BUSINESS
MC Exclusive | L&T Finance looks for banks, NBFCs to sell its wholesale loan book
At Rs 19,840 crore, its wholesale book was 25 percent of the total loan book of the company as on March 31, 2023, says Raju Dodti, Chief Executive, Wholesale & SME Finance.
BUSINESS
MC Exclusive| Incred Money may commence online bond platform operations this week
In the first week of the website’s launch, Incred Money racked up more than 3,000 subscribers, of which it expects most to turn into investors. Experts anticipate tech challenges as trading will be completely online and on the website
BUSINESS
MFs’ deployment in up to 90-day CPs of NBFCs rises 21-month high in May: SEBI data
According to AMFI data, liquid funds in May received inflows worth Rs 45,234.22 crore.
BUSINESS
S Janakiraman: Consensus man, credit expert; RBI’s new deputy governor
Typically, one of the four deputy governors is a veteran banker, who brings the industry perspective to the thinking process within the central bank
BUSINESS
NaBFID to complete Rs 60,000 crore disbursements in FY24: MD Rajkiran Rai G
Going ahead, Rai expect Rs 75,000 crore sanctions in rest of the years.
BUSINESS
Change in liquidity conditions, higher call money rates forced RBI to conduct repo auction, say experts
On June 19, the central bank conducted a Rs 75,000 crore 4-day variable rate repo auction
BUSINESS
SBI, BoB, Canara Bank top execs’ salary hikes halved in FY23
The SBI chairman received a remuneration of Rs 36.99 lakh, while the MD and CEO of Bank of Baroda and Canara Bank got Rs 43.04 lakh Rs 39.76 lakh, respectively.
BUSINESS
Online bond platforms selling unlisted bonds a grey area: Experts
SEBI rules require online bond platforms to get broking licences and sell listed bonds. But some experts say they largely remain silent on the offering of unlisted debt securities by such entities independently on separate or unrelated platforms.
BUSINESS
MC Analysis | Majority of RBI penalties on co-op banks in 2023 due to SAF, IRAC violations
Of the 66 co-op banks penalised by the RBI in 2023, nine have been pulled up for violating Supervisory Action Framework norms, 8 for not transferring balances to the Depositor Education and Awareness Fund, and 6 for breaching Income Recognition and Asset Classification norms. The consolidated penalty levied amounted to Rs 1.12 crore, per RBI data.
BUSINESS
RBI’s dependence on VRRR may increase as liquidity likely to improve further over the next few months, say experts
The response from the banks in the reverse repo auctions has been muted. Across all the auctions, banks parked Rs 1.57 lakh crore against the Rs 5.50 lakh crore that the RBI had offered to absorb.
BUSINESS
Scheduled commercial banks can set their own limits for borrowing in call money, says RBI Governor Das
The six-member Monetary Policy Committee of the RBI on June 8 kept the policy repo rate unchanged at 6.5 percent in a unanimous decision.
BUSINESS
SDL, corporate bond yields ease 12-17 bps as liquidity, inflation improve
The reduction in yield on government bonds also helped.
BUSINESS
Exclusive| Online bond platforms to form industry association in next 3-4 months, say sources
Currently, there are more than 15 SEBI-recognised online bond trading platforms in India.
BUSINESS
RBI panel proposals on customer service send out wake-up call to banks
The panel, headed by former deputy governor, B P Kanungo has recommended a host of proposals to improve customer service in banks.
BUSINESS
RBI mopping up excess liquidity, tax outflows could push up interbank call rates, say dealers
At present, the weighted average overnight call money rate is trading at 6.3432 percent whereas the repo rate is at 6.50 percent.
BUSINESS
RBI may hit pause again next week, drawing comfort from inflation, growth numbers: Economists
The Monetary Policy Committee kept the repo rate unchanged at 6.5 percent in April, after raising it by 250 basis points since May 2022
BUSINESS
FPI utilization of investment limit in corporate bonds lowest in 10 years, shows data
Experts attribute the trend to a sharp depreciation of the Indian rupee, a lower spread between US Treasury yields and returns on Indian debt instruments and global uncertainties.
BUSINESS
Bank of India gets Rs 3,104 crore, City Union Rs 385 crore through deposit & exchange of Rs 2,000 notes: Sources
On May 19, the RBI announced the withdrawal of Rs 2,000 notes from circulation.
BUSINESS
'Effective governance, compliance practices essential in safeguarding bank's interests'
RBI Deputy Governor M K Jain delivered a speech at the Conference of Directors of Banks, organised by the RBI for Public Sector Banks on May 22 in New Delhi and Private Sector Banks on May 29 in Mumbai.
BUSINESS
RBI disposed 132.19 crore pieces of soiled Rs 2,000 notes in last 3 fiscals: Annual Report
The central bank disposed 48.24 crore pieces in FY23, 38.47 crore pieces in FY22, and 45.48 crore pieces in FY21 soiled bank notes of the currency
BUSINESS
Kanpur Municipal Corp to raise Rs 100 cr via 10-year municipal bonds in August: Officials
Municipal bonds are issued by civic bodies to finance urban infrastructure projects.
BUSINESS
Credit cards transactions rise 30.1% in FY23 in volume: RBI Annual Report
In value terms, payment transactions carried out through credit cards increased by 47.3 percent.
BUSINESS
RBI annual report: FPI investment in outstanding corporate bonds decline to Rs 1.04 lakh crore
In 2022-23, primary corporate bond issuances rose in the domestic market, while overseas bond issuances moderated.
BUSINESS
Rs 2,000, Rs 500 notes in circulation accounted 87.9% as on March 31 in value terms: RBI Annual Report
The Rs 500 denomination constituted the highest share at 37.9 per cent, followed by Rs 10 denomination banknotes, which constituted 19.2 per cent of the total banknotes in circulation as on March 31, 2023.
