• Mega bank consolidation: Meeting April 1 deadline appears challenging 23 Feb 2020 08:54 With the deadline of April 1 fast approaching for the mega merger of ten public sector banks, there seems to be more odd in the way of meeting the target date as a series of regulatory approvals and clearances are still pending, bank officials said. Even …
  • RBI alone can not contain inflation: C Rangarajan 23 Feb 2020 08:09 NEW DELHI: Former RBI governor C Rangarajan has said the Reserve Bank alone can not contain inflation as supply side shocks are needed to be managed by the government. In a paper titled 'The New Monetary Policy Framework - What it Means', …
  • Cricket: Napier Technical Old Boys just pip Taradale in men's T20 final 23 Feb 2020 07:10 Two-time national premier men's club champions, Napier Technical Old Boys, have again claimed bragging rights in the provincial Twenty20 format. The Innovate Electrical-sponsored Texans beat You Travel Taradale by two wickets, with three balls to spare …
  • NBFCs, HFCs may get 1 year extension for restructuring loans: Report 23 Feb 2020 06:44 Financially sound non-banking finance companies (NBFCs) and housing finance companies (HFCs) may be next in line to be permitted extension of the date of commencement of commercial operations (DCCO) of project loans for commercial real estate by another …
  • RBI reviewing monetary policy framework, says Shaktikanta Das 23 Feb 2020 06:44 The Reserve Bank of India is reviewing the retail inflation targeting framework behind monetary policy decision as well as its effectiveness and also plans to hold stakeholders consultations including with the government in June, Governor Shaktikanta Das …
  • Economy needs more monetary stimulus, says Shaktikanta Das 22 Feb 2020 18:33 Reserve Bank of India (RBI) Governor Shaktikanta Das, stating he had observed certain ‘green shoots,’ also acknowledged that the economy needed a further monetary stimulus, thus indicating the central bank was open to cutting interest rates. These are the …
  • SBI to hold mega e-auction for 1,000 stressed assets to recover dues 22 Feb 2020 18:16 In a bid to recover dues, the State Bank of India (SBI) will conduct a mega electronic auction for 1,000 properties on February 26. These include houses, industrial and commercial units of defaulters. These are stressed assets and the bank has made …
  • Arun Jaitley's selected writings reveal NDA's war against corruption 22 Feb 2020 16:47 India’s battle against black money is still a work in progress. A new book comprising selected essays by former finance minister Arun Jaitley details the many decisive measures taken by the NDA govt to prevent and combat corruption The NDA’s campaign …
  • Efforts of banks under PCA framework being monitored: RBI Governor 22 Feb 2020 14:23 Reserve Bank of India Governor Shaktikanta Das has said four banks under the Prompt Corrective Action (PCA) framework are making efforts and they are being monitored. Currently, Indian Overseas Bank (IOB), Central Bank of India, UCO Bank and United Bank of …
  • Why Sobha is a good real estate pick 22 Feb 2020 13:28 The real-estate sector, which had a lot of expectations from the Budget, was disappointed as there was no concrete Budget proposals to boost the ailing sector. However the Reserve Bank of India in its latest monetary policy announced several measures that …
  • How recent policies have impacted NBFCs 22 Feb 2020 13:28 Over the past month, while the Nifty Bank index has underperformed the Nifty 50 index, the Nifty Financial has outperformed the Bank index. Select non-banking finance companies (NBFCs) /non-lending financial stocks have moved up 10-20 per cent. Various …
  • 19 years after mother’s death, siblings receive gold earring snatched from her on Mumbai train in 1992 22 Feb 2020 11:06 Written by Iram Siddique | Mumbai | Published: February 22, 2020 4:08:19 pm Kadam and his sister at GRP’s Kurla station Friday. Memories of the hardships faced by his mother flooded Dinesh Kadam on Friday as the GRP handed him back a single gold earring …
  • Rivals slam PhonePe’s ATM business 22 Feb 2020 06:52 BENGALURU: PhonePe ATM, a new service that lets consumers withdraw cash from its offline merchants via the Unified Payments Interface (UPI), has angered rivals who have drawn the attention of the regulator to the issue, three people aware of the matter …
  • Govt to seek NPA relief for companies hit by coronavirus 22 Feb 2020 06:16 NEW DELHI: The government is going to seek a relaxation in rules for classification of bank loans to a certain set of companies as a “sub-standard” asset, citing difficulties faced by them. These entities are engaged in export and import, or are those that …
  • ‘Shiva Express Now Entering…Menstruating Women Move Away’: How Warrior Trolls Of Kerala Are Fighting Hatred, Communalism 22 Feb 2020 05:28 Social media, despite being a wasteful distraction for the most part, is immensely entertaining and educating at times. Social media spaces in Kerala revived over the past few years a facet of the Malayali mind that had seemed almost extinct – sense of …
  • 10 key things you should know about 22 Feb 2020 04:42 The Reserve Bank of India (RBI) has introduced new design banknotes in the denomination of ₹2,000 as part of the Mahatma Gandhi (New) series. The new design currency notes are distinctly different from the current Mahatma Gandhi Series of bank notes in …
  • IDFC First Bank to raise up to Rs 2000 cr in tier-II debt capital via bonds 21 Feb 2020 15:39 IDFC First Bank is raising up to Rs 2,000 crore in tier-II debt capital via bonds to strengthen capital base, improve buffers and support business growth. The private lender’s capital adequacy ratio (CAR) was 13.29 per cent at the end of December 2019, …
  • NCLT reserves its order on Wadhawan’s plea to be part of CoC of DHFL 21 Feb 2020 13:59 MUMBAI: The Mumbai bench of the National Company Law Tribunal (NCLT) has reserved its order on the plea of the promoter of Dewan Housing Finance (DHFL) to be present in the meetings of debt-laden non-banking finance company (NBFC). Dheeraj Wadhawan, one of …
  • RBI in discussion with institutions; efforts on to include G-Secs in global indices soon: Das 21 Feb 2020 11:47 By Kumar Dipankar & Ammar Zaidi NEW DELHI: Reserve Bank of India Governor Shaktikanta Das has said the central bank has already initiated discussions with some institutions and efforts are on for inclusion of government bonds in global indices as …
  • Banks shut in Mumbai, Bengaluru, other cities for 3 days from today 21 Feb 2020 09:11 NEW DELHI : Banks are shut for three consecutive days, starting from today, in several cities incuding Mumbai, Bengaluru and Ahmedabad. To mark the holy festival of Mahashivratri, the Reserve Bank of India (RBI) has declared a bank holiday today in several …
  • Chandigarh: Kirron Kher’s PA cheated of Rs 74,000 in online fraud, case registered 21 Feb 2020 05:55 Chandigarh MP Kirron Kher (Express file photo) UNKNOWN PERSONS were booked for withdrawing Rs 74,000 from the account of Oma Kant Tiwari, personal secretary of Chandigarh MP Kirron Kher, after obtaining information about the last four digits of his ATM …
  • DHFL nets a profit in Q3 on tax adjustments, stock gains 5% 21 Feb 2020 04:53 Bankrupt mortgage-lender Dewan Housing Finance posted a net profit of Rs 934 crore in the December quarter on account of tax adjustments of Rs 1,973 crore. It had posted a loss of Rs 6,705 crore during the same period last year. The company reported a pre- …
  • As yields soften, India Inc rushes in to issue papers 21 Feb 2020 02:57 Indian companies lined up bonds worth Rs 42,271 crore for issue in the local market in just about a week after the Reserve Bank of India said it would infuse Rs 1 lakh crore through longterm repo operation (LTRO), pulling yields down. The amount was double …
  • GMR Group to sell 49% stake in airport business to France's Groupe ADP 20 Feb 2020 22:33 GMR Group has signed an agreement with Groupe ADP of France to sell a 49 per cent stake in its airport-holding company. The group will raise Rs 10, 780 crore from the deal, which will help it pare debt. The deal values GMR Airports at Rs 22,000 crore. GMR …
  • RBI unveils 5-yr financial inclusion strategy: Here're key recommendations 20 Feb 2020 21:19 The Reserve Bank of India (RBI) has come up with a National Strategy for Financial Inclusion 2019-24, aimed at providing access to formal financial services in an affordable manner. It aims to promote financial literacy among customers. The Financial …
  • Leading Peer to Peer Bitcoin Marketplace Paxful Processed $1.6 Billion in Global BTC Trading Volume in 2019: Report 20 Feb 2020 19:43 February 20, 2020 @ 7:30 am By Omar Faridi Paxful, a leading peer-to-peer (P2P) Bitcoin marketplace, revealed that it processed more than $1.6 billion worth of global trading volume last year. India’s digital assets industry has been experiencing major …
  • Israeli Banks Must Not Deny Financial Services to Firms Dealing in Crypto-Asssets, Says Israeli Attorney General 20 Feb 2020 19:42 February 20, 2020 @ 8:48 am By Omar Faridi Israeli banks and other financial institutions in the country must not deny banking services to companies dealing in crypto-assets, Avichai Mandelblit, Israel’s attorney general, recently stated. Instead of …
  • Hinduja Group, Cerberus Capital may partner to bid for YES Bank stake 20 Feb 2020 19:38 Hinduja Group Ltd. is partnering with private equity firm Cerberus Capital Management LP in seeking to pick up a stake in embattled Yes Bank Ltd., according to people familiar with the matter. Representatives of Cerberus and the UK-based Hinduja group, run …
  • Public to private 20 Feb 2020 19:35 By: Editorial | Published: February 21, 2020 12:02:50 am While improving governance standards and allowing banks to function as independent and autonomous entities should be a top priority, it is unlikely to happen with the government continuing to hold a …
  • Axis Bank looks to buy up to 30% stake in Max Life 20 Feb 2020 19:23 Max group on Thursday said Axis Bank, Max Financial Services and its subsidiary Max Life Insurance are in exclusive talks to explore the possibility of Axis Bank entering into a long-term strategic partnership with Max Life. The companies, however, did not …
  • Groupe ADP to acquire 49% stake in GMR Airports 20 Feb 2020 18:53 INDIA. Groupe ADP is to acquire a 49% stake in GMR Infrastructure Limited’s (GIL) Airports Business division for around INR107.8 billion (US$1.46 billion). The initial stake of 24.99% will be purchased in coming days. The second tranche is subject to …
  • Moody’s revises global GDP forecast down following spread of COVID-19 20 Feb 2020 18:48 Moody’s has revised its global GDP growth forecast down considering the adverse impact of COVID-19 on the world’s economy. “We have revised our global GDP growth forecast down, and we now expect G-20 economies to collectively grow 2.4% in 2020, a softer …
  • Hinduja eyes tie-up with Cerberus Capital to invest in Yes Bank 20 Feb 2020 18:25 The talks are at a preliminary stage and a potential deal could eventually see participation from other investors, the people cited above said on condition of anonymity. Hindujas currently own a stake in another private lender, IndusInd Bank. Therefore, it …
  • Shaktikanta Das felt economy needs more monetary stimulus: MPC minutes 20 Feb 2020 18:09 When the Monetary Policy Committee (MPC) members met earlier this month they decided to keep the policy repo rate unchanged as they wanted to maximise the impact of any future rate cuts, show minutes of the meeting. The MPC, which met on February 4 and …
  • RBI clears Sunil Gurbaxani appointment Dhanlaxmi Bank MD 20 Feb 2020 18:06 Reserve Bank of India (RBI) on Thursday approved appointment of Sunil Gurbaxani as managing director and CEO of Dhanlaxmi Bank. Gurbaxani is working with Axis Bank at present. "RBI has approved the appointment of Sunil Gurbaxani as Managing Director …
  • Finance ministry collecting data to assess extent of financial exclusion in West Bengal, Bihar and northeast 20 Feb 2020 17:57 KOLKATA: The finance ministry is collecting data based on socioeconomic and banking parameters from West Bengal, Bihar and the north-eastern states to assess the extent of financial exclusion in this region, two senior bank executives said. The survey is …
  • Muthoot Finance Ltd announces pricing of USD 550 million 4.40% notes 20 Feb 2020 17:19 The Finance Committee of the Board of Directors of Muthoot Finance Limited ("Company") at its meeting held on February 20, 2020, has approved the pricing, tenure and other terms of the Notes under the GMTN Programme (the "Issue"). The …
  • Hindujas, Cerberus may pick up stakes in Yes Bank 20 Feb 2020 17:14 Mumbai, Feb 20 (IANS) Cash-starved private lender Yes Bank may be rescued by the Hinduja Group as reports say that Gopichand Hinduja and Ashok Hinduja met Reserve Bank of India officials earlier this month regarding the bid. Reports suggest that the …
  • RBI minutes: MPC members feel economy still hasn't bottomed out 20 Feb 2020 14:06 NEW DELHI: The Reserve Bank of India (RBI) remained concerned about the slower pace of growth in Indian economy amid uncertain macroeconomic data, minutes of the February policy meeting of the Monetary Policy Committee (MPC), showed on Thursday. Deputy …
  • SBI Cards IPO opens on March 2: Key things to know about Rs 9,000-cr offer 20 Feb 2020 13:45 The much-awaited initial public offering (IPO) of SBI Cards and Payment Services, a subsidiary of State Bank of India (SBI), will open on March 2, confirms to its prospectus. The company aims to raise around Rs 9,000 crore ($1.25 billion). The IPO will be …
  • JSW Steel to pay Rs 19,700 cr by Mar 15 to acquire BPSL 20 Feb 2020 12:17 New Delhi, Feb 20 (IANS) JSW Steel is all set to wrap up one of the long-drawn and high-profile insolvency resolution cases, as it is likely to pay Rs 19,700 crore for acquiring the bankrupt Bhushan Power and Steel Ltd by March 15, sources said. On Monday, …
  • Debt-ridden DHFL posts Q3 net profit at Rs 934 crore 20 Feb 2020 12:07 Mumbai (Maharashtra) [India], Feb 20 (ANI): Debt-ridden mortgage lender Dewan Housing Finance Corporation Ltd (DHFL) on Thursday reported a standalone net profit of Rs 934 crore in the third quarter of current financial year as against a loss of Rs 6,705 …
  • Bhushan Power Acquisition: JSW Steel likely to pay Rs 19,700 cr by March 15 20 Feb 2020 11:53 JSW Steel is all set to wrap up one of the long-drawn and high profile insolvency resolution cases, as it is likely to pay Rs 19,700 crore to acquire the bankrupt Bhushan Power and Steel Ltd by March 15, sources said. On Monday, the National Company Law …
  • Edited Transcript of SEDG earnings conference call or presentation 19-Feb-20 9:30pm GMT 20 Feb 2020 11:30 Herzliya Feb 20, 2020 (Thomson StreetEvents) -- Edited Transcript of Solaredge Technologies Inc earnings conference call or presentation Wednesday, February 19, 2020 at 9:30:00pm GMTSolarEdge Technologies, Inc. - CFOSolarEdge Technologies, Inc. - CEO & …
  • Hindujas, Cerberus may partner to bid for YES Bank stake 20 Feb 2020 10:45 By Baiju Kalesh and Suvashree Ghosh Hinduja Group Ltd. is partnering with private equity firm Cerberus Capital Management LP in seeking to pick up a stake in embattled Yes Bank Ltd., according to people familiar with the matter. Representatives of Cerberus …
  • Hindujas, Cerberus will partner to bid for Yes Bank stake 20 Feb 2020 10:26 Representatives of Cerberus and the U.K.-based Hinduja group, run by brothers Gopichand Hinduja and Ashok Hinduja, met Reserve Bank of India officials earlier this month regarding the bid, the people said, asking not to be named as the information is …
  • Goldman sees little room for RBI to ease rates 20 Feb 2020 10:10 By Anirban Nag India’s central bank is running out of room to ease interest rates further, but there’s little reason to worry as the current monetary policy isn’t seen as restrictive to money supply growth. That’s the finding of a report from Goldman Sachs …
  • India’s history in currency is the subject of Rezwan Razack’s Museum of Indian Paper Money 20 Feb 2020 10:06 Hailed as the largest collector of Indian currency, Rezwan Razack has opened South India’s first currency museum in Bengaluru. “I am so happy that the former Governor of the Reserve Bank of India, C. Rangarajan inaugurated the museum,” says Razack. Razack, …
  • After resolution of big steel cases, banks expect low recoveries from IBC 20 Feb 2020 09:38 Having resolved big-ticket insolvency cases like Essar and Bhushan Steel, bankers are now looking forward to a recovery rate of not more than 20-30 per cent. Till December, 2019, realisation by financial creditors (FCs) under the 190 resolution plans …
  • Coronavirus Outbreak to Impact Global Economic Growth, India Needs to Remain Watchful - RBI Chief 20 Feb 2020 08:58 India 22:29 GMT 19.02.2020(updated 03:46 GMT 20.02.2020) Get short URL New Delhi (Sputnik): The death toll from the Coronavirus epidemic in China crossed the 2,000 mark on Wednesday as 136 more people were reported to have died, while the overall number of …
  • Payment not a worry: Iran, Uco Bank tell tea traders 20 Feb 2020 03:26 Kolkata: The Iranian government and Uco Bank have assured Indian tea traders that exports to Iran will not face any problem with payment. In the past, some tea exporters faced delay in payment from Iran, which has created an air of uncertainty for the …
  • RBI for dilution of promoters' shareholding in Kotak Mahindra Bank 20 Feb 2020 02:45 Mumbai (Maharashtra) [India], Feb 19 (ANI): Kotak Mahindra Bank said on Wednesday that the Reserve Bank of India (RBI) has granted final approval on the dilution of promoters' shareholding in the bank. This marks the end of a 13-month old dispute after …
  • Muthoot Finance to raise up to $550 million via offshore bonds 19 Feb 2020 18:06 MUMBAI: Muthoot Finance is set to raise up to $550 million (Rs 3,900 crore) by selling bonds to international investors to expand its gold loan business, three people with direct knowledge of the matter said. Surging gold price has strengthened the company …
  • India in NZ | A test of skill and character for Virat Kohli & Co. 19 Feb 2020 17:33 Virat Kohli and his men face a searching examination of skill and character as the first Test, beginning on Friday, approaches. There is grass on this Basin Reserve surface and the New Zealand pacemen will be relentless in their quest for scalps. However, …
  • BJP to explain ‘Budget goodies’ in all 732 districts of India 19 Feb 2020 15:25 New Delhi, Feb 19 (IANS) If you thought the government is done with the Budget after presenting it, think again. Now, the ruling Bharatiya Janata party lawmakers will go to every district of India – 732 in total, to talk about the “goodies” of the Union …
  • A Peek Into The Markets: US Stock Futures Up Ahead Of Economic Data, Fed Minutes 19 Feb 2020 11:06 Pre-open movers U.S. stock futures traded higher in early pre-market trade. Data on housing starts for January and the Producer Price Index for January will be released at 8:30 a.m. ET. Data on e-commerce sales for the fourth quarter and the Census Bureau …
  • Kotak Mahindra Bank gets RBI nod for trimming promoters' stake 19 Feb 2020 09:35 New Delhi: Private sector Kotak Mahindra Bank on Wednesday said the Reserve Bank has granted its final approval for reducing promoters' stake in the bank to 26 per cent. On January 30, the bank had informed about RBI's in-principle acceptance for …
  • Kotak Mahindra Bank receives RBI approval for dilution of promoters' shareholding 19 Feb 2020 09:18 The Reserve Bank of India has granted its final approval vide its letter dated 18th February 2020 in the matter relating to dilution of promoters' shareholding in the Bank. Shares of KOTAK MAHINDRA BANK LTD. was last trading in BSE at Rs.1692.85 as …
  • Stocks - Europe Seen Higher; Looking for Central Bank Largesse 19 Feb 2020 08:41 By Peter Nurse Investing.com - European stock markets are set to open in positive territory Wednesday, helped by gains in Asia, as market participants expect central bank largesse to mitigate the damage caused by the outbreak of the coronavirus in China. …
  • Kotak Mahindra Bank promoters get RBI nod to cap voting rights, pare stake 19 Feb 2020 07:22 Private sector lender Kotak Mahindra Bank on Wednesday informed stock exchanges that the Reserve Bank of India (RBI) has given its final approval to the bank’s proposal on stake reduction in the bank and capping the promoters’ voting rights. "Further …
  • New Zealand vs India: Virat Kohli on why Black Caps are so tough at home 19 Feb 2020 04:10 The old brewery sponsored tune of the 1990s used to proclaim: "You can't beat Wellington on a good day, or even a bad day too". For India and their captain Virat Kohli, any win in Wellington will do as they look to halt a surprising 52-year …
  • Long-term repo funds: Dress rehearsal before a bigger play? 19 Feb 2020 04:05 "Since Adam Smith, economists have generally believed in the capacity of free markets to allocate resources efficiently. But most of my colleagues and I recognised that, in a financial panic, fear and risk aversion prevent financial markets from …
  • Fiscal policies challenged in SC: Govt economic team has clash of interest 19 Feb 2020 02:52 Fiscal policies challenged in SC: Govt economic team has clash of interest ISLAMABAD: Former caretaker federal minister for finance Muhammad Zubair Khan has challenged the fiscal policies of the government and appointment of Advisor to the Prime Minister …
  • RBI may push back rollout of new accounting norms to FY23 19 Feb 2020 02:30 Mumbai: The Reserve Bank of India could push the implementation of Ind-AS — the Indian version of global accounting standards — to fiscal 2023, seeing poor preparedness of banks to make the transition. The new rules are expected to add to the burden of …
  • What Will It Take for India to Reach Its Infrastructure Goals? 18 Feb 2020 19:54 Skepticism abounds over whether the nearly $3 trillion Indian economy is growing fast enough to reach Prime Minister Narendra Modi’s GDP target of $5 trillion by 2024-2025. But signs suggest that economic activity may have bottomed out, and foreign …
  • Political, religious & demographic dynamics in South Asia& threatened co-existence of people with pluralities 18 Feb 2020 07:56 Dr. Firoz Mahboob Kamal 17 February 2020 Myth of rising Asia & the reality ‘Rising Asia’ now runs as a myth in many Asian and non-Asian countries. But such a myth hides many awful realities. The case of ‘rising Europe’ in the past with its mighty …
  • Demand for India’s next repo issue may be less than blockbuster 18 Feb 2020 07:39 By Kartik Goyal India’s first long-term repo operation was a blowout. Investor’s interest in the second round may be relatively tame as they shy away from locking rates for a shorter tenor as borrowing rates are expected to fall further. The Reserve Bank …
  • Voda Idea: As threat of closure looms, Kumar Mangalam Birla meets DoT secy 18 Feb 2020 07:15 Vodafone Idea Chairman Kumar Mangalam Birla, MD and CEO Ravinder Takkar on Tuesday called on Telecom Secretary Anshu Prakash amid concerns of its very survival if the government invokes bank guarantee over no payment of adjusted gross revenue (AGR). The …
  • Securities and Exchange Board of India Launches Regulatory Sandbox for Fintech Firms 18 Feb 2020 06:20 February 17, 2020 @ 10:36 pm By Omar Faridi India’s financial technology sector is expanding rapidly, which has led to SEBI, the nation’s financial market regulator, to launch a regulatory sandbox. The sandbox program will assist local Fintech firms with …
  • Coronavirus Deepens India’s Economic Chill 18 Feb 2020 05:30 AdvertisementOnce Asia’s fastest-growing major economy, India’s recent downturn has seen the government hit the fiscal panic button. Will the coronavirus kill off its rescue effort? As of February 17, India had only three confirmed cases of COVID-19, the …
  • India x Cleantech — February 2020 18 Feb 2020 03:43 Cars Published on February 17th, 2020 | by Saurabh 0 February 17th, 2020 by Saurabh  Originally published on Future Trends. Welcome to another issue of our new India x Cleantech series! On a monthly basis, we are pulling news from across clean technology …
  • AGR dues: Vodafone Idea on the brink as DoT may revoke bank guarantees 17 Feb 2020 22:21 In a day of twists and turns, the government received Rs 14,697 crore from three companies out of the telecom sector’s total dues linked to adjusted gross revenue (AGR) estimated at Rs 1.47 trillion, even as the Supreme Court dismissed Vodafone Idea’s plea …
  • Airtel, Voda Idea make part payment; DoT mulls encashing bank guarantees 17 Feb 2020 19:39 After a Supreme Court rap for missing payment deadline, top telecom firms Bharti Airtel, Vodafone Idea and Tata Teleservices on Monday scrambled to pay a part of the outstanding dues even as the apex court refused to stop the government from taking …
  • Government must continue reforms; green shoots of recovery visible: RBI governor Shaktikanta Das 17 Feb 2020 14:22 By PTI NEW DELHI: Reserve Bank Governor Shaktikanta Das on Monday said the government will have to use structural reforms to revive demand and support the sagging economy, and green shoots of the recovery visible now need to be sustained to pull India out …
  • BRIEF-India Cenbank Cancels Certificate Of Registration Of 2 Non-Banking Financial Cos 17 Feb 2020 14:09 Feb 17 (Reuters) - Reserve Bank of India * RESERVE BANK OF INDIA - CANCELS CERTIFICATE OF REGISTRATION OF 2 NON-BANKING FINANCIAL COS, INCLUDING STANCHART SECURITIES PRIVATE LTD Source text: (bit.ly/2SD0BdH)
  • Calcutta HC asks RBI to take appropriate action against Bank of Baroda 17 Feb 2020 12:48 The Calcutta High Court has directed the Reserve Bank of India to consider appropriate steps against Bank of Baroda (BoB), including revoking its licence or authority to carry on with banking business, if necessary, for failing to honour a bank guarantee …
  • Moody's cuts India's 2020 growth forecast to 5.4% amid coronavirus fears 17 Feb 2020 12:22 Global rating agency Moody’s said on Monday that India’s economic recovery is likely to be shallow and expand at a lower pace of 5.4 per cent in Calendar 2020 than the earlier estimate of 6.6 per cent. In a review of the global economy to asses likely to …
  • Bank of Baroda falls 4% as Calcutta HC asks RBI to take action against it 17 Feb 2020 12:15 Shares of public sector lender Bank of Baroda (BoB) declined over 4 per cent on Monday after the Calcutta High Court directed the Reserve Bank of India (RBI) to consider appropriate steps against it, including revoking its licence or authority to carry on …
  • Best of BS Opinion: Trump's India visit, SC blow on AGR dues, and more 17 Feb 2020 11:28 Policy flip flops have reduced the once vibrant telecom sector to crisis point, and the Supreme Court’s decision to reject telecom companies’ petitions seeking an extended duration to pay hefty dues linked to the adjusted gross revenue (AGR) is another …
  • Moody's revises India GDP forecast to 5.4 pc in 2020 17 Feb 2020 07:19 Banks have been both unwilling to lend and to lower lending rates despite successive interest rate cuts by the central bank Moody's Investors Service on Monday revised its growth forecasts for India to 5.4 per cent for 2020 calendar year and 5.8 per …
  • LIC Housing cracks 12% as reports suggest merger with IDBI Bank on fast track 17 Feb 2020 05:09 Shares of LIC Housing Finance cracked 12 per cent in Monday’s early trade after reports that the country’s biggest institutional investor Life Insurance Corporation of India (LIC) may speed up the process of merging its housing finance arm with IDBI Bank. …
  • Bank of England has some lessons for RBI on how to revive growth 17 Feb 2020 01:49 The Reserve Bank of India could possibly draw inspiration from BOE’s Funding for Lending Scheme to jump start loan growth in the economy that’s set for its weakest expansion in 11 years, said A Prasanna, chief economist at ICICI Securities Primary …
  • Bank frauds this fiscal have their roots in the past 16 Feb 2020 17:50 Banking frauds have been rising. During the first six months of this fiscal, frauds of ₹1 lakh and above, as reported by commercial banks, touched ₹1.13 trillion. This, after frauds worth ₹41,167 crore had been reported in 2017-18. Why is this happening? …
  • Calcutta HC asks RBI to mull 'appropriate steps' against Bank of Baroda 16 Feb 2020 09:55 The court was hearing a case between Bank of Baroda and Indian Oil Corp Ltd (IOCL) on a bank guarantee issued to Simplex Projects Ltd and later invoked by the oil marketing company (OMC). “Considering the conduct of the appellants, the Reserve Bank of …
  • If a bank chief isn't beholden to a finmin join secretary; he will behave differently, says Montek Singh Ahluwalia 15 Feb 2020 21:44 Montek Singh Ahluwalia, former deputy chairperson of the erstwhile Planning Commission and one of India’s most experienced economic policymakers is the author of ‘Backstage: The Story Behind India’s High Growth Years’. He spoke to Nalin Mehta and Sanjiv …
  • Transmission of rate cuts improving; expected to improve further: RBI Governor Shaktikanta Das 15 Feb 2020 14:29 A customary post-budget meeting of Central Board of Directors' Reserve Bank of India (RBI) was held in Delhi on Saturday. The meeting was attended by Finance Minister Nirmala Sitharaman, RBI Governor Shaktikanta Das, MoS Finance Anurag Thakur, and …
  • Transmission of rate cuts improving steadily: RBI Governor 15 Feb 2020 11:57 New Delhi [India], Feb 15 (ANI): Reserve Bank of India (RBI) Governor Shaktikanta Das on Saturday said that transmission of policy rate is steadily improving. While addressing the media in New Delhi, the RBI Governor said, "Impact of the rate cut has …
  • Lakshmi Vilas Bank Q3 loss narrows to Rs 334 crore; provisions fall 14 Feb 2020 16:59 New Delhi: Private sector lender Lakshmi Vilas Bank, which is under the RBI's prompt corrective action (PCA), on Friday said its net loss has narrowed to Rs 334.48 crore during the third quarter ended December 2019. The bank had a net loss of Rs 373.49 …
  • SBM Bank India Teams Up with Karbon to Launch Karbon Card, India’s First Corporate Credit Card for Startups 14 Feb 2020 08:37 February 14, 2020 @ 1:44 am By Omar Faridi SBM Bank India recently confirmed that it has teamed up with Karbon in order to introduce the Karbon Card, which is notably one of the nation’s first corporate credit card designed specifically for startups or …
  • India's wholesale inflation climbs 3.1 per cent in January: Government data 14 Feb 2020 07:24 Roadside vegetable vendors sell vegetables in Mumbai, India. (Image source: Bloomberg) India Wholesale Price Index (WPI) Data: The country’s wholesale inflation rose to 3.1 per cent in January, according to the data released by the Ministry of Commerce …
  • Yes Bank delays announcement of Q3 results 13 Feb 2020 19:21 Mumbai (Maharashtra) [India], Feb 13 (ANI): Private sector lender Yes Bank has delayed the announcement of its third quarter (October to December) results of current financial year on the ground of fund-raising exercise which is currently underway. The …
  • Coronavirus outbreak: Exporters of jewellery seek 6-mth extension 13 Feb 2020 19:11 Faced with around $2 billion of payment receivables stuck with jewellery importers in China due to the coronavirus outbreak, the Gems and Jewellery Export Promotion Council (GJEPC) has sought a six-month extension in credit from lenders. Currently, the …
  • S&P confident of India’s economic recovery, affirms sovereign ratings 13 Feb 2020 12:09 It said the outlook on the long-term rating was stable. The stable outlook reflects its view that “India's growth will stabilize and begin to recover from its current low ebb," the rating agency said in a statement. "Fiscal deficits will …
  • India Inflation Seen Peaking, Opens Room for Rate Cuts 13 Feb 2020 06:49 (Bloomberg) -- India’s inflation may have peaked in January and will probably ease in coming months, allowing the central bank room to resume interest-rate reductions. Data Wednesday showed retail inflation surged to 7.6% last month from a year earlier, …
  • Residential realty sees early signs of green shoots 13 Feb 2020 05:20 The country’s residential real estate market is beginning to look up. India's top 35 property markets, including tier I and II, recorded 3% year-on-year and 5% sequential growth in sales during the quarter ended December, data from Liases Foras Real …
  • PMC Bank scam: Auditor got junkets, high fees to keep shut 13 Feb 2020 03:53 Image Source : PTI/FILE PMC Bank scam: Auditor got junkets, high fees to keep shut The scam-hit Punjab & Maharashtra Cooperative Bank Ltd had allegedly tried to influence its auditors by sending them on junkets to Goa and other places in order to …
  • Ex-directors of DHFL seek to be part of Committee of Creditors 13 Feb 2020 03:45 MUMBAI: The former directors of Dewan Housing Finance Corporation (DHFL) has approached the Mumbai bench of the National Company Law Tribunal (NCLT), Mumbai bench seeking its intervention to direct the administrator to be part of the meetings of Committee …
  • Sachin Bansal wants to start a bank 12 Feb 2020 23:19 'If the RBI blesses us with a banking licence, we would like to launch a successful bank,' Sachin Bansal tells Bibhu Ranjan Mishra. Illustration: Dominic Xavier/Rediff.com   It might just be a coincidence, but both of us reach the venue for our …
  • Indian firms issue record dollar bonds in first six weeks of 2020 12 Feb 2020 11:27 Indian firms are ramping up issuance of dollar-denominated bonds this year to exploit a rising global appetite for high-yielding debt and the relaxation of domestic rules on the use of funds raised, data from Refinitiv showed on Wednesday. Refinitiv data …
  • Bank of Baroda cuts MCLR by up to 10 bps; home, auto loans to get cheaper 10 Feb 2020 10:12 State-owned Bank of Baroda on Monday announced cut in its marginal cost of funds-based lending rates (MCLR) by up to 10 basis points, effective February 12. The reduction will make home, auto and other loans cheaper for new borrowers. With this reduction, …