Govt set to clear another major relief package for NBFCs, HFCs

The Union Cabinet is soon going to clear another set of measures aimed at providing a big relief to the non-banking finance companies (NBFC) and housing finance players (HFC), ETNow reported quoting sources. “There may be a further relaxation in the partial credit guarantee scheme,” the report said, adding that the Finance Ministry is in … Read more Govt set to clear another major relief package for NBFCs, HFCs

Information Office Issues Show-Cause Notice To RBI Over “Causal” Approach

In spite of the commission’s notice to be present during the hearing, the RBI CPIO did not appear New Delhi: The Central Information Commission has issued a show-cause notice to the Reserve Bank of India for not appearing before it in a matter pertaining to disclosure of inspection reports of HDFC Bank, calling it “casual” … Read more Information Office Issues Show-Cause Notice To RBI Over “Causal” Approach

DHFL insolvency process starts, investors’ claims sought

Mumbai: In a major development, the RBI-appointed Administrator for the beleaguered Dewan Housing Finance Ltd (DFHL) on Thursday asked all its fixed deposit and non-convertible debenture holders to file their claims before December 17. The move comes ahead of the Supreme Court hears a group of investors who have moved it on the matter, and … Read more DHFL insolvency process starts, investors’ claims sought

RBI investigating ‘net banking’ breakdown at HDFC Bank

Mumbai: A team of experts constituted by the Reserve Bank of India is in the process of investigating the reasons for the breakdown of HDFC Bank’s digital banking channels which caused for millions of customers to be locked out of their net banking and mobile banking accounts for over 48 hours earlier this week. “We … Read more RBI investigating ‘net banking’ breakdown at HDFC Bank

Severe slowdown: When will the Indian economy recover and how?

India’s gross domestic product (GDP) growth has dropped to 4.5% in the July-September quarter of 2019-20, a free fall from the government’s ambitious call for a double-digit growth not so long ago. Propelling India into a $5 trillion economic behemoth by 2024-2025 also seems implausible now. The fall has been sudden although not entirely unexpected. … Read more Severe slowdown: When will the Indian economy recover and how?

YES Bank board okays nearly $2 billion fund-raising plan

MUMBAI: Yes Bank said it would raise nearly $2 billion in a share sale with a Canadian billionaire Erwin Singh Braich buying more than half of it or $1.2 billion. The rest will be bought by private equity investors, helping the bank overcome its financial difficulties. The plan is subject to regulatory approvals. In a … Read more YES Bank board okays nearly $2 billion fund-raising plan

RBI red flags rising Mudra bad loans

MUMBAI: Reserve Bank Deputy Governor MK Jain on Tuesday raised concerns over the growing NPA levels in Mudra loans and asked banks to monitor these loans closely. The Mudra loan scheme was launched by Prime Minister Narendra Modi in 2015 to help the highly under-funded small and medium industries with cheap bank loans. “Mudra is … Read more RBI red flags rising Mudra bad loans

RBI supersedes DHFL board, to initiate insolvency proceedings soon

The Reserve Bank of India on Wednesday superseded the board of debt-laden Dewan Housing Finance Corporation Limited (DHFL) as it intends to shortly initiate process of resolution of the company under the insolvency and bankruptcy rules. The company is all set to become India’s first financier to land up in bankruptcy courts. The move comes … Read more RBI supersedes DHFL board, to initiate insolvency proceedings soon

RBI Grade ‘B’ Officer Exam Result Out

RBI grade ‘B’ officer exam result out. Check result at rbi.org.in New Delhi:  Results have been announced for RBI Grade ‘B’ Officer exam held on November 9. The Reserve Bank of India (RBI) has released the list of candidates shortlisted for the second phase exam which would be held on December 1 and December 2. … Read more RBI Grade ‘B’ Officer Exam Result Out

Transfer of surplus money from RBI in future to depend on income, expert panel suggestions: Nirmala Sitharaman

NEW DELHI: Finance Minister Nirmala Sitharaman on Monday said transfer of surplus reserves from the Reserve Bank of India (RBI) to the government in future will depend on net income and other financial parameters of the central bank besides the recommendations of the expert committee on excess capital. The surplus distribution policy of RBI is … Read more Transfer of surplus money from RBI in future to depend on income, expert panel suggestions: Nirmala Sitharaman

RBI has cut rates by 110 bps since April, but average lending rates goes up 8 bps: Report

MUMBAI: Despite the Reserve Bank making credit cheaper, lending rates are rising for borrowers after accounting for inflation and falling economic growth, a foreign brokerage said on Monday. The weighted average lending rate in the system is up 0.08 percent since April, economists at Bank of America Merrill Lynch said in a report. Economic growth … Read more RBI has cut rates by 110 bps since April, but average lending rates goes up 8 bps: Report

Shaktikanta Das faces an increasingly tough balancing act

By: Anirban Nag Soon after taking over as RBI governor almost a year ago, Shaktikanta Das decorated his 18th floor office overlooking the Arabian Sea with two statues of Lord Jagannath, a form of the Hindu god Vishnu. Revered in Das’s native Odisha state, Jagannath is depicted with round, lidless eyes that are always watching … Read more Shaktikanta Das faces an increasingly tough balancing act

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