Oct 23, 2019, 09.30 AM IST
Stock Analysis, IPO, Mutual Funds, Bonds & More

FIPB red-flagged issues in 6 cases, not INX: Agencies

FIPB unit ignored irregularities in INX Media case but red-flagged similar irregularities in half a dozen cases, said Agencies. The Unit was in "apparent haste" to process INX Media application thereby making fundamental calculation mistakes.

From hot cake to hot potato: The remoulding of mortgage lending

Mortgage is the safest piece in lending. But financial engineering for better returns made it vulnerable to liquidity risks. Both the govt and the RBI have taken measures to boost liquidity. But will it help in reviving the sector?

DHFL may buy back mutual fund bonds at discount

DHFL’s total debt stands at about Rs 84,000 cr and MFs own a small portion of it.

PMC Bank despositors' woes mount as RBI Governor abroad

Though RBI officials said they would be making a media announcement in the matter soon, the agitating depositors served an ultimatum till Oct. 30 to the RBI after which they would intensify their agitation, Utagi said.

Credit goes to buyers for lifting festive sentiment

Credit-funded buys touch a record of about 75% for consumer durables, 55-60% for smartphones.

RBI bans use of agents to chase loans

The regulatory decision is aimed at reducing data theft and minimising operational risk for banks

Market Movers: What changed for D-Street while you were sleeping

Here’s breaking down the pre-market actions.

Sebi issues framework for listing of commercial paper

Issuers must make appropriate disclosures at the time of listing and on a continuous basis.

PMC Bank depositors protest outside RBI headquarters

A police personnel says around 100 depositors, including women, raised placards and chanted slogans against PMC Bank and the RBI today during a protest outside the Reserve Bank headquarters in Mumbai demanding the return of their funds.

PMC Bank scam: Ex-director's police remand extended

Surjit Singh Arora was last week arrested by Mumbai Police's Economic Offences Wing (EOW) in connection with the alleged Rs 4,355 crore scam. The EOW found out the alleged HDIL group fraud was sheltered by him.

DHFL exposure: RBI rejects banks’ ‘Trust’ proposal

RBI declines the proposal by banks to grant relief from provisioning for the troubled mortgage lender.

Loans: Festive season offers and should you take them

During festival season, banks come out with various special loan offers. These loan offers are usually in the form of a waiver of processing fees, lower interest rates and so on. However, the question arises should you avail these loan offers?

Buy State Bank of India, target Rs 284: Chandan Taparia

Buy State Bank of India at a price target of Rs 284.0 and a stoploss at Rs 262 from entry point.

RBI hints more rate cuts likely to get economy on track

All six MPC members voted to retain the accommodative stance at the October meeting.

Govt measures, monetary easing to boost economy: RBI minutes

RBI slashed the policy repo rate by 25 basis points in the latest review.

Government's outstanding loans from RBI at Rs 402 crore in week ended October 11

The central government had an outstanding loan of 465.29 billion rupees in the week earlier .State governments had loans worth 51.79 billion rupees from the RBI in the week ended October 11, compared with 78.86 billion rupees in the previous week.

4 Tips to Inculcate Financial Discipline in Children

We know that children often mimic their parents’ behaviour when it comes to money and financial discipline imbibed young stays forever. Efficient money manag...

Rishi Kapoor compares PMC crisis to father's 'Shree 420', urges government to punish cheats

The actor expressed concerns over 'racketeering' in the country.

SC refuses to entertain plea seeking relief from RBI's money withdrawal limit for PMC bank depositors

The plea had sought directions to protect the interests of around 15 lakh customers whose money is blocked in the Punjab and Maharashtra Co-operative Bank scam. The RBI had put the initial cap on withdrawal at Rs. 1,000 and later increased to Rs. 40,000.

Muthoot Finance raises $450 million in debut dollar bond sale

Muthoot Finance plans to use the proceeds for both refinancing and other business purposes.

RBI governor faces board queries on financial frauds

Losses suffered by PNB, irregularities by IL&FS, PMC bank were some of the issues Das was confronted with.

Resolution delay forces banks to put NPAs on sale

Total NPAs in the banking system are pegged at ₹9.3 lakh crore.

Series-VI of the sovereign gold bond opens for subscription at Rs 3,785/gm

Investor would get a 2.50 per cent interest on the amount of initial investment.

Government looks to ease more FDI rules to attract investments

The department for promotion of industry and internal trade (DPIIT) has initiated an in-house exercise to identify additional sectors for easier FDI rules before it takes them up with the ministries concerned, sources said.

RBI imposes Rs 3 crore penalty on SBM Bank

A scrutiny was carried out by RBI to examine the implementation of SWIFT related operational controls in SBM Bank (Mauritius) at its Indian operations, and it was observed that it failed to comply with certain provisions, the RBI said.

Resolution delay forces banks to put NPAs on sale

Assets worth Rs 40,000 crore are up for sale in sectors such as power, roads, telecom in the first half of FY20. 34% of cases under IBC delayed as of June, up from 26% a year ago. The code is one of the signature reforms of the Modi govt.

PMC Bank assures to protect depositors interest; meets RBI

PMC Bank's administrator meeting with Shaktikanta Das came after police authorities confirmed the death of one more depositor after Sanjay Gulati's death. The bank also assured of recasting its balance sheet to present a true and fair picture.

RBI, Sebi ‘clash’ adds to defaulters’ resolution woes

Even if the bankers agree on a deal under the ICA, it is not binding on funds.

RBI reviews liquidity issues of non-bank lenders, bad loans

Credit growth of Indian banks hit a near two-year low in September because of lacklustre demand.

Kotak Life charges fixed income dealer for fraud

Kolhe has admitted to 70 deals in which he received money from external parties.

RBI allows banks to lend to InvITs

The central bank in the notification has told banks to lend to these funds ‘without prejudice to generality’.

RBI issues guidelines on 'on tap' authorisation on payment systems

For entities desirous to function, operate, or provide platforms for BBPOU, the RBI said they should have a Rs 100 crore net worth and should be maintained at all times.

Sell our assets to pay off PMC Bank's dues, Wadhawans write to RBI, agencies

The Wadhawans, who are the promoters of HDIL, have been accused of orchestrating the fraud at the Punjab and Maharashtra Cooperative Bank along with the bank's top management. The scam at the PMC Bank is worth Rs 4,355 crore.

Despite inflation rise, analysts see RBI cutting rates in Dec

Bank of America Merrill Lynch's economists said the sudden spurt in inflation is "temporary".

Small and midcaps provide a margin of safety but they need a growth catalyst : Nilesh Shah

If you buy quality companies run by good managers, there are better days ahead.

RBI-driven bond rally isn’t over, survey shows

The government plans to sell 2.68 trillion rupees of debt in the six months that began Oct. 1.

View: India needs one-year programmes that can boost demand during cyclical slowdowns

In India, there are no automatic stabilisers that can propel economy when domestic and global demand are down.

NBFCs bond with world, Muthoot Finance eyes $450 million

The firm reported 8% rise in its net profit at Rs 530 crore in the April-June quarter this year.

Market Movers: What changed for D-Street while you were sleeping

Nifty50 gained on Friday to enter the key resistance zone between 11,630 and 11,690 levels.

Altico and Mashreq approach RBI against HDFC Bank

Altico Capital had early last month said it defaulted on an interest payment to Mashreq Bank.

Lakshmi Vilas Bank, Syndicate Bank plunge to 52-week low as RBI slaps heavy fines

There were no buyers for the stock and pending orders accumulated to about 3 lakh shares.

RBI gives nod for Kerala Bank

With its formation, the proposed "Kerala Bank" will be largest banking network in the state.

Maharashtra government will explore option of PMC bank merger: Devendra Fadnavis

The alleged scam to the tune of Rs 4,355 crore scam at the bank is attributed to loans given to realty firm HDIL, which were allegedly hidden from regulators' scrutiny, turning non-performing assets.

CAIT demands high-level enquiry by govt to probe 'unholy nexus' of e-commerce companies, banks

Allegations of price distortion were long being levelled at ecomm. That war is now becoming serious.

Spoken to RBI Guv, concerns of PMC bank's customers will be addressed: FM

The bank was put under 'directions' by RBI last month due to weak financial health, wherein the central bank has capped the deposit withdrawals at Rs 25,000.

RBI imposes Rs 1 crore fine on LVB, Rs 75 lakh on Syndicate Bank for violating norms

In a similarly worded release, it said a monetary penalty of Rs 75 lakh has been imposed on Syndicate Bank for non-compliance with the directions issued by RBI on frauds classification and reporting.

PMC Bank mess: RBI hikes withdrawal limits for depositors to Rs 40,000

The Reserve Bank of India (RBI) has enhanced the withdrawal limit for depositors of Punjab and Maharashtra Cooperative (PMC) Bank Ltd to Rs 40,000. On October 3, the RBI had permitted the depositors of the bank to withdraw up to Rs 25,000 of the total balance in their accounts. With the relaxation, about 77 per cent of the depositors of the bank will be able to withdraw their entire account balance, the statement said.PMC Bank mess: RBI hikes withdrawal limits for depositors to Rs 40,000

World trade is likely to slow down further in 2019: RBI

The apex bank, in its monetary policy report, said the forward-looking indicators suggest that world trade is likely to slow down further this year.

RBI increases withdrawal limit for PMC Bank depositors from Rs 25,000 to Rs 40,000

The economic offences wing of Mumbai Police jaarrested Rakesh Wadhwan and his son Sarang Wadhwan, directors of HDIL.

RBI increases withdrawal limit for PMC Bank depositors from Rs 25,000 to Rs 40,000

The economic offences wing of Mumbai Police jaarrested Rakesh Wadhwan and his son Sarang Wadhwan, directors of HDIL.

Slowdown in consumption and downturn top of MPC’s mind

MPC members are concerned over the lack of monetary transmission despite surplus liquidity in the inter-bank system. They expect that the linking of lending rate to an external benchmark such as repo rate would start yielding better results.

How Malvinder and Shivinder Singh stripped Religare bare of Rs 3,000 crore

The FIR against the duo along with erstwhile CEO Sunil Godhwani provides details of the modus operandi of the systematic asset stripping.

RBI remains net seller of dollar in Aug; sells $4.1 billion

The central bank had purchased $615 million and sold $4.687 billion in the spot market.

Forex kitty nears USD 440 bn; touches fresh-life high

The forex reserves had increased by a higher USD 4.24 billion to a new high of USD 437.83 billion in the previous reporting week.

Another PMC Bank depositor dies; had no funds for surgery

Murlidhar Dharra (83) died at his home in suburban Mulund on Friday. The family had a total of Rs 80 lakh in deposits with the bank, which was placed under restrictions since September 24.

India doesn’t need to stimulate consumption like China

The underlying factors for slowdown in India are very different from that in China.

Credit Saison India gets NBFC licence from RBI

The company, which operates in the country under its registered name of Kisetsu Saison Finance India, has also received $30 million from the Tokyo Stock Exchange-listed parent entity.

The Sitharaghuraman show: Dear FM, economy needs corrective action, not blame game

​​The bottomline is that we need to move on. Postmortems serve no purpose. They result in a blame-game.

PMC crisis: Farhan Akhtar expresses disappointment in a cryptic tweet, wants culprits to 'rot in jail'

In the last four days, four people have lost their lives due to the stress.

Global economic risks reinforce need to strengthen multilateral global co-operation, besides govt initiatives: Sitharaman

She stated that in pursuing investment-led growth, one should not neglect sustainability, efficiency and transparency in debt and tax policies. She said IMF should provide solutions that are specific to important growth geographies.

Inflation likely to surge in Sept, but won't 'bring tears' to RBI

Economists in a Reuters poll said the central bank was not yet done with interest rate cuts.

RBI's quashing of Lakshmi Vilas Bank merger fans contagion risks

RBI’s “no” to Indiabulls will undoubtedly augment the panic situation in India’s financial industry.

BJP's Piyush Goyal calls Abhijit Banerjee Left-leaning

During a media briefing, Piyush Goyal dubbed 2019 Economics Nobel prize winner Abhijit Banerjee, as Left-Learning. Goyal said, "Banerjee supported 'NYAY' (poverty alleviation scheme of Congress) and people of India rejected his ideology.

RBI turns down Indiabulls Housing’s merger with Lakshmi Vilas Bank

Gagan Banga, Indiabulls Housing Finance (IHF) vice chairman, said it appears that the RBI saw the move as a backdoor entry into banking.

UCBs with PMC Deposits must be given time for provisioning, NGO writes to FinMin

NGO Sahakar Bharti has written to the Finance Minister, urging the government to amend the Banking Regulation Act to provide full regulatory powers to Reserve Bank of India to regulate all UCBs — scheduled as non-scheduled banks.

RBI rejects proposed Lakshmi Vilas Bank-Indiabulls merger

Lakshmi Vilas Bank on Wednesday said the Reserve Bank of India has rejected the proposed merger between the lender and Indiabulls Housing Finance “RBI vide their letter dated October 09, informed that the application for voluntary amalgamation of lndiabulls Housing Finance and lndiabulls Commercial Credit Limited with Lakshmi Vilas Bank Limited cannot be approved,” the bank said in a regulatory filing.RBI rejects proposed Lakshmi Vilas Bank-Indiabulls merger

RBI rejects Indiabulls Housing, Lakshmi Vilas Bank’s proposed merger

Ajit Mittal, ED, Indiabulls Group says he doesn't see any negative reaction from investors.

Equitas appoints investment banks for ESFB public issue

The spokesperson for Equitas declined to comment due to the silent period.

Money stuck for over a month, PMC Bank depositors stare at uncertain future

Depositors fear they may lose their lifetime earnings. Three have died so far, apparently due to the crisis.

RBI overhauls cooperative banks' old email based reporting system after PMC debacle

RBI has asked all cooperative banks to replace the existing system of email-based reporting.

Growth not my baby, says the RBI

So, if the RBI feels it is helpless to do anything much to boost growth, can nothing be done?

RBI Central Board discusses regulatory framework of co-op banks amid PMC Bank scam

The meeting of the central board, held in Chandigarh, came a day after Finance Minister Nirmala Sitharaman announced setting up of a panel to recommend legislative changes to ensure better governance at cooperative banks.

RBI allows rupee derivatives in IFSC

The central bank also allowed rupee derivatives (with settlement in foreign currency) to be traded in International Financial Services Centres (IFSCs).

RBI not looking at liquidity facility for NBFCs: Dy Guv N S Vishwanathan

"Reserve Bank's position is that there is adequate liquidity in the system", said RBI deputy Governor N. S. Vishwanathan.

Scam-hit HDIL appoints Knight Frank to value 40 land assets

While the principal loan on these assets is around Rs 2,200 crore, PMC Bank has been accused of fraudulently extending Rs 4,500 crore to HDIL on the back of security of these properties. Knight Frank will have to submit its report in 7-10 days.

Indiabulls Housing slides 19% after RBI move; Analysts expect it to stay volatile

Analysts said while the company has attempted to talk up sentiment, investors are cautious.

No charges on digital payments made to large biz establishments from Nov 1

FM Nirmala Sitharaman had said business establishments with annual turnover of more than 50 crore should offer low cost digital modes of payment to their customers and the RBI and banks should absorb cost of transactions.

India-bound FDI may face thorough frisking

The Department for Promotion of Industry and Internal Trade (DPIIT), the finance ministry’s department of revenue and the home ministry are holding discussions on the matter, with plans for heightened oversight in the works.

ED arrests HDIL promoters on money laundering charges

HDIL promoters Rakesh and Sarang Wadhawan were arrested on Friday after PMLA court sent them to Enforcement Directorate custody till October 22. The Economic Offence Wing tracked the prima facie execution of illegal transactions by the said persons.

RBI asks state level bankers to expand digital payments ecosystem

This will include providing the necessary infrastructure and literacy to handle such transactions, it said.

Prime Minister's National Relief Fund should be used to help ailing PMC depositors: Manmohan Singh

Manmohan Singh suggested use of Prime Minister's National Relief Fund for PMC depositors who need funds for urgent medical treatment. He said that the issue of protecting depositors should figure in the coming parliament session.

Personal finance takeaways from RBI's monetary policy

For the fifth consecutive time this calendar year, the Reserve Bank of India (RBI) slashed the repo rate by 25 bps and the reverse repo by 25 bps. This cut is sweeter for new borrowers as banks are supposed to link all new floating rate loans to any of the four external benchmarks specified by the RBI from October 1. Tune in as ET Online's Shambhavi Mehrotra brings you personal finance takeaways from the central bank's October monetary policy.Personal finance takeaways from RBI's monetary policy

‘Banks can’t recover money lost in fraud from customer’

As per SARFAESI Act, a bank can decide the liability and does not have to approach a court or tribunal to enforce any security interest created in its favour.

RBI does away with single-use plastic products

In the Independence Day speech, Prime Minister Narendra Modi had called for an end to single-use plastic to protect the environment.

Goldman Sachs says present economic crisis bigger than that of 2008 as slump more protracted

The comment comes amid growth slowing down to a six- year low of 5 per cent in the June quarter, which has been followed by a rash of downward revision in growth estimates.

FM Nirmala Sitharaman on PMC Bank scam: RBI taking action, assures depositors speedy resolution

Finance Minister Nirmala Sitharaman addressing a press conference on Thursday assured depositors of crisis-hit Punjab and Maharashtra Co-operative Bank of speedy resolution as the RBI is looking into the matter and will take appropriate action as needed.FM Nirmala Sitharaman on PMC Bank scam: RBI taking action, assures depositors speedy resolution

Debt mutual fund managers react to RBI policy

The repo rate now stands at 5.15 per cent, the lowest since March 2010.

Merger process will not go ahead with LVB post RBI rejection: Ajit Kumar Mittal, Indiabulls Group

Merger with Lakshmi Vilas Bank was one of the possibility that co explored. We are okay with RBI's decision on the merger, says Ajit Kumar Mittal, ED, Indiabulls Group. Excerpts from an interview with ETNOW.Merger process will not go ahead with LVB post RBI rejection: Ajit Kumar Mittal, Indiabulls Group

RBI increases income & loan limits for NBFC-MFI

In the wake of the Andhra Pradesh micro finance crisis in 2010, a Sub-Committee of the Central Board of the Reserve Bank was constituted to study issues in the MFI sector.

RBI right to reject Indiabulls-Lakshmi Vilas Bank merger plan: Anil Singhvi, Ican

RBI should now do its inspections in a much greater detail than what they have done in the past.

IB Housing Finance, LVB hit 52-week lows as RBI says no to merger

Indiabulls Housing Finance stock dipped as much as 20 per cent to Rs 192.65.

The week that was in 10 stocks: IRCTC's dream rally, RIL’s new feat, TaMo's Brexit cheer & more

IRCTC rallied 143.5 per cent for the week to close at Rs 779.20

For no fault of theirs, PMC depositors may be in default

Depositors could be tagged as defaulters if they fail to make repayments on loans.

RBI set to cut rates. Question is by how much?

RBI has lowered borrowing costs to a nine-year low of 5.4% through 110 basis points easing so far in 2019.

RBI may again slash rates in December, says Goldman

RBI's Monetary Policy Committee (MPC) reduced repo rate by 25 bps to 5.15% on Friday.

Sebi rejigs primary market advisory panel

PMAC panel also has representatives from Sebi, RBI and finance and corporate affairs ministries.

SC to hear on Friday plea seeking interim protective measures for insuring PMC Bank customers

The petition has sought a direction for issuance of "exhaustive and comprehensive guideline" to safeguard the banking and co-operative deposits to mitigate panic and distress among the depositors in the scam-hit PMC Bank.

RBI study: Over 50% of Indians feel job scene is getting worse

On the overall economic situation, almost half (47.9%) of the households surveyed felt it had worsened.

RBI says no to Maha Bank proposal on setting off Rs 7,360 cr losses

Bank of Maharashtra shares closed 2 per cent down at Rs 10.80 on BSE. KPM MR.

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