• Brazilian President tested for COVID-19 07 Jul 2020 02:26 The right-wing populist has often defied local guidelines to wear a mask in public, even after a judge ordered him to do so in late June. Over the weekend, Bolsonaro attended multiple events and was in close contact with the US ambassador to Brazil during …
  • Yes Bank may sell a part of wholesale loan book to SBI 07 Jul 2020 01:56 Troubled private sector lender Yes Bank Ltd may sell a big chunk of its wholesale loan book to its lead investor, State Bank of India (SBI) to shore up liquidity, three people aware of the talks between the two lenders said. Yes Bank has already raised ₹3, …
  • The insecure worker 06 Jul 2020 22:56 Written by Amit Bhaduri | Published: July 7, 2020 3:24:10 am Economic performance in India could be enhanced so much by providing productive employment in strengthening local healthcare, education and housing and giving a fillip to farmers with small …
  • M K Saggar to take over as ED in charge of RBI's monetary policy dept 06 Jul 2020 18:11 M K Saggar will take over as the executive director (ED) in charge of Reserve Bank of India's (RBI) monetary policy department, after the retirement of Janak Raj, the central bank said in a statement. This will also mean that Saggar will be included …
  • Early green shoots of economic revival visible in May, June: Finance ministry report 06 Jul 2020 14:58 (Representative image) NEW DELHI: The finance ministry in its macroeconomic report June 2020 has stated that readings of high frequency indicators in India have cited emergence of green-shoots in the economy for the month of May and June. The report comes …
  • Bank fraud: ED slaps biggest ever FEMA notice of Rs 7,220 crore on Kolkata firm 06 Jul 2020 14:07 The Enforcement Directorate (ED) has slapped its biggest ever FEMA show cause notice of Rs 7,220 crore on a Kolkata-based jewellery house for allegedly indulging in illegal foreign exchange abroad, official sources said on Monday. This is linked to a bank …
  • Wall Street rises as investors look to economic data 06 Jul 2020 14:01 Joe Mcdonald, Ap Business Writer Updated 9:49 am EDT, Monday, July 6, 2020 A woman wearing a face mask stands in front of a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Monday, July 6, 2020. Asian stock markets …
  • Outstanding bank loans shrink in two weeks of June as demand slump continues 06 Jul 2020 13:05 Signalling the continuation of risk-aversion by banks along with a lack in credit demand, outstanding bank loans have shrunk between 5 June and 19 June, showed data from the Reserve Bank of India. While total non-food credit shrunk by ₹1,927 crore in 14 …
  • Global stocks rise as investors look to economic data 06 Jul 2020 12:11 By JOE McDONALD AP Business Writer July 6, 2020, 11:59 AM 3 min read Share to FacebookShare to TwitterEmail this article BEIJING -- Global stock markets rose Monday as investors shrugged off worries about rising coronavirus infections in the United States …
  • Rupee rises 14 paise to 74.52 against U.S. dollar in early trade 06 Jul 2020 11:28 The rupee appreciated 14 paise to 74.52 against the U.S. dollar in early trade on July 6 tracking weakness in the greenback and gains in the domestic equity market. Forex traders said positive equities, steady crude oil prices, foreign fund inflows and …
  • Asia Stocks Rise on Monday 06 Jul 2020 10:48 The Shanghai Composite Index rose 4.8% to 3,302.59 and the Nikkei 225 in Tokyo gained 1.8% to 22,716.17. The Hang Seng in Hong Kong added 3.5% to 26,245.10. The Kospi in Seoul rose 1.6% to 2,186.45 while Sydney's S&P-ASX 200 lost 0.3% to 6,040.40. …
  • Global stocks rise as investors look ahead to week's data 06 Jul 2020 09:55 Joe Mcdonald, Ap Business Writer Updated 2:44 am PDT, Monday, July 6, 2020 A woman wearing a face mask stands in front of a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Monday, July 6, 2020. Asian stock markets …
  • Asia stocks rise as investors shrug off virus worries 06 Jul 2020 08:53 BEIJING — Asian stock markets rose Monday as investors shrugged off rising coronavirus cases in the United States and some other countries. Benchmarks in Shanghai, Tokyo, Hong Kong and Southeast Asia advanced. Markets rose last week after unexpectedly …
  • Sovereign Gold Bond Scheme 06 Jul 2020 08:43 (Representative image) NEW DELHI: The fourth series or tranche of government-run sovereign gold bonds scheme (2020-21) opened for subscription on Monday. The scheme will remain open till July 10 with a settlement date of July 14, as per a notification …
  • Two least-tracked banks quietly top the charts, but analysts wary 06 Jul 2020 06:34 Mumbai: While the banking pack has been one of the worst impacted sector on a year-to-date basis, two barely-tracked stocks have turned out to be the winners in the race, as they logged double-digit gains for the year to date. But analysts are wary of …
  • Rupee retains positive bias 06 Jul 2020 06:19 The rupee (INR) closed last week with a gain of about 1.3 per cent against the dollar (USD). It ended the week at 74.64 versus the previous close of 75.64, thus closing above the important level of 75. The price action in the daily chart is hinting at a …
  • Rupee rises 14 paise to 74.52 against US dollar in early trade 06 Jul 2020 05:56 By PTI MUMBAI: The rupee appreciated 14 paise to 74.52 against the US dollar in early trade on Monday tracking weakness in the greenback and gains in the domestic equity market. Forex traders said positive equities, steady crude oil prices, foreign fund …
  • Ability of firms to service loans deteriorates in March quarter 06 Jul 2020 02:24 The interest coverage ratio (ICR) of 311 companies in the BSE 500 index fell to 2.73 in the March quarter, the lowest in at least 24 quarters, from 3.89 in the December quarter and 4.48 a year ago. The ratio is derived by dividing a company’s Ebitda ( …
  • Banks are grabbing all the Indian bonds foreigners dump 06 Jul 2020 01:33 Domestic investors, led by lenders, are piling into Indian bonds on optimism the central bank stands ready to soak up a record debt supply. That’s pitting them against foreigners who continue to sell the nation’s debt. Banks raised their holdings of …
  • Fadnavis slams CM Uddhav for extending lockdown 05 Jul 2020 23:13 Nagpur: Devendra Fadnavis, leader of opposition in the state assembly, slammed chief minister Uddhav Thackeray for extending the lockdown up to July 31. According to him extending lockdown is not the solution to combat the Covid-19 menace. While talking to …
  • BillDesk plans to sell-off business for $2.5 billion 05 Jul 2020 11:55 This time round, all the BillDesk promoters are trying to sell-off the entire business, in the wake of a rapidly growing competition in the digital payment services space and a thriving e-commerce industry in the country. Two persons with direct knowledge …
  • DHFL defaults on Rs 50-cr NCD repayment, blames ‘moratorium restrictions’ 05 Jul 2020 11:55 Mumbai, July 5 (IANS) Bankrupt non-banking financial company (NBFC) DHFL has defaulted on the repayment of Rs 50 crore on secured non-convertible debentures (NCD) and has attributed its failure to repay the principal payment to the moratorium restrictions …
  • Policy measures should help revive economy, says expert 05 Jul 2020 10:19 Express News Service BENGALURU:  In the face of gloomy prognosis of the Indian economy by the International Monetary Fund (IMF), the quarterly report by the National Council of Applied Economic Research (NCAER) has forecast a GDP growth of 1.3 per cent. …
  • CARE downgrades bank borrowings, NCDs of PNB Housing 05 Jul 2020 09:49 Mumbai, July 5 (IANS) CARE Ratings has downgraded the credit rating of PNB Housing Finance’s bank borrowings, non-convertible debentures, and fixed deposits to ‘CARE AA’ from ‘CARE AA+’. The rating agency has also revised its outlook to stable from …
  • Finmin may review capital requirement of PSU banks after second quarter 05 Jul 2020 09:48 The finance ministry may assess the capital requirement of public sector banks after the September quarter as there would be greater clarity about a spike in bad loans by that time, sources said. There is widespread fear that non-performing assets (NPAs) …
  • DHFL defaults on NCD repayments of Rs 50 cr; says can't pay due to moratorium restrictions 05 Jul 2020 09:25 NEW DELHI: DHFL has defaulted on payment of Rs 50 crore on bonds, saying the company is not in a position to make payments to the lenders as it is under moratorium since last November. The payment has not been made by the company to the respective …
  • Sovereign Gold Bond Scheme 2020-21 (Series IV) – Issue Price 05 Jul 2020 09:08 In terms of Government of India Notification No. F.No.4(4)-B/(W&M)/2020 dated April 13, 2020, Sovereign Gold Bonds 2020-21 (Series IV) will be opened for the period July 6-10, 2020 with Settlement date July 14, 2020. The issue price of the Bond …
  • Shapoorji Pallonji among 4 finalists for 535-acre theme park, UK's largest 05 Jul 2020 08:56 One of India's top conglomerates, the Shapoorji Pallonji group, is in the final lap to bag the construction mandate of UK’s largest amusement park, persons in the know have told Business Standard. Pegged at $1.8 billion in construction deal size, The …
  • Edelweiss reports net loss of 05 Jul 2020 06:19 MUMBAI : Edelweiss Financial Services Ltd on Saturday reported a consolidated net loss of ₹2,281.5 crore in the three months to March 2020, owing to a jump in impairments recorded in the quarter. The company’s total impairments stood ₹2,549 crore in Q4 …
  • RERA to approach RBI for one-time debt recast to overcome liquidity crisis 04 Jul 2020 15:28 Real estate regulators will write within a week to the RBI, seeking one-time debt restructuring for the industry to help developers overcome the liquidity issues, Uttar Pradesh RERA Chairman Rajive Kumar said on Saturday. Industry bodies CREDAI and Naredco …
  • Rupee’s rally leaves traders gauging RBI’s forex strategy 04 Jul 2020 09:17 By Subhadip Sircar India’s rupee hit a three-month high after breaking out of a tight trading band, boosted by strong inflows and expectations that the central bank may be slowing its purchases of dollars. The rupee rose as much as 0.6% to 74.5562 per …
  • Mamata Banerjee says won’t spare corrupt leaders in TMC 04 Jul 2020 07:29 No party leader is indispensable, says TMC chief Mamata Banerjee Chief Minister Mamata Banerjee on Friday warned the leaders of her party Trinamool Congress (TMC) that corruption allegations against no one in the party would be tolerated. The TMC chief’s …
  • Government borrowings in comfort zone as T-bill yields drop 04 Jul 2020 04:26 Mumbai: Concerns about government finances are easing with the short-term treasury-bill yields declining to levels below the reverse repo, yielding negative real rates for the first time since the global financial crisis a decade ago. Treasury bills are …
  • The Ground Water Potential of the North African Region and the Nile Issue 03 Jul 2020 22:00 By Miniye Betru published on April 7, 2014 dedicated to my colleague, Asmamaw Temesgen Background: In the early 1990s, I worked as an exploration geologist at the Geological Surveys of Ethiopia in an endeavor to achieve further studies in Earth Sciences. …
  • Axis Bank seeks shareholders nod to raise 03 Jul 2020 16:08 Under the proposal, Axis Bank will raise ₹35,000 crore through debt securities in Indian or foreign currency, while ₹15,000 crore to be raised through issuance of equity shares or securities convertible into equity shares, Axis Bank said in a regulatory …
  • No relief for Mudra Shishu loan borrowers during moratorium 03 Jul 2020 14:21 KOLKATA: Mudra Shishu loan borrowers opting for moratorium on their existing debts would not get the 2% interest subvention under the Centre’s Covid-19 relief package before the expiry of the repayment holiday, the finance ministry said. The subvention …
  • Negative interest rates to boost appeal of dividend stocks, gold 03 Jul 2020 14:13 By Nupur Acharya Investors in India may turn to dividend-yielding stocks or physical assets such as gold and property as excess liquidity drives real interest rates into a negative zone for the first time since 2013, according to Jefferies India Pvt. “Low …
  • Explainer: How India's forex reserve of over $500 billion provides cushion against Covid-19 triggered slowdown 03 Jul 2020 14:12 Jul 03, 2020, 07:04PM ISTSource: TOI.inIndia has accumulated the world’s fifth-largest foreign exchange reserves at more than $500 billion, making it a bright spot in an otherwise dismal economy. The reserves were bolstered by a rare current-account …
  • Board Exams: CICSE announces assessment scheme 03 Jul 2020 12:34 !1 New UpdateClick here for latest updates Odisha Govemment has decided to fix up maximum price for RT-PCR COVID-19 test by ICMR approved private laboratories at Rs 2200 (inclusive of GST & all other incidental charges) for private individuals desirous …
  • An RBI plan is making foreign lenders uneasy 03 Jul 2020 12:34 MUMBAI: Foreign banks in India are coming together to voice their concerns about the Reserve Bank of India’s recommendations on a new governance framework for commercial banks.The foreign lenders, which do business through a network of branches, are …
  • States' total market borrowing hits Rs 1.7 lakh crore in Q1FY21: Icra 03 Jul 2020 12:32 Total market borrowing by the states hit Rs 1.7 lakh crore in the first quarter of this fiscal, compared to Rs 80,000 crore for the same period of the previous year, according to a report by ICRA on Friday. The increased amount was a substantial 31.5% …
  • Indian banks' loans rose 6.2% y/y in two weeks to June 19 - central bank 03 Jul 2020 12:02 BENGALURU, July 3 (Reuters) - Indian banks’ loans rose 6.2% in the two weeks to June 19 from a year earlier, while deposits rose 11%, the Reserve Bank of India’s weekly statistical supplement showed on Friday. Outstanding loans rose 16.79 billion rupees ($ …
  • Lakshmi Vilas Bank gains 5% on report Clermont Group eyes stake purchase 03 Jul 2020 08:18 Shares of Lakshmi Vilas Bank surged 5 per cent to Rs 22.15 on the BSE on Friday after Business Standard reported that Singapore-based private equity player Clermont Group is in talks to pick up a sizeable stake in the bank. This round of capital infusion, …
  • India based Online Lenders U GRO Capital, SOLV, Instamojo, Sanjeevani Platform Continue to Issue Loans to SMEs during COVID-19 03 Jul 2020 03:46 July 2, 2020 @ 11:32 pm By Omar Faridi The Indian government has been asking local banks to work cooperatively with SMEs by providing much-needed liquidity during the COVID-19 crisis. Several local digital lenders and non-bank finance companies (NBFCs) …
  • India may ease regulatory pricing cap for ECBs 03 Jul 2020 02:52 MUMBAI: India is weighing the option of easing a regulatory price cap on overseas borrowing to ensure wider financing access for cash-starved companies even as risk-averse local lenders, despite abundant system liquidity, restrict big-ticket advances to …
  • World’s fifth-largest reserves buffer gives India some comfort 03 Jul 2020 02:28 India has accumulated the world’s fifth-largest foreign exchange reserves at more than $500 billion, making it a bright spot in an otherwise dismal economy. The reserves were bolstered by a rare current-account surplus in the first quarter, a return of …
  • Deepak Parekh backs RBI moratorium, calls for real estate loan restructuring 02 Jul 2020 18:06 Housing Development Finance Corp Ltd (HDFC) chairman Deepak Parekh has called for a one time restructuring of real estate loans to help developers find last mile funding for their projects. In a letter to shareholders in the mortgage financier's annual …
  • 10 Sec Loan: Top Bank Seeks to Accelerate Car Sales Even as COVID-19 Puts Brake on Indian Economy 02 Jul 2020 14:31 India 14:09 GMT 02.07.2020Get short URL New Delhi (Sputnik): According to car industry representatives, the sector witnessed a revival in month-on-month sales in June due to pent-up demand caused by the COVID-19-induced lockdown. As the economy opens up, …
  • Bank resolution framework changes credit positive: Moody’s 02 Jul 2020 10:44 New Delhi, July 2 (IANS) Amendments to India’s bank resolution framework are credit positive, according to Moody’s Investors Service. The amended resolution process was credit positive as it helped preserve depositor confidence and avoid deposit flight …
  • Rating firms seek to withdraw nearly half of India debt ratings 02 Jul 2020 10:20 By Rahul Satija Rating firms in India are seeking to withdraw credit scores where issuers don’t provide enough information to support their assessments in a move that could potentially affect nearly half the country’s ratings. The current situation means …
  • India needs Rs 50-60 lakh crore foreign investments to bolster coronavirus-hit economy: Gadkari 02 Jul 2020 09:51 By PTI NEW DELHI: India needs foreign direct investments worth Rs 50 to 60 lakh crore and the money can be tapped mainly through infrastructure projects as well as MSME sector to accelerate the wheels of coronavirus-hit economy, according to Union minister …
  • Punjab resident bought property illegally in Ontario, says India’s Enforcement Directorate 02 Jul 2020 06:54 New Delhi (IANS): The Enforcement Directorate (ED) on Wednesday said that it has attached the properties to the tune of Rs 20 million of Sukhwinder Singh Lally of Punjab’s Jalandhar in a FEMA (Foreign Exchange Management Act) case. The ED in a statement …
  • Expect catch up rally in silver in second half of 2020 02 Jul 2020 06:41 There are other metals which relative to gold now look undervalued and can be an attractive opportunity, says the director of research at BullionVault. Is it the right time to move away from equities and park some funds into commodities, especially the …
  • India: Digital Asset Investment Firm B21 Launches as Country Opens Up to Crypto 02 Jul 2020 05:16 July 1, 2020 @ 10:11 pm By JD Alois Digital asset investing company B21 has launched its B21 Invest app in India. According to a release, B21 Invest simplifies the purchase and management of cryptocurrencies including Bitcoin, Ethereum, and EOS. B21 Invest …
  • RBI announces scheme for improving liquidity position of NBFC, HFCs 01 Jul 2020 22:49 Mumbai (Maharashtra) [India], July 1 (ANI): The Reserve Bank of India (RBI) on Wednesday said the Centre has approved a scheme to improve the liquidity position of non-banking finance companies (NBFCs) and Housing Finance Companies (HFCs) through a special …
  • B21 Launches Cryptocurrency App In India 01 Jul 2020 18:36 Digital asset investing company B21 Wednesday announced the launch of its B21 Invest app in India. B21 Invest allows customers to easily purchase and manage cryptocurrencies including Bitcoin, Ethereum, and EOS straight from a mobile phone. The launch of …
  • Prospective investors indicate appetite for YES Bank FPO at discount 01 Jul 2020 14:54 Set to launch its follow-on public offer (FPO) by the middle of this month, YES Bank is getting an indicative price range of Rs 12-15 a share from prospective investors, say bankers. During roadshows, investors said they were keen to invest in the FPO. …
  • Govt approves scheme to improve liquidity position of NBFCs, says RBI 01 Jul 2020 12:51 The government has approved a scheme under which the eligible non-bank lenders will be provided short-term liquidity through a special purpose vehicle (SPV) set up by the SBICAP securities, a subsidiary of the State Bank of India, the RBI said on Wednesday …
  • A Peek Into The Markets: US Stock Futures Down Ahead Of ADP, Manufacturing Data 01 Jul 2020 10:12 Pre-open movers U.S. stock futures traded lower in early pre-market trade, after posting a rise in the previous session. The Challenger job-cut report for June will be released at 7:30 a.m. ET, while the ADP national employment report for June is scheduled …
  • Loans to some small businesses shrink 7% in two months of lockdown 01 Jul 2020 09:35 Mumbai: At a time when the government is pushing credit under its ₹3-trillion guaranteed loan programme, outstanding loans to micro, small and medium industries shrank by ₹34,627 crore in two months of the complete lockdown. This is according to the latest …
  • PLA has deployed over 20,000 troops along LAC, India wary of third division in Xinjiang 01 Jul 2020 09:04 NEW DELHI: The People's Liberation Army (PLA) has deployed more than 20,000 of its troops along the Line of Actual Control (LAC) near the Eastern Ladakh sector even as India is closely watching the activities of another 10,000-12,000 Chinese troops …
  • World Bank grants India $750 mn emergency funding to help small businesses 01 Jul 2020 08:26 The World Bank will give $ 750 million as loan to India for strengthening small businesses that form the backbone of the country’s economy and were devastated in the coronavirus pandemic. The emergency lending will ensure liquidity for some 1.5 million …
  • Implementing app bans: The role of ISPs and app stores 01 Jul 2020 05:29 NEW DELHI: India banned 59 apps originating from China, including Helo, TikTok, WeChat and Sweet Selfie. Many of these popular apps continue to be used by those who have downloaded and are available for fresh downloads as well — barring a few including …
  • India's factory activity contracts for 3rd straight month in June 01 Jul 2020 05:29 BENGALURU: India's manufacturing activity contracted for a third straight month in June, albeit at a much shallower pace, as demand and output continued to suffer from three months of lockdowns to quell the spread of the coronavirus, a private survey …
  • Commentary: China and India – the region’s twin growth engines – are stuttering 30 Jun 2020 22:56 HYDERABAD: China is no longer the economic spring chicken it once was. When the collapse of Lehman Brothers in September 2008 plunged the global economy into a near death experience, it was the aggressive fiscal stimulus provided by China that prevented …
  • India needs to increase fiscal stimulus to revive economy: Pronab Sen 30 Jun 2020 19:20 Former chief statistician Pronab Sen on Tuesday said the government should increase fiscal stimulus to revive the Covid-19 hit economy. Sen said that as the lockdown has been lifted, the country should move into the revival phase. "We need to increase …
  • India records quarterly current account surplus for first time in 13 years 30 Jun 2020 18:21 (Representative image) MUMBAI: India's current account turned positive in the last quarter of the 2019/20 fiscal year as a result of a lower trade deficit and a sharp rise in net invisible receipts, the Reserve Bank of India said on Tuesday, the …
  • Housing prices index up 3.9% in Q4 of 2019-20 on an annual basis: RBI 30 Jun 2020 16:48 NEW DELHI: All-India housing prices index rose by 3.9 per cent during the fourth quarter of 2019-20 compared to the year ago period, but contracted 0.2 per cent compared to the previous quarter, the RBI said on Tuesday. The Reserve Bank of India (RBI) …
  • India Mulls Debt Relief During Pandemic as Sri Lanka Turns to China for Emergency Loans 30 Jun 2020 16:29 India 15:28 GMT 30.06.2020Get short URL https://cdn1.img.sputniknews.com/img/107975/92/1079759283_0:60:2048:1212_1200x675_80_0_0_c446e8487564b21ebebdbefaa7493c33.jpg Sputnik International https://cdn2.img.sputniknews.com…
  • India records current account surplus of 0.1% of GDP, at $600 mn in Q4 30 Jun 2020 16:18 India’s current account turned surplus, albeit marginal, in the fourth quarter of the last fiscal as trade deficit narrowed, Reserve Bank of India (RBI) said on Tuesday. The current account balance (CAB) turned surplus of $0.6 billion, or 0.1 per cent of …
  • Mumbai home prices defy all-India fall, post highest sequential rise in Q4 30 Jun 2020 15:59 Mumbai’s real estate prices seem to be immune to the economic slowdown. When most Indian cities showed a decline in prices as at the end of March, Mumbai’s real estate prices showed the highest sequential rise, according to Housing Price Index (HPI) of the …
  • India registers surplus $0.6 billion in current account in Q4 30 Jun 2020 15:27 India’s current account balance (CAB) recorded a marginal surplus of $0.6 billion in the fourth quarter (Q4) ended March 31, 2020 on the back of higher remittances and foreign direct investment, and external commercial borrowing inflows. The surplus comes …
  • Wary of future stress, lenders set aside more money than RBI prescribes 30 Jun 2020 13:48 Even before the Reserve Bank of India (RBI) directed lenders to conduct stress tests, banks have been conducting internal tests to figure out the extent of the damage. While some have put a number to the expected stress, others have declined to disclose it …
  • India records marginal surplus on current account in Jan-Mar on lower trade deficit 30 Jun 2020 13:25 India recorded a current account surplus of USD 0.6 billion or 0.1 per cent of GDP for the January-March quarter against a deficit of USD 4.6 billion or 0.7 per cent of GDP in the year-ago period, the Reserve Bank said on Tuesday. For the fiscal year 2019- …
  • Top Headlines- India bans 59 Chinese apps, Unlock 2.0, PM's address, & more 30 Jun 2020 09:35 The move of India banning 59 Chinese apps did not come as a surprise as it comes in the backdrop of stand-off along the Line of Actual control in Ladakh with Chinese troops. In Unlock 2.0, international air travel and metro rail services will also continue …
  • Can the Fed propel the wheels of global finance? 30 Jun 2020 03:43 In its recently released update to the Global Financial Stability Report for April 2020, the IMF has expressed concern about the contrasting movements in real economy and financial indicators. At issue here is the rather quick recovery in equity and bond …
  • Ease financing of self-redevpt projects in city: Activists to RBI 30 Jun 2020 02:29 Mumbai: With Reserve Bank of India (RBI) seeking to amend laws with regard to housing finance companies, activists are demanding that the central bank enable easing financing of self-redevelopment projects. “Mumbai has a large number of old and dilapidated …
  • Dhanlaxmi Bank chairman resigns 8 months before end of tenure 29 Jun 2020 13:48 Kerala-based private sector lender Dhanlaxmi Bank said on Monday that Sanjeev Krishnan, part-time chairman and independent director has resigned from his role, with eight months of his term still remaining. The bank said in a regulatory filing on Monday …
  • RBI to do buy-sell OMO of Rs 10,000 cr keeping in mind liquidity in banks 29 Jun 2020 12:50 The Reserve Bank of India (RBI) will be conducting a buy and sell open market operations (OMO) in bonds worth Rs 10,000 crore on Thursday. While the central bank will be selling bonds maturing between 15 October 2020 and 29 April 2021, it will be buying …
  • RBI announces special OMO of govt securities 29 Jun 2020 10:51 The Reserve Bank of India (RBI) on Monday announced special open market operations (OMO) of government securities worth Rs 10,000 crore. "On a review of current and evolving liquidity and market conditions, the Reserve Bank has decided to conduct …
  • Credit cards, Gold ETFs: How India spent and saved during Covid-19 lockdown 29 Jun 2020 10:33 The Covid-19 pandemic triggered a two-month nation-wide shutdown towards the end of March 2020 and brought all economic activity to a near standstill. Over these two months, while companies went back to the drawing board to redefine and work under the …
  • Bank stocks still not fully pricing in Covid-19 lockdown impact: Analysts 29 Jun 2020 08:11 Despite improving loan recoveries in June 2020, analysts believe the situation for the Indian banking sector remains fluid as the economic impact of Covid-19 is far from over. While the moratorium given by the Reserve Bank of India (RBI) will optically …
  • Agencies keen to withdraw ratings of over 10,000 companies not sharing info 29 Jun 2020 02:31 Mumbai: Credit rating agencies have approached financial market regulators for withdrawing ratings to more than 10,000 companies that are refusing to share information. Rating agencies will need a ‘no objection certificate’, or NOC from lending banks …
  • Stocks in the news: Axis Bank, ITC, Bajaj Finance, IDBI Bank, HDFC AMC, Piramal Enterprises and Sobha 29 Jun 2020 02:31 Nifty futures on the Singapore Exchange traded 73.5 points, or 0.71 per cent lower at 10,266.50, in signs that Dalal Street was headed for a negative start on Monday. Here are a few stocks, which may buzz the most in today's trade: MRF, Bharat …
  • Getting out of the ‘guns, germs and steel’ crisis 28 Jun 2020 19:44 India faces a “guns, germs and steel” crisis, to borrow from the title of Jared Diamond’s classic book on the evolution of societies and nations, Guns, Germs, and Steel: The Fates of Human Societies. There are Chinese “guns” on the borders. There are …
  • Weak assets of Indian banks may shoot up to 14% by March 2021: S&P 27 Jun 2020 19:59 Rating agency Standard and Poor’s (S&P) expects the weak assets of Indian banks to shoot up to 13-14 per cent of gross loans by March 2021 as heightened economic risks are set to affect their asset quality and financial performance. Its forecast is …
  • News Live: Nepal-India border issue figured? 27 Jun 2020 15:50 !1 New UpdateClick here for latest updates Mumbai recorded 1,460 cases and 41 deaths today Tally rises to 73,747 and death toll to 4,282 Early onset of monsoon triggers rainfall in most parts of India as locust attack fears increase The early onset of …
  • Is Google Pay getting banned in India? Here’s what the truth is 27 Jun 2020 06:13 Image Source : VANSHIKA MALHOTRA Google Pay on iPhone Google Pay banned in India: A new trend is making rounds on social media suggesting that the popular payments platform Google Pay has been banned in India by the Reserve Bank of India (RBI). However, …
  • UCO Bank back on profit path in Q4 27 Jun 2020 01:20 Kolkata: Public sector lender UCO Bank returned on the profit path in the fourth quarter of the last fiscal after suffering losses for past few quarters. The city-based bank has reported a net profit of Rs 16.7 crore for the quarter ending on March 31 …
  • RBI board reviews state of economy 26 Jun 2020 19:08 The board of the Reserve Bank of India (RBI), which met for the first time on Friday since the nationwide lockdown, discussed the current economic situation and the challenges posed by COVID-19. The meeting was held via video-conference. “The board …
  • Govt savings bonds to offer higher rate of interest than small savings 26 Jun 2020 18:38 In a move that may increase retail participation in the government bond market manifold, the government on Friday evening said it is going to issue a floating rate taxable savings bond for an initial coupon of 7.15 per cent, to be reset half yearly from …
  • CBI registers case against Moser Baer and directors for fraud of 26 Jun 2020 16:08 The Central Bureau of Investigation (CBI) on Friday registered a criminal offence case against the Delhi based Moser Baer Solar Ltd and its directors including Dipak Puri and Ratul Puri, said CBI spokesperson in a statement. This comes after the …
  • RBI board meets digitally to take stock of Covid-19 impact on economy 26 Jun 2020 15:49 The Reserve Bank of India (RBI) central board met on Friday via video conference to discuss various issues, including impact of the measures undertaken by the central bank after Covid-19 outbreak in India. The 583rd meeting of the central board deliberated …
  • RBI central board takes stock of economic situation, Covid-19 challenges 26 Jun 2020 10:58 Mumbai: The Central Board of the Reserve Bank of India (RBI) deliberated on the current economic situation and evolving challenges posed by the pandemic at its meeting on Friday. The meeting was chaired by the central bank governor Shaktikanta Das. At the …
  • Asset quality of India's housing lenders likely to worsen - ICRA 26 Jun 2020 10:07 MUMBAI, June 26 (Reuters) - Indian housing finance companies (HFCs) are likely to face worsening of asset quality this year, with about 30% of their portfolios falling within the regulator-approved moratorium as of end-May, rating agency ICRA said on …
  • India’s Department of Economic Affairs, the Reserve Bank (RBI), and Securities and Exchange Board of India Continue to Support Country’s Fintech Sector 26 Jun 2020 08:49 June 26, 2020 @ 1:33 am By Omar Faridi K. Rajaraman, Additional Secretary, Investment and IER (International Economic Relations), in the Department of Economic Affairs, India, says that the country’s private sector should work cooperatively with the …
  • Stocks in the news: ITC, RIL, Vedanta, Ruchi Soya, Ashok Leyland, Coal India and 26 Jun 2020 02:15 Nifty futures on the Singapore Exchange traded 57.5 points, or 0.56 per cent higher at 10,293.50, in signs that Dalal Street was headed for a positive start on Friday. Here are a few stocks which may buzz the most in today's trade: Reliance Industries: …
  • Mumbai- Beware of fraudsters, warns RBI - Mumbai News s of India 24 Jun 2020 20:29 Reserve Bank Of India MUMBAI: Stating there have been several instances of customers falling prey to fraudsters, the Reserve Bank of India warned citizens to be cautious and adopt safety measures in digital transactions. In a general advisory, RBI said …
  • Dispute over Rs7 crore pact puts Bank of Baroda at risk 24 Jun 2020 08:13 A dispute between two big state-run companies over a Rs69.7 million ($920,000) guarantee has put one of India’s largest lenders under regulatory scrutiny and reignited questions about enforcement of contracts in Asia’s No. 3 economy. The Supreme Court on …
  • Telangana wants Haj Committee of India to reserve seats of 2021 24 Jun 2020 08:10 Hyderabad: The State Haj Committee has suggested that the Haj Committee of India reserve the seats for Haj 2021 to those who were provisionally selected for the pilgrimage this year and lost the opportunity to this year due too the pandemic. Saudi …