Page 335 - Latest Updates on Reserve Bank of India
Top 10 biz headlines: External benchmarking of rates, GST cut mooted & more
From RBI making it mandatory to link all fresh retail loans to an external benchmark to the FinMin crunching numbers to estimate revenue loss from GST rate cuts, here are today's top business news
 "Top 10 biz headlines: External benchmarking of rates, GST cut mooted & more")
RBI mandates banks to link fresh retail loans to external benchmark
Move to cover fresh retail, MSME loans from Oct 1; home, auto loans to get cheaper
 "RBI mandates banks to link fresh retail loans to external benchmark")
Link all new floating-rate home, auto loans to repo from Oct: RBI to banks
The apex bank also said that the interest rate under external benchmark, like repo, should be reset at least once in 3 months
IDBI Bank to get Rs 9,300-crore capital infusion from promoters
This is the first time the government has decided to pump money in IDBI Bank after LIC acquired a majority stake of 51 per cent in the bank - a process completed in January
 "IDBI Bank to get Rs 9,300-crore capital infusion from promoters")
Foreign exchange dealers under lens for large overseas remittances
ED and Directorate of Revenue Intelligence have detected a significant increase in the outflow of Indian money, specifically into four countries--Thailand, Dubai, Singapore and Hong Kong
 "Foreign exchange dealers under lens for large overseas remittances")
RBI task force for allowing FPIs to directly purchase distressed loans
There should be a central loan contract registry, the task force suggested
 "RBI task force for allowing FPIs to directly purchase distressed loans")
Rupee at nine-month low, tracking fall in yuan; Sensex crashes 776 pts
Bank treasuries, and perhaps the RBI are closely tracking the yuan movement, and are devising strategies accordingly
 "Rupee at nine-month low, tracking fall in yuan; Sensex crashes 776 pts")
Market tanks despite policy measures; brokerages stay cautious on earnings
Since the presentation of the Budget in July, markets have mostly been a one-way street with the Nifty50 slipping over 8%
 "Market tanks despite policy measures; brokerages stay cautious on earnings")
Indian Bank adopts repo rate as external benchmark for asset products
Under the new regime, home loans can be had at 8.2% a year, while four-wheeler loans will carry 8.85%, which the lender says is the lowest in the market
 "Indian Bank adopts repo rate as external benchmark for asset products")
Manufacturing growth down at 15-month low in Aug on demand slowdown: PMI
However, it has remained above the 50-mark separating growth from contraction for more than two years
 "Manufacturing growth down at 15-month low in Aug on demand slowdown: PMI")
Jalan panel didn't get RBI funds pouring for govt; just led to a drizzle
Even that's enough for the parched earth of government finance
 "Jalan panel didn't get RBI funds pouring for govt; just led to a drizzle")
Govt lost political capital in getting RBI funds but gained very little
In retrospect, the government's move to get more RBI funds for itself has paid it no dividend
Letter to BS: Long overdue banking sector reforms is the need of the hour
Success of the process of consolidation of state-owned banks depends on the enhanced capability of the RBI to exercise its regulatory oversight and ensure financial stability
 "Letter to BS: Long overdue banking sector reforms is the need of the hour")
I felt time was right for me to go: LVB MD & CEO Parthasarathi Mukherjee
Claims he resigned for personal reasons, adds that a new person at the helm may succeed where he failed
 "I felt time was right for me to go: LVB MD & CEO Parthasarathi Mukherjee")
Nomura cuts 2020 India growth forecast to 6.9%; pegs global growth at 3.3%
Nomura expects a gradual growth recovery to set in in the latter part of 2020, as Asian economies benefit from ongoing policy easing and a potential capex recovery in the tech sector
 "Nomura cuts 2020 India growth forecast to 6.9%; pegs global growth at 3.3%")
RBI report reveals changes that helped boost dividend transfer to govt
Valuation method change, provision write-back play key roles to boost dividend
 "RBI report reveals changes that helped boost dividend transfer to govt")
RBI could have gone for higher risk provisioning, says Rakesh Mohan
This year's surplus was higher than usual and therefore, a large transfer in any case was going to happen, says Mohan
 "RBI could have gone for higher risk provisioning, says Rakesh Mohan")
An exceptional year
Govt needs to reduce dependence on RBI
Govt should use funds from RBI to stimulate economy, says ADB chief
The visiting ADB president supported the RBI's approval to the fund transfer and said the country should come up with more such ideas to support growth
 "Govt should use funds from RBI to stimulate economy, says ADB chief")
Currency in circulation increases 17% in FY19 to Rs 21.1 trillion: RBI
The Rs 500 and Rs 2,000 bank notes constituted 82.2% of the total value of bank notes in circulation at the end of March 2019
 "Currency in circulation increases 17% in FY19 to Rs 21.1 trillion: RBI")