BUSINESS
Easing retail inflation validates MPC stance, what next?
In the August policy review, the MPC had said that the high inflation of recent months was transitory, while RBI hiked the CPI inflation estimate for the fiscal year 2022 to 5.7% from 5.1%
BUSINESS
Why Rs 5 lakh DICGC cover isn't enough to bridge a widening trust deficit among depositors
According to the government, with the latest amendment to the DICGC Bill, the deposit insurance coverage in India has gone up to 98.3 percent and covered deposit value has risen to 50.9 percent against the comparative numbers globally—80 percent and 20-30 percent respectively.
BUSINESS
Yes Bank plans to set up asset reconstruction company, invites EoI for partnership
Ernst & Young has been appointed as the process advisor to the bank for the project.
BUSINESS
RBI lobs Olympics gold medalist Neeraj Chopra into new fraud awareness campaign
After Neeraj Chopra, the RBI plans to rope in more Olympians including Bajrang Punia and others for its campaign.
BUSINESS
PNB Housing Finance Vs SEBI: What next on the Carlyle deal?
Earlier, SEBI had directed PNBHFL to halt the proposed deal until the company undertakes a fresh valuation from an independent valuer. Later, the SAT allowed the company to conduct the AGM but asked it to not announce the results of the AGM till a final order. SAT's order is pending in this case.
BUSINESS
Sa-Dhan proposes Rs 2 lakh income limit for both rural, urban households under MFI regulations
The Reserve Bank of India on June 14 released a consultative document on uniform regulation for companies engaged in microfinance business
BUSINESS
Banking Central | How long can MPC ignore inflation and remain 'accommodative'
The divided vote indicates that MPC may not continue with the stance for too long and if inflation continues to surprise on the upside, the change may be coming sooner than expected
BUSINESS
Jayanth Varma continues to be the lone dissenting voice in RBI’s MPC
Varma continues to question the relevance of the MPC forward guidance.
BUSINESS
Exclusive| Vodafone Idea: Believe Govt will work out some way to deal with the situation, says IDFC First's Vaidyanathan
"We hope it doesn’t go that way for the sake of the country and its citizens, but as a Bank if it were to go that way, we are already prepared," Vaidyanathan said.
BUSINESS
RBI likely to revise inflation estimate upward to 5.5%, says BoB Chief Economist Sameer Narang
The driver of economic recovery this year will be exports and government spending, says Narang. Domestic consumption will pick up with a lag once the vaccination rate increases; GDP growth is expected at 9.7 percent in FY22, he says
BUSINESS
Vodafone Idea: How will banks get impacted in the event of a default?
Larger banks may not have to worry much because as a percentage of their books, the exposure is not very high. Also, most banks had started preparing for the potential default by providing for likely losses from VI.
BUSINESS
Analysis | SBI gives no negative surprises in Q1
SBI has logged steady numbers in Q1 in a tough market. Slippages remained high but that is largely in line with the industry trend.
BUSINESS
RBI monetary policy announcement today at 10 am: Will MPC revise interest rates, inflation target?
RBI Monetary Policy: The MPC will most likely retain status quo on interest rates in this round. But watch out for the inflation forecast.
BUSINESS
PNB never objected to housing finance arm’s deal with Carlyle, only asked it to follow SEBI directions: MD & CEO
CS Mallikarjuna Rao says the bank will follow whatever directions are issued by the appellate tribunal. In an announcement on May 31, PNBHFL had said that Carlyle Group, its affiliates, existing investors, and Puri’s family investment vehicle will invest up to Rs 4,000 crore in the housing finance firm.
BUSINESS
Banking Central | The curious case of Videocon insolvency
The insolvency and bankruptcy code was designed to ensure a meaningful recovery for banks in a time-bound manner and give a graceful exit to promoters but some recent cases have exposed loopholes that allow former promoters to get back control of their businesses
BUSINESS
Over 100 RBI directives on co-operative banks so far in 2021, three licences cancelled; how deep is the mess?
According to senior industry officials and bankers, the high alertness from the central bank, the increased scrutiny and a raft of rule changes are a result of rising number of institutional failures in the co-operative banking industry.
BUSINESS
Kotak Mahindra Bank will not shy away from taking 'bolder bets', says Uday Kotak
During the year, the bank has undertaken a mindset shift to make retail and commercial lending focus, in addition to the corporate and deposit franchise, the veteran banker said in his message at the 2020-21 annual report.
BUSINESS
Exclusive | Lower regulatory costs helped NBFCs scale up over the last decade, says IIFL's Nirmal Jain
The reform progress on some of the sectors like agriculture, power, logistics etc. continues to lag the overall reform momentum. This is partly because these reform measures need a broader Centre-State consensus, the Founder of IIFL Group said.
BUSINESS
Yes Bank, Indiabulls ink pact for co-lending:10 Key questions answered
It was in November last year, the Reserve Bank of India came up with guidelines on co-origination of loans or co-lending of loans under which banks and NBFCs (non-banking finance companies) can lend to priority sector or economically weaker sections. The idea is to encourage credit flow to this segment.
BUSINESS
Explainer | Why a higher insurance cover is big deal for smaller depositors
The government's decision to make available deposit insurance within 90 days is big news for smaller depositors across banks. A series of bank failures and imposition of moratorium by the Reserve Bank of India had resulted in a widening trust deficit among depositors.
BUSINESS
PMC Bank scam case: Rakesh Wadhawan's bail plea denied
Rakesh Wadhawan was arrested in October, 2019, along with Sarang Wadhwan in connection with the irregularities submitted in the Punjab and Maharashtra Co-operative (PMC) Bank case.
BUSINESS
Can a bankrupt Vijay Mallya still live as a baron?
Legal experts have mixed opinions over what the tag of bankruptcy granted by a UK court means for Vijay Mallya.
BUSINESS
Analysis | NPA woes continue for banks, NBFCs in Q1; will the next quarter be better?
For the banks, the hit on the books has been softer than 2020, still, the second wave has affected collections and recoveries at all levels. NBFCs, however, have been hit harder
BUSINESS
All eyes on Dhanlaxmi Bank Board meeting this week; 3 new appointments, including Ravi Pillai, likely
Pillai is one of the two major shareholder who has close to a 10 percent stake each in the Thrissur-headquartered bank. The other is CK Gopinathan
