Page 87 - Latest Updates on Reserve Bank of India
Covid-19: MIAL headed for debt restructuring under RBI's special window
RBI has formed a panel under the chairmanship of K V Kamath to advise on debt restructuring of corporate borrowers facing stress due to the pandemic.
 "Covid-19: MIAL headed for debt restructuring under RBI's special window")
States' GST revenue shortfall can be bridged by monetising debt, NSSF: SBI
The Centre said a special window can be provided to the states, in consultation with the RBI, for borrowing at a reasonable interest rate
 "States' GST revenue shortfall can be bridged by monetising debt, NSSF: SBI")
Bank credit grows 5.52% to Rs 102.2 trn in fortnight ended Aug 14: RBI data
Credit to the services sector continued to grow at a robust, albeit decelerated, rate at 10.7 per cent in June 2020 vis-a-vis 13 per cent in June 2019
 "Bank credit grows 5.52% to Rs 102.2 trn in fortnight ended Aug 14: RBI data")
Next tranche of gold bond opens on Aug 31, issue price at Rs 5,117/gm
The Sovereign Gold Bond Scheme 2020-21 series VI will open for subscription on August 31, 2020 and close on September 4, 2020
 "Next tranche of gold bond opens on Aug 31, issue price at Rs 5,117/gm")
Centre gives states two options to meet GST compensation cess shortfall
States given two options to borrow: Rs 97,000 crore or Rs 2.35 trillion, burden of repayment on extension of cess period
 "Centre gives states two options to meet GST compensation cess shortfall")
Top headlines: States to borrow Rs 2.35 trn, Ladakh situation 'serious'
Here are the top headlines of the day
 "Top headlines: States to borrow Rs 2.35 trn, Ladakh situation 'serious'")
No pressure from govt to participate in MSME scheme, says SBI chief
Leading bankers welcome term loan installment moratorium announced as economic relief
 "No pressure from govt to participate in MSME scheme, says SBI chief")
RBI's order could spell trouble for ARC-owning PE funds, say experts
The RBI had recently rejected a resolution plan - approved by the National Company Law Tribunal in June - that proposed selling Aircel's assets to UV Asset Reconstruction Company (UVARC)
 "RBI's order could spell trouble for ARC-owning PE funds, say experts")
Bad bank not only necessary but unavoidable in present situation: Subbarao
D Subbarao made a strong case for setting up a bad bank saying it is not just necessary but unavoidable in the present circumstances when NPAs are likely to balloon
 "Bad bank not only necessary but unavoidable in present situation: Subbarao")
Maintaining macroeconomic stability
It would not be easy to increase interest rates when the output is contracting
Another flaw in PSBs
Containing frauds will need wider reform
 "Another flaw in PSBs")
Don't hide behind RBI, clarify your stand on loan moratorium: SC to govt
A Bench headed by Justice Ashok Bhushan said the government had failed to clear its position on the issue despite the fact that ample powers were available with it under the Disaster Management Act
 "Don't hide behind RBI, clarify your stand on loan moratorium: SC to govt")
RBI surplus transfer to govt lowest in last 7 years, says S C Garg
Earlier this month, the RBI board approved a surplus transfer of Rs 57,128 crore to the central government for Accounting Year 2019-20 (July-June)
 "RBI surplus transfer to govt lowest in last 7 years, says S C Garg")
Overseas direct investment norms to be made simpler, based on principles
The regulator also intends to introduce late submission fee for delayed reporting of overseas direct investments (ODI) by Indian parties and resident Indians
 "Overseas direct investment norms to be made simpler, based on principles")
RBI restructuring package to help both borrowers, bankers: Experts
Besides the package, RBI has also permitted banks to provide additional finance to the borrowers, says Indian Overseas Bank MD & CEO
 "RBI restructuring package to help both borrowers, bankers: Experts")
RBI annual report: Policy resolve gives confidence despite macro challenges
The report stands out for its vast coverage, superior analysis, and key recommendations for policy priorities.
 "RBI annual report: Policy resolve gives confidence despite macro challenges")
SC asks Centre to clarify stand on interest waiver during moratorium
SC took note of Centre's alleged inaction and asked it to clarify its stand within a week on waiver of interest on interest for deferred payments of instalments for loans during the moratorium period
 "SC asks Centre to clarify stand on interest waiver during moratorium")
No funds available: Depositors at PMC Bank survive on loans, charity
The Reserve Bank of India took control of PMC last September after it was accused of fraud and concealing non-performing loans
 "No funds available: Depositors at PMC Bank survive on loans, charity")
RBI steps into bond market with Operation Twist to cool down yields
Under the mechanism, the apex bank buys long-term bonds and sells short-term bonds. This cools down long-term yields, raises short-term yields, but keeps liquidity neutral
 "RBI steps into bond market with Operation Twist to cool down yields")
GST Council-like authorities for land, labour, power must for reforms: RBI
"In fact, Goods and Services Tax (GST) Council type of apex authorities can be set up in respect of land, labour and power to drive structural reforms," RBI said in its 2019-20 annual report
 "GST Council-like authorities for land, labour, power must for reforms: RBI")
