• RBI against special NBFC window 21 May 2019 01:01 NEW DELHI: The Reserve Bank of India (RBI) is not keen on offering a lifeline to stressed non-banking finance companies (NBFCs), despite strong pitch by NITI Aayog and industry players. The government think tank has made a strong case for a special lending …
  • Rupee logs biggest gain in two months as exit polls predict return of NDA 20 May 2019 19:37 The rupee rose 0.69 per cent from its previous close on exit polls indicating strong performance for the incumbent National Democratic Alliance (NDA) government in the Lok Sabha elections. The possibility of NDA continuing in the government, and offering …
  • Emerging Markets Investors Too Wary of Trade, Local Risks to Buy the Dip 20 May 2019 17:29 Investors aren’t rushing to buy the dip as U.S.-China trade tensions escalate. The results of India’s elections are due this week, South Africa will decide on interest rates and Argentinian investors will be able to react to Cristina Fernandez de Kirchner’ …
  • Stocks, rupee rally on exit polls 20 May 2019 16:33 Indian stocks and currency recorded significant gains on Monday, reflecting a strong rebound in global investor confidence as Sunday's exit polls suggested a landslide win for Prime Minister Narendra Modi's coalition. As shares soared 3.75 per cent …
  • RBI to soon issue Rs 10 banknotes bearing sign of Governor Shaktikanta Das 20 May 2019 16:29 PTI| Updated: May 20, 2019, 09.29 PM IST BCCL The Reserve Bank will shortly issue Rs 10 denomination banknotes in Mahatma Gandhi (new) series bearing the signature of Shaktikanta Das, Governor, RBI said in a release. Reserve Bank of India Monday said it …
  • Opening Bell: Europe, U.S. Futures Tumble As Huawei Ban Hits Tech Market 20 May 2019 12:19 Europe, U.S. futures take a hit from tech firms halting business with Huawei Treasury yields pare last week's gains, potentially bottoming out - but later reverse on risk off shift WTI climbs on OPEC signals of continued supply cuts Key Events Europe…
  • How to reform India’s financial sector 20 May 2019 12:11 A well-functioning financial sector is crucial to growth but, as India’s ailing banks demonstrate, India’s financial sector is far from efficient. To address this, in 2013, the Financial Sector Legislative Reforms Commission (FSLRC) drafted the India …
  • Tripura Gramin Bank posts profit for 7 successive years 20 May 2019 11:09 Agartala, May 20 (IANS) Posting net profit for seven consecutive years, the Tripura Gramin Bank (TGB) is among India’s top three out of 46 regional rural banks (RRBs) in terms of profit, business and growth, TGB Chairman Mahendra Mohan Goswami said on …
  • A special borrowing window: Inside RBI's blueprint for the great Indian NBFC rescue 20 May 2019 10:12 With the elections finally out of the way, India's floundering non-banking finance companies may soon have their saviour in a special borrowing window tailor-made for them. The Reserve Bank of India is likely to begin consultations on the draft …
  • As election dust settles, jobs, trade, security high on government's to-do list 20 May 2019 09:51 Unemployment rose to 7.6 per cent in April, the highest since October 2016, and up from 6.71 per cent in March. New Delhi: Exit polls after the end of India’s general election on Sunday showed Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP) and …
  • One-third of EU firms hit hard by US-China trade war 20 May 2019 09:39 The increasingly bitter trade dispute between the US and China is hurting one-third of EU companies operating in China, the European Union Chamber of Commerce in China said on Monday. The industry body commissioned a survey to find out how recent tariff …
  • Build up midcap, smallcaps and let economic returns flow 20 May 2019 09:33 Dramatic change in the way you look at the system is a key order for this economy to come back into a chugging mode, said Ajay Srivastava, CEO, Dimensions Corporate Finance Services, in an interview with ETNOW. Edited excerpts: Are you a buyer today? Of …
  • Indian elections: 5 tasks for the new government 20 May 2019 09:32 Creating jobs, strengthening the economy and improving ties with Pakistan are top priorities. Exit polls after the end of India's general election on Sunday showed Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) and its allies retaining …
  • Forex - Dollar Edges Back Toward 2-Year High; Aussie Surges 20 May 2019 07:23 Investing.com -- The dollar is pushing toward the two-year high it hit in April in early trading in Europe on Monday, after election victories for business-friendly incumbents in Australia and India offset ongoing worries over trade relations between the U …
  • Let's find new ways to clean up banking 20 May 2019 06:39 'In their over-enthusiasm to clean up the system, both the banks and the regulator should not forget that the key to the insolvency law is revival of companies -- recovery of bank dues is an offshoot of that,' points out Tamal Bandyopadhyay. The …
  • Lok Sabha polls 2019: Why do elections tend to influence the stock markets? 20 May 2019 05:38 Prior to any major election there is a lot of noise regarding the impact of the election outcome on stock markets. While it is generally perceived that elections do not matter in the long run, the truth is a bit more complicated than that. Interestingly, …
  • Economic growth remains weak at 2% in Q1’19-Analysts forecast 20 May 2019 04:16     Rising inflation to halt MPC’s pro growth direction ERGP targets becoming unachievable —Experts By Babajide Komolafe AHEAD of today’s release of the data on Nigeria’s Gross Domestic Product ,GDP, for the first quarter of 2019 (Q1’19), by the Nigeria …
  • Business Maverick: Mon, May 20: Five Things You Need to Know to Start Your Day 20 May 2019 01:09 India’s Modi Set for Return  Prime Minister Narendra Modi is likely to triumph in India’s general elections and may even win an outright majority. Exit polls released Sunday night show his Bharatiya Janata Party-led National Democratic Alliance will win …
  • Monitor’s test 19 May 2019 22:53 From this author n the long term, the current impasse within presents a challenge for an institution that has been losing its sheen in recent times. But in the short term, the EC needs to resolve the differences at the top since the tensions seem to have …
  • ICICI-Videocon loan case: Kochhar contests bonus clawback, ESOP termination 19 May 2019 20:53 ICICI Bank former managing director (MD) and chief executive officer (CEO) Chanda Kochhar has sent a legal letter to the private lender, objecting to the way her resignation was treated as termination, refusing to give back the money she got as bonuses and …
  • Statsguru: RBI's Monetary Policy Committee stares at a tough decision 19 May 2019 19:17 The Monetary Policy Committee of the Reserve Bank of India (RBI) could see itself in a fix when it meets in June. While on the one hand, this will be the first meeting under a new government, on the other, inflationary pressures are likely to overpower …
  • New vehicle for long-term infra finance on the anvil 19 May 2019 18:42 India is proposing to create a new entity for financing infrastructure that will seek to bolster lower-rated bonds issued by companies in the sector. The National Housing Bank (NHB), National Bank for Agriculture and Rural Development (Nabard) and India …
  • Exit polls cheer India's ruling party; markets set to rally 19 May 2019 15:51 MUMBAI/BENGALURU (Reuters) - Indian equities, rupee and bonds are set to rally on Monday after almost all exit polls suggested that the Prime Minister Narendra Modi-led National Democratic Alliance (NDA) was likely to secure a clear mandate at the 2019 …
  • NBFC crisis to top agenda of new govt 19 May 2019 15:35 Finding a solution to the continuing turmoil in the NBFC sector, which has been facing an asset-liability mismatch as well as funding issues, is set to top the agenda of the new government at the Centre. The distress among non-banking financial companies …
  • RBI's vision document on payment systems to spur digital economy: Fintech firms 19 May 2019 09:18 New Delhi, May 19 () The RBI's 'Payment Systems Vision 2021' document would act as a catalyst for promoting digital economy and instill confidence among the general public, fintech companies say. Aiming at a 'cash-lite' society, the …
  • Creditors expect increase in realisations through IBC despite hiccups 19 May 2019 06:13 Innumerable litigations, defiant promoters, failing sectors and over-burdened National Company Law Tribunals (NCLTs) have negatively impacted corporate insolvency resolution process under the Insolvency and Bankruptcy Code (IBC) over the past two years, …
  • View: Bhakt goggles? Why jobs became secondary in this poll campaign 19 May 2019 05:48 As we wait for the end of this long election season, one of the big questions that has flummoxed all liberals and those fighting the BJP is why Brand Modi still seems relatively impervious to the problem of falling job-creation and several declining …
  • Number of banking complaints up 18% in Chennai zone 19 May 2019 04:37 The number of banking complaints received by Banking Ombudsman in Chennai has increased 18.2% to 10,642, accounting for 6.5% of the total complaints received across the country. According to the annual report on the Banking Ombudsman Scheme from July 1, …
  • State of economy-V: Job crisis continues to worsen 19 May 2019 04:16 New Delhi, May 19 (IANS) The ruling NDA government won a landslide in 2014 on a promise that it will produce jobs. Five years down the line, India is staring at one of the worst job crisis ever. A report citing National Sample Survey Office’s Periodic …
  • What is India’s stand on data storage? 18 May 2019 21:24 The story so far: Facebook’s Mark Zuckerberg recently expressed apprehension about nations wanting to store data locally. According to him, it gave rise to possibilities where authoritarian governments would have access to data for possible misuse. In an …
  • Kerala's masala bonds could be one-off offering after the tax rebate window 18 May 2019 17:56 The state-owned Kerala Infrastructure Investment Fund Board’s (KIIFB) rupee-denominated masala bonds could be a one-off offering for now as it was issued after the tax rebate window closed in March. KIIFB had registered for issuance before the March 31 …
  • India's Future Supply Chain Solutions Posts March-Qtr Net Profit 18 May 2019 11:52 May 14 (Reuters) - Future Supply Chain Solutions Ltd ::APPROVED DIVESTING/SALE UP TO 100% INVESTMENT HELD BY THE COMPANY IN VULCAN EXPRESS PRIVATE LIMITED.  Full Article April 9 (Reuters) - Reserve Bank of India::RAISES FOREIGN PORTFOLIO INVESTORS …
  • Debit card PoS swipes rise 27% as per RBI data 18 May 2019 04:47 BENGALURU: Indians are increasingly using their debit cards to pay merchants directly. As per data from the Reserve Bank of India, debit card swipes on Point of Sales (PoS) terminals jumped more than 27% in March 2019 compared to corresponding period last …
  • Ujjivan Small Finance Bank appoints Nitin Chugh as MD, CEO from December 1 18 May 2019 02:13 NEW DELHI: Ujjivan Small Finance Bank, a subsidiary of the listed entity Ujjivan Financial Services, Friday announced the appointment of Nitin Chugh as its MD and CEO for a period of three years with effect from December 1, 2019. The Reserve Bank of India …
  • JSW Energy to focus only on power, back in black in Q4 18 May 2019 02:08 MUMBAI: JSW Energy has decided to focus only on power and dropped all its diversification initiatives after its plan to enter the electric vehicle manufacturing business was shelved. The company scrapped its plans to invest Rs 6,500 crore over the next 3-5 …
  • The other side of Bob Hawke: What Australia's best loved PM was also well known for 18 May 2019 01:01 Bob Hawke, one of Australia's greatest prime ministers, combined a potent mixture of political and personal qualities. Labor's most successful federal leader, who presided over the modernisation of Australia's economy, was a larrikin with a …
  • Soon, non-banking companies may verify via eKYC 18 May 2019 01:00 BENGALURU: Digital finance companies could be allowed to verify customer antecedents through the Aadhaar database, according to a note that envisages grant of the electronic KYC facility to non-banking firms. It will be a significant gain for mobile …
  • Fintech sees a blueprint in RBI’s 3 year payments vision 18 May 2019 00:55 BENGALURU: The Reserve Bank of India’s three-year vision for payments and settlements systems will offer huge opportunities for technology-enabled disruptions in finance, say fintech players. Merchant acquisition of non-banks, participation of private …
  • Nandan Nilekani committee submits report on payments to RBI 17 May 2019 20:13 MUMBAI: Nandan Nilekani led high-level committee on deepening digital payments today submitted their report to the Reserve Bank of India on Friday, the central bank said in a press release. The five-member team was formed in January this year to consult …
  • Ujjivan to become a mass market bank under Nitin Chugh, says current CEO Samit Ghosh 17 May 2019 20:13 KOLKATA: Ujjivan Small Finance Bank has roped in HDFC Bank's digital banking head Nitin Chugh as its next managing director & chief executive officer. Chugh will join Ujjivan in August and will work closely with current MD & CEO Samit Ghosh for …
  • Appointment of R Gandhi as additional director a positive move: Yes Bank 17 May 2019 18:39 MUMBAI: Yes Bank on Friday said appointment of former RBI deputy governor R Gandhi as an additional director on its board is a positive move which will not impede smooth functioning at the private sector lender. Welcoming the appointment in a statement, …
  • As UK looks for new Bank of England boss, buzz around Raghuram Rajan 17 May 2019 18:32 The race to lead the Bank of England (BOE) could turn on who heads the government by the time the decision is made in October. Much has been made of Chancellor the Exchequer Philip Hammond’s comments that he seeking a governor with international stature, …
  • R Gandhi's appointment to help strengthen board, says Yes Bank 17 May 2019 18:17 Mumbai: Yes Bank on Friday said the appointment of former deputy governor of the Reserve Bank of India, R Gandhi, on the board is aimed at strengthening the bank. In a notice to stock exchanges, the private sector lender also said the appointment was in …
  • India’s Forex reserve rises to over $420 billion 17 May 2019 18:13 Mumbai, May 17 (IANS) India’s foreign exchange reserves increased by $1.368 billion during the week ended May 10, official data showed on Friday. According to the Reserve Bank of India’s weekly statistical supplement, the overall forex reserves rose to $ …
  • Union Bank's elevated credit costs, bad loans to hit capital position: S&P 17 May 2019 15:25 Global rating agency Standard and Poor’s has said that elevated credit costs and provisions for bad loans, will continue to weigh on the Union Bank of India’s earnings profile, adversely impacting the lender's capital position. The Mumbai-based public …
  • Ujjivan Small Finance Bank appoints Nitin Chugh as its next MD & CEO 17 May 2019 13:17 Ujjivan Small Finance Bank Limited has announced the appointment of Nitin Chugh as its next Managing Director & CEO from December 1, 2019. This appointment comes at the end of an extensive search undertaken by the board as a part of the succession …
  • R Gandhi's appointment to YES Bank board may be precautionary: Macquarie 17 May 2019 10:09 The Reserve Bank's appointment of an additional director to the board of Yes Bank could be a precautionary move in view of the lender's weak capital position and stress in the balance sheet, investment bank Macquarie said. Earlier this week, the …
  • YES Bank claws back performance bonus of Rana Kapoor 17 May 2019 08:13 YES Bank said that it has not paid any bonus to Kapoor for FY17 and FY18. He drew a salary of Rs 6.48 crore for the ten months he served as MD & CEO, before his tenure ended in January. YES Bank retracted the performance bonus of Rs 1.44 crore of …
  • India grows impatient for revival PM Modi promised 17 May 2019 07:56 By Peter S. Goodman LUNSU VILLAGE: Across the Kangra Valley, in the hills below the snow-capped peaks of the Himalayas, the promise of a modern railway reverberated like the beginning of something vital — access to jobs, hospitals, universities and shops. …
  • RBI to bank on data analytics for timely fraud detection 17 May 2019 05:48 MUMBAI: The Reserve Bank of India (RBI) will promote the use of data analytics to identify cases of fraud and help instant response and recovery actions, such as blocking irregular transactions before payment authorisation. This and a raft of measures are …
  • Is there a possibility of next rate cut? 17 May 2019 03:32 Probably in August. We can argue whether RBI is dovishly neutral or neutrally dovish but the telltale signs of at least one more rate cut are strewn all over the policy statement, points out Tamal Bandyopadhyay. IMAGE: RBI Governor Shaktikanta Das. …
  • YES Bank claws back Rs 1.44-crore performance bonus of ex-MD Rana Kapoor 16 May 2019 21:38 YES Bank retracted the performance bonus of Rs 1.44 crore of former Managing Director and Chief Executive Officer Rana Kapoor, whose term was cut short by the Reserve Bank of India (RBI) in October last year. “The board of directors of the bank had …
  • Modi accused of holding rally on scamster’s ground 16 May 2019 20:33 Mathurapur (West Bengal), May 17 (IANS) West Bengal Chief Minister Mamata Banerjee on Thursday alleged that Prime Minister Narendra Modi’s election rally in Bengal’s Mathurapur constituency was held at a ground which belongs to the owner of an illegal …
  • Tamil Nadu private sugar mills plead for relief due to shortage of rain 16 May 2019 19:34 Around half the private sugar mills in Tamil Nadu are financially stressed, with many having suspended operations. The problem is a shortage of rain in four of the past five years, hitting cane availability. Less cane being crushed also translates to a …
  • India's shadow banks must appoint risk officers -RBI 16 May 2019 17:18 (Recasts, adds background) NEW DELHI, May 16 (Reuters) - Indian shadow banks with more than 50 billion rupees ($714 million) in assets must appoint a chief risk officer, the central bank said on Thursday, as it tightens regulations after a series of …
  • Bank of India back in the black in Q4 16 May 2019 15:39 Mumbai: Public sector lender Bank of India returned in the black after two quarters by posting a profit of Rs 252 crore for the quarter ended March 31 against a loss of Rs 3969 crore during the same period last year. A significant decline in bad loan …
  • India's RBI asks shadow banking companies to appoint risk officers 16 May 2019 14:12 NEW DELHI, May 16 (Reuters) - India’s central bank said on Thursday that shadow banks with asset size of more than 50 billion rupees should appoint a chief risk officer in a move to tighten regulation after a series of defaults at top lender Infrastructure …
  • Value of UPI transactions beat cards in first three months of Q4: NPCI 16 May 2019 12:28 The Unified Payments Interface (UPI) has surpassed debit and credit cards in terms of transactions. The aggregate volume of transactions through the UPI - the government’s flagship payments platform - has crossed that of credit and debit card transactions …
  • A Peek Into The Markets: US Stock Futures Rise Ahead Of Walmart Earnings 16 May 2019 11:06 Pre-open movers U.S. stock futures traded higher in early pre-market trade, ahead of earnings from Walmart Inc. (NYSE: WMT). Data on housing starts for April and initial jobless claims for the latest week and the Philadelphia Fed's manufacturing index …
  • YES Bank hits over three-year low; tanks 43% in three weeks post Q4 results 16 May 2019 09:33 Shares of private lender YES Bank continued to reel under pressure, hitting 38 months low of Rs 136 apiece, down 6 per cent intra-day on the BSE. The stock was trading at its lowest level since February 29, 2016. The market price of the lender has slipped …
  • India’s Modi Promised Better Days and Bridges. Voters Are Still Waiting. 16 May 2019 09:18 LUNSU VILLAGE, India — Across the Kangra Valley, in the hills below the snow-capped peaks of the Himalayas, the promise of a modern railway reverberated like the beginning of something vital — access to jobs, hospitals, universities, and shops. Many …
  • Funding crisis to worsen unless India pumps in cash: Kotak 16 May 2019 04:19 By- Anurag Joshi and Ronojoy Mazumdar India needs to pump more cash into its financial system to prevent a worsening of the funding crisis among shadow banks and the corporate sector, according to one of the nation’s biggest money managers. Non-banking …
  • Federal Bank to avoid lending to lower-rated NBFCs, says Shyam Srinivasan 16 May 2019 04:13 Mumbai: Kerala-based private sector lender, Federal Bank is now more cautious than ever on lending to the non-banking financial companies (NBFCs). Following the defaults and liquidity crunch in the sector, the bank has decided not to renew credit lines to …
  • YES Bank slumps 5 per cent after RBI puts Gandhi on board 16 May 2019 03:28 Yes Bank finally closed 8.01 per cent down on BSE at Rs 143.65 and at Rs 142.95 on NSE. Mumbai: Yes Bank shares touched a new 52 week low as they fell more than 8 per cent responding to the Reserve Bank of India appointing late on Tuesday, R Gandhi, former …
  • YES Bank troubles run deeper than investors believe; cleanup will be tough 16 May 2019 02:46 It's no secret that India's banking regulator hates having its officials sit on the boards of state-run lenders. The practice exposes the Reserve Bank of India to all kinds of potential conflicts it would rather avoid. So when the RBI used its …
  • RBI tightens vigil on Yes Bank with ex-deputy governor on board 16 May 2019 02:20 Mumbai: With the appointment of former deputy governor R Gandhi as additional director on the Yes Bank board, the Reserve Bank of India has backed the clean-up efforts of the management. Gandhi’s appointment may help the Yes Bank management face investor …
  • RBI releases payments systems roadmap for a ‘cash-lite’ India 16 May 2019 01:47 Mumbai: A four-fold increase in digital payments, reduction in paper-based transactions, improved pricing, better customer grievance redressal mechanisms and establishment of new payment system operators (PSO) are among the list of twelve objectives the …
  • Yes, Bank on Things Being Worse Than They Look 16 May 2019 01:24 By Andy Mukherjee | Bloomberg May 15 at 9:17 PM It’s no secret that India’s banking regulator hates having its officials sit on the boards of state-run lenders. The practice exposes the Reserve Bank of India to all kinds of potential conflicts it would …
  • Audit report finds 107 cases of shady lending at IL&FS 16 May 2019 00:43 New Delhi: In a latest twist to the financial frauds at IL&FS, an audit report has found about 107 instances of loan evergreening, loans given without adequate collateral and management links with borrower companies. The report submitted by Grant …
  • RBI appoints R Gandhi on board of YES Bank 15 May 2019 22:06   The Reserve Bank of India seems to be continuing its close watch on developments at private sector lender YES Bank, leaving investors a worried lot as the bank’s scrip fell 8 per cent on Wednesday. The private sector lender’s scrip fell 8.01 per cent and …
  • India's services exports rise 6.6% in March; services imports up by 10.55% 15 May 2019 16:59 India's services exports rose by 6.6 per cent to $17.94 billion in March, according to the data released by the Reserve Bank Wednesday. Services imports in March too grew by 10.55 per cent to $11.37 billion. The trade balance in services for the month …
  • India's services exports rise 6.6% to $17.94 bn in March 15 May 2019 16:39 India's services exports rose by 6.6 per cent to USD 17.94 billion in March, according to the data released by the Reserve Bank Wednesday. Services imports in March too grew by 10.55 per cent to USD 11.37 billion. The trade balance in services for the …
  • RBI appoints former dy-guv Gandhi on Yes Bank board 15 May 2019 16:23 New Delhi: Yes Bank said on Wednesday the Reserve Bank has appointed former RBI deputy governor R Gandhi as an additional director on its board for two years. “The Reserve Bank of India vide its letter dated May 14, 2019, informed that in exercise of …
  • Yes Bank shares tumble over 8 pc; m-cap drops by Rs 2,873 cr 15 May 2019 15:17 New Delhi, May 15 () Shares of Yes Bank plummeted over 8 per cent Wednesday after the RBI appointed an additional director on the board of the private sector lender. In a rare move, the Reserve Bank of India appointed its former deputy governor R Gandhi on …
  • RBI’s ex-Deputy Governor Gandhi joins Yes Bank board 15 May 2019 13:27 Mumbai, May 15 (IANS) Private lender Yes Bank on Wednesday said that Reserve Bank of India’s former Deputy Governor R. Gandhi has joined its Board as Additional Director. According to a BSE filing, Gandhi joined the Board for a period of 2 years with …
  • After Market: Lupin, Jet, Yes Bank take big hit; metal stocks worst hit 15 May 2019 13:12 NEW DELHI: The domestic equity market failed to hold the gains that it had logged on Tuesday as investors took money off the table amid mixed global cues. Sentiments remained fragile as the rupee edged up against the dollar, following a drop in crude oil …
  • A Peek Into The Markets: US Stock Futures Down Ahead Of Macy's Earnings, Economic Data 15 May 2019 11:49 Pre-open movers U.S. stock futures traded lower in early pre-market trade, ahead of earnings from Macy's, Inc. (NYSE: M). Data on retail sales for April and the Empire State manufacturing index for May will be released at 8:30 a.m. ET. Data on …
  • Indian shares end in the red; Yes Bank marks lowest close in 3 yrs 15 May 2019 10:57 * NSE and BSE indexes close 0.6 pct lower * Yes Bank hits worst close since Feb 2016 BENGALURU, May 15 (Reuters) - Indian shares shed early gains to end lower on Wednesday, dented by Yes Bank Ltd and Tata Motors Ltd, as uncertainty over the outcome of the …
  • Next Indian government seen relying on central bank rate cuts to spur growth 15 May 2019 09:39 By Aftab Ahmed NEW DELHI (Reuters) - India's slowing economy will need a boost soon after the current election but budget stresses mean New Delhi probably has to rely on the central bank to provide it through more interest rate cuts, according to two …
  • RBI appoints R Gandhi on YES Bank board 15 May 2019 07:39 The Reserve Bank of India has appointed its former Deputy Governor, R Gandhi, on the board of private sector lender YES Bank as an additional director. "This is to inform you that the RBI... in exercise of powers conferred under sub-section (1) of …
  • YES Bank hits five-month low; stock tanks 44% in a month 15 May 2019 05:57 YES Bank shares hit five-month low of Rs 149, down 5 per cent, on the BSE in early morning trade after the Reserve Bank of India (RBI) appointed former deputy governor Rama Subramaniam Gandhi as an additional director on the board of the private sector …
  • Stocks in the news: Lupin, Jet Airways, Nestle India, DHFL and JSW Steel 15 May 2019 04:06 NEW DELHI: Nifty futures on the Singapore Exchange were trading 14.50 points, or 0.13 per cent, lower at 11,246.50, indicating a negative start for the Nifty50. Here are a few stocks which may buzz the most in today’s trade: Lupin, Adani Green: Lupin, …
  • State of Economy-I: Vital economic indicators suggest a longer slowdown 15 May 2019 03:20 New Delhi, May 15 (IANS) The political discourse this election season has grabbed the attention of the voters, but it offers little to soothe them as the Indian economy is far from being in good shape. The economy, which braved a global slowdown and …
  • Liquidity deficit of Rs 40,859 crore: Banks feel squeeze on lower spend by govt in poll season 15 May 2019 02:10 MUMBAI: A slump in government spending amid ongoing elections has resulted in a cash shortage in the banking system. The deficit is pegged at Rs 40,859 crore compared with a Rs 15,857 crore surplus at the same time last year, according to data from the …
  • Why finding an ATM in India is getting tougher even as people use them more 15 May 2019 01:50 Finding an ATM in India is getting tougher even as dependence on cash persists, thanks to tighter regulations that make it more costly to run the machines. The number of automated teller machines in the country shrank in the past two years despite an …
  • India will soon have to decide on sharing daily US dollar-Rupee rate with overseas exchanges 15 May 2019 01:24 MUMBAI: India will soon have to take a call on whether to officially share the US dollar-rupee reference rate with overseas exchanges, fund houses, corporates and banks. The benchmark rate is used to settle millions of trades and currency derivative …
  • Combatting bank loan defaults through Right to Information 15 May 2019 00:17 Bank loan defaults and their harmful impacts on the economy are not matters of public concern in Bangladesh alone. It has agitated the public mind in neighbouring India for a long time. A recent directive of the Supreme Court of India has some lessons for …
  • India’s poor billionaires 14 May 2019 23:31 Most of our billionaires are, factually speaking, the poorest in India. We do not know the exact extent of debts that our corporate giants own individually to banks. (Illustration: CR Sasikumar) Language is a unique gift, and it needs to be used with care …
  • Of shells, companies and GDP 14 May 2019 19:35 About a third of non-government non-financial companies in the services sector are not traceable is the finding of a National Sample Survey Office (NSSO) survey for 2016-17 that has just been released. Since such entities could be shell/fake/bogus …
  • IBC recovery rate for cases in FY19 races ahead of other mechanisms: CRISIL 14 May 2019 14:41 The recovery rate of the 94 cases resolved so far under the insolvency and bankruptcy code (IBC) is higher than the recoveries made through other mechanisms, said a report by credit rating agency CRISIL. Additionally, the recovery rate is twice the …
  • Resolving India’s banking crisis 14 May 2019 01:12 The government that assumes office after the general election will have to crack a serious and unresolved problem: India’s banking sector. To do so, it needs clarity on how the problem arose in the first place. Only then can it discard simplistic and …
  • Commentary: Disrupted, India’s future hangs in the balance – and in hands of voters 14 May 2019 00:13 SINGAPORE: India began its month-long election on Apr 11. About 900 million eligible Indian voters have headed or will be heading to polling stations, with the final ballot cast on May 19. This will be the largest election the world has ever seen. …
  • OP-ED: The importance of physical places – boosting productivity where geographical imbalances lie 14 May 2019 00:03 Samuel Zeller on Unsplash. After leaving Goldman Sachs in May 2013, I had the privilege of chairing an independent City Growth Commission to study the geographical imbalances of the British economy. Our task was to determine why London and the south-east …
  • India April inflation hits six-month high; keeps rate cut hopes alive 13 May 2019 14:27 By Aftab Ahmed NEW DELHI (Reuters) - India's retail inflation rate hit a six-month high in April, due to bigger increases in food prices, but remained below the central bank's target for a ninth month, keeping hopes alive for a June cut in the key …
  • RBI finds why there's a dip in bank deposits 13 May 2019 13:48 What’s causing deposit growth rates to slow? Mutual funds? Gold? Property? None of these, says a central bank research paper. Rather, deposits quicken when incomes rise fast — and the latter is often aided by a robust economy. Household savings data show …
  • Indian bitcoin players wary of Facebook’s stablecoin 13 May 2019 13:47 CHENNAI: Indian companies in the cryptocurrency space say Facebook’s reported plan to test its virtual currency code-named Libra in the country will potentially bypass regulations that doesn’t allow using banking channels for digital currency transactions. …
  • RBI study finds why there's a dip in bank deposits 12 May 2019 19:51 What’s causing deposit growth rates to slow? Mutual funds? Gold? Property? None of these, says a central bank research paper. Rather, deposits quicken when incomes rise fast — and the latter is often aided by a robust economy. Household savings data show …
  • Controlling inflation: why the State Bank of Pakistan should be autonomous 11 May 2019 08:56 It is encouraging to see the appointment of Reza Baqir, a trained economist, as governor SBP. The rise in the interest rate as well as the depreciation of the rupee against the US dollar have both become topical issues in recent months. What is considered …
  • Raghuram Rajan gains ground in race for Bank of England governor 09 May 2019 09:27 By Bloomberg Former Reserve Bank of India chief Raghuram Rajan is moving up in the race to be the next Bank of England governor. U.K. Chancellor of the Exchequer Philip Hammond started his search in April for a successor to Mark Carney, who is due to leave …
  • Raghuram Rajan top contender for Bank of England Governor post: Report 09 May 2019 07:57 Former Reserve Bank of India (RBI) chief Raghuram Rajan is “moving up in the race to be the next Bank of England governor", news agency Bloomberg reported today. However, Dr Rajan had last year said that he did not intend to apply for the job of Bank …