The BP Kanungo committee recommends guidelines for gold loan companies for serving notice to the nominee or legal heir to settle the outstanding in case of death of the borrower, auction of gold, surplus to be refunded from auction of gold and more.
India is in a Goldilocks scenario with strong GDP numbers and moderation in inflation. Considering the uncertainty about the Fed and the El Nino risk, MPC will likely send a dovish message tomorrow
Outstanding Tier-I bonds are expected to increase slightly to Rs 1.3 lakh crore by March 2024 from Rs 1.2 lakh in March 2023, ICRA said in a report
This is the fourth reverse repo auction in last four days to remove excess liquidity from the banking system
Currently, there are more than 15 SEBI-recognised online bond trading platforms in India.
The VRRR is usually undertaken to withdraw excess liquidity from the banking system
The Reserve Bank of India will likely set cutoff yields for the 10-year bonds in the 7.32%-7.35% band, according to a Reuters poll of 13 traders.
Banks in India have been reluctant to park their surplus liquidity with the Reserve Bank of India (RBI) for longer periods of time to avoid the risk of a potential shortfall - an approach the RBI would like changed as surplus money in the system could potentially prove inflationary.
While the RBI may keep policy rates unchanged, any alteration in the stance would be seen as dovish by the markets.
These banks are Kokan Mercantile Co-operative Bank, Bajirao Appa Sahakari Bank, Sawantwadi Urban Co-operative Bank and Shri Laxmi Sahakari Bank
The central bank has set up this panel on May 23, 2022.
At present, the weighted average overnight call money rate is trading at 6.3432 percent whereas the repo rate is at 6.50 percent.
The VRRR is usually undertaken to withdraw excess liquidity from the banking system.
The penalty was imposed due to the bank's failure to make minimum mandatory transfer of a sum equivalent to 25 percent of its disclosed profit, and divergence between NPAs reported and assessed
The central bank on April 8 during monetary policy had said it will issue these directions
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
The VRRR is usually undertaken to withdraw excess liquidity from the system.
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.
Evergreening is more sinister now as banks are indulging in the practice despite having complete knowledge of the risks involved.
On May 19, the RBI announced the withdrawal of Rs 2,000 notes from circulation.
The lightweight payment and settlement system will help make smooth payments during emergency situations and keep the liquidity pipeline of the economy alive and intact, according to the RBI.
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.
The continued poor performance of manufacturing on which government relies to generate jobs and absorb surplus labour from agriculture is a cause for concern on the growth front.
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
Municipal bonds are issued by civic bodies to finance urban infrastructure projects.