BUSINESS
Banking Central | BharatPe must put its house in order
Alleged corporate governance issues, infighting and mud-slinging in public do not augur well for BharatPe which is a part of the PMC Bank rescue mission.
BUSINESS
Deep rot: Why the RBI finally pulled the plug on Cashbean
The outfit operated in violation of various RBI norms. There was also a Chinese ownership angle, which triggered ED action. But Cashbean’s case isn’t an isolated incident.
BUSINESS
RBI cancels Certificate of Registration of Delhi-based app-based lender PC Financial Services
The CoR of the company has been cancelled on account of supervisory concerns such as gross violations of RBI directions on outsourcing and Know Your Customer norms, the central bank said.
BUSINESS
Analysis | RBI’s concerns reflect in latest ASCI curbs on crypto advertisements
The banking regulator has been cautioning investors about the unregulated cryptomarket. The ASCI curbs follows a recent call from a top central bank official to ban cryptocurrencies in India.
BUSINESS
BharatPe Row: Chairman Rajnish Kumar says Ashneer Grover trying to prove governance review is biased, should have shown maturity
Rajnish Kumar, former head of SBI, said Ashneer Grover letter won't have any impact on company and board is aligned to action
BUSINESS
Banking Central | Digital frauds — where does the buck stop?
While there is an aggressive push towards digital transactions, the rising number of frauds such as the Dhani episode last week raises critical questions about the safety of these channels.
BUSINESS
Explainer| How Dhani fake loan episode exposes big holes in digital lending
Digital lending platforms or Fintech platforms have always faced the challenge arising from frauds. Dhani Episode is another strong reminder.
BUSINESS
RBI cancels licence of Mantha Urban Cooperative Bank
The bank with its present financial position would be unable to pay its present depositors in full and public interest would be adversely affected if the bank is allowed to carry on its banking business any further, the RBI said.
BUSINESS
Zombie firms absorbed 10% of total bank credit extended to all companies: RBI Bulletin
The RBI publishes bulletin every month capturing the trends in the economy and the financial sector.
BUSINESS
Criminal conspiracy, cheating, breach of trust and all that went wrong with ABG Shipyard
Once a famed private shipbuilder in the country, ABG Shipyard fell from grace due to bad market and financial irregularities.
BUSINESS
Banning cryptocurrency the most advisable choice open to India, says RBI Deputy Governor
The comments are significant in the context of an ongoing debate whether to ban crypto currencies or not.
BUSINESS
Banking Central | Tulips or crypto—who wants to make a quick buck?
The RBI Governor has repeated his warning on cryptocurrencies last week and investors will ignore the message at their own peril
BUSINESS
RBI Monetary Policy Committee continues to be a divided house on rate stance
Jayanth Varma continues to be the lone dissenter in MPC. This isn’t the first time Varma has dissented on the rate stance
BUSINESS
RBI Monetary Policy | Governor Das’ tulip warning on crypto has a message for government
“They (investors) should keep in mind that these cryptocurrencies have no underlying (asset). Not even a tulip,” Das has said
BUSINESS
Explained | Shaktikanta Das presents a non-event policy for markets, plays waiting game
By opting for the status quo, the MPC has chosen the waiting game for more cues to go aggressive on the policy normalisation process. For now, growth remains the focus.
BUSINESS
RBI Policy: MPC retains key rates unchanged, no change in policy stance
The MPC indicated that it will wait for more macroeconomic signals before tinkering with key rates or rate stance.
BUSINESS
Explained | Accommodative, neutral and hawkish stances in RBI monetary policy
The rate-setting panel indicates its broader policy approach by guiding the markets with policy stances. Let's try to understand what are those terms and what do each of these stances convey.
BUSINESS
Explainer | MPC decision today. What are the likely scenarios? 10 key questions answered
A change in the Reserve Bank of India’s stance will be seen as the first step towards a possible increase in interest rates. There may be a hint of the timing of such action in the policy document. Hence, the tone of the policy language is important.
BUSINESS
Banking Central | A case for ‘neutral’ stance
The central bank has already initiated policy normalisation by limiting its bond purchases through securities acquisition programme. While a repo rate hike is unlikely this time, a change in monetary stance is very much expected.
BUSINESS
BharatPe-Ashneer Grover row | There will be corrective action depending on outcome of audit report: Chairman Rajnish Kumar
BharatPe is embroiled in a controversy with a leaked audit inspection report by Alvarez and Marsal suggesting major irregularities in its operations.
BUSINESS
Exclusive | RBI examining corporate governance angle in BharatPe-Ashneer Grover episode
If the regulator finds material violation of corporate governance standards at BharatPe, it could even stop the Unity SFB-PMC Bank merger, said Ashvin Parekh of Ashvin Parekh Advisory Services
BUSINESS
Explained | Why amendment to cross-border IBC rules is important
Presently, while foreign creditors can make claims against a domestic company, the IBC currently does not allow for automatic recognition of any insolvency proceedings in other countries.
BUSINESS
Explained: What is Digital Rupee, when will it come and how’s it different from private cryptocurrencies? 10 critical questions answered
A CBDC is not a crypto currency. It is the digital form of legal tender and private virtual currencies are entirely different. Private virtual currencies are at substantial odds with the historical concept of money.
BUSINESS
Black money: Budget 2022 deals another blow to tax cheats but implementation key
Unexplained borrowings come under the scrutiny of the taxman and will be added to income.
