BUSINESS
Muthoot Fincorp to reorganise lending portfolio to 70% gold loans, 30% others in 4 years: CEO Shaji Varghese
The company has reviewed their policies and practices of business after the Reserve Bank of India (RBI) in September asked lenders to review it and rectify any deficiencies. Muthoot Fincorp did not find any deficiency, and everything is complied with guidelines, said Shaji Varghese.
BUSINESS
Higher deficit liquidity increases RBI’s liquidity injection via VRR auctions
The central bank has so far conducted nine variable rate repo (VRR) auctions so far this month to support liquidity in the banking system
BUSINESS
National Pension System’s AUM to rise to Rs 15 lakh crore by FY25-end, says PFRDA chairman Deepak Mohanty
According to the PFRDA data, AUM of the NPS stood at Rs 13.55 lakh crore as on November 30, 2024, as compared to Rs 11.72 lakh crore as on March 31, 2024.
BUSINESS
Expected rise in senior citizens positions NPS as India's pension cornerstone: LIC's Siddhartha Mohanty
Scheme C in the non-government sector has delivered an average return of 9.4 percent over the last 15 years, outperforming corporate bond funds managed by mutual funds at 7.4 percent. Scheme G in the non-government sector has achieved an average return of 8.8 percent, Mohanty said.
BUSINESS
RBI does not have to follow what other central banks do, says MPC external member Nagesh Kumar
Going ahead, Kumar said that MPC meeting in February would take stock of how the inflation-growth balance was shaping up between now and then against the backdrop of global trends.
BUSINESS
Galaxy Health Insurance to prioritise agency sales channels for a few years: CEO G Srinivasan
In the last one and a half months since launch, the company has sold about 800 policies with a total premium of about Rs 1.5 crore.
BUSINESS
RBI MPC members expect food inflation to ease in Q4, show minutes
In November, India’s retail inflation eased to 5.5 percent in November from a 14-month high of 6.2 percent in the previous month, as food prices cooled off.
BUSINESS
High demand from FPIs, insurance companies pull G-sec yields down 38 bps
Indian bond yields may fall further on anticipation of rate cut in the February monetary policy review, experts say
BUSINESS
RBI intervention in FX market increases as Rupee touches record low
The Indian rupee today hit a record low of 85.1050 against the US dollar during the afternoon trade, as compared to 85.0838 at opening against the greenback. Timely intervention by the RBI has kept the Indian rupee at 85.0818 against the greenback, which is lower than previous record low levels, another trader at brokerage firm said.
BUSINESS
Central banks across globe to keep focus equally on tackling inflation and growth
Economists believe that growth is expected to pick up in most economies. In the US, it is growth is expected to rise on account of a fiscal boost by Trump 2.0 and in India it may recover in the coming quarters.
BUSINESS
Indian rupee ends all-time of 85.0775 against dollar after US Fed signals fewer rate cuts in 2025
The Indian currency opened at 85.04 against the US dollar on December 19, after the Federal Reserve lowered its key interest rate by a quarter percentage point in the third consecutive reduction
BUSINESS
Rupee sinks to all-time low, likely to fall to 85 against dollar
The rupee slipped to a new low of 84.94 against the dollar, just 6 paise shy of the 85 mark
BUSINESS
Loan write-off by banks hits 7-year low in 2024 on better asset quality
Even though the total write-offs have fallen to seven-year lows, it remains over three times higher than it was before AQR
BUSINESS
Corporate bond issuances touch all-time high of over Rs 10 lakh crore so far in 2024
The yield on corporate bonds has declined by around 43 basis points so far in 2024, tracking the easing yield on government securities, prompting more issuers to tap the market and raise funds at better rates.
BUSINESS
Banks moves a few loans from EBLR to fixed rates in anticipation of 25 bps rate cut
Banks are bracing for a minimum 25 bps rate cut in the February 2025 policy. Retail loans not mandatorily required to be priced on external benchmark rates are being repriced as fixed rate loans by banks to protect their profitability.
BUSINESS
CD issuances at a 4-year high in 2024 as fight for deposit intensifies
The surge is also because demand for deposits goes up at the end of the quarter to meet credit requirements. Instead of repaying the maturing deposits, banks usually roll over CDs to helps maintain deposits
BUSINESS
RBI will need more time to allow corporates in banking sector, says KV Kamath
Kamath says he is seeing signs of rash behaviour by digitally driven enterprises and the regulator will have to take great care
BUSINESS
Rupee depreciates 1.40% so far in 2024, likely to head to 85 against US dollar
According to the Bloomberg data, in comparison to Japanese Yen and South Korea’s Won, Indian rupee seems to have held up well with volatility depreciating 1.40 percent against the US dollar
BANKING
IRDAI likely to bring norms to reduce bancassurance with parent bank
The regulator is likely to encourage diversification across multiple channels to ensure balanced growth, said sources
INDIA
Pressure in NDF market pushes rupee to all-time low of Rs 84.88
The Indian rupee has been under pressure since last few months due to growth worries and foreign investors selling in the Indian equities
BUSINESS
Better clarity on inflation by February may pave way for new governor to cut rates, say economists
In the December monetary policy, the RBI has kept repo rate and stance unchanged, but given some comfort on the liquidity with the cut in cash reserve ratio (CRR).
BUSINESS
Rate setting not for tackling inflation, room for rate cut opens once RBI confident of below 4% inflation for 12 months: Axis Bank's Neelkanth Mishra
Mishra is confident that the new RBI Governor Sanjay Malhotra is capable to maintain the benchmark set by the previous governor and expects him to tackle crisis in a similar way the earlier governor did if any emerges.
BUSINESS
Overseas bond issuance bounces back after 2 years on rising demand from foreign investors
In 2022 and 2023, most Indian issuers were constrained from tapping the overseas market due to rising interest rates, as central banks tried to contain inflation
BUSINESS
Change of guard at RBI corner office roils rupee, but boosts bond yields
On December 9, the Appointments Committee of the Cabinet cleared the appointment of Sanjay Malhotra as next RBI Governor for a period of three years.
