BUSINESS
Bond Market Signals | MPC rate hikes likely to be slower, yields seen in range, say experts
The government bonds market has priced in the repo rate to be around 5.75 percent by December, a majority of money market experts said
BUSINESS
Negative real rates, above-target inflation are matters of concern: Shaktikanta Das
Also, how the central bank governor perceives the impact of rate hikes on demand, outlook on liquidity management, and more
BUSINESS
Falling Treasury Bill yields indicate aggressive MPC rate hikes less likely, experts say
At an auction on August 3, RBI sold 91-day T-Bills at a cut-off yield of 5.56 percent, down six basis points (bps) from last week. It sold the 182-day and 364-day notes at 5.89 percent and 6.23 percent cut-off yields, respectively, down nine and 10 bps from last week’s levels.
BUSINESS
India’s cooperative mess | No relief in sight for Karavannur Cooperative Bank’s depositors
In July last year, Kerala-based Karavannur Cooperative Bank was hit by an estimated Rs 100-crore scam. Till date, depositors are struggling to get their money back
BUSINESS
Exclusive Interview | War against NPAs to continue, bad loan recovery target is Rs 2,500 crore in FY23, says Punjab & Sind Bank MD
The state-run lender wants to lower its gross NPA ratio to below 10 percent and net NPA ratio to less than 2 percent by March
BUSINESS
Moneycontrol Poll | MPC set to hike repo rate by at least 35 bps this week
Along with an increase in the repo rate, most economists polled expect the RBI to signal that price pressures in India may have peaked
BUSINESS
Bank of India expects gross NPA ratio below 8 percent by March, says MD
For the April-June quarter, Bank of India’s gross NPA ratio stood at 9.3%, down from 13.51% in the year-ago period and 9.98% in the March quarter
BUSINESS
No takers: Govt should trim supply of floating rate bonds in Oct-March, say dealers
Floating rate bonds have seen tepid demand in weekly auctions, which is why they have devolved on the primary dealers for three successive weeks of issuance
BUSINESS
Room for further reduction in credit costs, NPAs can trend down, says Bank of Baroda MD
Sanjiv Chadha on Bank of Baroda’s business outlook for FY23, how the lender plans to capitalise on retail loan growth momentum, expectations from RBI policy and more..
BUSINESS
Meet the sweeper who rose to become an assistant general manager at SBI
Pratiksha Tondwalkar, a single mother from a humble family, rose through the ranks with sheer grit and determination
BUSINESS
Bank of Baroda aims to recover bad loans worth Rs 13,000 crore in FY23, says ED
Bank of Baroda's gross NPA ratio fell to 6.26 percent in June, down from 6.61 percent in March and 8.86 percent in the same quarter of the previous financial year.
BUSINESS
Capital ratios of state-run banks adequate to absorb shocks, boost credit growth, say experts
PSBs raised a total of Rs 1.42 lakh crore from the market in the form of both equity and bonds during FY20 to FY22
BUSINESS
Shriram Group may sell minor stake in housing finance arm in next fiscal, says Shriram City Union Finance MD
As on June 30, Shriram Housing Finance’s AUM stood at Rs 5,803 crore
BUSINESS
Rupee depreciation slows on RBI cues, dollar pullback; but pain not over, say experts
The rupee breached the psychologically important level of 80 per dollar for the first time on July 19 and hit a lifetime low of 80.06. Since then, the currency has appreciated and now stands at 79.90 per dollar
BUSINESS
Axis Bank-Citi deal likely to be completed by Q4FY23, says MD Amitabh Chaudhry
In March, Axis Bank had acquired Citibank's India consumer business for $1.6 billion in an all cash deal
BUSINESS
Explained | Why are banks’ CD rates rising? Five key questions answered
HDFC Bank, Axis Bank and Canara Bank on July 22 issued near-three month CDs at a coupon of 5.60 percent, 5.62 percent and 5.52 percent, respectively, according to NSE data
AUTOMOBILE
RuPay credit card-UPI linkage likely to be operational in ‘couple of months,’ says NPCI CEO Dilip Asbe
RBI Governor Shaktikanta Das had said that credit cards will be allowed to be linked to UPI. To begin with, it will only be RuPay credit cards, India's homegrown card network.
BUSINESS
EoI for IDBI Bank’s privatisation likely within a month, says MD Rakesh Sharma
The government had announced its plan to privatise the bank in February 2021. The process was expected to be completed by March 2022
BUSINESS
Explained | NCLT orders insolvency proceedings against Future Retail: Five key questions answered
With the NCLT order, banks can now formally initiate insolvency proceedings against Future Retail and try to recover the more than Rs 5,300 crore owed to them.
BUSINESS
MC Explains | RBI’s new regulatory framework for urban cooperative banks: 5 questions answered
The central bank’s four-tier regulatory structure aims to tighten rules governing UCBs and simplify the process for better scrutiny as well as protection of depositors’ interests
BUSINESS
NCLT initiates insolvency proceedings against Future Retail
Vijaykumar V Iyer of Deloitte will be appointed as the interim resolution professional of Future Retail, the NCLT has said
BUSINESS
Rupee’s woes not yet over; oil, Fed cues signal further fall towards 81 to dollar, say experts
The rupee breached a psychologically important level of 80 per dollar on July 19 for the first time. The unit has depreciated nearly 6 percent in FY23 so far
BUSINESS
More banks look to issue AT1 bonds as investor demand comes back
Strong demand witnessed during recent AT1 bonds issues of Canara Bank and Punjab National Bank has helped, experts say
BUSINESS
Explained | How can a deeper Fed rate hike impact India?
An over-sized Fed rate hike could quicken the pace of foreign outflows from India, add to the rupee’s woes and weaken domestic macros
