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Hidden NPAs bigger threat than declared ones; kudos to Rajan for calling a spade a spade

Jul 29, 2015 at 14:38 | Source: FirstPost

Reserve Bank of India (RBI) governor Raghuram Rajan has repeatedly cautioned banks about their penchant to hide non-performing assets (NPAs). The former International Monetary Fund chief economist has strongly warned that postponing the problem isnt ...

Draft financial code: By undermining RBIs independence, govt is playing with fire

Jul 25, 2015 at 08:15 | Source: FirstPost

If indeed the second draft of the Indian Financial Code, released on Thursday for public comments, is implemented in its entirety, Reserve Bank of India (RBI) governor will have no veto power in the proposed seven-member Monetary Policy Committee (MP...

Draft financial code: By undermining RBIs independence, govt's playing with fire

Jul 24, 2015 at 22:56 | Source: FirstPost

If indeed the second draft of the Indian Financial Code, released on Thursday for public comments, is implemented in its entirety, Reserve Bank of India (RBI) governor will have no veto power in the proposed seven-member Monetary Policy Committee (MP...

IDFC receives RBI approval for starting banking operation; plans to function from Oct 1

Jul 24, 2015 at 12:45 | Source: FirstPost

New Delhi: Infrastructure financing firm IDFC Ltd today said the Reserve Bank of India (RBI) has granted banking licence to IDFC Bank for undertaking banking business in the country."The RBI on July 23, 2015 has granted Banking Licence to IDFC B...

Gold free fall wipes out 44% of the value of Indias gold reserves

Jul 23, 2015 at 10:59 | Source: FirstPost

The nose-diving gold prices globally should worry everyone who owns the yellow metal considering it as a safe investment asset, especially when reports doing rounds that the value of gold is unlikely to recover fast. A strong US dollar and likely inc...

Railways woo banking, financial institutions with big ticket projects

Jul 22, 2015 at 22:55 | Source: FirstPost

New Delhi: Wooing the banking and financial sector, Railway Minister Suresh Prabhu has rolled out ambitious investment plan of Rs 8.5 lakh crore in the coming five years in the public transporter.Referring to the 2015-16 Railway Budget, Prabhu said t...

Govt extends interest subvention but it's a flawed solution for farm woes

Jul 22, 2015 at 14:17 | Source: FirstPost

On Tuesday, the union cabinet approved the extension of the interest rate subvention on farm loans for 2015-16. A practice that is religiously followed every year, the scheme offers short-term crop loans to small and marginal farmers at 7 percent. Th...

Interest subvention won't end farmer woes; govt must rethink funding model

Jul 22, 2015 at 13:42 | Source: FirstPost

On Tuesday, the union cabinet approved the extension of the interest rate subvention on farm loans for 2015-16. A practice that is religiously followed every year, the scheme offers short-term crop loans to small and marginal farmers at 7 percent. Th...

With drought looming, political pressure builds up on banks to increase farm lending

Jul 17, 2015 at 18:06 | Source: FirstPost

The Reserve Bank of India (RBI) has effectively taken a U-turn on its bank lending policy to farmers, when it asked banks on Thursday to comply with the direct lending target of 13.5 percent total loans to the sector.In April, while revising the prio...

Now local bus operators too can issue pre-paid cards to travellers

Jul 10, 2015 at 07:49 | Source: FirstPost

The Reserve Bank of India (RBI) on Thursday introduced a new type of pre-paid instrument of up to Rs 2,000 for "Mass Transit System" to facilitate migration from cash-based payments to electronic ones."The Pre-paid Payment Instruments ...

Preview: June inflation nudges up, May factory growth rate steady| Reuters

Jul 10, 2015 at 03:45 | Source: FirstPost

BENGALURU Indian data to be released in coming days is likely to show consumer price inflation nudged up slightly in June and factory output growth little changed in May, pointing to a gradual improvement in industry, according to a Reuters poll.The ...

RBI issues Rs 100 notes with new numbering pattern

Jul 09, 2015 at 23:10 | Source: FirstPost

Chandigarh: Reserve Bank of India (RBI) on Wednesdaysaid it has issued Rs 100 denomination banknotes in theMahatma Gandhi Series-2005 with a new numbering pattern."Now, the numerals in both the number panels of these banknotes will be in ascendi...

India to beat China again as fastest-growing in 2016: IMF

Jul 09, 2015 at 20:56 | Source: FirstPost

Washington: India will be the world's fastest growing economy for the second consecutive year in 2016 at 7.5 percent, IMF today said, even as it lowered its current year global economy growth forecast to 3.3 percent.In its World Economic Outlook Upda...

Loan recast boost: Bhushan Steel stock hits 20% upper circuit in lacklustre market

Jul 09, 2015 at 11:37 | Source: FirstPost

Shares of debt-laden Bhushan Steel was frozen at the upper limit of 20 percent in early trade Thursday, after the company post-market hours Wednesday received lenders' approval for long-term restructuring of about Rs 30,000 crore loans under a scheme...

Govt ready to alter cap on foreigners' debt holdings - official | Reuters

Jul 09, 2015 at 02:15 | Source: FirstPost

NEW DELHI/MUMBAI The government has no objection to setting the limit for foreign investment in debt markets in rupees instead of dollars, a senior finance ministry official said, a move that would effectively allow increased purchases from overseas....

Guard against liquidity: India to contribute $18 bn to BRICS forex reserves pool

Jul 08, 2015 at 17:28 | Source: FirstPost

Moscow: India will contribute $18 billion to the $100 billion foreign-exchange reserves pool that is being set up by five nations of the BRICS grouping to help each other "in case of any problems with dollar liquidity".Brazil, Russia, India...

Worrying signs: The end game in Indian real estate might just have started

Jul 08, 2015 at 15:54 | Source: FirstPost

The Reserve Bank of India puts out the sectoral deployment of credit data every month. This data gives details about which sectors are banks lending money to. As per the latest data released, the overall lending by banks grew by 8.5 percent during a ...

Maharashtra clamp down: Govts should remember public banks are not milch cows

Jul 07, 2015 at 22:28 | Source: FirstPost

Indias public sector banks (PSBs) are perfect examples of conflict of interest that happens when publicly listed, commercially run lending institutions are micromanaged by their majority shareholder - the government. This happens when the government ...

FDI in manufacturing of tobacco products prohibited: Reserve Bank of India

Jul 03, 2015 at 22:17 | Source: FirstPost

Mumbai: Reserve Bank on Friday said the ForeignDirect Investment (FDI) in manufacturing of tobacoo productsis prohibited, though activities such as retail and wholesaletrading fall under the sectoral restrictions.Foreign direct investment (FDI) is pr...

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