• EY set for a hiring spree in India 16 Dec 2019 10:08 Mumbai: At a time when the Big Four accounting firms are facing increased regulatory scrutiny for audit lapses, market leader EY has stepped up hiring at its global delivery centres and member firms to rapidly scale up India operations. The firm is set to …
  • Outlook 2020: Global economy 16 Dec 2019 09:30 What is city talk? Info Info. Latest The global economy should perform better in 2020, underpinned by a US-China trade truce and lower interest rates, Schroders’ chief economist Keith Wade explains. We recently upgraded our 2020 global growth forecast to 2 …
  • Co-op banks may come under Banking Act 16 Dec 2019 09:27 The new framework will affect 1,551 UCBs in the country, which had a total business of Rs 7.36 trillion. Illustration: Uttam Ghosh/Rediff.com Large urban co-operative banks (UCBs) may come to be solely under the provisions of the Banking Regulation (BR …
  • Wholesale inflation tames to 0.58 per cent 16 Dec 2019 08:50 Wholesale inflation fell to 0.58 per cent in November 2019, down from 4.47 per cent in November 2018. Sequentially, wholesale inflation reported an increase, rising from 0.16 per cent in October 2019, according to a statement by the Ministry of Commerce …
  • RBI acted ahead of time in reducing policy rates: Shaktikanta Das 16 Dec 2019 08:46 The Reserve Bank of India Governor Shaktikanta Das on Monday said the monetary policy committee had acted ahead of time to cut policy rates as it had anticipated the slowdown. While speaking at the Times Network India Economic Conclave 2019, Das also …
  • RBI governor Shaktikanta Das hints at further rate cuts 16 Dec 2019 08:37 MUMBAI: Hinting at further rate cuts, Reserve Bank of India (RBI) governor Shaktikanta Das said that the central bank had paused in its rate cuts in December as it was waiting for an opportune time to ease policy. According to Das corporates, non-banking …
  • NEFT Timings and Charges 16 Dec 2019 08:27 From today you can transfer money online using the National Electronic Funds Transfer (NEFT) route 24x7, i.e., any time of the day and any day of the week. The Reserve Bank of India stated earlier on in the month, that bank customers will be able to …
  • RBI saw slowdown, acted ahead of time by cutting interest rates from Feb: Das 16 Dec 2019 08:26 “In the last MPC meeting when we took a pause, I don't know why the market was surprised, said RBI Gov Shaktikanta Das. Mumbai: Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday said the central bank had acted ahead of time by starting to …
  • NPCI sets up subsidiary for exporting UPI to international markets: RBI governor 16 Dec 2019 08:11 MUMBAI: The National Payments Corporation of India (NPCI) has setup a subsidiary to export the much acclaimed Unified Payment Interface or UPI for governments and central banks interested in implementing similar instant fund transfer in their countries, …
  • Coordinated steps needed globally to deal with slowdown: RBI Guv 16 Dec 2019 07:51 The Reserve Bank of India Governor, Shaktikanta Das, on Monday said there is a need for coordinated action by various economies confronted with slowdowns. “Globally, there should be coordination action to boost growth. European Union is experiencing stable …
  • Rethinking deposit insurance for Indian banks 16 Dec 2019 07:29 The crisis at the Punjab & Maharashtra (PMC) Bank, which left depositors high and dry, has led to a renewed clamour to raise the insurance cover for bank deposits in India. The government has signaled that the cover could be raised, partly to smooth …
  • PNB shares fall over 2 per cent after RBI flags under-reporting of NPAs 16 Dec 2019 07:23 By PTI NEW DELHI: Shares of Punjab National Bank on Monday fell over two per cent after the Reserve Bank of India said the lender under-reported its non-performing assets by Rs 2,617 crore for the last fiscal. Shares of PNB dropped 2.48 per cent to trade …
  • Is India's growth story over? Not quite. History shows there have been ups and downs in the past too 16 Dec 2019 06:30 The Reserve Bank of India has downgraded its forecast for growth in the current fiscal year to 5%. But going by the gloom that pervades our analysts and commentators, one would be tempted to think that the forecast is missing a minus sign in front of it. …
  • Govt took several steps for ease of doing biz: MCA 16 Dec 2019 06:07 New Delhi: The government has taken several measures this year for ease of doing business, besides strengthening the insolvency and bankruptcy framework, the Ministry of Corporate Affairs said. Under the Insolvency and Bankruptcy Code (IBC), 2016, of the …
  • Weak household consumption to curb growth: Moody’s 16 Dec 2019 06:00 Strap: Recent stimulus measures to have a limited impact, says the rating agency The pain of a lower growth rate is unlikely to recede soon with global rating agency Moody’s on Monday saying that weak household consumption will curb growth. It also …
  • Market Ahead, December 16: Top factors that could guide markets this week 16 Dec 2019 05:58 Easing global sentiments, GST council meet, and macro data will be the top factors driving the markets this week. While the US and China have reached their much-awaited 'phase one' trade deal, Boris Johnson's Conservative Party has won the UK …
  • PMC Bank depositors detained, CM assures help 16 Dec 2019 03:39 More than 50 depositors of the Punjab and Maharashtra Cooperative (PMC) Bank were detained by the police on Sunday after they protested outside Matoshree, the residence of Chief Minister Uddhav Thackeray. They were later let off. Later in the day, Mr. …
  • This tech may replace swipe machines 16 Dec 2019 03:18 Mumbai: The merchant at your neighbourhood store (kirana) may soon be able receive small-ticket payments on his smartphone for purchases you make using contactless cards. This is a step up from using hefty Point of Sale (POS) devices. Global payments major …
  • BIS report roots for India’s digital finance infra 16 Dec 2019 01:44 New Delhi: India’s digital financial infrastructure, designed and used as a public good, could be a leading example for other emerging markets and economies, according to a paper released by the Bank for International Settlements (BIS) on Sunday. 'The …
  • Savings with a bonus — financial peace of mind 15 Dec 2019 20:50 The confidence that ordinary Indian savers repose in guaranteed return products has been subjected to hard knocks of late. First there was the scare about public sector banks being placed under prompt corrective action by the Reserve Bank of India (RBI). …
  • Banks’ NPAs again stoke asset quality concerns 15 Dec 2019 20:04 Mumbai: India’s bad loan crisis seems far from over, with as many as 10 banks disclosing they had under-reported non-performing assets (NPAs) of close to ₹24,000 crore in the year ended 31 March. These banks are State Bank of India (SBI), Yes Bank, Punjab …
  • Loan melas recount two different stories 15 Dec 2019 18:41 Mumbai: Doubts about the effectiveness of the government’s loan melas have surfaced after data released by the Reserve Bank of India (RBI) contradicted the finance ministry. The finance ministry said in a statement on 3 December that public sector banks ( …
  • SBI may pay Essar lenders on Monday as ArcelorMittal pays up 15 Dec 2019 14:58 New Delhi, Dec 15 (IANS) The State Bank of India (SBI), the lead banker of the bankrupt Essar Steel, is likely to settle dues of other lenders as it received Rs 40,000 crore on Friday from ArcelorMittal, which is going to takeover the company bringing to …
  • Will US Fed take Digital India's help on Google cue and replicate UPI system? 15 Dec 2019 13:03 Federal Reserve Board building on Constitution Avenue is pictured in Washington, US, on March 19, 2019.Reuters US Fed Reserves is looking at India's Unified Payments Identification (UPI) system as Google puts pressure on the central banking system to …
  • PMC Bank depositors detained for protesting outside CM Thackeray's house 15 Dec 2019 12:58 Some of the depositors of the Punjab and Maharashtra Co-operative (PMC) Bank were detained by Mumbai Police on Sunday after they protested outside Matoshree, the residence of Chief Minister Uddhav Thackeray. The depositors also held protests outside …
  • AAI provides food to stranded passengers at Guwahati Railway Station | Live 15 Dec 2019 12:34 Dec 15, 2019 6:03 PM (IST) Posted by Rashi Hardaha Man shot dead in Uttarakahnd's Haldwani A man was shot dead in broad daylight in Haldwani of Nainital district, police said on Sunday. Dec 15, 2019 6:02 PM (IST) Posted by Rashi Hardaha Over 1,600 …
  • PMC Bank crisis: Uddhav Thackeray meets depositors; assures all help 15 Dec 2019 12:34 Image Source : ANI PMC Bank crisis: Uddhav Thackeray meets depositors; assures all help  Mumbai Police detained over 50 depositors of the Punjab and Maharashtra Cooperative (PMC) Bank on Sunday after they protested outside the residence of Chief Minister …
  • RBI taking necessary actions to provide relief to customers: Anurag Thakur on PMC Bank Case 15 Dec 2019 10:39 By ANI MUMBAI: Commenting on the ongoing protests by the account holders of the Punjab and Maharashtra Cooperative (PMC) Bank, Minister of State (MoS) for Finance Anurag Singh Thakur on Sunday said that the Reserve Bank Of India (RBI) is taking requisite …
  • Inflation data, stagflation concerns to steer equity indices 15 Dec 2019 07:27 Mumbai: Concerns over Stagflation as well as macro-economic wholesale inflation data and global liquidity flows will determine the key equity market moves during the upcoming week, experts said. Lately, macro-data points on inflation and industrial …
  • US-China trade deal, GST Council meet, RBI minutes to guide Dalal Street this week 15 Dec 2019 05:49 The US-China trade deal, GST Council meet and a clear path for Brexit are some of the key factors that will guide Dalal Street this week. A major resolution through the IBC court that comes to finalisation may also cheer investors. Media reports on Friday …
  • Govt examining foreign fund flows in infra, telecom at sensitive locations 15 Dec 2019 04:47 The government has initiated review of foreign fund flows in sensitive sectors like telecom and physical infrastructure at strategic locations of the country, according to sources. A comprehensive review has been undertaken to assess the control over …
  • Engaging Kerala's non-resident diaspora 15 Dec 2019 04:27 Over the past five decades, the role of Kerala’s diaspora in the economic, social, and cultural development of the State has been crucial. Although the migration of workers for employment is a universal phenomenon, migrants from Kerala have certain …
  • Fact Check: Will ₹ 2000 notes be discontinued? 14 Dec 2019 20:17 Representational Image Will the government withdraw ₹ 2,000 notes? This is the most heard concern these days. Some messages are being widely circulated on social media platforms like WhatsApp, Facebook and YouTube claiming that the Reserve Bank of India ( …
  • Digital payments: Google wants US Fed to replicate India's UPI model 14 Dec 2019 18:12 The US Federal Reserve, or the Fed, should replicate India’s Unified Payments Interface (UPI) model for its proposed interbank real-time gross settlement (RTGS) service, Google has recommended. Launched in 2016, the UPI is the country’s flagship real-time …
  • The pushback over delays in GST transfers by the Centre is the latest instance of states’ growing assertion on the fiscal front 14 Dec 2019 17:55 States are shaken. Their financial pipeline from the Centre is drying up, they claim, and they are struggling to pay their dues because the central government is not keeping its promise. “It is demeaning and embarrassing,” says Manpreet Singh Badal, the …
  • Google wants US Federal Reserve to follow India's UPI example 14 Dec 2019 14:33 NEW DELHI: In a thumbs up to the Indian government's Unified Payments Interface (UPI) scheme, Google has written to the US Federal Reserve Board detailing the successful example of UPI-based digital payment in India in order to build "FedNow" …
  • RBI mulls placing NBFCs under bank-like vigil 14 Dec 2019 12:57 Currently, NBFCs and co-operative banks have different regulations governing them. These are not as stringent as the rules for banks are. The central board of the Reserve Bank of India on Friday discussed extending the “enforcement policy and framework”, …
  • Google cites UPI learnings to US Federal Reserve for proposed RTGS system 14 Dec 2019 12:16 India’s Unified Payments Interface (UPI) has been getting global attention for quite some time. Now Google LLC has cited its example to the United States Federal Reserve for its proposed FedNow -- a new interbank gross settlement service. “Google's …
  • Avoid metals in long term, go for India focused pharma cos: Sudip Bandyopadhyay 14 Dec 2019 09:47 Short term trading is okay, but I will keep away from metal counters for the long term, says Sudip Bandyopadhyay, group Chairman, Inditrade Capital. Excerpts from an interview with ETNOW. What do you make of the market moves? Normally, we expect a quite …
  • India's forex reserves rise to over USD 453 billion, hits record high 14 Dec 2019 08:59 By IANS MUMBAI: India's foreign exchange reserves continued their upward trajectory during the week ended December 6 and touched new record highs. The reserves rose by $2.34 billion during the week under review, official data showed on Friday. The …
  • Forex reserves soar to touch all-time high of USD 453 billion 14 Dec 2019 06:03  In the reporting week, the rise in reserves was mainly on account of an increase in foreign currency assets, a major component of the overall reserves, which surged by USD 1.891 billion to USD 421.258 billion, according to the data. Mumbai: The country…
  • Banks recover ₹6,000 crore in Prayagraj sale 14 Dec 2019 05:14 Mumbai: A consortium of 18 lenders, led by State Bank of India (SBI), have successfully recovered ₹6,000 crore from the sale of the debt-laden Prayagraj Power Generation Co in the second such one-time settlement deal outside of the bankruptcy mechanism, …
  • Moody’s keeps India GDP growth forecast at 5.6% 14 Dec 2019 03:45 New Delhi: Moody’s Investors Service reiterated India’s gross domestic product growth forecast for 2019 at 5.6%, which it had lowered from 5.8% in October, on slow consumption demand. The rating company expects economic growth at 6.6% in 2020 and 6.7% in …
  • Donald Trump announces 'Phase One' of US-China trade deal 13 Dec 2019 22:05 The United States has agreed to "a very large Phase One Deal with China," President Donald Trump announced on Friday on Twitter, marking a thaw in a heated trade war between the world's two largest economies. Trump noted that tariffs …
  • Why India's economic recovery ... 13 Dec 2019 18:56 India's economy is suffering its worst cyclical downturn for more than a decade, which is weighing heavily on global oil consumption, and until the economy improves, prices are unlikely to see a sustained increase. If the monetary and fiscal stimulus …
  • Indian Finance Minister Skirts Media Questions on Economy, But Slams Rahul Gandhi's 'Rape in India' Remark 13 Dec 2019 16:41 World 17:09 13.12.2019Get short URL New Delhi (Sputnik): India’s Gross Domestic Product growth touched a six-year low at 4.5% in the July-September quarter, while retail inflation shot up to a three-year high of 5.54% in November, jeopardising any chances …
  • RBI considers extending bank-like vigil on NBFCs, cooperative banks 13 Dec 2019 15:46 The central board of the Reserve Bank of India (RBI) on Friday discussed extending the “enforcement policy and framework”, which is in place for scheduled commercial banks, to non-banking financial companies (NBFCs) and co-operative banks. Currently, NBFCs …
  • United Bank of India cuts MCLR by five basis points 13 Dec 2019 15:22 Kolkata: State-owned United Bank of India (UBI) has announced reduction in its marginal cost based lending rate (MCLR) by five basis points from December 16, following leaders in the banking industry. Allahabad Bank, another state-owned Kolkata- …
  • AU Small Finance Bank raises 13 Dec 2019 14:12 Mumbai: Singapore's state investment arm Temasek, on Friday, said it has completed the acquisition of 4.8% stake in AU Small Finance Bank Ltd by infusing the balance ₹525 crore of its ₹1,000 crore investment plan in the Jaipur-based lender. The latest …
  • Forex reserves soar $2.3 billion to touch all-time high of $453 billion 13 Dec 2019 13:49 MUMBAI: The country's foreign exchange reserves surged by $2.342 billion to touch a life-time high of $453.422 billion in the week to December 6, according to the Reserve Bank of India (RBI) data. In the previous week, the reserves had increased by $2. …
  • India govt outstanding loans from RBI at $7.33 bln in Dec. 6 week 13 Dec 2019 12:13 BENGALURU, Dec 13 (Reuters) - The Indian government had 525.75 billion rupees ($7.33 billion)outstanding loans with the central bank under ways and means advances in the week ended Dec. 6, according to the Reserve Bank of India’s weekly statistical …
  • Moody's cuts India's GDP growth forecast to 5.6 pc for 2019 13 Dec 2019 08:54 NEW DELHI: Moody's Investors Service on Friday said it has lowered its 2019 GDP growth forecast for India to 5.6 per cent as slow employment growth weighs on consumption. It expects economic growth to pick up in 2020 and 2021 to 6.6 per cent and 6.7 …
  • YES Bank gains 5% as firm looks to raise funds via QIP 13 Dec 2019 06:35 NEW DELHI: Shares of YES Bank advanced over 5 per cent in Friday's session after ET reported that the private sector lender is seeking exemption from Sebi to raise funds under the qualified institutional placement (QIP) programme as a backstop for its …
  • YES Bank share sale: Erwin Singh Braich, family offices may not be included 12 Dec 2019 22:28 YES Bank is likely to skip issuing shares to family offices in favour of institutional investors in the current round of its preferential issue, where the bank plans to raise $1.75 billion, its managing director and chief executive officer, Ravneet Gill, …
  • The not-so bright idea of selling the family silver 12 Dec 2019 21:29 When we examine the proposed stake sale of profit-making public sector undertakings (PSUs), a few strategic issues of national importance need to be considered. The first is an ideological one — that Government must get out of business. The second is the …
  • India to be an outlier in the global economy: Report 12 Dec 2019 18:11 MUMBAI: The Reserve Bank may resume easing of rates from the April-June'20 quarter to address growth concerns as the current inflationary pressures are transient, according to Japan-based financial services major Nomura, it also expects fiscal policy …
  • India's rising retail prices stokes worries of stagflation 12 Dec 2019 16:50 NEW DELHI: India's retail price inflation in November jumped to a 40-month high, at a time when growth in Asia's third largest economy has slowed to a six-year low, prompting some economists to warn that the country could be entering into a …
  • Retail inflation spikes to 3-yr high of 5.54 pc in Nov, IIP shrinks for 3rd month at 3.8 pc 12 Dec 2019 15:52 New Delhi, Dec 12 () Rising food prices pushed the retail inflation in November to over three-year high of 5.54 per cent, while the industrial sector output shrank for third month in a row by 3.8 per cent in October, indicating deepening slowdown in the …
  • IIP-CPI mix shows India entering 'stagflationary' phase: Analysts 12 Dec 2019 15:29 Retail inflation jumped to a 40-month high in November on higher food prices, while industrial output contracted 3.8 per cent in October from a year earlier, data showed on Thursday. Higher prices has reduced the likelihood of the Reserve Bank of India …
  • Allahabad Bank reports Rs 67 crore divergence in gross NPA 12 Dec 2019 14:30 Kolkata: Kolkata: State-owned Allahabad Bank has reported Rs 67 crore divergence in gross non-performing assets in 2019, in stark contrast to State Bank of India's under-reporting of Rs 11,932 crore of bad loans for the same period. Divergence in gross …
  • Retail inflation soars to over 3-year high of 5.54 pc in Nov on costlier food items 12 Dec 2019 14:25 New Delhi, Dec 12 () Retail inflation spiked to a more than three-year high of 5.54 per cent in November due to costlier food products like vegetables, pulses and protein-rich items. The previous high was in July 2016, when the consumer price index-based …
  • PMC Bank depositors' worries to be taken up with RBI: Minister 12 Dec 2019 11:44 Mumbai: The Maharashtra government will take up concerns of the troubled Punjab and Maharashtra Cooperative (PMC) Bank's depositors with the RBI in a couple of days, state minister Jayant Patil said on Thursday. Patil, who earlier suggested that the …
  • India's economy to grow at 4.3% in Q4 2019 : Nomura 12 Dec 2019 07:18 SINGAPORE: India's economy is expected to grow at 4.3 per cent in December quarter this year amid concerns over crisis in the NBFC sector, according to Nomura. The Japanese financial services major also believes that the first quarter of 2020 will see …
  • 'India's economic recovery critical for oil in 2020' 12 Dec 2019 06:35 Reserv­e Bank of India cut its benchm­ark repo rate five times this year by a total of 135 basis points­ A Reuters file photo of Indian rupee. LONDON: India’s economy is suffering its worst cyclical downturn for more than a decade, which is weighing …
  • Time running out fast for YES Bank as it scouts for a new investor 12 Dec 2019 04:36 Yes Bank Ltd. shares tumbled the most in two months after its board deferred an announcement on new investors, prompting a warning about the risks to the Indian financial system if the lender is unable to quickly bolster its capital. The Mumbai-based …
  • Is YES Bank getting quality offers? Delay raises some serious questions 12 Dec 2019 04:36 Yes Bank Ltd.’s decision to defer an announcement on new shareholders has heightened concerns about the quality of the offers it has received to bolster its capital ratios. The Mumbai-based lender said its board failed to reach a final decision on …
  • India assures global investors of payment security in green deals 12 Dec 2019 02:54 New Delhi: A payment security mechanism has been put in place to protect green energy investments, India’s secretary in the ministry of new and renewable energy, Anand Kumar, told global investors on Tuesday on the sidelines of the Madrid Climate …
  • The Tycoon who wants to save Yes Bank has a back... 11 Dec 2019 21:44 Erwin Singh Braich, the mysterious tycoon behind a $1.2 billion bid to rescue a beleaguered Indian bank, says he is Canada’s richest man with a story so fabulous that Netflix Inc. wants to tell it. There’s a less glittering account pieced together from …
  • Das meets heads of PSBs, discusses transmission of rates, stressed assets 11 Dec 2019 21:23 The Reserve Bank of India (RBI) Governor Shaktikanta Das (pictured) on Wednesday met the chiefs of major public sector banks (PSBs) to get their feedback on transmission of rates. He also asked them to improve coordination for swift resolution of stressed …
  • ADB scales down India's GDP growth forecast from 6.5% to 5.1% for FY20 11 Dec 2019 21:23 The Asian Development Bank (ADB) has sharply scaled down its projection for India's economic growth to 5.1 per cent in 2019-20 from 6.5 per cent projected earlier because of the crisis in the non-banking finance companies and impact on consumption due …
  • Goa govt notifies sale of Rs 100 cr securities 11 Dec 2019 20:52 Panjim: Goa government has notified sale of Rs 100 crore government securities, which were auctioned by Reserve Bank of India (RBI) on Tuesday. “Government of Goa hereby notifies the sale of Goa Government Stock (Securities) of 10-year tenure for an …
  • Resolution of stressed assets should happen in a co-ordinated manner: Das 11 Dec 2019 19:59 MUMBAI : Nearly a week after the bi-monthly policy, Reserve Bank of India Governor Shaktikanta Das told heads of public sector banks that resolution of stressed assets should happen in a co-ordinated manner. In a meeting with managing directors and chief …
  • Sensex closes 173 points higher but Yes Bank plunges by 13.8 pc 11 Dec 2019 19:47 Mumbai (Maharashtra) [India], Dec 11 (ANI): The last hour of trading on bourses capped a volatile session on Wednesday with equity benchmark indices closing in the green. The BSE SP Sensex closed 173 points higher at 40,413 while the Nifty 50 ticked up by …
  • Why is Yes Bank board wary of tycoon who wouldn't invest if it was 'No Bank'? 11 Dec 2019 19:40 Modi govt wants employees to take more holiday; changes earned leave rules Erwin Singh Braich, the mysterious tycoon behind a $1.2-billion bid to rescue Yes Bank, says he is buying the bank for its name. He wouldn't have been interested had the name …
  • Four brokerage houses question YES Bank's future, raise concerns 11 Dec 2019 18:46 After YES Bank’s inability to raise funds worth $2 billion, brokerage houses have started questioning the future of the private lender. After a five-hour long meeting on Tuesday, the bank told exchanges that it is considering the $500-million offer made by …
  • Non-bank growth to fall to 6-8% in FY20; lowest in a decade: Crisil 11 Dec 2019 14:47 Non-banking entities in the financial services space are set to grow at the slowest pace in over a decade as the rate of expansion is expected to fall to 6-8 per cent in FY20, from 15 per cent in FY19, said rating agency CRISIL. Constraints such as funding …
  • India assures global investors of payment security for green energy investments 11 Dec 2019 13:42 NEW DELHI : India on Tuesday assured global investors that a payment security mechanism has been put in place to protect green energy investments. This was articulated by India’s secretary in the ministry of new and renewable energy, Anand Kumar on the …
  • State-run banks come to the rescue of MSMEs 11 Dec 2019 11:50 Banks will also consider requests from MSMEs for restructuring their stressed standard assets. Small businesses can visit public sector banks (PSBs) to finance their working capital or to restructure their loans, with the Union government launching a month …
  • S&P may slash India rating on growth concerns: Reports 11 Dec 2019 11:02 Rating agency S&P may lower India’s rating if the growth does not recover, ET NOW reported quoting agencies. However, the rating firm added India's long-term economic outperformance remains intact. "We are forecasting real GDP growth to …
  • COLUMN-India's economic recovery critical for oil in 2020: Kemp 11 Dec 2019 10:45 (John Kemp is a Reuters market analyst. The views expressed are his own) * Chartbook: tmsnrt.rs/2shh0tC By John Kemp LONDON, Dec 11 (Reuters) - India’s economy is suffering its worst cyclical downturn for more than a decade, which is weighing heavily …
  • ET Explains: What's making the pass-through of RBI's policy decisions sticky 11 Dec 2019 10:23 One of the reasons why the Reserve Bank of India paused its rate cutting cycle is because of inadequate monetary transmission. The Monetary Policy Committee has cut the benchmark repo rate five times in a row totalling 135 basis points. The RBI's rate- …
  • ADB cuts India's growth forecast to 5.1% for FY2019; projects 6.5% for next year 11 Dec 2019 10:19 NEW DELHI: Asian Development Bank (ADB) on Wednesday lowered India's economic growth forecast for FY2019 to 5.1 per cent on slowing job prospects, rural distress exacerbated by poor harvest and credit crunch. The multilateral bank, however, expects the …
  • Equity indices edge higher, Yes Bank in focus 11 Dec 2019 09:21 Mumbai (Maharashtra) [India], Dec 11 (ANI): Equity benchmark indices edged higher during early hours on Wednesday with most sectoral parameters in the green. At 10:15 am, the BSE SP Sensex was up by 170 points to 40,410 while the Nifty 50 ticked up by 48 …
  • India’s FY20 growth forecast cut to 5.1% by ADB 11 Dec 2019 07:47 New Delhi, Dec 11 (IANS) In another sharp downgrade for the Indian economy’s outlook, the Asian Development Bank (ADB) has revised the estimate for India’s growth rate in the financial year 2019-2020 downwards to 5.1 per cent from the previous forecast of …
  • India’s Regime Launches Anti-Muslim Legislation 11 Dec 2019 07:09 The Narendra Modi government’s relentless drive to turn India into a Hindu-dominant country has been given fresh impetus with the introduction of a parliamentary bill that discriminates against illegal Muslim immigrants over their rights to citizenship, …
  • Braich’s $1.2-bn bid not off the table, discussions still on: Ravneet Gill, YES Bank 11 Dec 2019 06:55 What you can expect from the next board meeting of YES Bank is much more clarity on the overall size of the capital that we are raising and potentially a closure of couple of investment transactions, says Ravneet Gill, CEO & MD, YES Bank. Excerpts from …
  • Yes Bank Needs an Arranged Match, Or It’s No Bank 11 Dec 2019 04:52 By Andy Mukherjee (Bloomberg Opinion) — Yes Bank Ltd.’s latest $2 billion rescue plan was perfect except for one minor detail: Most suitors for the beleaguered Indian lender aren’t the kind the board can really take to meet the regulator for tea. Yet in a …
  • Indian banks back in UK court over Vijay Mallya's non-payment of debt 11 Dec 2019 04:17 LONDON: A consortium of Indian public sector banks led by State Bank of India (SBI) are back in the UK high court to seek a bankruptcy order against liquor tycoon Vijay Mallya over the alleged unpaid debt of around 1.145 billion pounds. Judge Michael …
  • Reserve Bank of India February rate cut on a knife’s edge 11 Dec 2019 03:27 BENGALURU: A February Reserve Bank of India rate cut is on a knife's edge, with just under half of economists polled expecting easing at that meeting, and is highly likely by the middle of next year, according to a Reuters poll. After slashing the repo …
  • Bank auditors have to be more vigilant 11 Dec 2019 02:49 MUMBAI: Auditing banks is becoming one of the trickiest and most demanding jobs. Auditors, according to a Reserve Bank of India (RBI) advisory to several banks this week, will have to carry out a more intensive examination of large-value accounts, the …
  • Nirmala Sitharaman, Ravi Shankar Prasad to speak at Times Network’s India Economic Conclave 11 Dec 2019 02:48 MUMBAI: Finance minister Nirmala Sitharaman, law minister Ravi Shankar Prasad, Reserve Bank of India governor Shaktikanta Das and International Monetary Fund chief economist Gita Gopinath are among the stellar speakers at the Times Network’s India Economic …
  • Inflation targeting: Surge in prices of onion & sugar has brought back bad memories 11 Dec 2019 02:26 When scores of Ivy League-trained economists are burning midnight oil with their sophisticated forecasting models to figure out what the Reserve Bank of India would do next on interest rates, Bank of America has a simple suggestion — just keep a watch on …
  • Yes Bank mulls $500 mn Citax lifeline, Braich remains in fray 10 Dec 2019 19:27 Mumbai: Yes Bank Ltd on Tuesday said it is considering a $500 million investment offer from London-based Citax Holdings and Citax Investment Group, in what would be a vital financial lifeline for the cash-starved private lender. A final decision on the …
  • Union Bank of India cuts MCLR by up to 10 bps across tenors 10 Dec 2019 18:06 Just a week after the Reserve Bank of India (RBI) maintained status quo on key rates in its bi-monthly monetary policy review, a slew of banks have announced reduction in loan rates. Tuesday evening, Union Bank of India announced that it has cut marginal …
  • Andhra Pradesh: 5,023 persons stripped of corporate identities 10 Dec 2019 16:32 According to officials, the directors’ Director Identification Number has been disqualified for a period between November 1, 2018 and October 31, 2023. As many as 5,023 persons, directors of various companies registered in Andhra Pradesh, have been barred …
  • Yes Bank mulls Citax Holdings offer, Erwin Singh Braich still in fray 10 Dec 2019 15:08 Private sector lender Yes Bank has told the exchanges it is considering the $500 million offer made by Citax Holdings and Citax Investment Group. A decision regarding allotment will be taken at the next board meeting. The note said, “The Board is willing …
  • Yes Bank board says it will favourably consider Citax Holdings' $500 mn offer 10 Dec 2019 13:05 Cash-starved private lender Yes Bank Ltd., on Tuesday, said it is considering the $500 million investment offer made by London-based Citax Holdings and Citax Investment Group. Following a board meeting, the bank said a final decision on this investment, …
  • Bank of Baroda and HDFC Bank cut MCLR by 5 bps and 15 bps respectively 10 Dec 2019 11:58 Bank of Baroda, the country's second largest public sector bank, has reduced its benchmark lending rates, or the marginal cost of funds-based lending rates (MCLR) across various tenures. Its one-year MCLR will be 8.25 per cent, 5 bps below the existing …
  • Leaving the nest to study abroad is hard. 5 ways a Student Travel Insurance is one of your most trusted friend in a foreign country 10 Dec 2019 10:37 With over 5 million students studying outside their native country across the globe, Indians make for a huge proportion of these statistics. By the year 2024, approximately four lakh Indian students will enrol in foreign universities, says a recent Reserve …
  • India’s growth collapse dramatic, govt should let deficit slip: Wood 10 Dec 2019 06:05 The severe correction in Indian midcap and smallcap stocks is reflecting the real pain in the Indian economy, says Christopher Wood, Global Head of Equity Strategy at Jefferies. In an interaction with ETNow, he said midcap and smallcap stocks are the best …