Business Standard

Page 44 - Rbi

Several factors still hinder monetary transmission to bank rates: RBI

Although transmission of deposit and lending rates has significantly improved in recent times, several factors continue to obstruct effective monetary transmission to these bank rates, RBI has said

Several factors still hinder monetary transmission to bank rates: RBI
Updated On : 18 Jul 2021 | 6:10 PM IST

IBA to soon move application to RBI for setting up Rs 6,000-cr bad bank

Having secured licence from the Registrar of Companies, the Indian Banks' Association (IBA) will soon move an application to the Reserve Bank of India (RBI) to set up a Rs 6,000-crore National Asset Reconstruction Company Ltd (NARCL) or bad bank, according to sources. With registration of the company, the process for putting an initial capital of Rs 100 crore is on as per the guidelines, the sources said adding that the next step will be audit and then move application to the RBI seeking licence for the asset reconstruction company. The RBI in 2017 raised capital requirement to Rs 100 crore from the earlier level of Rs 2 crore keeping in mind higher amount of cash required to buy bad loans. Legal consultant AZB & Partners has been engaged for seeking various regulatory approvals and fulfilling other legal formalities. The initial capital would come from eight banks who have committed, and the NARCL would expand the capital base to Rs 6,000 crore subsequently after the RBI's nod, ..

IBA to soon move application to RBI for setting up Rs 6,000-cr bad bank
Updated On : 18 Jul 2021 | 12:51 PM IST

Ball in RBI's court: HDFC Bank on ban on issue of new credit cards

HDFC Bank was asked to pay a fine of Rs 10 crore earlier this year by the RBI

Ball in RBI's court: HDFC Bank on ban on issue of new credit cards
Updated On : 17 Jul 2021 | 9:21 PM IST

Linking loan rates to external benchmark boosts RBI policy transmission

In response to each policy rate cut by the central bank, the bond market passed on the cuts almost immediately

Linking loan rates to external benchmark boosts RBI policy transmission
Updated On : 16 Jul 2021 | 11:18 PM IST

Sales of listed private manufacturing companies jump 31% in Jan-Mar quarter

Sales of listed private manufacturing companies surged 31 per cent year-on-year in the fourth quarter of the last fiscal on favourable base as well price effect, according to RBI data

Sales of listed private manufacturing companies jump 31% in Jan-Mar quarter
Updated On : 16 Jul 2021 | 10:10 PM IST

Top headlines: Govt may get 30% more from asset sale, Q1 GDP growth at 22%

Business Standard brings you the top headlines on Friday

Top headlines: Govt may get 30% more from asset sale, Q1 GDP growth at 22%
Updated On : 16 Jul 2021 | 7:32 AM IST

RBI remains net purchaser of US dollar in May; buys $5.84 billion

The Reserve Bank of India (RBI) remained net buyer of the US dollar in May 2021, after it net purchased USD 5.842 billion from the spot market, according to data from the central bank. In the reporting month, the RBI purchased USD 7.142 billion while sold USD 1.3 billion in the spot market, the monthly RBI bulletin for July 2021, released on Thursday, showed. In April this year, the RBI had net bought USD 4.212 billion. It had purchased USD 8.182 billion and sold USD 3.97 billion. In May last year, the RBI had net purchased USD 4.363 billion. During 2020-21, the central bank had net purchased USD 68.315 billion from the spot market. It had bought USD 162.479 billion from the spot market and sold USD 94.164 billion during the fiscal 2020-21, the data showed. In the forward dollar market, the outstanding net purchase at the end of May 2021 was USD 59.852 billion, compared with a net purchase of USD 64.944 billion in March 2021, the data showed.

RBI remains net purchaser of US dollar in May; buys $5.84 billion
Updated On : 15 Jul 2021 | 10:53 PM IST

Near-term economic prospects bright but demand may take time to return: RBI

The tapering of the second wave of Covid pandemic coupled with aggressive vaccination has brightened the near-term prospects of the Indian economy

Near-term economic prospects bright but demand may take time to return: RBI
Updated On : 15 Jul 2021 | 6:53 PM IST

Financial inclusion will continue to be a policy priority after Covid: Das

RBI Governor Shaktikanta Das on Thursday said financial inclusion will continue to be a policy priority for the central to make the post-pandemic recovery more equitable and sustainable.

Financial inclusion will continue to be a policy priority after Covid: Das
Updated On : 15 Jul 2021 | 6:00 PM IST

RBI governor warns of downsides to direct financing of govt fiscal deficit

Direct financing or monetisation of the government's fiscal deficit by the central bank has several downsides, Reserve Bank of India Governor Shaktikanta Das said

RBI governor warns of downsides to direct financing of govt fiscal deficit
Updated On : 15 Jul 2021 | 11:18 AM IST

RBL Bank enters into agreement with Visa for issuing credit cards

The bank is expecting to start issuing credit cards on the Visa payment network post the technology integration, which is expected to take 8 to 10 weeks

RBL Bank enters into agreement with Visa for issuing credit cards
Updated On : 15 Jul 2021 | 10:21 AM IST

Mastercard ban to hit Citi and RBL's customer acquisition the most

In India, there were over 900 million debit cards as on May 31, 2021, of which over 400 million were issued by Mastercard

Mastercard ban to hit Citi and RBL's customer acquisition the most
Updated On : 15 Jul 2021 | 7:14 AM IST

Top Headlines: Zomato heads for more indices; chip crisis costs millions

Business Standard brings to you top headlines on Thursday

Top Headlines: Zomato heads for more indices; chip crisis costs millions
Updated On : 15 Jul 2021 | 6:47 AM IST

RBI bars Mastercard from onboarding new customers in India from July 22

The ban is only on adding new domestic customers to its network; no impact on its existing customers

RBI bars Mastercard from onboarding new customers in India from July 22
Updated On : 15 Jul 2021 | 12:24 AM IST

RBI circular helps large lenders gain corporate banking mkt share: Report

In mid-2020, the RBI had come up with the circular that specified which bank can open a current account for a borrower, in order to check any misuse through multiple current accounts.

RBI circular helps large lenders gain corporate banking mkt share: Report
Updated On : 14 Jul 2021 | 6:41 PM IST

Retail inflation eases slightly to 6.26%, remains above RBI's comfort level

Retail inflation remained elevated due to soaring fuel prices and costlier items in the food basket.

Retail inflation eases slightly to 6.26%, remains above RBI's comfort level
Updated On : 13 Jul 2021 | 12:51 AM IST

RBI offers hassle-free trading in govt bonds for retail investors

Online portal will give access to the bond trading platform available for institutional investors; retail investors can also bid for bonds in primary auctions as large institutions do

RBI offers hassle-free trading in govt bonds for retail investors
Updated On : 13 Jul 2021 | 12:23 AM IST

Federal Bank gains 6% as RBI approves re-appointment of Shyam Srinivasan

The brokerage firm Motilal Oswal Financial Services said it sees this as a positive development as it addresses a key overhang on the management continuity

Federal Bank gains 6% as RBI approves re-appointment of Shyam Srinivasan
Updated On : 12 Jul 2021 | 1:09 PM IST

Take adequate, long-term exposure to equities to counter inflation

In the short term, take on part-time work and postpone discretionary expenses to cope with this round of price rise which may not end in a hurry

Take adequate, long-term exposure to equities to counter inflation
Updated On : 11 Jul 2021 | 9:07 PM IST

Equitas SFB gets RBI nod to apply for amalgamation of promoter into itself

As per the SFB licensing guidelines of RBI, a promoter of SFB can exit or to cease to be a promoter after the mandatory initial lock-in period of five years

Equitas SFB gets RBI nod to apply for amalgamation of promoter into itself
Updated On : 10 Jul 2021 | 5:54 PM IST