UPI platforms. These advancements underscore UPI’ from simple payment gateway to a comprehensive financial ecosystem.

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