BUSINESS
Ahead of RBI central board meet, govt attempts to look at framework on capital
Economic capital framework refers to the capital required by the central bank while taking into account different risks.
BUSINESS
Bankers struggle to resolve power sector assets outside insolvency process
Bankers also await the Supreme Court verdict starting November 13 when it will hear a case filed by the power producers' association against the RBI's February 12 circular
BUSINESS
Jan Suraksha schemes see lower growth in new enrollments, auto-renewal keeps number constant
The slowdown has resulted in the Department of Financial Services stopping its weekly disclosure of enrollment data since April
TRENDS
Demonetisation- Two years on, digital payments on the rise but cash still king
Internet connectivity and data cost are no longer issues, trust in electronic systems and lack of accountability in digital systems is often cited as a hindrance to mass use.
BUSINESS
Portfolio buyout by banks may hurt business growth further, says NBFC body
Apart from liquidity issues, at present, the NBFC industry is also grappling with concerns around the recovery of cash flow in their business. Some banks have also withdrawn their already-sanctioned limits to curtail further financing due to fears of them defaulting.
BUSINESS
Former BoE Governor once said RBI-Govt relationship must be like 'Hindoo marriage'
Montagu Norman, Governor of the Bank of England, had said RBI has to be like a wife in a Hindu joint family, who advises but does exactly as she is told
BUSINESS
Banks are not Uncle Scrooge, they raise deposits to lend: RBI Deputy Governor Vishwanathan
Bank credit to NBFC sector, where there is a perception of inadequate bank credit flow, grew 17.1 percent YoY in H1 FY19 and 48.30 percent as on September 30
BUSINESS
Govt should back RBI but latter should communicate more: Experts
The fight between the two institutions became public on October 26 when RBI deputy governor Viral Acharya in a speech said the RBI’s autonomy was important.
BUSINESS
IL&FS board to seek 3-5 more months from NCLT to submit resolution plan
The board is now considering several options, including selling stake in the company and its subsidiaries to a financially strong investor
BUSINESS
Union Bank to buy Rs 5,000 crore mortgage-backed retail loans from NBFCs
Earlier this month, SBI said they have room to buy a total of Rs 45,000 crore, from Rs 20,000- Rs 30,000 crore more than the initial estimate of buying Rs 15,000 crore worth of portfolios
BUSINESS
NBFC liquidity crisis: Banks see room for growth
The rate hikes by banks also indicate that banks are getting comfortable in their pricing power as the liquidity crunch and tighter access to the bond market is weighing on the NBFCs.
BUSINESS
Ruias re-entry for Essar Steel seen as last resort to gain control, delay process
Essar Steel’s promoters Ruias offered to pay Rs 54,389 crore to the company's creditors. Lawyers see this as an attempt to delay an almost-done deal.
BUSINESS
Yes Bank says it 'is comfortable' despite Rs 2,620 cr loan exposure to IL&FS subsidiaries
The exposure is standard and at the lower SPVs, which are separate from the parent company, and not at the upper IL&&FS holding company levels.
BUSINESS
Bank of Baroda, Dena Bank and Vijaya Bank to appoint valuers for merger
Applications are being invited from chartered accountancy firms to value each bank and decide on the probable swap ratio.
BUSINESS
Kotak Bank temporarily suspends digital account opening platform 811
The incremental new customer accretion will get slower until the bank comes up with new solutions on Aadhaar usage
BUSINESS
RBL Bank chief hits back at Morgan Stanley for multiple rating revisions; says bank on solid turf
Ahuja said the basic variables such as CASA ratio, liquidity, cost of funds which recite that (downgrade) have all improved and hence there is no reasons to fear
BUSINESS
Yes Bank’s Madhu Kapur refuses to give up promoter rights, agrees to resolve dispute
Sources said a joint promoter holding proposal if agreed upon, will allow Kapoor to nominate himself or one of his affiliates on the board of Yes bank even after his exit as MD and CEO.
BUSINESS
IL&FS rights issue likely to be postponed to 2019
IL&FS board was taken over by six new members appointed by the government on October 1. Sources told Moneycontrol the immediate priority of the new board is to look at the sale of core assets to raise money.
BUSINESS
NBFCs face tougher times to meet short term repayments in coming months
While most heads of NBFCs do not see a crisis situation as yet, limited access to capital will see short-term pain to meet repayments on debt maturities in November and December.
BUSINESS
NBFCs must improve credit quality and reduce risks, say experts
Investors have punished the finance sector with a nearly 10 percent fall in the BSE stock market over the past one month
BUSINESS
ArcelorMittal emerges as highest bidder for Essar Steel; lenders to get Rs 42,000 cr
The Lakshmi Mittal-owned steel major's offer includes equity capital of Rs 8,000 crore into Essar Steel
BUSINESS
RBI rejects idea of independent payments regulator, moots internal board
A government committee in a draft report suggested setting up an independent Payments Regulatory Board.
BUSINESS
RBI not obliged to hike rates in every policy, says Governor Urjit Patel
On October 5, the six-member MPC decided to keep key policy interest rate or repo rate unchanged at 6.50 percent
BUSINESS
Google, WhatsApp's entry into digital payments to intensify competition for locals
However, most experts believe that competition between local and foreign players will benefit Indian users
