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FPI investment cap via VRR route hiked to Rs 1,50,000 crore
“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.
Govt Budget math to get boost from AGR mop-up, RBI dividend, tax dispute resolution
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.
RBI raises short-term FPI debt investment limit to 30% from 20% to boost inflows
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.
Maharashtra State Cooperative Bank submits merger proposal with Rupee Bank to RBI
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.
Axis Bank Q3 net up 4.5%, NPAs decline marginally
Gross non-performing assets (NPAs) improved to 5 per cent of the gross advances from 5.75 per cent a year ago.
‘Bank loan fraud’: CBI books Mumbai company; searches at 13 locations
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.
In a first, Reserve Bank discloses board minutes to ‘enhance public awareness’
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.
Kotak Mahindra Bank sees 27% rise in post-tax profit
The private bank incurred a non-recurring expense of about Rs 200 crore towards employee pension obligation during the quarter.
Kotak Mahindra Bank Q3 profit rises 24 per cent to Rs 1,596 crore
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.
Q3: HDFC Bank posts 32.8% growth in net profit, marginal rise in gross NPAs
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.
NPR can be used by banks as a KYC document: RBI
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.
NSE ‘dark fibre’ case: Sebi clears former MD Ravi Narain, 8 others
Rules that the persons can’t be held responsible for misconduct in this issue of co-location case
Provide facility to switch on, off cards to thwart frauds: RBI to banks
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.
RBI tightens debit, credit card usage norms
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.
State-owned banks threaten two-day strike on January 31, February 1
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.
Indians became cautious while taking credit in 2019: Survey
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'.
IndusInd Bank Q3 net rises 33%; asset quality worsens
The revenue from retail business rose 31.6 per cent year-on-year to Rs 5,026 crore from Rs 3,819 crore.
Bandhan Bank profit zooms 121% on Gruh merger impact
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.
Michael Patra named RBI Deputy Governor
Patra, who is currently looking after the Monetary Policy Department as the Executive Director, has been appointed to the post for three years.
Government appoints Michael Patra as new RBI deputy governor
Patra, 59, replaces Viral Acharya, who quit from the post in July last year.
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