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Monday, August 10, 2020

George Mathew


Kerala plane tragedy: Global reinsurers to shell out over 90% of crashed Air India Express plane claim
Mon, Aug 10, 2020

Air India Express’s aircraft is reinsured for around Rs 375 crore and Air India will recover this amount from reinsurers as the plane has been totally damaged.

Explained: Why are forex reserves shooting up when Indian economy is hit?
Sun, Aug 09, 2020

At a time when the economy is under stress and the growth is expected to contract in 2020-21, the rising forex reserves have come as a breather for the economy as it can cover India’s import bill of more than one year.

Explained: RBI’s new loan recast scheme
Sun, Aug 09, 2020

The RBI has cleared a loan restructuring scheme for borrowers under stress because of the pandemic. How will the scheme work, and what safeguards are in place to prevent misuse?

Explained: Why the RBI has left interest rates unchanged
Sun, Aug 09, 2020

The RBI monetary policy review has kept interest rates on hold, contrary to broad market expectations. A look at how concerns around inflation and growth led to this decision, and other key highlights.

RBI nod to Jagdishan as HDFC Bank MD & CEO; Puri set to retire in Oct
Wed, Aug 05, 2020

Kaizad Bharucha, executive director and head of wholesale banking at HDFC Bank, was the next choice and Sunil Garg, global CEO of Citi Commercial Bank, was third.

As cases surge, Covid health claims jump 240 per cent over a month
Mon, Aug 03, 2020

While there have been over 37,000 Covid deaths so far, Life Insurance Corporation (LIC), the nation's largest life insurer, has only seen 561 Covid death claims, amounting to Rs 26.74 crore.

Negative returns for savers may hold back RBI from repo rate cut
Mon, Aug 03, 2020

Technically, bank deposits are fetching negative real returns of nearly one per cent (-0.99 per cent) as one-year fixed deposit rate has come down to 5.10 per cent (State Bank of India rate) whereas inflation in June was 6.09 per cent.

Privatisation of healthier PSBs should be on table: Viral Acharya
Sat, Aug 01, 2020

“In my opinion, the divestments are a first step ... divestment beyond majority stake, because they will help relax the fiscal constraint,” former RBI Deputy Governor Viral Acharya said

RBI cautions about corporate, HNI dominance in debt funds
Fri, Jul 31, 2020

Corporates and high net-worth individuals comprise more than 90 per cent of the aggregate assets under management for debt funds.

RBI may allow one-time loan recast in construction & real estate, tourism and aviation
Thu, Jul 30, 2020

Sectors such as tourism, hospitality and real estate have been seeking this relief to tide over the business slump resulting from effects of COVID-19 pandemic induced economic downturn.

Deepak Parekh, Uday Kotak push for one-time restructuring of corporate loans
Tue, Jul 28, 2020

The RBI had announced a three-month moratorium on repayments in March to help borrowers tackle the impact, especially lockdown, of the Covid-19 pandemic.

Govt diluted IBC, its steps hurt RBI’s move on bad loans: Urjit Patel
Sat, Jul 25, 2020

In his new book Overdraft: Saving the Indian Saver, Patel has said that the Supreme Court's April 2019 verdict had not found the RBI’s February 2018 one-day default regulation on the insolvency process “problematic”

Amid rising bad loans, losses and COVID disruption, bank staff to get 15% salary hike
Fri, Jul 24, 2020

Bank managements and unions have agreed to introduce the system of performance-linked incentive (PLI) in public sector banks for the first time.

Explained: Here is how banks will roll out their 15% salary hike
Mon, Jul 27, 2020

PSU bank employees salary: The wage hike will benefit employees of old generation private banks and some foreign banks as the agreement has been signed by 11 state-owned banks, 12 private sector banks and seven foreign banks.

Explained: Here is why gold prices are going up
Sat, Aug 08, 2020

Gold Price: Why is the yellow metal continuing its dream run at a time when Covid-19 pandemic has pushed the global economy into a contraction mode? Will the gold prices continue the upward momentum?

Rush to safe haven assets pushes gold to Rs 50,000
Thu, Jul 23, 2020

Standard gold on Wednesday rose to hit a record high of Rs 50,000 per 10 gram in Mumbai, reflecting firmness in the international market.

Google to invest Rs 33,737 cr in Jio, to develop entry-level smartphone
Thu, Jul 16, 2020

RIL Chairman Mukesh Ambani said Jio has designed and developed a complete 5G solution that’s ready for launch as soon as spectrum is made available next year.

Insurance: Health overtakes motor biz
Thu, Jul 16, 2020

The health segment has contributed 36% of the domestic general insurance premium with premium income of `9,122 crore during April-May in FY21.

Banks, RBI deploy close to Rs 8K cr to ease MF liquidity
Wed, Jul 15, 2020

The data compiled by the RBI shows banks deployed Rs 5,522 crore from their own resources under the Special Liquidity Facility for Mutual Funds (SLF-MF) scheme for Rs 50,000 crore announced by the regulator.

RIL jumps 47 places in 3 mths to 51st most valued company in world with $170 bn m-cap
Tue, Jul 14, 2020

Between April 1 and July 13, RIL has gained $81 billion in market capitalisation and has climbed 47 places from being the 98th most valued company on April 1 to 51st most value company now.

Credit offtake falls Rs 1.81 lakh crore in April, May
Tue, Jul 14, 2020

According to RBI Governor Shaktikanta Das, the liquidity measures announced by the RBI since February 2020 aggregate to about Rs 9.57 lakh crore — equivalent to about 4.7 per cent of 2019-20 nominal GDP.

Shaktikanta Das bats for resolution corporation to revive stressed companies
Sun, Jul 12, 2020

The proposal to set up the resolution corporation has gathered momentum after the financial sector witnessed a series of failures and emergence of stressed firms

Lockdown easing but road ahead tough, Covid biggest test, says RBI Governor
Sun, Jul 12, 2020

Calling the Covid outbreak the “worst health and economic crisis in the last 100 years during peace time with unprecedented negative consequences for output, jobs and well-being,” Das cautioned on the road ahead.

Irdai planning pandemic risk pool, sets up panel
Fri, Jul 10, 2020

The regulator has set up a nine-member committee headed by IRDAI Executive Director Suresh Mathur to recommend the structure and operating model for the pool and submit its report within eight weeks.

COVID cover: Cap set at Rs 18,000 per day for ICU with ventilators at accredited hospitals
Wed, Jul 08, 2020

In the case ‘moderate sickness’, NABH-accredited hospitals (including entry level) can charge Rs 10,000 per day (including Rs 1,200 for PPE) and for non-NABH accredited hospital) it would be Rs 8,000 (including including cost of PPE Rs 1,200).