Follow Us:
Sunday, September 27, 2020

George Mathew


Reliance Retail adds Future Group firms to its shopping cart
Sun, Aug 30, 2020

After months of negotiations, Reliance Retail Ventures Ltd announced Saturday that it is acquiring the retail and wholesale business, including the Big Bazaar hypermarket chain, and the logistics and warehousing business from the Future Group as going concern on a slump sale basis.

Rupee gains nearly 2% in a week: What are the factors driving the upswing?
Sun, Aug 30, 2020

FPIs have bought Rs 46,602 crore worth of shares so far in August, the highest monthly inflow in calendar year 2020.

Explained: Why RBI sent Rs 73,615 crore to its Contingency Fund
Thu, Aug 27, 2020

The Reserve Bank of India has retained most of its surplus and transferred less to the government.

Consumption shock severe, economic recovery will take longer, poorest hit the hardest: RBI
Wed, Aug 26, 2020

“Private consumption has lost its discretionary elements across the board, particularly transport services, hospitality, recreation and cultural activities,” the RBI said in its Annual Report for 2019-20.

Bank frauds jump 159% in 2019-20; PSBs account for Rs 1.48 lakh crore
Wed, Aug 26, 2020

According to the RBI, a major chunk of the frauds were reported on the advances front with 4,610 cases for Rs 1,82,051 crore, which works to around 98 per cent of the total value of frauds.

Banks Board Bureau to interview four SBI MDs for Chairman post on August 28
Tue, Aug 25, 2020

Ashwani Bhatia, who took charge as one of the MDs of SBI on Monday and three existing MDs — Dinesh Khara, Arijit Basu and CS Setty — will be attending the virtual interview.

Under scanner of probe agencies, Sterling Group yet to be named wilful defaulter by many banks
Mon, Aug 24, 2020

When the Reserve Bank of India (RBI) took up the matter with Indian Overseas Bank (IOB), the latter informed it had initiated action for classifying the account as wilful defaulter but had kept the same in abeyance due to receipt of a one-time settlement (OTS) proposal.

Elevated inflation ‘undermining MPC’s actions’ to revive growth
Fri, Aug 21, 2020

Notwithstanding large rate cuts to spur growth over the last year and a half, growth has steadily declined despite 250 basis points (bps) in cuts since February 2019. “Future MPCs should not go soft on inflation,” Ghate said in his parting shot.

COVID-19 propels rush for health cover: retail policy premium income up 31% in July
Wed, Aug 19, 2020

Health policy premium income at the retail level (individuals) rose 31 per cent to Rs 7,124 crore as of July 2020 from Rs 5,667 crore last July, as per figures released by General Insurance (GI) Council.

Economists average around 20% contraction in June qtr GDP; informal, small-scale, agri may broaden impact
Tue, Aug 18, 2020

The economic activity was expected to recover slightly with the unlock process, but the July-September quarter’s growth estimates are now being revised downwards with intermittent localised lockdowns resulting in slack economic activity and weak demand.

‘RBI step on loan recast scheme will be of great relief to borrowers, banks’: Atanu Kumar Das
Sun, Aug 16, 2020

"The RBI announcements on August 6 have permitted restructuring of stressed assets, caused by the COVID-19, across corporate, MSME sectors as well as for personal loans segments, without downgradation of assets quality," says Atanu Kumar Das, MD and CEO of Bank of India.

Usage of debit, credit card surges: Transactions up 111% from April low
Fri, Aug 14, 2020

Transactions using debt and credit cards jumped to Rs 1,05,266 crore in June as against Rs 49,807 crore in April.

Explained: Why big outflow in equity funds
Fri, Aug 14, 2020

July has seen the biggest monthly net outflow since Oct 2013 — the result of both falling income levels due to stress in the economy, and profit booking as markets have recovered.

RBI bans routing of term loans via current accounts
Tue, Aug 11, 2020

Banks without significant exposure to a borrower cannot open their current accounts.

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?
Mon, Aug 10, 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
Mon, Aug 10, 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.