Corporate world lives on debt. The moment the oxygen is out, there is a massive hit, he says.
The panel wants additional Rs 5,000 crore to support distressed small companies affected because of external factors, such as a change in environmental laws.
Committee says Psbloansin59minutes should cater to new entrepreneurs, including those applying for loans under the Pradhan Mantri Mudra Loan Yojana and Stand-Up India.
Banks have been reluctant to lend to NBFCs, forcing some of them look overseas for borrowings.
Keeping liquidity “in deficit” is easier said than done.
The World Bank's private-sector lending arm and the largest global development institution focused extensively on the Indian NBFC sector to soothe nerves in the aftermath of the IL&FS crisis.
Banks are factoring in a high risk premium while lending to NBFCs
Buy Axis Bank Ltd. at a price target of Rs 805.0 and a stoploss at Rs 765 from entry point.
There's a realisation in the RBI that its liquidity framework needs a revamp, so there comes a new panel. ET explains why the time has come to effect a change.
MSMEs in services have increased in number and range of activities.
Here's what might matter on Dalal Street all through the day.
Aadhar Housing Finance said its cost of funds has risen 70 bps since October 2018, even after factoring in 5-10 bps reduction in banks’ MCLR.
The rupee has depreciated from Rs 60.50 to a dollar in 2013-14 to Rs 69.74 to a dollar in April-December of 2018-19.
The panel recommended a government-sponsored FoF to support Venture Capitalists or PE firms investing in the MSME sector.
On the resignation of Acharya, Chazhikadan said a number of renowned economists have resigned as government policies were not in favour of the people of India.
CMS envisages improved customer convenience by providing a single window.
Acharya, the youngest ever deputy governor, resigned from his position a few weeks back citing "unavoidable personal circumstances".
With the launch of CMS, the processing of complaints received in the offices of Ombudsman and CEPCs of the Reserve Bank has been digitalized.
The government will make a final choice in consultation with the governor.
The money will come in over three years and is most likely used for regular government spending.
Market players would be heading back to the drawing boards to re-work the budget math.
Jalan committee will soon submit its recommendations on economic capital framework.
In a surprise move, Acharya has resigned from his position at the central bank merely six months ahead of the scheduled end of his three-year term, citing personal reasons.
Ex-NYU professor has always been vocal about RBI's autonomy, bank cleanup.
Investments in US Treasuries were at $155.3 billion in April, compared with $157 billion in March a year ago.
In his resignation, he expressed inability to continue beyond July 23, 2019, the RBI said.
Customers can lodge complaints against any regulated entity with public interface such as commercial banks, urban cooperative banks, NBFCs.
Viral Acharya who had made a fervent pitch for autonomy for the banking regulator, has reportedly quit six months before the scheduled end of his term. Acharya, who joined the central bank on January 23, 2017, was RBI's youngest deputy governor post economic liberalisation. Saloni Shukla has more. (Text: ET Online)Viral Acharya quits RBI: All you need to know
The Reserve Bank of India (RBI) panel deciding on norms for transfer of the central bank's surplus funds to the government has further delayed submitting its report, an official said on Monday. As the differences continue among the RBI Economic Framework Capital (ECF) panel members over the distribution of the central bank's surplus reserves, the Bimal Jalan led-committee has sought more time to submit its report, the official source said.Consensus eludes Jalan panel on RBI surplus, report delayed
Earlier, the government of Prime Minister Narendra Modi indicated that the RBI has excess reserves of more than 3 trillion rupees ($43.22 billion), or 30% of total reserves of around 10 trillion rupees.
The youngest deputy governor of the Indian central bank will return to New York University Stern School of Business in August.
Implied yields surged to 2-year high even after RBI cut rates.
CSO needs to make available all the assumptions and judgement it has used in its nominal GDP calculations.
ECF panel was mandated to submit its report to RBI within 90 days of its first meeting on Jan 8.
NBFC want the RBI to relax the timeline to implement the minimum LCR norms by a year.
NBFCs have been borrowing short-term to finance long-term projects and rolling over debt.
Housing sector needs a boost as it creates maximum number of jobs, says HDFC CEO.
Since 2016, loans worth Rs 17 lakh crore have been identified as NPAs (nonperforming assets) with 80 per cent of these loans held by public sector banks.
Acharya, who had cautioned against chipping away at the central bank's autonomy last year, quit abruptly.
The small savings rates may be revised downwards at the reset date post June 30 as not only has the RBI cut the repo rate but also the 10-year G sec yield has declined.
At the margin, the composition of the MPC will likely become incrementally more dovish.
Viral Acharya who had made a fervent pitch for autonomy for the regulator, has reportedly quit six months before the scheduled end of his term. Acharya, who joined the central bank on January 23, 2017, was RBI's youngest deputy governor post economic liberalisation. ET has independently confirmed that Acharya has quit and would be heading to the New York University to teach. Viral Acharya resigns as RBI's deputy governor 6 months before his term ends
Former governor has to tackle tricky questions and possible differences among panel members to figure out if the central bank has capital to spare.
ET has confirmed that Acharya has quit and would be heading to the New York University to teach.
Banks and select financial institutions reported to RBI that frauds of Rs 1 lakh and above amounting to Rs 25,884 crore occurred during 2016-17 .
Govt said the notes in circulation had grown at an average growth rate of 14.51 per cent year on year wise since October 2014.
The RBI has set a goal of 44% PoS-based debit card transactions by 2021 to achieve less-cash economy.
ATM transactions were just 66 per cent of total debit card use in April.
The yield of the benchmark 10-year bond fell to a 20-month low in June.
Nifty futures on the Singapore Exchange were trading 17.50 points, or 0.15 per cent.
Viral Acharya has voted for rate cuts only twice in 15 monetary policy reviews.
Buy Bank of Baroda at a price target of Rs 128.0 and a stoploss at Rs 114 from entry point.
“The fact that Acharya stayed on for so long after Patel’s resignation was surprising.”
As a member of the Central Board of Directors of RBI and the Monetary Policy Committee, Acharya brought credibility to his job that entails a command over finance.
Our faith is in areas that we are in — renewables, roads refinance and transmission, says L&T Fin MD.
The six-member Monetary Policy Committee was divided in its view of fiscal slippage and its impact on inflation trajectory.
At 9:30 am, the BSE Sensex was trading 79 points, or 0.20 per cent, higher at 39,273.
Cuts of 0.50 per cent to narrow the real interest rate.
BSR said the investigators had made false allegations against the auditors without understanding accounting principles and regulations.
The government is the most active stakeholder in the transformation.
Foreign brokerage UBS says any booster should help the government retire public debt.
ICICI Bank or Axis Bank could be the next leaders, says Carnelian Capital founder.
RBI said banks may charge their retail customers a pre-agreed flat fee towards administrative expenses.
MPC members are concerned about India’s economic growth, inflation and global trade war.
The council has also urged the government to allow EMI purchases of jewellery, which the RBI currently does not allow, as gold is declared an asset class.
The market has been on the slide with the Sensex gaining just 0.8 per cent since May 23.
"The committee held its deliberations including consultations with various stakeholders and has submitted its report to the governor," RBI had said in a statement Tuesday.
Deputy governor Kanungo assures industry while saying data generated in India has to be localised.
Rupee opened at 69.58 at the interbank forex market, unchanged from its previous closing level.
Since a year or so, most banks have been refusing to collect the huge quantity of coins on grounds of lack of storage space, difficulty in counting, transporting and putting them back into public circulation.
The penalty follows references from a government department and a private party alleging non-payment of invoked bank guarantees by the lender.
Let us check out the factors that have the potential to move markets all through Monday.
Infra spending would be a bigger thrust rather than any tax sops, says MOSL's Rahul Shah.
Acharya follows Raghuram Rajan and Urjit Patel, who left the central bank after advocating strong measures.
After opening on a weak note, rupee recovered and finally settled 23 paise higher at 69.35.
Paytm Postpaid is a credit offering through which customers can buy goods and services and make settlements later, similar to how credit cards and other Pay Later products work.
Among banks, corporate lenders to MSMEs and PSU banks Dewan’s favourites
The fine pertains to submission of forged bill of entries (BoEs) by certain importers to HDFC Bank for remittance of foreign currency
RBI would purchase five government bonds under open market operations (OMOs) on June 20.
Goyal's budget had proposed tax breaks for the middle class, besides a host of sops for farmers and millions of informal sector workers.
Around 41% of the respondents in the survey covering over 300 manufacturing units expect higher production during the June quarter - a 13% drop since the March-quarter.
RBI last year mandated companies to store their payments data "only in India" so that the regulator could have "unfettered supervisory access".
The local currency on Friday slid 14 paise to close at 69.58 against the US dollar.
Buy State Bank of India at a price target of Rs 360.0 and a stoploss at Rs 342 from entry point.
Buy State Bank of India at a price target of Rs 362.0 and a stoploss at Rs 343 from entry point.
Libra falls under the category of virtual currency called ‘stable coin’.
The panel has been entrusted with the task of reviewing the best practices followed by central banks worldwide in making assessment and provisions for risks.
It is important to time the loan refinancing in such a way that saving on interest payable is maximised.
The Reserve Bank of India (RBI) cut the repo rate to 5.75% on June 6, its third cut in 2019.
RBI will not hesitate to take any required steps to maintain financial stability, Das said.
Monsoon continued to remain a concern as rains lashed Mumbai and neighbouring areas.
Mishra has been serving RBI for about 30 years now. He has been associated with many research papers.
World needs to get out of the dollar’s stranglehold and cryptocurrencies could play a big role in that.
But this discount was more of a B2B phenomenon, rather than B2C, said sources in Zaveri Bazaar.
FICCI’s Secretary Dilip Chenoy has said that the new framework very aptly balances the interest of all stakeholders in the eco-system.
NCLT has dispensed with requirement of the meeting .
Modi on Saturday had an interaction with economists and industry experts on India's current economic situation.
Central bank has issued instructions aimed at mitigating risks in ATM ops and enhancing security.
The firm has made representations to the RBI about the unfairness of such a ban and sought a relaxation of its stance, one of the people cited above said.
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