RBI

Rupee's coronavirus-induced weakness to linger in near-term: Poll

Some strategists said the RBI's interventions prevented the rupee from falling further.

Residential realty stares at major liquidity crunch

With limited sales likely over the next few months owing to the coronavirus pandemic and its impact on the global economy is expected to pose a key challenge for residential real estate's liquidity and financing options.

Financial sector to see asset quality stress, says Icra

Some of the private banks witnessed 3-10 per cent reduction in their deposit base since the imposition of the moratorium on Yes Bank.

IndusInd banks on PE firms for $500-$750 mn of confidence capital

Blackstone, Apax and Carlyle among funds tapped; board seats, rights to be negotiated.

Companies, banks in talks on bond deals; RIL to raise up to Rs 25,000 crore

RIL announcement comes a day before the second instalment of TLTRO scheduled today.

RBI director presses for bold initiatives to revive MSME sector, amid Covid-19 crisis

Even the steps like three-month moratorium on EMI payments offered by banks to borrowers hit by Covid-19 lockdown are not providing any income protection as they will have to bear the extra cost of interest charged by lenders and a longer repayment period.

Private lenders sell CDs as RBI injects liquidity

CD rates have fallen up to 275 bps since Friday after the RBI announced liquidity injection of Rs 3.74 lakh crore into the system in an unscheduled bi-monthly policy announcement.

RBI rejects lenders' call for asset classification pause

The Reserve Bank of India (RBI) has rejected requests for standstill in asset classification from banks, dashing the hopes of lenders as well as companies seeking to avoid the defaulter tag.

RBI raises short-term borrowing limit for states and UTs by 30%

States’ short-term borrowing limits have been increased by as much as 30% as they face pressure on revenues with economic activity coming to a halt and the transfers from the Central government also getting crushed due to lower Goods and Services Tax collection.

RBI moratorium: Lenders’ body wants RBI to freeze bad loan recognition as on February 29

Lenders do not want any borrower who makes use of the moratorium to fall into the category of a non-performing loan because of having missed payments in the previous two months – January and February. A loan gets classified as a bad loan if the interest or principal is overdue 90 days.

States want FRBM limit raised to 4%

CMs seek relaxation in state fiscal deficit limit to deal with additional spending, revenue fall due to Covid-19. Under the fiscal responsibility and budget management (FRBM) act, the states are mandated to keep their fiscal deficit under 3% of their respective gross state domestic product (GSDP).

Banks and NBFCs to see bad loans pile up post moratorium period: ICRA

Lenders with higher share of asset classes such as microfinance, commercial vehicles and small companies will be more vulnerable as their repayment ability depends on immediate cash flows.

RBI announces more measures to deal with economic fallout of COVID-19

In a statement, the RBI said presently value of goods or software exports made by the exporters is required to be realised fully and repatriated to the country within a period of 9 months from the date of exports.

Ignoring RBI’s relief, some lenders ask microfinance clients to pay loan instalments

These lenders -- both banks and non-banks -- with sizeable loan exposure to NBFC-MFIs have also deducted the installments ignoring the request for moratorium. They said the policy on moratorium is still a work under progress.

Exporters seek nod to restart ops with 50% staff, essential tag

FIEO has asked the government to declare the complete supply chain, including labour required for loading, transport of goods, courier services and port facilities, as essential service. Manufacturer-exporters have sought permission to start manufacturing and fabrication work after completion of the lockdown period.

Once-in-a-decade moves throw up big opportunities in forex market

In just one month, dollar-rupee volatility levels have quadrupled from 4% to 16% levels.

Make banks comply with RBI moratorium on EMIs: Manish Tewari

Party spokesman Manish Tewari made this demand to the ministry amid reports that many banks were proceeding to follow the regular EMI deduction schedule despite the RBI’s nod for deferring them for three months.

RBI says many banks are not extending doorstep services to senior citizens

The directions assume significance as they come amid the COVID-19 pandemic, where the senior citizens have been marked out as the most vulnerable and advised against stepping out of their homes as the country fights to limit the impact through radical measures like a three-week lockdown which is underway.

​Retailers seek RBI intervention as banks unwilling to extend debt moratorium to borrowers

The country is under a three-week lockdown starting March 25 and the number of cases infected with the virus is rising steadily. The RBI had announced a moratorium under which borrowers of all the term loans were given a breather from repayments for three months.

BP Kanungo gets one-year extension as RBI Deputy Governor

"The central government has re-appointed B P Kanungo as deputy Governor, Reserve Bank of India for a further period of one year with effect from April 3, 2020, or until further orders, whichever is earlier, upon completion of his existing term on April 2, 2020," the RBI said in a release.

Despite moratorium, some lenders ask for March EMIs

Some lenders appear to be flouting the Reserve Bank of India's (RBI) directive to banks to offer moratorium to borrowers on repayment of loans for the month of March.

Apparel industry to close FY20 with muted sales growth and moderation in profitability: ICRA

Amid a subdued demand scenario in the domestic as well as the international markets, intensifying competition and lags witnessed in the clearance of export incentives, most players across the sector are expected to close FY20 with muted sales growth and moderation in profitability and liquidity.

RBI's loan EMI moratorium proposal for borrowers: Here's all you need to know

Sunil Mehta, Chief Executive, Indian Banks’ Association (IBA)answers some common questions regarding the 3-month moratorium on loans announced by the Reserve Bank of India

Opting for EMI moratorium? Be ready to pay more

Borrowers have been advised to give instructions in advance to stall the debit, even if they have no money because the bank where they have their savings account might charge them for failure of standing instruction.

Need more support from RBI, DPIT to pay salaries in April: Retailers Association of India

The RBI announced that all lenders can freeze repayments on term loans outstanding March 1 and suspend interest payments on working capital facilities for three months. While accumulated interest can be paid later, the loans won't be in default. However, this isn't enough, said RAI.

RBI likely to cut interest rates by 100 bps in FY21: Fitch Solutions

Fitch Solutions said an easing of inflation back within the RBI's 2-6 per cent target range will provide room for the RBI to ease monetary policy further over the course of the year to support the economy.

Centre asks states not to stop payment of renewable energy generators

In the letter, the ministry said the power ministry has recently issued instructions providing for a moratorium to distribution companies or discoms for making payments to electricity generating companies in the wake of COVID-19 outbreak and the following nationwide lockdown.

Small savings rate cuts make banking & PSU debt funds attractive

Investors looking for higher returns post the sharp cut of interest rates in small savings products and bank deposits by up to 140 basis points could turn to banking and PSU debt funds.

Small savings rate cuts make banking & PSU debt funds attractive

​​For those in the high tax bracket, if they hold these funds for more than three years, these products will also get indexation benefits, which will significantly improve the post-tax returns.

View: The phasing of three categories of expenditures by govt is important to avoid Covid catastrophe

On what kind of expenditures that GoI must undertake, there is a plethora of advice.

RBI is on right track but it can do a lot more

RBI fires the daisy cutter but absence of large fiscal intervention is a big hole.

'Motilal Oswal Focused 25 Fund is well placed to withstand current economic environment'

Siddharth Bothra, Senior VP and Fund Manager, Motilal Oswal Mutual Fund, listed various investments and largest holdings to support his claim.

BoB offers refund of March EMI to home, auto loan customers

RBI has offered this option to mitigate the burden of debt servicing brought about by disruptions on account of COVID 19 pandemic. The bank's managing director and CEO Sanjiv Chadha said there are some cases where instalments have already been deducted because the RBI instructions came in over the last few days while the applicable period is from March 1, 2020.

Kotak Mahindra Bank loan EMI moratorium: Terms, charges

Here is a look at the details Kotak Mahindra Bank's moratorium on loan EMIs. These are details as published on the bank's website.

Measures that can boost MSMEs during Covid-19 lockdown

As the RBI pumps in more cash into the banking sector, deferring or relieving the MSMEs of loan repayments could come as a welcome move. Most businesses are looking for financial support from the government and doing this can help them cope with cash flow problems.

Moratorium plan: Borrowers unlikely to get significant gains; banks to charge interest later

The accrued interest will be collected by the lender in the form of additional EMIs.

Savers head to safer assets on shaky markets

Possible beneficiaries could be traditional banks as investors look to shed risky assets.

Highlights of RBI's monetary statement

The highlights of the seventh bi-monthly monetary statement for 2019-20 by the RBI amid COVID-19 pandemic.

RBI stimulus: Which sectors will gain the most?

RBI has just delivered the biggest rate cut, bringing the repo rate to an all-time low of 4.40%. It has also cut the CRR by 100 basis points to unlock Rs 1.37 lakh crore primary liquidity in the banking system and allowed banks and other lending institutions to extend loan repayment schedules and moratorium by three months.RBI stimulus: Which sectors will gain the most?

RBI rate cut: Best debt mutual funds across categories. Find out which one suits you

There are a variety of debt mutual fund options, each suited for the needs of different investors. You can use debt funds to save for your child’s annual education expenses. Or save up enough to pay the down payment of your house next year.

Punjab National Bank loan EMI moratorium: Here's all you need to know

Here is a look at the details Punjab National Bank's (PNB) moratorium on loan EMIs. These are details as published on the bank's website.

Amid coronavirus outbreak, RBI loan breather for telcos

Experts though have called on the government to consider a three-month moratorium on operators’ revenue-share commitments for the April-June quarter FY21, which would be more significant relief for the debt-laden telecom sector that is currently reeling under the impact of the adjusted gross revenue (AGR) payments crisis.

Outstanding dollar loans to pinch companies

“At this point of time, one can do nothing except curtail costs and postpone capex plans. Those are the only immediate solutions we have. We are watching the markets closely and taking stock,” said a top official at a leading Indian conglomerate based in Mumbai.

BofA pegs FY21 CAD at 0% on crude oil plunge

BofA said RBI raising the ceiling for FPI investment in government bonds can help raise forex cover.

Finance Minister, RBI meeting on Tuesday to decide first-half borrowing plan for FY21

The meeting between the Finance Ministry and Reserve Bank of India (RBI) will be held through video conferencing for the first time as there is lockdown across the country. As per the Budget, the government plans to borrow Rs 5.36 lakh crore from the market in 2020-21, higher than the Rs 4.99 lakh crore estimated for the current financial year.

On Day 3, RBI brings out the heavy artillery

With its latest round of announcements, the RBI will be injecting Rs 3.74 lakh crore into the country's financial system. These measures come just hours after Moody's cut India's growth forecasts for 2020 calendar year to 2.5% from 5.3%.

RBI liquidity measures lead to fall in yields

Some of India’s most highly-rated companies have had to delay bond offerings.

Responding to coronavirus crisis, RBI slashes rates

The Reserve Bank of India slashed interest rates on Friday, following other central banks that have taken emergency measures to counter the economic fallout from the fast-spreading coronavirus pandemic.

RBI's decisions progressive, timely: JP Nadda

Describing the RBI's decisions, including lowering the repo rate, as progressive and timely, BJP President JP Nadda said that its announcements would help the middle class and give strength to the economy amid a 21-day nationwide lockdown to combat coronavirus.

Not having to pay at this time is the right thing: SMEs on RBI's Covid-19 moratorium

The problem with this crisis is, no one knows when it would be over. Even the RBI hopes the pandemic will fizzle out in three months, but that time frame is up in the air. In such a scenario, is the period of three months enough?

What did RBI do to address coronavirus crisis?

This massive cut has brought down repo rate to 4.4%, which is the lowest ever.

RBI allows lenders to provide 3-month moratorium on loans

Banks will now have discretion in deciding the limits on working capital, with RBI saying that no payment miss should be considered a default and reported to credit information companies.

UPI crosses 100 crore transactions in March despite COVID-19 lockdown and Yes Bank crisis

Nearly all digital channels operated by NPCI such as UPI, IMPS, Fastag and Aadhar Enabled Payment System (AePS) recorded reduced traffic in March; only BBPS bucks the trend and posts higher volumes.

Govt sticks to BE to borrow Rs 4.88 lakh cr in H1FY21

The government said it will borrow Rs 4.88 lakh crore in the first half of FY21, sticking to the estimate in the budget presented before the coronavirus outbreak, and promised to do everything needed to meet the demands of the economy.

Repayment moratorium covers all loans, including credit card dues: RBI

Issuing the detailed instructions on the moratorium announcement later in the day, the RBI said, "The instalments include payments falling due from March 1 to May 31 such as the principal and/or interest components; bullet repayments; equated monthly instalments; and credit card dues."

RBI provides much-needed shot in the arm to corporate debt market

RBI on Friday announced measures to inject Rs 3.74 lakh crore into the banking system.

ET View: RBI should better target liquidity injection

​The central bank is not directly purchasing corporate bonds of large enterprises and major non-bank finance companies (NBFCs), as is par for the course in the mature markets. Instead, RBI has announced long-term repurchase obligations or repo in government securities with banks, so that the latter can then use the liquidity available to subscribe to corporate bonds or commercial paper or debentures.

Did RBI rate cut not go down well on D-Street?

Analysts and economists welcomed RBI's better-than-expected measures, yet the stock market did not seem to be too enthused. Four analysts do the post mortem...Did RBI rate cut not go down well on D-Street?

RBI's moratorium on loan EMIs: What we know so far

The RBI today announced a bazooka for borrowers, giving them a three-month moratorium on loan repayment.

RBI should give clear order to stop loan recovery: Ajit Pawar

Pawar, who is also the Maharashtra's finance minister, said the Central bank should issue clear instructions regarding the three-month moratorium. "Banks will not heed just requests. The RBI decisions announced today will partially help revive the economy, which is affected by the coronavirus outbreak," he said.

Realtors say RBI decisions to boost liquidity; seek quick transmission

The RBI cut repo rate to 4.4% and reduced the cash reserve ratio maintained by the bank by 100 basis points. The reverse repo rate was cut by 90 bps to 4%. NAREDCO President Niranjan Hiranandani said the RBI's move to pump fresh liquidity in the system will certainly help to mitigate the stressed cash flow and debt pressure in the economic system.

RBI steps to help mitigate impact of coronavirus lockdown on biz: Industry

RBI Governor Shaktikanta Das predicted a big global recession and said India will not be immune. It all depends how India responds to the situation, he said. Global slowdown could make things difficult for India too, despite some help from falling crude prices, Das said, adding food prices may soften even further on record crop production.

View: Welcome half-steps RBI, not quite whatever it takes

The RBI seems to labour under the delusion that banks respond to an offer of funds with the same alacrity shown by the average Malayali male towards a glass of decent whisky placed before him. If the banks did not snap up debentures, commercial paper and other debt securities offered by private companies in the recent past, why would they develop a new taste for private company debt now?

RBI's decision to provide much needed relief to people, businesses: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Friday said decisions of the RBI will provide much needed relief to people and businesses.

Here's how top mutual fund managers reacted to RBI rate cut

The Reserve Bank of India's (RBI) monetary policy committee trimmed key policy rate by 75 basis points to 4.40 per cent.

SBI loan EMI moratorium: All you need to know

Here is a look at the details of the country's largest lender, State Bank of India's (SBI) moratorium on loan EMIs. These are details as published on the bank's website.

RBI's bazooka: Here's how HDFC Bank's Abheek Barua broke it down

RBI on Friday announced delivered a major policy rate cut and unveiled several other measures to flood the market with cheaper funds in a bid to mitigate the pain of the Coronavirus-induced lockdown of the economy. The measures came hours after Finance Minister Nirmala Sitharaman had unveiled Rs 1.7 lakh crore relief package for the poor to help them tide over the disruption. However, the measures did not seem to have impressed equity markets. Though analysts and economists gave them a thumbs-up. Here is how Abheek Barua, Chief Economist & Executive Vice-President, HDFC Bank reacted to the RBI policy.RBI's bazooka: Here's how HDFC Bank's Abheek Barua broke it down

Mega merger of state-run banks comes into force from April 1, says RBI

Govt notified the amalgamation of 10 state owned banks into four as part of its plan to create stronger PSBs.

RBI cuts repo rate, unleashes $50 billion ‘bazooka’ in coronavirus fight

The RBI cut the Cash Reserve Ratio by 100 basis points to 3 per cent to boost liquidity.

India may slash borrowing from market in April amid lockdown: Sources

Market borrowing is challenging in the current environment, a senior finance ministry official said.

Economic growth should start limping back from July: SS Mallikarjuna Rao

Cost of borrowing for MSME is in a sweet position at this point, says MD & CEO, PNB.

Wish RBI had allowed one-time loan recast: Keki Mistry

Repo provided for lending to NBFCs, HFCs is a welcome move, says VC & CEO of HDFC.

RBI allows banks to trade in offshore rupee derivative market

In the past, experts have expressed concern about the NDF market - till now inaccessible to Indian banks - as among the measures which drive the rupee movement.

RBI to infuse Rs 3.74 lakh cr liquidity into financial system

Reserve Bank Governor Shaktikanta Das on Friday said about Rs 3.74 lakh crore liquidity on aggregate basis will be infused into the financial system to deal with the COVID-19 pandemic.RBI to infuse Rs 3.74 lakh cr liquidity into financial system

RBI refrains from growth and inflation projections amid Covid uncertainties

“Given this heightened volatility, unprecedented uncertainty and extremely fluid state of affairs, projections of growth and inflation would be heavily contingent on the intensity, spread and duration of COVID-19. Precisely for these reasons, the MPC refrained from giving out specific growth and inflation numbers,” Reserve Bank of India Governor Shaktikanta Das said.

RBI cuts repo rate to lowest ever: Full text of Governor's speech

RBI to infuse Rs 3.74 lakh cr liquidity into financial system

Reserve Bank Governor Shaktikanta Das on Friday said about Rs 3.74 lakh crore liquidity on aggregate basis will be infused into the financial system to deal with the COVID-19 pandemic.

RBI not done, likely to cut rate by at least 50 bps more: Experts

Here's a look at what top economists and experts have to say about the rate cut:

RBI monetary panel finalises steps to save economy from coronavirus

India yesterday unveiled a Rs 1.7 lakh crore spending plan to curb the impact of the virus outbreak.

Bonds rally on new foreign investment category; H1 borrowing in focus

The RBI said on Monday it was introducing a new category called the "fully accessible route" for foreign investors.

Debt funds get RBI booster; medium, long-term schemes to gain most

The central bank also announced targeted LTROs (TLTRO) at monetary policy review.

RBI's dim growth, inflation forecasts show really high degree of uncertainty: Jahangir Aziz

Only way to solve the virus crisis is through a global coordinated solution, says Head Economist of Emerging Markets, JP Morgan.

Sharpest one-day jump marks the opening of Week 2 of India's coronavirus lockdown

In the sphere of economy, businesses showed tentative signs of limping back to normality even as supply bottlenecks continued to hinder availability of everyday items across the country.

PNB, IOB cut lending rates by 75 basis points

"We have decided to pass on the full benefit of the recent RBI's policy rate cut of 75 bps to our borrowers covered under external benchmark-linked product of repo-linked lending rate (RLLR)," PNB said in a statement.

Liquidity push trims CD interest rates

Axis Bank’s CDs traded as high as 7.75 per cent before RBI announced an unscheduled bi-monthly policy last Friday. These instruments are now trading in the range of 3.90-5.90 per cent across maturities running up to nine months.

RBI’s 2nd tranche of OMO receives robust response

The central bank received bids for Rs 39,529 crore against Rs 15,000 crore notified by the RBI.

Loan moratorium: Most pvt banks go for "opt-in" option

The RBI had announced a 3-month moratorium on loan repayments in the wake of COVID-19 crisis for dues to be paid between March-May 2020 and left it to the bank to implement the same. A slew of state-run banks have gone for an "opt-out" option where the repayments automatically get deferred unless a customer informs of her willingness to pay.

ICICI Bank loan EMI moratorium: How it works and the charges

Here is a look at the details of ICICI Bank's moratorium on loan EMIs. These are details as published on the bank's website.

Trending stocks: Indian Overseas Bank shares down 1%

Shares of Indian Overseas Bank traded 1 per cent down in trade at 11:10 am on Wednesday .

HDFC Bank loan EMI moratorium: Terms, conditions and charges

Here is a look at the details of HDFC Bank's moratorium on loan EMIs. These are details as published on the bank's website.

India opens access to benchmark sovereign bonds in index bid

Modi’s government needs inflows to fund a $22.6 billion stimulus package.

View: Scorching summer for banks ahead amid Covid-19 outbreak

For bankers, the approaching summer will not only bring a steady rise in temperature, but also branches and offices of the banks will have to face a lot of heat in meeting the tough challenges, in the execution of plans and guidelines announced by regulatory and monetary authorities, in the background of a countrywide lockdown and an acceleration in the spread of COVID 19 with increasing fatality.

Bigger PNB to have edge in getting big corporate customers

The merger of United Bank of India (UBI) and Oriental Bank of Commerce (OBC) with Punjab National Bank has made it the second-largest state-owned bank.

YES Bank raises Rs 3,500 crore via CDs in second attempt

Two large state-run banks are said to have subscribed to these money market instruments.

Covid-19 pandemic: Finmin writes to RBI on relief measures

Finmin highlighted the need for relief measures as individuals & businesses face loss of income.

PSU banks announce loan EMI moratorium for customers via tweets

Lenders like Punjab and Sindh Bank, PNB, Canara Bank have announced EMI loan deferment via Twitter.

Green shoots of recovery wither due to Covid: CLSA

Japanese brokerage firm Nomura also sees the lockdown impacting growth recovery.

Govt to borrow more aggressively in April-Sept than expected

India aims to borrow Rs 4.88 lakh crore in the period, nearly 63% of its total annual borrowing plan.

Sensex snaps 3-day rally, dips 130 points despite RBI rate cut

Equity benchmark index Sensex erased early sharp gains to close lower by 131 points on Friday, snapping its three-day rising streak as concerns over an impending recession heightened after the RBI said the projected annual growth was at risk due to the COVID-19 outbreak. After opening significantly higher, the 30-share BSE barometer gave up all the gains to end 131.18 points or 0.44 per cent lower at 29,815.59. It hit a high of 31,126.03 and a low of 29,346.99 in day trade. On the other hand, the broad-based NSE Nifty closed 18.80 points, or 0.22 per cent, higher at 8,660.25.Sensex snaps 3-day rally, dips 130 points despite RBI rate cut