Stock Market #7 - Car Loans Growth, Skill Development Scheme, Prompt Corrective Action, Mutual Funds

Car Loans Growth increased by 30% that is a good news for the Auto Sector. Besides that Average ticket size also increased by 20% from 4.5 Lakh to 5.5 Lakh. There is a direct correlation between the loan growth and the growth of the sector.

The government has also cleared 1300 Crore for Skill Development Scheme for the textile sector.

RBI has put Bank of India under Prompt Corrective Action. It has also put additional restrictions on the Union Bank of India. The reason for this action is increasing NPA's and negative return on assets for 2 consecutive years.

SBI and HDFC Mutual Fund have bought stakes in Ashiana Housing and Shaily Engineering Plastics respectively. Balrampur Chini is the new entrant in the F&O Ban.

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Stock Market #7 - Car Loans Growth, Skill Development Scheme, Prompt Corrective Action, Mutual Funds trading screen
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