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Thursday, February 20, 2020

George Mathew


Explained: Why is RBI aligning accounting year with fiscal year?
Wed, Feb 19, 2020

When it commenced operations on April 1, 1935, with Sir Osborne Smith as its first Governor, the RBI followed a January-December accounting year.

Crispin Simon: ‘Enforcement of contracts in courts an area where investors would like to see progress’
Mon, Feb 17, 2020

We’re here to promote British investment in India and British exports to India, and the same the other way around, says Crispin Simon.

RBI changes accounting year, interim dividends may stop
Sun, Feb 16, 2020

Accordingly, the next accounting year will be a nine-month period which starts from July 2020 and ends on March 31, 2021. Thereafter, all the financial years will start from April every year, the RBI said on Saturday.

‘Over 50% of projects sanctioned by lenders went to five states; AP gets highest investment’
Wed, Feb 12, 2020

The project cost sanctioned by banks and financial institutions increased markedly to Rs 1,25,305 crore in the first six months of 2019-20 from Rs 86,607 crore in the first six months of 2018-19.

IRDAI asks insurers to play active role in corporate governance of investee firms
Sun, Feb 09, 2020

“The state of governance of the investee companies is an important aspect and insurance companies must ensure that investee companies maintain corporate governance standards at high level,” IRDAI said in its revised guidelines on stewardship code for insurers in India.

RBI holds rates, eases lending to housing, auto and MSMEs
Fri, Feb 07, 2020

In a bid to boost flow of bank credit to productive sectors in a sluggish economy, the central bank also announced a cash reserve ratio (CRR) exemption on incremental retail loans in the automobile, housing and the micro, small and medium enterprises (MSME) sectors until July 31, 2020.

‘Only 6% of Gen Z consumers credit active, two-wheelers on top of loan list’
Thu, Feb 06, 2020

The percentage of the Indian population that was classified as Gen Z — ranging from age 0-24 as of CY 2019 — was 44 per cent, representing more than 609 million people.

Explained: All you need to know about hike in bank deposit insurance
Wed, Feb 05, 2020

Bank depositor insurance hiked: Why has the government decided to hike bank deposit insurance? What is the role of DICGC? What impact will the hike in bank deposit insurance have on banks? We explain.

Budget 2020: International bullion exchange in GIFT City may lead to better price discovery
Sun, Feb 02, 2020

GIFT City would set up an international bullion exchange as an additional option for trade by global market participants, Finance Minister Nirmala Sitharaman said. The country’s only International Financial Services Centre (IFSC) is in GIFT City, near Ahmedabad in Gujarat.

Union Budget 2020: Rs 5 lakh insurance in case bank goes bust; cover hiked from Rs 1 lakh now
Sun, Feb 02, 2020

The government move is expected to instill confidence among depositors as the proposal will increase the safety of the money deposited in banks. The bank deposits are insured under the Deposit Insurance and Credit Guarantee Corporation Act.

Budget 2020: Govt asks RBI to extend MSME loan recast scheme
Sun, Feb 02, 2020

The government proposal, announced in the Union Budget, would help MSME entrepreneurs – who were hit by demonetization and GST implementation — in supporting their business.

Union Budget 2020: Tour packages, overseas remittances under tax net
Sun, Feb 02, 2020

According to the Budget documents, an authorised dealer receiving an amount or an aggregate of amounts of Rs 7 lakh or more in a financial year for remittance out of India under the LRS of the Reserve Bank of India, will be liable to collect TCS, if he receives sum in excess of said amount from a buyer at the rate of five per cent.

Explained: Why the markets fell, recorded sharpest Budget-day dip in 11 years
Sun, Feb 02, 2020

The benchmark Sensex fell 1092 points intra-day and closed 988 points down at 39,735.53. The broader Nifty at the National Stock Exchange fell 2.5 per cent to close at 11,661.

Merger of PSBs, insurers to set the stage for reshuffle in health insurance portfolio
Wed, Jan 29, 2020

The government is planning to expedite the merger of three public sector general insurance companies and an indication to this effect is likely to be announced in the Budget.

Insurers set to launch ‘pay as you use’ motor policy, app-based multi-vehicle cover
Thu, Jan 23, 2020

The Insurance Regulatory and Development Authority of India had recently approved 33 proposals — out of 173 proposals it received — from various non-life insurance companies under the regulatory sandbox structure.

FDI hike in insurance: Management control among key issues for govt
Mon, Jan 20, 2020

The success of a hike in FDI will hinge, to a large extent, on sorting out the ownership and management control which is currently under Indian promoters and investors, experts said.

‘Home loan growth declines sharply’
Thu, Jan 16, 2020

Affordable housing segment, defined as loan size up to Rs 25 lakh million, saw the lowest growth of 4.1 per cent in Q3 2019.

Irdai penalises brokers for cheating Tata AIG
Mon, Jan 13, 2020

Tata AIG General made a complaint to Irdai against Unison lnsurance Broking Services alleging fraud in reinsurance placement pertaining to crop insurance, with a premium of around `300 crore in Rajasthan cluster for Kharif 2018 season.

Despite overall fall in commercial bad assets, MSME bad loans on the rise
Fri, Jan 10, 2020

The overall NPAs of commercial lending declined 20 bps to 16.8 per cent in September last, marginally lower than 17 per cent in September 2018, the report said.

Apr-Nov: Housing loans grow 9.9%, non-food credit growth falls to 0.5%
Thu, Jan 02, 2020

On a sequential basis (Q2 of 2019-20 over Q1 of 2019-20), the all-India HPI rose by 0.2%, with Jaipur recording the highest rise and Kochi seeing the maximum contraction.