RBI would purchase five government bonds under open market operations (OMOs) on June 20.
RBI last year mandated companies to store their payments data "only in India" so that the regulator could have "unfettered supervisory access".
The Reserve Bank of India (RBI) cut the repo rate to 5.75% on June 6, its third cut in 2019.
The committee will suggest long-term solutions for the economic and financial sustainability of the micro, small and medium enterprises, RBI said in a statement, adding the panel will submit the report by the end of June.
RBI will not hesitate to take any required steps to maintain financial stability, Das said.
“Once this cycle turns, we can look for a lot of upside in coming months and quarters.”
The issue was discussed during a meeting between the minister and representatives of e-commerce and technology industry.
Govt must ownership of all banks in a single holding company and leave it to appoint the PSB boards.
Mishra has been serving RBI for about 30 years now. He has been associated with many research papers.
Modi is likely to have discussed the reforms road map for every department with a view to making it easier to do business in the country and boost economy.
The scheme can also invest in equities of listed overseas companies, in line with the RBI and SEBI guidelines.
Generally, an interest rate cut in deposits is seen as a precursor to a lending rate cut.
The lenders have been trying to sell the airline as a going concern since the past five months, but failed due to many a reason.
Sell Karnataka Bank Ltd. at a price target of Rs 100.0 and a stoploss at Rs 108 from entry point.
PwC has hired three law firms as it expects a legal tussle to erupt soon.
Central bank has issued instructions aimed at mitigating risks in ATM ops and enhancing security.
FICCI’s Secretary Dilip Chenoy has said that the new framework very aptly balances the interest of all stakeholders in the eco-system.
Foreign investors are relatively comfortable with the India story right now, says Dennis
The government securities to be purchased in the auction would be communicated in due course, the RBI said.
The firm has made representations to the RBI about the unfairness of such a ban and sought a relaxation of its stance, one of the people cited above said.
The global rating agency cut India's growth forecast for the current fiscal to 6.6 per cent.
Let's take a look at the factors that may influence Tuesday's proceedings.
RBI had cut their repo rate by 25bps during the MPC earlier this month to bolster the economic growth; their third such cut since Das assumed charge in January 2019.
Since the past three RBI rate cuts, large banks have cut the MCLRs (Marginal Cost of Funds based Lending Rates) in the range of 5-10 bps, according to Motilal Oswal.
"Private banks have enough capital to grow and can easily gain market share from PSU banks."
Jet has a debt of nearly Rs 8,500 crore on its books with total liabilities of around Rs 25,000 crore.
The idea is not to repeal APMC Act but to replace it with the APLM Act, says the Niti Aayog VC.
The central bank bought $7.724 billion and sold $2.823 billion in the spot market.
The project has to be completed within a year of the commencement of the contract with the RBI.
The 6 member committee will be headed by Indian Banks’ Association chief executive V G Kannan with a specific mandate to review the existing interchange fee and pricing structures, RBI said.
10-year yield will stay close to current levels at 6.98% by end of June.
The RBI has current a surplus of Rs 9 lakh crore, of which the government wants a transfer Rs 3 lakh crore.
SFIO, which is investigating the IL&FS case, has suggested that the RBI launch an internal investigation into the issues linked to the NBFC to probe how its mechanisms failed to act in time.
“If markets continue to fall, at some point of time the valuations will become a support.”
RBI said there were serious deficiencies observed in the credit appraisal.
SBI has decided to link its home loan interest rates to the repo rate. Here's what this means for borrowers.
Default is not a predictable event, factors that lead a borrower to default are too many to prevent. The government and regulators need to act fast and not wait for the next default.
RBI had estimated that the GNPAs ratio might improve to 10.3 per cent by March 2019.
The participants have to submit their offers in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system.
A penalty of Rs 11.25 lakh each has been imposed on the two PPI issuers, according to an RBI release.
They opined the high non-performing loans in the system do not require additional capital to be kept aside by the Reserve Bank.
Subrahmanyam said the search committee is already in touch with some of the best names in the country including ex-governors of RBI, who will be given the mantle of leadership of the bank.
The repo rate, the currently operative one, was cut from 6 per cent to 5.75 per cent.
Buy Federal Bank Ltd. at a price target of Rs 115.0 and a stoploss at Rs 104 from entry point.
The regulator was working towards an optimal level of regulatory controls so that the NBFC sector remains remains resilient, he said.
In its plea before the appellate tribunal, ICICI Bank submitted that there has been no progress in its petition filed before the NCLT Allahabad in last nine months.
The effect of the rate cut has not translated or come to NBFCs., says Muthoot Finance MD.
The RBI panel, headed by former governor Bimal Jalan, was originally supposed to submit the report in April.
BofA Merrill Lynch said that the RBI Act permits transfer of past excess reserves.
Companies running on wholesale-to-wholesale model, are facing some amount of challenges, says Trivedi
Reserve Bank of India last week issued a prudential framework for resolution of stressed assets.
The cost of borrowing for AAArated NBFCs declined by 13 basis points in May versus April in the debt market.
The central bank is monitoring the activity and performance of the NBFC sector .
Smaller banks in specific deals may now have to follow larger lenders who have more at stake in a consortium of creditors.
The Association of Power Producers was one of the parties that have fought a legal battle for 14 months with the RBI over a February 12, 2018 circular.
RBI's new norms provides some leeway to lenders and encourages them to refer cases to IBC.
The original February 12, 2018, circular had tightened the screws on those who missed loan repayments and scrapped all debt recast plans.
A further escalation in trade dispute may trigger a major fall in the stock market.
The Reserve Bank of India (RBI) today issued revised circular on resolution of stressed loans. The Supreme Court had on April 2 struck down RBI's February 12 circular whereby the central bank had mandated lenders to initiate resolution or restructuring of loans worth Rs 2,000 crore or more even if the default was recorded for a single day.RBI releases prudential framework for resolution of stressed assets
“The present balance outstanding is Rs 67.65 crore plus unapplied interest from the date of turning into a non-performing loan,” the bank said.
The governor said system-level liquidity was in a surplus mode.
Lenders set to finalise resolution for debt-ridden airline in line with RBI’s new stressed assets norms.
Let’s have a look at the factors that would potentially move markets all through Monday.
The MPC notes that "growth impulses have weakened significantly as reflected in a further widening of the output gap compared with the April 2019 policy".
It can be noted that the government has had to rework fiscal targets especially during the latter part of the first five years as growth seemed to trail.
Well-functioning money market is a crucial link in chain of monetary policy transmission.
The spreading debt woes have fueled talk that the crisis is entering a second, more dangerous, phase.
India has one of the lowest ratios of ATM cash withdrawal relative to cash in circulation, revealed the report.
RBI cut its key rate and left door open for more policy easing to shore up a sagging economy.
Passive inflation and the central bank’s full tank of gas make the case to cut even stronger.
Chhibber, Executive President of J&K Bank, was appointed following removal of Parvez Ahmed as CMD of the bank by the Jammu & Kashmir administration.
Deloitte had disregarded the RBI's regulations and turned a blind eye to IFIN’s 'evergreening' of loans.
The only one issue now is that all lenders will have to sign the ICA, says IDBI Bank Deputy MD.
Stick with funds that have well-diversified portfolios tilted towards AAA or similarly rated securities.
The services receipt or exports during April 2018 stood at USD 17.56 billion.
The Central Bank said that the action is based on the deficiencies in regulatory compliance.
The shift in stance implies that more cuts are on the way as long as prices remain under check.
Rreductions in the REPO rates by the RBI have not been passed in full.
The resolution plan has to be implemented within 210 days of the initial default, instead of 180 days of the initial default.
SC had quashed RBI's Feb 12 circular that asked lenders to start resolution even if there was a 1-day default.
The Reserve Bank of India on Thursday delivered exactly what the markets had ordered. Yet, domestic equity indices logged their biggest one-day fall of 2019. Lakshmi Iyer of Kotak Mutual Fund decodes why the money policy did not go down well with the market and what the policy signalled for the interest rate cycle.RBI wasn’t explicit enough on liquidity: Lakshmi Iyer
The reserve had touched a lifetime high of $426.028 billion in April 2018.
Expectations are that the new framework will work towards easier liquidity.
NBFCs have been in focus in the last few months following a meltdown in infrastructure finance NBFC, IL&FS.
The Sensex fell 1.38 per cent to 39,529.72 points with financials leading the slide.
Trade issues may be taken up during US Secretary of State’s talks with S Jaishankar next week and at the G20 summit.
Rajnish Kumar said lowering of Basel III leverage ratio would augment the lendable resources.
Indian bonds and Forex markets were closed Wednesday on account of Id-Ul-Fitr.
Fincare Small Finance Bank and Kookmin Bank have been included in the second schedule of the Reserve Bank of India Act, according to RBI notifications.
Continuing to deliver good news for borrowers, the Reserve Bank of India (RBI) has announced another repo rate cut by 25 basis points. This is the third time in a row that the central bank has cut key rates this calendar year. Borrowers can hope for more rate cuts in the future as monetary policy stance has been changed from neutral to accommodative. Here is how Thursday's key announcements will affect your personal finances. (Text: ET Online)RBI monetary policy: What the rate cut means for your money
The banking regulator cut its key policy rate, repo rate, by 25 basis points in its policy review on Thursday.
Nifty Bank logged the biggest one-day fall in more than six months.
The repo rate, which now stands at 5.75 per cent, is the lowest since July 2010.
The rupee had settled at 69.26 against the US dollar Tuesday.
The government has to bear the brunt of infusing new vigour in the economy.
The RBI said that Batliboi has been banned due to “lapses identified in a statutory audit assignment carried out by the firm,” without giving any details.
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