BUSINESS
MC Interview | Dual control of PSBs by finance ministry & RBI is wrong: Montek Singh Ahluwalia
The veteran economist said that the ultimate responsibility of regulating a PSB, including removing the Chairman, if necessary, should rest with the RBI, as is the case with private banks.
BUSINESS
MC Explains: Are four PSBs merging?
Bankers said a report on social media that the government planned to merge four public sector banks was interpreted wrongly.
BUSINESS
CSB Bank targets 32% growth in SME vertical by end of FY24, says top executive
Shyam Mani, Group Head, SME, CSB Bank, said the RBI’s move to increase risk weights on consumer loans may force banks to go aggressive in SME lending.
BUSINESS
IRDAI aims to converge to IFRS model by 2025, says Chairman
IFRS are standards that state the classification of the assets and liabilities of companies operating in the insurance sector
BUSINESS
Fed policy impact: Taking cues, RBI may look to cut interest rates in mid-FY25, say experts
The Fed’s policymakers also signalled that they expect to make three quarter-point cuts to their benchmark interest rate next year.
BUSINESS
Bank credit to industries slows down, shows RBI data
According to experts, credit to the segment fell due to risks of high defaults and global slowdown in demand for certain industries.
BUSINESS
Inflation lower than expectations, RBI may opt for a prolonged pause, say experts
At 5.55 percent, the CPI inflation print for November 2023 is 68 basis points (bps) higher than October's 4.87 percent
BUSINESS
Lending rates unlikely to change as banks go into wait and watch mode
In its latest policy review, the MPC decided to keep the repo rate unchanged at 6.50 percent. There has been no change in the rate since February 2023.
BUSINESS
Experts welcome RBI norms on digital loan framework, fintech repository
The proposed measures may require fintech companies to tweak their compliance process, said experts
BUSINESS
International confidence growing on India's economy: RBI Guv Das
RBI raised its GDP growth forecast for 2023-24 by a huge 50 basis points to 7 percent following the big upside surprise in the July-September FY24 data.
BUSINESS
Risk management practices getting better, says RBI's Janakiraman
RBI MPC meeting: The central bank increased the risk weight assigned to consumer loans of banks and non-banking finance companies by 25 percentage points on November 16
BUSINESS
10-year benchmark government bond yield steady after RBI status quo
The MPC has kept the repo rate unchanged at 6.5 percent in the past four monetary policy reviews, after raising the rate by 250 basis points since May 2022.
BUSINESS
RBI MPC decision to keep key rates unchanged on expected lines: Experts
The MPC has kept the repo rate unchanged at 6.5 percent in the past four monetary policy reviews, after raising the rate by 250 basis points since May 2022.
BUSINESS
RBI plans regulation for web aggregation of loan products in digital lending
RBI MPC meeting: Additionally, the central bank decided to come out with a unified regulatory framework on connected lending for all regulated entities.
BUSINESS
RBI proposes to set up fintech repository by April 2024
RBI MPC meeting: On November 23, RBI DG M Rajeshwar Rao said that the collaboration between banks and fintechs is aiding innovations.
BUSINESS
RBI increases UPI transaction limit for education and healthcare to Rs 5 lakh
Earlier, the transaction limit was Rs 1 lakh.
BUSINESS
RBI declares reversal of liquidity facilities on weekends, holidays from Dec 30
The Reserve Bank of India on December 8 left its key interest rate unchanged for the fifth consecutive meeting.
BUSINESS
MC Exclusive: Go First lenders closer to agreeing on liquidation; eye up to Rs 3,000 crore from asset sales
The airline’s lenders could vote on a proposal to liquidate the insolvent airline as early as this week, Moneycontrol has learnt. With this, another domestic airline’s days are set to come to an end
BUSINESS
MC Exclusive | Public sector banks wrote off loans worth Rs 3.66 lakh cr in last 3 years: RTI data
During the August 2023 MPC, RBI Deputy Governor Swaminathan J stressed on the need for banks to redouble their efforts to recover written-off loans.
BUSINESS
Banks yet to fully pass on RBI rate hikes to customers, shows data
RBI governor Shaktikanta Das said the transmission of the 250 bps increase in the policy repo rate to bank lending and deposit rates was incomplete
BUSINESS
MC Explains: What are core investment companies?
Recently, TVS Holdings and Jio Financial Services applied to the Reserve Bank to be registered as CICs India.
BUSINESS
MPC likely to hold rates again as inflation worries persist, say economists, bankers
After the April monetary policy, the RBI has kept the repo rate unchanged at 6.5 percent, after raising rates by 250 bps since May 2022.
BUSINESS
India must strive for 8.5-9% growth, says Uday Kotak
India’s July-September 2023 GDP growth stood at 7.6 percent versus 6.2 percent in July-September 2022.
BUSINESS
Growth in personal loans slows down, shows RBI data
The slowdown in growth comes in the backdrop of concerns flagged by the RBI over the surge in such unsecured loans, and a reminder to banks to strengthen their surveillance mechanisms
