The surge in inflation may lead to such an event. If inflation stays above the tolerance level, the MPC must take action. Although the MPC is mandated to meet at least four times, it can hold meetings more frequently.
Flipkart has already done so, and others like Swiggy and ride-sharing apps are about to follow. A key driver for this has been the phased relaxation of rules by RBI—most recently last Friday —on one-time passwords.
Flipkart has already done so, and others like Swiggy and ride-sharing apps are about to follow.
The study has concluded that ratings do not always reflect the asset quality of borrowers in a timely manner and there are concerns over delayed reporting of ratings by banks. But despite the limitations, the report says the use of external ratings in regulations is inevitable and ways to improve agency performance should be explored.
Insurance company officials say that fining brokers for dealing with select companies could now open up the business for two dozen companies. Customers could benefit if upstart companies start quoting low rates to get a toehold in the motor business.
Bank credit to industry shrunk by 3.9%, or Rs 1.13 lakh crore, during the first eight months of the current financial year, according to data released by the RBI. Despite this, overall bank credit continues to be up 1% largely due to home loans and other personal loans.
When a company faces insolvency proceedings, promoters are unable to raise funds for other businesses, and also they are not eligible to bid for any bankrupt business under Section 29A of the Bankruptcy Act. With effect from December 1, guarantors to any insolvent business too face bankruptcy proceedings.
The unsecured loans comprise both personal loans to salaried and loans to small businessmen.
he RBI considers deposits over Rs 2 crore as bulk deposits and smaller amounts as retail.
Banks have an exposure of close to Rs 1,00,000 crore in fund and nonfund based agreements.
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