The uptick in the foreign exchange reserves is a result of the rise in the Foreign Currency Assets (FCA), which is a major component of the overall reserves.
The amount raised by way of unlisted bonds between April and September this year was Rs 20,413 crore, compared to Rs 53,176 crore over the same period last year.
India's Ambassador to the UAE Sunjay Sudhir said that the concept paper for trade in local currencies was shared by India.
At November 25 market price, PNB’s 15 percent stake in the AMC will be worth about Rs 1,376 crore. Analysts point out that PNB has fallen short of peers when it comes to improvement in asset quality. For the July-September quarter of FY23, the bank reported a net profit of Rs 410 crore, which was lower than Street estimates.
Foreign banks are offering a higher rate of interest compared to leading private and public sector banks. These banks are offering interest rates as high as 7.25 percent.
Regulators around the world have already taken or are contemplating a variety of steps and policy measures to contain and manage the risks arising from big techs’ linkages with the banking and financial services sector
The bank's Executive Committee of the Central Board will meet on November 29 to consider raising funds through infrastructure bonds
"(The rupee) will depreciate a bit to 83 per dollar or so in the first half of 2023, but should strengthen after that," noted Ashima Goyal, External member RBI MPC.
If the idea is to retain Non-Banking Financial Companies as a critical layer in the world of formal finance, it makes sense to put them on par with banks in some areas.
Market participants said there was a need to harmonise tax rules on different financial products.
Speaking at an economics conclave organised by SBI, Khara also exuded confidence that the country's banking system will be able to maintain its high loan growth as banks have internalised learnings from the last high growth cycle.
Khara said learnings from the last cycle of high loan growth which ultimately led to a huge spurt in sour loans have been internalised by the banking system.
The new rule will come into force with immediate effect, the regulator said.
The validity of the directions was extended from time-to-time, the last being up to November 24, 2022
The reason, analysts say, is the widening wedge between credit and deposit growth, tight liquidity conditions and the prospects of a further pick-up in lending.
In a panel discussion, NBFC chiefs said that digitisation has sharply raised the potential of NBFCs, the approach to underwriting credit has changed, and joining hands with entities possessing specific skill sets will enable greater balance sheet growth. NBFCs must be careful about asset quality, while dealing with MSMEs, they said.
Dealers expect that India will try to increase its US Treasury holdings as these notes will be attractive even after their yields ease.
The People's Bank of China (PBOC), which has been driving the revamp at Ant after the Chinese firm's $37 billion IPO was scuttled at the last minute in 2020, is the regulator that is readying the fine, said five of the sources.
He has over 27 years of experience in commercial banks and asset management companies
These firms includes Housing Development Finance Corp (HDFC), Indian Oil Corporation (IOC), Rural Electrification Corp (REC), among others.
Vostro accounts are essential for correspondent banking and are usually held by a lender on behalf of their foreign counterpart.
The ratings agency predicts Axis Bank's weak loans could decline to 2.5 percent-3.0 percent of total customer loans by end-March 2023, from 3.7 percent as of March 31, 2022.
An estimated 1.5 crore Indians who have invested approximately Rs 15,000 crore in cryptocurrencies could get hurt if the government doesn’t regulate or ban cryptocurrencies without further ado
In the previous week's auction, the cut-off yield on T-Bills eased after rising for consecutive weeks. The cut-off yield on the 91-day T-Bill fell by 4 bps, while on the 182-day and 364-day T-bills it fell by 8 and 10 bps, respectively.
The Inspection Report and Risk Assessment Report of the bank based on its financial position as on March 31, 2021 revealed non-compliance with specific directions issued to the bank by RBI under Supervisory Action Framework (SAF), the RBI said.