ICICI Bank has been under pressure due to rising NPAs especially from the sectors linked to infrastructure.
The approval includes an Rs 8,500-crore infusion from parent Housing Development Finance Corp, which will allow it to maintain its 25.6% current shareholding, potentially leaving about Rs 15,500 crore to be raised from the market.
Banks, especially private sector ones, had to borrow short-term funds to make the LCR investment.
The Committee on Urban Cooperative Banks had recommended the voluntary conversion of large Multi -State UCBs into Joint Stock Companies and other UCBs into Small Finance Banks.
Fullerton will also raise Rs 10,000 crore through debt and commercial paper.
RBI had conducted interviewed three senior bureaucrats and six bankers for the post of RBI Deputy Governor which fell vacant in July last.
SBI’s 1- year MCLR at 8.25%; Benchmark prime lending rate for HDFC will now go up to 16.45%
As rising protectionism and tariff wars threaten global trade, countries such as India will increasingly look within their own continent to sell their produce, Blyth said.
"Every 1% of openness by a country provides a 1% growth in per capita income and 0.50% in GDP."
At the RBI, Balakrishnan will be in charge of the central bank’s balance sheet to ensure accounting policies and procedures comply with regulations.
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