The central bank is in the process of setting up a college of Supervisors, in addition to an internal supervisory research and analysis wing. The move is significant in the wake of criticism that the central bank received for not anticipating the crisis at the co-operative bank- PMC Bank. The RBI is working with the Govt to amend the Act governing co-operative banks.
Of the 2,542 cases admitted under IBC till date, 1,497 CIRPs or 59% of cases are still in court.
Icra has forecast that non-food credit growth will slow down to 8 to 8.5 per cent during FY'20.
The organisation rejig is expected to improve financial conglomerates' supervision.
Gold value in reserves changing more frequently since central bank accepted Jalan panel report.
India’s foreign exchange reserves also rose by $5 billion during the month to $433.5 billion by the last week of September.
Slowdown in credit offtake is an indication of a “ We believe though the sharp decline in credit flow to commercial sector do indicate heightened risk aversion in the system”, said S K Ghosh, group chief economist, SBI in a note.
ET explains the role of deposit insurance in India in such a situation.
The current limit for deposit cover in case of a bank failure to repay depositors of Rs one lakh per depositor was last revised in 1993.
Borrowing cost for old borrowers rose 7 basis points despite 110 bps rate cut between February & September.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon