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Monday, July 16, 2018

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gst implementation, fiscal targets, farm loan waivers, reserve bank of india data, rbi data, business news, indian economy

States slip on fiscal targets on farm loan waivers, GST, says Reserve Bank of India

In FY18, farm loan waivers touched 0.32 per cent of the GDP as against budget estimates of 0.27 per cent, the RBI said, adding that more such moves are pending for the fiscals ahead.

(Photo: Reuters)

Home Ministry flags Chinese bank eyeing second branch in India

Sources said the MHA has voiced concerns that ICBC — the world’s largest bank by total assets — has employed more than the authorised number of Chinese nationals at its existing Mumbai branch.

Sensex tanks 273 points, bank stocks tumble as RBI red flags on NPAs

State-run lenders came under heavy selling pressure, with PNB, Bank of Baroda, SBI, Syndicate Bank, Oriental Bank of Commerce and Union Bank of India falling up to 6.61 per cent.

ATM, Maharashtra

Maharashtra has highest number of ATMs in country, says RBI

During the financial year 2017-18, the number of ATMs in the state has declined marginally from a year ago, as the total number of ATMs in the country has also declined slightly to 2,22,066 from 2,22,318 in the same period.

Going on a hike

Rate increase by RBI highlights conflict between its role as banking regulator and government’s debt manager

madhya pradesh, modi mp visit, ajay singh, madhya pradesh opposition, madhya pradesh congress, indian express

RBI rate hike upsets Narendra Modi’s election year budget maths

RBI’s first interest rate rise since Prime Minister Narendra Modi came to power could not have come at a worse time for a government grappling with spending constraints, voter discontent in the rural heartlands and rising oil prices.

The FIU has been intensely involved in collection and collation of several reports related to demonetisation during November-December, 2016.

More banks follow peers in hiking MCLRs

Late last week, State Bank of India (SBI), ICICI Bank, Punjab National Bank (PNB) Housing Development Finance Corp (HDFC), Kotak Mahindra Bank and Union Bank of India had raised MCLRs amid a situation of tight liquidity in the system.

reserva bank of india, rbi, non food bank credit, growth data, indian express

Explained Snippets: India isn’t alone, many countries have hiked interest rates

The US Federal Reserve hiked interest rates by 25 basis points in March, leading to capital outflow from emerging economies, as investors look to chase better returns in America. To arrest this outflow, central banks across the world hiked their interest rates.

RBI monetary policy meet today

RBI raises loan limit for affordable homes in cities

The scheme is expected to give a boost for loans granted for the purchase of affordable housing.

RBI monetary policy meet today

RBI increases repo rate to 6.25%, loans to cost more now

The RBI may also have taken into account the fact that many other central banks in emerging markets too have raised rates in the face of rising inflation and weakening of their currencies with rising interest rates in the US and elsewhere, a strong US dollar and outflows.

rupee rate, rbi, forex, rupee vs dollar, inr to dollar, foreign exchange deficit, rupee rate falls, indian express

A forced hike

RBI raises rates in response to domestic inflation risks, global market movements. Government must heed the warning

Urjit Patel appears before Parliamentary panel

No impact on NPAs due to farm loan waivers by states, says Urjit Patel

According to a report, the farm debt waivers announced by the five large states together will widen the fiscal deficit of the states by Rs 1,07,700 crore or 0.65 per cent of GDP in the current financial year. 

Growth recovery has to be strong enough to compensate for rising rates, says expert

The apex bank on Wednesday observed that the level bad loans for the ticket size of up to Rs 2 lakh has been high and is rising briskly, and it might tighten norms by increasing loan to value ratio and risk weight.

reserva bank of india, rbi, non food bank credit, growth data, indian express

RBI marginally revises upwards inflation forecast

The Reserve Bank of India further said that impact of the revision in the MSP formula for kharif crops is not possible to assess at this stage in the absence of adequate details.

RBI, Finance Ministry must step in to curb rupee depreciation: Assocham

Rupee turns weaker ahead of RBI policy outcome

The benchmark six-month forward premium payable in October eased to 111-113 paise from 112-114 paise and the far-forward April 2019 contract softened to 250-252 paise from 251-253 paise previously.