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.
BUSINESS
MC Explains| Will your Rs 2,000 note be recycled into a banknote or will it fuel a furnace?
The RBI has a system in place for the disposal of out-of-use notes. They can come back as recycled banknotes or can be turned into briquettes. Read on to find out more
BUSINESS
10-year bond, repo rate gap shrinks to over 5-year low. Are we near a rate-cutting cycle?
Spreads have narrowed further as the market's terminal rate expectations might have changed with the RBI keeping the policy rate unchanged and inflation easing, say fund managers
BUSINESS
Rs 2,000 note withdrawal impact: CD, CP yield falls on expectation of improvement in bank deposits
The yields on CDs maturing in three months, which were trading in the 7.00-7.20 percent range on May 17, have now fallen to 6.80-6.95 percent.
BUSINESS
Scarce use, risk of collateral issues behind withdrawal of Rs 2,000 notes: Das
Das was speaking at the CII Annual Session 2023.
BUSINESS
War on inflation not over, need to see how El Nino plays out, says RBI Governor Shaktikanta Das
Das was speaking at the Confederation of Indian Industry (CII) Annual Session 2023.
BUSINESS
Rs 2,000 note withdrawal: Banks see no rush for exchange, deposit
The RBI said people could visit bank branches from May 23 to exchange or deposit their Rs 2,000 notes.
