“The investment limit under VRR has been increased to Rs 150,000 crore. The investment limit available for fresh allotment will accordingly be Rs 90,630 crore (net of extant allotments and adjustments) and it will be allotted under the VRR–Combined category,” the RBI said.
The Centre is also expected to miss on its target from disinvestment collections. In this year’s Budget, the government has set a disinvestment target of Rs 1,05,000 crore, compared to Rs 80,000 crore in 2018-19. However, the Centre has raised only Rs 18,094.59 crore so far.
The central bank has also increased the FPI in corporate bonds from 20 per cent to 30 per cent. While the RBI move is aimed at arresting the outflow of FPI money from the debt market, analysts said short-term is hot money which can exit at a faster rate.
A board of administrators headed by chartered accountant Sudhir Pandit was looking into the affairs of the bank with RBI extending the banking licence intervals. In the latest of such extensions, the Rupee Bank’s licence was extended up to February 20.
Gross non-performing assets (NPAs) improved to 5 per cent of the gross advances from 5.75 per cent a year ago.
The CBI has booked Mumbai-based Frost International for allegedly cheating a consortium of 14 banks of more than Rs 3,592 crore, sources said.
According to the minutes, made public for the first time, the Central Board deliberated on the state of the financial sector along with the supervision of entities, both banks and non-banks.
The private bank incurred a non-recurring expense of about Rs 200 crore towards employee pension obligation during the quarter.
Total income rose to Rs 8,077.03 crore during the quarter under review from Rs 7,214.21 crore in the year-ago period, Kotak Mahindra Bank said in a statement.
Other income (non-interest revenue) at Rs 6,669.3 crore was 32 per cent of the net revenues for the recently ended quarter, as against Rs 4,921 crore in the corresponding quarter ended December 2018.
According to the Reserve Bank’s KYC Master Direction on KYC, updated on January 9, 2020. OVD means the passport, the driving licence, proof of possession of Aadhaar number, the Voter’s Identity Card issued by the Election Commission of India, job card issued by NREGA duly signed by an officer of the State Government and letter issued by the National Population Register containing details of name and address.
Rules that the persons can’t be held responsible for misconduct in this issue of co-location case
RBI has also asked providers to alert or send information to customers through SMS or e-mail whenever there is any change in the status of the card.
Banks have also been asked to offer all cardholders the facility to switch on or off and set or modify transaction limits within overall card limit.
Bank strike on January 31, February 1: If the strike materialises, it will coincide with the Union Budget presentation in the Parliament on February 1. In a circular, UFBU accused the Indian Banks' Association of not paying heed towards the wage revision demand of the bank employees.
Instead of keeping their major goals in life on hold, credit seekers are achieving them by being cautious, the company said in a report titled 'BankBazaar Moneymood 2020'.
The revenue from retail business rose 31.6 per cent year-on-year to Rs 5,026 crore from Rs 3,819 crore.
The jump comes on the back of a 62 per cent year-on-year (y-o-y) rise in total income to Rs 3,075 crore as the benefits of the bank’s acquisition of Gruh Finance came into play.
Patra, who is currently looking after the Monetary Policy Department as the Executive Director, has been appointed to the post for three years.
Patra, 59, replaces Viral Acharya, who quit from the post in July last year.