Page 45 - Rbi

Federal Bank gets RBI nod to re-appoint Shyam Srinivasan as MD for 3 yrs

Private sector Federal Bank on Friday said it has received approval from the RBI to re-appoint Shyam Srinivasan as its MD and CEO for three years. Srinivasan took charge as MD and CEO of the lender on September 23, 2010. "We wish to inform you that the approval from Reserve Bank of India has been received on July 9, 2021 for the re-appointment of Shyam Srinivasan as the MD & CEO of the bank for a period of three years with effect from September 23, 2021 till September 22, 2024," Federal Bank said in a regulatory filing. Earlier in July 2020, the South-based lender had received RBI's nod for reappointment of Srinivasan as Managing Director and Chief Executive Officer till September 22, 2021. He had joined Federal Bank with the experience of over 20 years with leading multinational banks in India, Middle East and South East Asia. He has significant expertise in retail lending, wealth management and small and medium enterprises (SME) banking, it said. Srinivasan is an alumnus of the

Send bank staff in sensitive operations on leave without intimation: RBI

As a prudent risk management measure, banks should have a 'mandatory leave' policy with an element of surprise, apex bank says. The revised norms repeal the circular of April 23, 2015

RBI asks banks to shift from LIBOR to alternative reference rates by Dec 31

RBI on Thursday asked banks and financial institutions to use any widely accepted alternative reference rate instead of LIBOR as the reference rate for entering into new financial contracts

India's inflation likely edged up to seven-month high in June: Reuters poll

India's retail inflation probably accelerated to a seven-month high in June on rising food and fuel prices, staying above RBI's comfort zone for a second straight month, a Reuters poll showed

New Co-op Ministry might boost growth of multi-state co-op societies

This would bring much-needed transparency and fairness in the functioning of the cooperatives, which so far have been riddled with charges of political interference and mismanagement, say experts

Price shock has ICICI Prudential Life's exec expecting hawkish RBI in Aug

India's retail inflation crossed outside the central bank's 2%-6% comfort zone recently, pushing yields higher on fears the Reserve Bank of India's policy tone will change as early as August in the di

Fresh tussle between RBI, bond market expected ahead of 10-yr paper launch

The 10-year paper is no longer the most traded one - which is unusual

Sovereign bonds slide as RBI's choice of purchase papers disappoint

Underwriters had to rescue nearly the entire Rs 11,000 crore ($1.5 billion) of the 5-year bond at last week's sale.

Razorpay, Mastercard launch MandateHQ for recurring payments

To help banks comply with RBI directive and provide convenience to banks' customers, Razorpay and Mastercard have partnered to launch MandateHQ, new recurring payment interface, after RBI's new rules

RBI to conduct Rs 20,000 crore open market bond purchase on July 8

The Reserve Bank of India (RBI) will conduct open market purchase of government bonds worth Rs 20,000 crore under the G-sec Acquisition Programme (G-SAP 2.0) on July 8

First purchase of G-secs worth Rs 20K cr under G-SAP 2.0 on July 8: RBI

The Reserve Bank on Monday said the first purchase of government securities for an aggregate amount of Rs 20,000 crore under the G-sec Acquisition Programme (G-SAP 2.0) will be conducted on July 8. On June 4, RBI Governor Shaktikanta Das had announced that the central bank will conduct open market purchase of government securities of Rs 1.2 lakh crore under the G-SAP 2.0 in the second quarter of 2021-22 to support the market. On Thursday (July 8), the RBI will purchase five government securities of different maturities through a multi-security auction using the multiple price method. The RBI said it reserves the right to decide on the quantum of purchase of individual securities, and purchase marginally higher/lower than the aggregate amount due to rounding-off. The result of the auctions will be announced on the same day, it added. The next purchase under G-SAP 2.0 will be conducted on July 22 for Rs 20,000 crore. The RBI had conducted open market purchase of government securiti

RBI should not print money to finance fiscal deficit: Pinaki Chakraborty

High inflation is certainly a concern and there is a need to stabilise inflation to a level which is manageable, he says

RBI proposes framework for acceptable bids at auctions to underwriters

RBI tries another way to tame bond yields as they have been rising in India on worries over inflation

Estimation error?: Government estimates go awry when growth trends down

Historical analysis shows that the government tends to underestimate the growth in agriculture every year; as growth has slipped in the last few years, it has fallen prey to overestimation errors

'Levels often deceptive': 5 reasons why India needs to up record forex pile

The reserve touched a record $608 billion last month due to RBI soaking up dollars.

Top headlines: Vedanta plans $5 bn capex, Wistron exceeds PLI investment

Business Standard brings you the top headlines on Friday

Bad debts to rise due to Covid, but banks adequately capitalised: RBI FSR

The ferocity of the second wave of Covid-19 has dented economic activity, but monetary, regulatory and fiscal policy measures have helped stabilise markets, and maintain financial stability, says FSR

Centrum seeks 20 years to repay DICGC for settling depositors' claims

Centrum's role in the small finance bank will be mainly on the asset side and will focus on lending to small and medium business. Bharat Pe will focus on the liabilities side

Top headlines: Banks' asset quality stable; normal monsoon forecast in July

Business Standard brings you top news of the evening

RBI's Financial Stability Report: A bag of surprises

Credit should go to the RBI and banks for managing the situation. The plan of giving moratorium during tough times and rolling back the same has helped to keep things under check