Saikat Das

The Reserve Bank of India (RBI) on Friday imposed penalty of Rs 50 lakh to 2 crore on six more state-owned banks for violation of Know Your Customer (KYC) and anti-money laundering (ALM) norms. Those public sector lenders included Allahabad Bank, Bank of Maharashtra, Corporation Bank, Dena Bank, IDBI Bank, and Indian Bank.

RBI issues fresh measures to bail out banks, mkts to rally

The Reserve Bank of India (RBI) on Tuesday late evening issued another set of measures, aimed at twin purposes: arresting dip in long term bond yields and shielding banks from incurring financial losses due to declining bond prices.

Here's why the bloodbath continued in rupee-bond markets

A raft of measures taken by the Reserve Bank of India (RBI) seems to have fallen flat. The Indian rupee on Monday closed all time record low at 63.13 as against the US dollar. The 10-year benchmark bond yield spiked nearly 35 basis points to 9.23 percent.

RBI takes further step to stem rupee's slide against USD

As expected the Reserve Bank of India (RBI) further curbed the availibility of funds (liquidity) in the markets to stem the rupee's free fall against the US dollar. The central bank will now auction the government of India cash management bills (CMBs) to raise Rs 22,000 crore on every Monday.

3 reasons why betting on equities still makes sense

Investors are ready to pay higher premium for quality stocks as uncertainties continue. A better-than-expected monsoon will drive rural consumption while a depreciating rupee would bless export oriented sectors like information technology, says Prasad Koparkar of Crisil.

Raghuram Rajan appointed 23rd RBI governor

Raghuram Govind Rajan, the country's chief economic advisor to the Finance Ministry, will take up the mantle of governorship in the Reserve Bank of India (RBI) from September 5. The present incumbent - D Subbarao will demit his office on September 4, this year.

Back to normal: RBI puts up long-term govt bonds for sale

The Reserve Bank of India (RBI) will put up four government bonds of different tenures and interest rates for sales to raise Rs 15,000 crore on August 08, 2013. Unlike the previous auction announcement, the central bank apparently brought back normalcy by including some long term securities.

Here's how Telangana bifurcation impacted RBI bond auction

With the latest yield, according to bond traders, the state beat West Bengal that was offering the highest yield in earlier auctions. The eastern state is now ranked second with a cut-off yield at 9.72 percent in the state loan auctions dated July 31.

Here's how ICICI Bank will expand its loans & deposits

ICICI Bank - khayaal aapka, the ad campaign apparently aimed at wooing retail customers, may now raise further decibels. Reason: It is you, a house buyer or car owner and a routine depositor, who emerges as the safest bet for India's largest private sector lender. The bank will focus more on its retail segment be it loans or deposits.

RBI Credit Policy: Leaves key rates unchanged, reflects no hawkish stance

The RBI in its first quarter (April-June, 2013-14) monetary policy left key rates unchanged hinting at rate cuts in future subject to market stability. With this, D Subbarao, the governor who had taken the central bank assignment in September, 2008; presented his last quarterly policy before he hangs up his boots in September this year.

Is RBI June quarter policy a non-event?

The Indian rupee recently hit record low at 61.32/USD. Since May, it has lost more than 11 percent against the greenback. This along with the widening current account deficit (CAD) have prompted the authorities to burn the midnight oil to devise strategies in wooing overseas investors.

Here's why govt bonds remained unsold at RBI auction

The RBI, on Friday, came out with results of the bond auction to raise Rs 15,000 crore by selling soverign four securities. However, there was a devolvement on primary dealers to the tune of 1,330 crore on two papers. This was, however, lower than market expectation.

RBI tightens daily borrowing norms to douse rupee fire

Just a week ahead of its first quarter monetary policy, the central bank tweaked some borrowing measures by banks, which is likely to make money costlier by raising demand for rupee.

Open to setting up a bank, says Bajaj Finance

Meanwhile, the company is leaving no stone unturned to lay a concrete foundation for its banking forays. The non-banking finance company (NBFC) owned by the renowned Bajaj group is so far known for serving affluent customers.

Post HDFC Q1: Shares fell, should investors worry?

Investors had rewarded the largest mortgage lender HDFC on its Jan-March quarterly performance. Shares had hit 52 weeks high at Rs 895. However, the exuberance did not recur just after three months when HDFC shares dropped more than 3 percent to close at Rs 803 on Friday. Have the fundamentals changed for HDFC?

Sebi, NSE ban 26 entities from trading in two cases

The SEBI and the NSE on Thursday banned 26 entities from trading in the stock market. The decision came at a time when both the authorities are conducting an investigation on the trading activity of Gitanjali Gems and Prime Broking Company, a subsidiary of Prime Securities.

Government gives nod to hike FDI caps in 13 sectors

A beleaguered government on Tuesday late evening announced a raft of investor friendly measures to woo overseas funds by easing foreign direct investment (FDI) caps in 13 sectors like insurance, commodities as well as stock exchanges, tea, telecom and others.

New hiring at Indian Banks' Association sparks controversy

The IBA sparked off a fresh controversy relating to an appointment for the post of chief executive, which will fall vacant after the existing incumbent - K Ramakrishnan demits office by July end. K R Kamath, the chairman of IBA is believed to have appointed M V Tanksale, the CMD of Central Bank of India as the new office bearer....

RBI opens new attack to clamp rupee free fall

In a major attack to clamp the further decline in the Indian rupee against the US dollar, the Reserve Bank of India (RBI) on Monday late evening issued a series of liquidity measures. Bonds yields are now expected to go up while a dearer rupee is likely to create a squeeze in funds availability. Consequently, the demand for rupee will rise.

Govt doles out extra dealer commissions in bond market

Spooked by the flight of overseas investments in Indian securities, the government started doling out bounties on primary bond dealers (PDs) whose commissions have zoomed manifold. This is aimed at building confidence while protecting them from any possible loss if yields rise after the bond auctions, sources told moneycontrol.com.

Rupee recovers on RBI & SEBI measures, ends at 60.14/USD

The Indian rupee on Tuesday recouped some of its losses against US dollar after the authorities had introduced measures to arrest its free fall. The local currency ended at 60.14/USD, a rise of 48 paise or 0.80 percent higher than its previous close at 60.62, a record low closing rate.

SBI may raise home loan ticket size with likely spread cut

India's largest lender the State Bank of India may launch a new home loan product that would facilitate millions of home loan borrowers to avail higher credit limit at a lower interest rate. It is learnt to have already submitted the product proposal and it is awaiting for the final nod from an internal policy making body.

Court rejects IDFC Cap CEO bail plea in sexual abuse case

A Delhi district court has rejected the anticipatory bail plea of IDFC Capital CEO Tapasije Mishra in a case filed against him by a woman alleging sexual abuse, intimidation and breach of trust.

ICICI Bk to resume overseas forays; eyes SA, Aus, Mauritius

Resuming its international expansion plans in the aftermath of global financial crisis, India's largest private sector lender ICICI Bank is planning to expand its presence in three new geographies including Australia, Mauritius and South Africa (SA). It is likely to apply for branch licences in all these regions.

Bank-borrowings from RBI repo window hit 9-month low

Bank-borrowings from the Reserve Bank of India (RBI) on Wednesday dropped to nine-month low. Banks borrowed Rs 17,215 crore from the central bank's daily repo window compared with Rs 6,850 crore recorded on October 04, 2012. In banking parlance, it is called as easing in liquidity deficit.