BUSINESS
RBI's Retail Direct primary market subscription surges over 42% in 5 months; T-bills see biggest traction
Total primary market subscription in absolute terms rose to Rs 2,571.67 crore as on August 21, from Rs 1,809.86 crore on April 3 as investors utilised the arbitrage between T-bills and bank saving accounts.
BUSINESS
Banks step up borrowing through MSF as liquidity falls
As per RBI data, banks borrowed Rs 89,813 crore via MSF on August 21, Rs 87,095 crore on August 22, and Rs 90,895 crore on August 23.
BUSINESS
Banks scale up investments in SLR securities in Q1FY24 as deposit base jumps
According to Reserve Bank of India’s August Bulletin, investment of scheduled commercial banks stood at Rs 56.71 lakh crore, as on June 30, compared to Rs 54.15 lakh crore, as on March 24
BUSINESS
Call money rates hit near 5-month high at 6.96% as liquidity tightens
In the intra-day, call money rates touched the highest level since March 31, 2023.
BUSINESS
Banks raise Rs 14,390 crore through certificates of deposit after I-CRR drains liquidity
HDFC Bank, Canara Bank, IDFC First Bank, Bank of Baroda, and Axis Bank were the top five issuers in the last four trading sessions.
BUSINESS
Banking system liquidity slips into deficit for the first time this fiscal
Presently, liquidity in the banking system is estimated to be in deficit of around Rs 23,644.43 crore.
BUSINESS
Loans against FDs rise over 46% YoY in June, the highest growth in a decade
Most Indian banks are offering loans between 85 percent and 95 percent of the value of customers' FDs
BUSINESS
Share of gold in forex reserves rises, in line with global trend
In absolute terms, gold reserves rose to Rs 3.67 lakh crore as on August 18, 2023, compared to Rs 2.02 lakh crore as on January 3, 2020, as per RBI data.
BUSINESS
MC Explains | All you need to know about UDGAM - centralised web portal to search for unclaimed deposits
MC Explains | All you need to know about UDGAM - centralised web portal to search for unclaimed deposits.
BUSINESS
NBFCs earnings rise on improved asset quality, high AUM growth
The assets under management of the most NBFCs grew in the range of 18-41 percent in the April-June quarter, however, the high cost of funds is likely to put pressure on their net interest margins
BUSINESS
Commercial paper issuances fall to a 9-month low in July on higher rates
In July, rates on the CPs maturing in three months rose by 10-15 basis points.
BUSINESS
RBI may hike repo rate after CPI inflation breaches upper tolerance band: Economists
India's headline retail inflation rate crashed past the upper bound of the Reserve Bank of India's 2-6 percent tolerance range in July and shot up to a 15-month high of 7.44 percent, from 4.81 percent in June.
BUSINESS
Banking system liquidity surplus dips by over Rs 1.42 lakh crore as I-CRR kicks in
According to the RBI, liquidity in the banking system stood at Rs 1.21 lakh crore as on August 13, compared to Rs 2.64 lakh crore as on August 10
BUSINESS
Liquidity to remain in surplus of over Rs 1 lakh crore despite I-CRR: Experts
In the last few months, liquidity in the banking system has risen sharply post withdrawal of Rs 2,000 banknotes, the transfer of RBI’s surplus to the government, an uptick in government spending, and capital inflows
BUSINESS
Incremental CRR may push up short-term rates by 15-20 bps
The move will remove a little over Rs 1 lakh crore from the banking system, pushing up short-term rates of money market instruments like treasury bills, commercial papers, call money, etc.
BUSINESS
MC Interview: Inflation for July-September will cross RBI's projection, says HDFC economist Sakshi Gupta
It is unlikely that the central bank will hike rates in the next few months, Gupta said.
BUSINESS
MC Explains | All you need to know about the Incremental Cash Reserve Ratio
The I-CRR has been introduced to manage the surplus liquidity sloshing about in the banking system. Nonetheless, the VRRR will continue to be the main tool for draining excess cash
BUSINESS
RBI may marginally increase inflation forecast in August policy: Money market experts
In its June monetary policy, the central bank projected CPI inflation at 5.1 percent for 2023-24.
BUSINESS
Cholamandalam Investment’s total borrowing may remain in range of Rs 1.15-1.18 lakh cr in Q2, says CFO Arul Selvan
The company is expecting new business to constitute around 15 percent of the overall book in the next two years, Selvan added.
BUSINESS
Indian banks write-off Rs 34,428 crore in Q1 FY24
PSU bank account for 80 percent of the total write-off in the reporting quarter, with private banks accounting for the remaining.
BUSINESS
Cost of funds of NBFCs climbs by up to 22 bps in April-June quarter
Going forward, analysts expect up to 50-80 bps on-year increase in the cost of funds across companies.
BUSINESS
Indian bonds may not be impacted much by downgrade of US credit ratings, say experts
Dealers expect the benchmark bond yield to range between 7.15 percent and 7.20 percent.
BUSINESS
Shriram Housing Finance to raise Rs 300-500 cr via NHB refinancing: GS Agarwal, CFO
The company is looking to raise around Rs 1,000-1,100 crore through bank loans, NHB refinance and debt capital market instruments, added Agarwal. Of this, NHB refinance has the highest share, he said
BUSINESS
RBI may announce new 10-year benchmark bond on August 7, say experts
Money market dealers see the coupon on the new bond at between 7.10 and 7.20%.
