Acharya left the RBI on July 23 2019, six months before his term was scheduled to end
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.
Sashidhar Jagdishan will be appointed for a period of three years starting from October 27, HDFC Bank said in a BSE filing.
As per the latest figure, there are 40.05 crore beneficiaries of this scheme and deposits in Jan Dhan bank accounts are in excess of Rs 1.30 lakh crore.
The total income during the period under review increased to Rs 11,941.52 crore, from Rs 11,526.95 crore in the year-ago period, Bank of India (BoI) said in a regulatory filing.
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.
“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
Bankers are worried that loan restructuring, if allowed, will be misused by corporates.
As part of the Aatmanirbhar Bharat Package, the government had announced Rs 3 lakh crore Collateral-free Automatic Loans for businesses, including MSMEs.
State Bank of India's (SBI) standalone total income increased to Rs 74,457.86 crore in the first quarter of 2020-21 as against Rs 70,653.23 crore in the same period a year ago, as per the financial results posted by the bank on stock exchanges.
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.
Total income during the quarter rose to Rs 26,066 crore from Rs 21,405.50 crore a year earlier, the bank said.
According to the RBI, nearly 50 per cent of the customers, accounting for around half of outstanding bank loans, opted to avail the benefit of the relief measures — loan moratorium — to tackle the lockdown impact.
The Reserve Bank of India (RBI) released its Financial Stability Report today where it warned the gross nonperforming assets (GNPA) ratio of all scheduled commercial banks could rise to 14.7 per cent under very severe stress.
In a book released Friday, Patel -- who headed the RBI between September 2016 and his unexpected resignation in December 2018 -- said the government seemed to lose enthusiasm for the legislation in the middle of the year he left the central bank.
Bank managements and unions have agreed to introduce the system of performance-linked incentive (PLI) in public sector banks for the first time.
The SBI report said as per the regulatory requirement, banks in the country need to have a regulatory capital of 9 per cent of risk weighted assets (RWA) along with additional Capital Conservation Buffer (CCB) of 1.875 per cent, which was slated to increase to 2.5 per cent by March 20.
Under monetisation, the Centre can raise funds directly from the RBI via issuance of “COVID perpetual bonds” or such instruments.
The consortium is set to move the court under Section 8 (8) of the Prevention of Money Laundering Act (PMLA) to stake its claim on the mortgaged assets attached by the ED, said sources.
“Rural economy seems to have been relatively isolated from the virus. There was too much pessimism around. In response to high frequency indicators… there was marked improvement in May which sustained in June,” Aditya Puri said.
Some of the members have sought details about the expenditure under the PM Garib Kalyan Yojana and whether the expenses have been reimbursed by the government to the EPFO.
“The measure is expected to save Rs 1,000 crore through cost optimisation and will be a key component of our business continuity during the times of COVID-19,” SBI Chairman Rajnish Kumar said at SBI’s virtual annual general meeting.
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.
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.
Reserve Bank of India (RBI) Governor Shaktikanta Das on Saturday had said that “building buffers and raising capital will be crucial not only to ensure credit flow but also to build resilience in the financial system” in the wake of the pandemic-induced stress.