BUSINESS
Tokenisation: Banks warn RBI of ‘chaos’ as small merchants are not ready for the shift
The RBI has been consulting with banks and other stakeholders on the shift. Lenders are worried that with the entire system shifting to tokenisation in one go, there will be massive disruptions across online payments platforms during the new year.
BUSINESS
Banking Central | Severe Omicron wave can upset bad loan math
It’s too early to say. There’s no clarity yet. But a severe wave could impact the growth and asset quality of Indian banks.
BUSINESS
Rupee fall: How does the depreciation in rupee impact you?
A falling Rupee isn’t just a macroeconomic phenomenon. It has immediate cascading impact on day-to-day life and domestic prices.
BUSINESS
Explainer | New PCA rules for NBFCs suggest RBI has learned its lessons from IL&FS, DHFL episodes
NBFCs are set to enter an era of tight regulations with the central bank laying out the framework for prompt corrective action. What are the new rules and why now? Here’s an explainer.
BUSINESS
Jignesh Shah’s 63 Moons wants to ride the crypto wave but won’t start an exchange
TickerPlant was a wholly-owned subsidiary of 63 moons. Recently, 63 moons diluted its stake in TickerPlant to approximately 77.5 percent stake. Jignesh Shah had earlier launched Multi Commodity Exchange of India (MCX) in 2003.
BUSINESS
Budget 2022: Can FM Sitharaman push PSB privatisation agenda?
Privatising public sector banks has long been in the works but the government has only managed to merge many such entities. The budget may lay out a roadmap on privatisation but strong trade union protests will be a challenge.
BUSINESS
Banking Central | Why Shaktikanta Das is right in cautioning depositors chasing high returns
While regulatory lapses, criminal intent and financial mismanagement all play a role in banking crises, the common factor is the ‘greed’ of depositors.
BUSINESS
Analysis| Omicron uncertainty puts Das & Co in slow gear; back to the waiting game
Omicron has forced the MPC to go slow on the projected path of policy normalisation. Between now and the February review, the evolution of the variant's trajectory will decide the course of policy normalisation.
BUSINESS
Cyber security, digital frauds major challenges in rolling out digital currency, says RBI deputy governor
The comment comes at a time when the government is working on a law to regulate cryptocurrencies and there is a debate around CBDC and its possible impact on the Indian economy
BUSINESS
RBI to work on PMC Bank resolution 'very quickly', says Governor Shaktikanta Das
Stakeholders have time till December 10 to respond to RBI’s draft scheme for the amalgamation of PMC Bank and Unity Small Finance Bank
BUSINESS
RBI Monetary Policy: MPC keeps repo rate unchanged; stance accommodative
The rate-setting panel has maintained key lending rates for the ninth consecutive policy meeting
BUSINESS
Banking Central | Omicron emerges as new cause for concern for MPC
The central bank may continue the process of policy normalisation in some manner but will likely refrain from any rate actions, particularly in the context of rising uncertainty from the Omicron spread.
BUSINESS
Back-to-back senior-level exits continue to haunt Dhanlaxmi Bank
While personal reasons have been cited for the departure of top executives, disputes between some board members and investors could have played a crucial role, according to insiders.
BUSINESS
How cryptocurrency has already divided top Indian policymakers
The RBI has been opposing cryptocurrency saying it poses threats to macroeconomic stability, the prime minister has warned youngsters off it, but there are influential voices supporting its existence.
BUSINESS
Spandana Sphoorty founder-board battle intensifies as Reddy questions long list of consultants, collection efficiency figures
Earlier in an interview with Moneycontrol, Reddy had said she was forced to quit after differences on the valuation at which the majority investor wanted to sell the firm to Axis Bank. Reddy also said she didn’t have any plan to return to the company.
BUSINESS
Explainer| Why Kerala is upset with the RBI on regulation of cooperative banks
The banking regulator has been tightening rules on such lenders. It has cancelled the permits of at least six cooperative banks and issued over 200 directives against wrongdoers. Now a fresh rule issued on cooperative societies has stirred a controversy.
BUSINESS
RBI wage settlement issue: Negotiations resume, resolution may happen soon
RBI staff wages are decided through a bipartite settlement once in five years through negotiations between management and employee unions. The current round of wage revision is pending since November 2017. The RBI has different unions for lower-level employees (mainly class 3 and 4 employees) and officers.
BUSINESS
Banking Central| Kotak & Hindujas all smiles with new RBI guidelines on promoters' stake
In the case of Kotak Mahindra Bank, the RBI has already agreed to hike Uday Kotak’s stake in the bank to 26% while in the case of Hindujas, the road is now clear to acquire additional stake.
BUSINESS
Analysis | No RBI red carpet for corporate houses to set up banks
An internal working group had recommended allowing corporates in the banking sector but the 'bombshell' proposal doesn't find a mention in the list of suggestions accepted by the RBI on November 26
BUSINESS
Exclusive Interview| I don’t think there is any value left in Spandana: Padmaja Reddy
Padmaja Reddy, founder and former managing director of microlending institution Spandana Sphoorty, resigned recently from the company after the board refused to renew her contract. With Reddy’s exit, an era is ending at Spandana.
BUSINESS
Exclusive | Spandana Sphoorty founder Padmaja Reddy to float new NBFC with former colleagues
The new NBFC will focus on secured loans. In early November, Padmaja Reddy quit Spandana saying she was not stepping down by choice but because the Board’ did not extend her contract.
BUSINESS
Analysis | An unfair wait for some PMC Bank depositors?
PMC Bank-Unity SFB draft amalgamation scheme suggests long wait for some depositors. Depositors will get their money back, but only over a period of time.
BUSINESS
Banking Central | A new start for digital lenders
Among the rules proposed by an RBI panel, the most critical is framing a separate law to prevent illegal digital lending
BUSINESS
Do not ignore Shaktikanta Das’ repeated warnings on crypto - here is why
The Reserve Bank of India governor Shaktikanta Das voiced his concern over cryptocurrencies, as he has on multiple occasions. Is this the RBI’s way of warning the government which is in the process of framing a crypto law?
