BUSINESS
Higher RBI dividend to help ease fiscal deficit by 0.2-0.4% in FY25, say economists
In the interim Union Budget 2024, the government has targeted a fiscal deficit of 5.1 percent of the GDP for 2024-25.
BUSINESS
RBI board approves record surplus transfer of Rs 2.11 lakh crore to government for FY24
The dividend, transferred in 2024-25, is sharply higher than what the government had expected. It will reflect in the government’s account for FY25.
BUSINESS
Open interest contracts rise in currency derivatives market as corporates ramp up hedging amid rupee volatility
From 83.4675 in the beginning May, the rupee has appreciated to 83.30 against the dollar now.
BUSINESS
RBI conducting Rs 75,000 crore 2-day VRR auction today
The liquidity in the banking system is estimated to be in deficit of around Rs 2.56 lakh crore
BUSINESS
Durable alignment with inflation target may happen only in second half of the year: RBI bulletin
The monthly State of the Economy article includes Deputy Governor Michael Patra - one of the three RBI representatives on the Monetary Policy Committee (MPC) - as one of its co-authors.
BUSINESS
In a relief to low-rated bond issuers, yields down up to 25 bps in last 6 months
In the last few weeks, yields on government securities, especially on the new and old 10-year benchmark bonds, have eased around 10 bps.
BUSINESS
RBI board to take up dividend payout to Centre, figure seen at nearly Rs 1 lakh crore
The government had budgeted Rs 1.02 lakh crore as dividend from the RBI and state-run lenders in 2024-25.
BUSINESS
NBFC body to soon write to RBI on new draft project financing norms
On May 3, the central bank proposed to lenders that they set aside higher provisions for under-construction infrastructure projects and asked them to ensure strict monitoring of any emerging stress.
BUSINESS
Better asset quality, rising AUM aided profitability of NBFCs in Jan-March quarter, say experts
Asset quality of the most lenders in the January-March quarter have reported an improvement, with stage 3 loans coming down.
BUSINESS
Loan write-offs by top 10 state-run banks fell to lowest in five fiscal years in FY24, shows data
Banks wrote off Rs 92,012 crore worth of loans in FY24, compared to Rs 1.05 lakh crore in FY23, data showed.
BUSINESS
MC Exclusive | Shriram Housing to retain employees after Warburg Pincus acquisition: executive vice chairman Revankar
On May 13, the board of Shriram Finance approved the sale of its housing finance subsidiary Shriram Housing Finance Limited (SHFL) to Warburg Pincus. Warburg Pincus will acquire the stake through its affiliate Mango Crest Investment Ltd from all the sellers.
BUSINESS
Exclusive | Shriram Finance to seek regulatory nods for sale of housing arm by May-end, says Umesh Revankar
Shriram Finance said on May 13 it will sell its entire stake in Shriram Housing Finance to US private equity firm Warburg Pincus in a deal valued at Rs 4,630 crore
BUSINESS
Warburg Pincus to invest Rs 1,000 crore in Shriram Housing to ramp up operations, says Umesh Revankar
Revankar said the deal is expected to get completed by the end of this financial year.
BUSINESS
RBI to maintain pause in June despite easing CPI print as food inflation risk remains, say economists
India's headline retail inflation stayed largely unchanged at 4.83 percent in April
BUSINESS
Banks' overdue SMA-2 loans rise in Q4 even as overall asset quality improves
According to the Moneycontrol’s analysis of 16 banks, 11 banks have reported an uptick in SMA 2 loans, whereas other 5 seen a decline.
BUSINESS
Indian Overseas Bank's IT spend to be15-20% higher in FY25 over FY24 : Ajay Kumar Srivastava
The managing director and CEO added that the public sector bank expects gross NPAs to be in 2.3-2.35 percent level in the next financial year.
BUSINESS
Canara Bank's NIM in FY25 will be higher than guidance, says CEO K Satyanarayana Raju
In an interview with Moneycontrol, Raju said Canara Robeco Asset Management Company’s public issue will take place in the last quarter of this financial year.
BUSINESS
Corporate bond yields fall 5-7 bps tracking easing G-sec yields
On May 3, the RBI had announced the central government will buy back Rs 40,000 crore worth of government securities on May 9, 2024.
BUSINESS
Canara Bank unlikely to invest further in AIF, provided 100% on current investment, says CEO Raju
In the January-March quarter, the lender made a provision of 11.57 crore on its AIF investments
BUSINESS
Canara Bank to maintain 80-83% investment in HTM category, says ED Debashish Mukherjee
Earlier in the day, Canara Bank reported an 18.4 percent rise in its net profit at Rs 3,757.23 crore in the fourth quarter
BUSINESS
Banks report robust treasury income in Q4 on easing bond yields
Yield on the bonds have eased due to heavy inflows by the foreign investors amid Indian bond inclusion in global bond index announcement last year.
BUSINESS
Banks may see some impact on profits due to RBI’s draft norms for higher provisioning on infra lending, say experts
According to research reports, public-sector banks will see a larger impact compared to private lenders.
BUSINESS
Currency derivatives volumes fall sharply as RBI’s exposure norms kick in
The initial implementation date of the RBI circular was April 5, which was later extended to May 3 after concerns were raised about participation in the exchange-traded currency derivatives market.
BUSINESS
Federal Bank to come back with co-branded credit cards in 3-4 months after getting regulatory approvals: Shyam Srinivasan
On March 13, Federal Bank said it has stopped issuance of new co-branded credit cards and is in the process of rectifying the areas that are deficient and will seek regulatory clearance prior to resumption of new issuance
