Diabytes
Central bank News
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The Reserve Bank has said it will continue to undertake liquidity management operations in sync with the monetary policy stance to keep system liquidity adequate to meet the productive requirements of the economy.
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The foreign currency assets comprise multi-currency assets that are held in multi-asset portfolios as per the existing norms, which conform to the best international practices followed in this regard.
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In a big relief for banks, RBI Governor Sanjay Malhotra had also announced the postponement of the proposed Liquidity Coverage Ratio (LCR) as well as project financing norms by a year.
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On liquidity, the central bank has urged banks to lend in the un-collateralised call market, instead of parking that money with the RBI.
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The RBI had, in its monetary policy review on December 6, slashed the cash reserve ratio (CRR) for banks by 0.5 per cent to make more funds available for lending to spur economic growth but kept the key policy repo rate unchanged at 6.5 per cent with an eye on inflation.
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Sanjay Malhotra has assumed office as the 26th Governor of the RBI will serve a three-year term as the head of the central bank.
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The penalties have been imposed in the exercise of powers conferred on the RBI under the provisions of Section 52A of the National Housing Bank Act, 1987.
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The partnership between India and Peru aims to fortify Peru's financial infrastructure and spur its economic growth.
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Hero FinCorp did not convey the terms and conditions of loans in writing to borrowers in the vernacular language understood by them, it said.
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Russia-Ukraine World War has completed one year today. Meanwhile, the Central Bank of Ukraine issued a new note. A glimpse of the Ukrainian flag was seen in this note. Further in this report, watch 100 big headlines of the day in a flash.
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RBI governor Shaktikanta Das launches Utkarsh 2.0 on Friday.
The first strategy framework (Utkarsh 2022) covering the period 2019-2022 was launched in July 2019.
It will be based on AI and Machine learning driven tools for data analysis and information creation.
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Reserve Bank is mulling to adopt the "expected loss" approach for loan provisioning.
At present, the banks follow the "incurred loss" approach, where money is set aside after an asset turns sour.
RBI will be releasing another discussion paper on a revised framework for securitisation of stressed assets
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ICICI RuPay Credit Cards: Sudipta Roy, the credit card head of ICICI Bank while launching this card said that we have always given priority to the convenience of the customers.
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Bank of Maharashtra and Central Bank are the top two candidates that have been favoured for privatisation.
United India Insurance may be chosen candidate for privatisation among the three general insurers.
Both Bank of Maharastra and Central Bank are west focused banks where public sector bank presence is already stronger.
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The shortlist has not previously been reported.
Govt considering mid-sized to small banks.
First round of privatisation to test waters.
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Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, while presenting the Union Budget FY 2021-22 in Parliament announced that government has approved a policy of strategic disinvestment of public sector enterprises that will provide a clear roadmap for disinvestment in all non-strategic and strategic sectors.
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The shortlist has not previously been reported.
Govt considering mid-sized to small banks.
First round of privatisation to test waters.
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These PSBs reportedly have a cumulative loss of Rs 21,646.38 crore for the financial year 2017-18.
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These banks, including SBI, PNB, Bank of Baroda, Central Bank, Union Bank and OBC, have called shareholders' meetings this month to pass the resolution to allot preferential shares to government so as to receive the capital.
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The bond market, which got a shot in the arm on Friday after Moody`s upgraded India`s sovereign rating pared almost all the gains on that day, resumed the rally on Monday boosted by the cancellation of OMO sale which to traders was a signal that the central bank was not happy with high yields.
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