Tyagi said Sebi is looking to resolve the NSE co-location matter “as quickly as possible. We are examining various issues and an inquiry is going on.”
Analysts said the qualified institutional placement, combined with the capital the bank has raised through selling its stake in PNB Housing Finance earlier this month, will strengthen the bank’s capital adequacy ratio.
Narrow banking, or safe banking, would restrict banks to holding liquid and safe government bonds. Loans would be made by other financial intermediaries.
The FRDI Bill proposes to create a framework for overseeing financial institutions such as banks, insurance companies, non-banking financial services (NBFC) companies and stock exchanges in case of insolvency.
Former SBI chairman Arundhati Bhattacharya said if promoters were allowed to regularise their accounts and bid, it would make them wilful defaulters.
As of September, retail AUM stood at Rs 4.68 lakh crore or 23% of the industry AUM.
HSBC Qianhai Securities would be the first Chinese securities joint venture to be majority-owned by a foreign bank.
On Wednesday, the RBI fixed the MDR charges for small merchants with an annual turnover of up to Rs 20 lakh at 0.40 per cent with a cap of Rs 200 per transaction by debit cards through PoS machines or online transactions.
Endowment plans continue to be inefficient products when it comes to investment, but unit-linked insurance plans (ULIPs) are now completely different from what had existed in the market previously.
According to Reserve Bank of India Deputy Governor B P Kanungo, the move is aimed at increasing the stagnant debit card transactions but will also make sure that the acquirers get sufficiently compensated for investing in the infrastructure.
Top bankers on Wednesday said growth was expected to show an uptick in the next two quarters and the RBI’s monetary policy review has provided more clarity on the liquidity framework. SBI chairman Rajnish Kumar said the RBI decision to maintain status quo was in consonance with market expectations. “The policy assessment is fairly balanced […]
Merchant discount rates for small merchants have been fixed at 0.40% with a cap of Rs 200 per transaction by debit cards through PoS machines or online transactions.
According to Patel, this is to ensure that the money is utilised to strengthen public sector bank balance sheet and “not to sow the seeds for the next boom and bust cycle” of lending.
In October, government had announced a Rs 2.11-trillion capital infusion into the NPA-hit public sector banks over the next two years.
On the positive side, Reserve Bank of India said there has been some pick up in credit growth in recent months. Besides, recapitalisation of public sector banks may help improve credit flows further, it added.
"They believe inflation will rise, but you know their predictions of inflation have always been overestimated."
The statement was issued after the cryptocurrency, which trades 24 hours a day and seven days a week, climbed as high as $11,799.99 on the Bitstamp exchange on Sunday.
New business performance by the corporation for six months ended September 2017 has shown an impressive growth of 23.68 per cent in its first year premium by posting a figure of Rs 68,224.29 crore.
According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 86.6378 and 57.15 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quotes at noon.
The write-off in the last six months comes at a time when banks are struggling to resolve many cases of repayment of loans and recover money stuck with corporate defaulters through insolvency proceedings.
The year-on-year (YoY) CPI inflation hardened to a seven-month high 3.6 per cent in October 2017 from 3.3 per cent in September 2017.
Advance-related frauds in last 3 years adds up to about 8% of GNPAs of PSBs.
Central Board of Excise and Customs asked them to approach chief commissioner of central tax and the commissioner of state tax for the claim.
India Inc, however, is demanding interest rate cut to further build on positive sentiment generated by the rebound and upgrade of the country's sovereign rating by Moody's.
If implemented by the regulator, this provision is likely to hurt public sector GIC Re — the beneficiary of compulsory cession — and benefit private and foreign reinsurers, industry officials said.
The Public Provident Fund (PPF) is the best small savings scheme for investors in the general category.
On Wednesday, the rupee had maintained its upbeat trend for the third straight session and firmed up by another 10 paise to end at a fresh two-month high of 64.31 against the US dollar ahead of the GDP data.
"In spite of a year since demonetisation, the problems are not going away. I have faced the wrath of farmers and depositors for the past one year and I felt I could not do so anymore and hence have resigned,” Narendra Darade said.
In fiscal year 2015-16, reserves and surplus of all CPSEs stood at Rs 7.96 lakh crore most of which is parked in banks and mutual funds.
A jurisdiction-free assessment implies that a taxpayer in Delhi could be assessed by a tax officer randomly selected by the online system from other parts of the country.
Defying "logic", the government bond yield has been on a roll of late and is hovering around 7 per cent, which is around 30-35 basis points higher than in the first half of FY18.
Jailtey blames the previous UPA govt for disbursing loans that turned into NPAs.
Banks’ profits strained by rising NPAs and increased provisioning.
Under the new Insolvency and Bankruptcy Code, he said cases have been instituted in the National Company Law Tribunal for time-bound recovery from 12 largest defaulters.
On Monday, rupee gained 20 paise to end at fresh two-month high of 64.50 against dollar even as S&P kept India's credit rating unchanged. Meanwhile, benchmark BSE Sensex was trading lower by 85.12 points, or 0.25 per cent, at 33,639.32 in opening deals.
Fresh slippages during Q2 at 3.9% (annualised) as against 6.3% (annualised) during Q1 FY18 and 5.5%+ for FY17 were the lowest since beginning of the Asset Quality Review by the RBI.