BUSINESS
Aggressive global policy actions may prompt MPC to hike repo rate by 50 bps in August, says Kotak Mahindra Bank’s chief economist
Interest rate hikes are a blunt tool to manage supply-side inflation and India’s growth could be weighed down by hardening financial conditions, Upasna Bhardwaj said
BUSINESS
Trade settlement in rupee major step towards internationalising currency, experts say
Amid persistent weakness in the rupee’s exchange rate versus the dollar, the RBI announced a mechanism to settle trade transactions in rupee terms
BUSINESS
India not ready to make big move on full capital account convertibility: experts
In a volatile global environment, it would be prudent to stick to a gradual approach of easing restrictions and simultaneously deepen the domestic markets rather than opt for full capital account convertibility, experts say
BUSINESS
Days after RBI FX steps, SBI hikes FCNR (B) deposit rate by 105 bps to 2.85% for 1-year USD deposits
The measures came in the wake of the rupee hitting record low against the dollar practically every day.
BUSINESS
India’s bank privatisation agenda may not enthuse investors as yet, say experts
Potential investors may not want to take on issues of a large pool of bad assets in state-run banks and pressure from bank unions
BUSINESS
RBI measures unlikely to open forex floodgates, may not stop rupee slide: Experts
The central bank announced measures on July 6 to boost foreign exchange inflows and alleviate pressure on the rupee’s exchange rate
BUSINESS
5 years on, resolutions under IBC struggle due to poor infrastructure, delays
Strict timelines prescribed under the code, multiplicity of cases and lesser number of tribunals have increased the backlog of cases
BUSINESS
Top NBFCs, HFCs opt for short-term fund raising on RBI rate cues, say experts
AAA-rated NBFCs and HFCs flooded the corporate debt market last week with short-term debt issuances. The trend is likely to continue, experts say
BUSINESS
Explained | Yuan payments to settle Russian imports: 5 key questions answered
Western countries have been slapping sanctions on Russia for its invasion of Ukraine, but India has looked to maintain trade ties with Russia while not breaching the sanctions
BUSINESS
Rupee in free fall: Currency set to weaken further on capital flight, strong dollar, say experts
Despite RBI intervention, the local unit is set to test the 80 level, observers believe.
BUSINESS
Bankers, IBC experts cheer proposal for part-resolution of assets
IBBI has proposed that the resolution professional and CoC can explore resolutions of part of the assets or businesses by allowing the submission of different resolution plans for them
BUSINESS
Can India adopt a Fed-style dot plot for interest rates? Not yet, say experts
An external member of the Monetary Policy Committee (MPC), Jayanth Varma, said the time was “ripe” to provide projections for the future path of the policy rate, according to the minutes of the panel’s latest meeting.
BUSINESS
States’ borrowing cost set to rise on higher debt supply, RBI’s rate cues, experts say
Money market experts say states’ debt supply worries will increase from July as they increase spending to revive capital expenditure and as the RBI hikes interest rates further
BUSINESS
Explained | Why are dollar-rupee onshore forward premiums falling? Five key questions answered
A consistent drop in premiums will accentuate depreciating pressure on the rupee, say experts
BUSINESS
IBBI’s proposed amendments to liquidation regulations may help banks streamline recovery process, say experts
The board has proposed several new guidelines with an aim to provide a better monitoring framework of the process and prescribe a timeline for auction of assets
BUSINESS
When ‘Tamasha’ guarantees ‘Nautanki’ | Three banks look to recover bad loans
The Great Indian Nautanki Company owes three banks about Rs 142 crore, besides interest and penalties. One of its corporate guarantors is Great Indian Tamasha Company. But can company names be considered an indicator of a borrower’s credibility?
BUSINESS
The Aadhaar confusion | Four years on, some banks yet to honour Supreme Court’s Aadhaar verdict
The Supreme Court ruled in September 2018 that it is not mandatory for citizens to furnish an Aadhaar number for opening bank accounts if they are not availing of government subsidies. Moneycontrol investigated whether the order is being honoured. Here is what we found
BUSINESS
Banks need to proactively undertake stress testing of loan book, says RBI deputy governor
Indian banks are just about recovering from the pandemic that shrivelled borrowers’ income. A combination of measures by the Reserve Bank of India and credit guarantee schemes by the government helped borrowers and banks throughout the pandemic.
BUSINESS
Lenders to Dish TV promoters may not be able to exercise voting rights despite invoking pledged shares, says report
The interpretation in the Stakeholders Empowerment Services report is based on a recent Supreme Court judgment, which concluded that lenders or pledgees are not owners of shares and cannot exercise voting rights once the pledged shares are invoked.
BUSINESS
Good ol’ FDs are back as an attractive option for savers
Riskier asset classes, like stocks and crypto currencies, across the globe have seen a sharp selloff. In contrast, bank FD rates are slowly inching higher following two back-to-back repo rate hikes by the RBI
BUSINESS
Small, mid-sized NBFCs see up to 200 bps jump in borrowing costs
Experts said there are limited avenues available to small and mid-sized NBFCs for raising funds and they are generally elbowed out of the market by the better-rated larger corporates
BUSINESS
Home loan demand likely to moderate as borrowers brace for higher EMIs, say experts
Home-loan borrowers are bracing for higher interest rates as inflationary pressure prompts the Reserve Bank of India to tighten monetary policy. On June 9, HDFC increased its retail prime lending rate by 50 basis points. It was the fourth time in a month that HDFC hiked its home loan rate
BUSINESS
Exclusive | ADIA investment key to penetrating deeper into affordable housing, says IIFL Group’s Nirmal Jain
IIFL Home Finance will use the proceeds to expand in the under-served markets of small-town India
BUSINESS
Cryptocurrencies pose 'huge risk' to financial stability: RBI Guv Shaktikanta Das
Das has repeatedly conveyed his stance that trading in cryptocurrencies involves a great deal of risk and may lead to instability in the financial market.
