BUSINESS
RBI directs urban co-operative banks to eliminate honorary titles at board level
Urban co-operative banks have been directed to eliminate any such existing position or titles within one year, the central bank said
BUSINESS
What happens to loan rates when banks hike MCLR? 5 key questions answered
As banks have started hiking their marginal cost of fund-based lending rates, borrowers may have to shell out more to service their loan obligations, say analysts
BUSINESS
Borrowers may have to shell out more on loans as banks begin to hike lending rates
Multiple bankers and analysts Moneycontrol spoke to on April 20 said that loan pricing could go up by at least 25-50 basis points from current levels over the next two quarters as lenders have started hiking their marginal cost of fund-based lending rates (MCLR) over the past few days
BUSINESS
Retail inflation likely to stay elevated in FY23, overshoot RBI’s forecast: IDFC FIRST Bank economist
Upside risks to inflation may prompt the RBI to hike the repo rate by 25 basis points in June and change its stance to ‘neutral,’ says IDFC FIRST Bank’s India economist Gaura Sen Gupta
BUSINESS
RBI asks NBFCs to make additional disclosures under scale-based regulation regime
The disclosures pertain to regulatory requirements, exposure to sectors like real estate, capital market, among others
BUSINESS
NBFC MFIs, low-rated corporates put off capital-raising plans as rates stay high
Companies like Five Star Business Finance, Belstar Microfinance and Asirvad Micro Finance are unlikely to come up with a bond issue at least in April to avoid borrowing at higher rates, sources said.
BUSINESS
With interest rates set to go up, Indian banks look to time debt raising
Fund-raising now will help banks take advantage of a lower interest rate given that the RBI is expected to make continuous rate hikes this fiscal year, and also help address growing credit demand. Some banks, including HDFC Bank, have already received board approval to raise funds.
BUSINESS
State Bank of India hikes key reference lending rate by 10 bps across tenors
Axis Bank has also upped marginal cost of funds-based lending rate (MCLR) by 5 bps. This is the internal reference rate based on which rates are set for various types of loans
BUSINESS
Future Retail’s IBC process may not lead to deep haircut for banks
Future Group, which is on the brink of liquidation, is currently locked in a long-drawn-out legal dispute with Amazon. The dispute comes as the two companies are locked in a bitter feud over the debt-ridden Indian company’s announcement in 2020 to sell its retail, wholesale, warehousing, and logistics businesses to billionaire Mukesh Ambani’s Reliance Industries in a deal worth $3.4 billion.
