 "Manojit Saha")
Manojit Saha
Manojit Saha
Manojit Saha is the Banking Editor for Business Standard and is based in Mumbai. He has been tracking the financial sector for over two decades, with a focus on the Reserve Bank of India and monetary policy. He has also contributed to Business Standard's digital offering - The Banking Show - with interviews with business leaders, CEOs and key policy makers. He has anchored panel discussions between CEOs from banking, insurance, NBFCs and fintech industry for the Business Standard BFSI Insight Summit, and the Business Standard-IMGC India Mortgage Leadership Conclave, among others.
Manojit Saha is the Banking Editor for Business Standard and is based in Mumbai. He has been tracking the financial sector for over two decades, with a focus on the Reserve Bank of India and monetary policy. He has also contributed to Business Standard's digital offering - The Banking Show - with interviews with business leaders, CEOs and key policy makers. He has anchored panel discussions between CEOs from banking, insurance, NBFCs and fintech industry for the Business Standard BFSI Insight Summit, and the Business Standard-IMGC India Mortgage Leadership Conclave, among others.
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RBI raises repo rate by 40 bps in surprise move; CRR increased by 50 bps
The 10-year government bond shot up 26 bps, with the street expecting another rate hike in the June policy
 "RBI raises repo rate by 40 bps in surprise move; CRR increased by 50 bps")
RBI Governor Shaktikanta Das to make unscheduled statement at 2 pm
The yield on 10-year benchmark bond spiked 9 bps to touch 7.2% after the news
 "RBI Governor Shaktikanta Das to make unscheduled statement at 2 pm")
Fino Payments Bank holdco tweaks rule on voting day to eject bank chief
The resolution to reappoint Mahendra Kumar Chouhan and Punita Kumar-Sinha was voted down by 80% of shareholders, which included 100% of the promoter group
 "Fino Payments Bank holdco tweaks rule on voting day to eject bank chief")
India to overcome Covid-19 pandemic losses by FY35, says RBI report
6.5-8.5% is the feasible range for medium-term steady state GDP growth in India
 "India to overcome Covid-19 pandemic losses by FY35, says RBI report")
Over 50% PMC depositors have stayed with Unity: Centrum Group's Bindra
Unity Small Finance Bank's first leg of journey is integration: Bindra
 "Over 50% PMC depositors have stayed with Unity: Centrum Group's Bindra")
Feasible GDP growth over the medium term is 6.5-8.5%, says RBI paper
Price stability is a necessary precondition for strong and sustainable growth, it adds
 "Feasible GDP growth over the medium term is 6.5-8.5%, says RBI paper")
Axis Bank Q4 net rises 54% at Rs 4,118 cr; net interest income up 17%
Provisioning dropped to Rs 987 cr, down from Rs 2,167 cr during the same period of the previous year
 "Axis Bank Q4 net rises 54% at Rs 4,118 cr; net interest income up 17%")
Bond yields fall 14 bps on less hawkish stance by monetary policy committee
Fall in global crude oil prices also leads to a sharp decline in bond yields
 "Bond yields fall 14 bps on less hawkish stance by monetary policy committee")
Missing inflation mandate is a possibility: RBI's MPC member Jayanth Varma
'The markets should not assume we will guide them, because the data is coming without warning', said Varma
 "Missing inflation mandate is a possibility: RBI's MPC member Jayanth Varma")
MPC panel to get a new face: Rajiv Ranjan likely to replace Mridul Saggar
Rajiv Ranjan likely to replace Mridul Saggar in rate-setting panel
Russia-Ukraine conflict can hurt growth prospects too: MPC minutes
Policy making has to be nuanced and nimble, says RBI governor Shaktikanta Das
Majority of Future Retail secured creditors reject Reliance deal
Shareholders, unsecured creditors back the proposal
 "Majority of Future Retail secured creditors reject Reliance deal")
Future Group lenders reject slump sale proposal to Reliance Retail
Cite 'uncertainty over the entire proposition' for rejecting the proposal
 "Future Group lenders reject slump sale proposal to Reliance Retail")
Indian economy not immune to negative externalities, says RBI report
Spurring private investment key for sustainable growth the report adds
 "Indian economy not immune to negative externalities, says RBI report")
Govt plans regulator for skill gaming industry to curb money laundering
The government is also reviewing the extant legal framework for the online skill gaming industry
 "Govt plans regulator for skill gaming industry to curb money laundering")
Experts see four rate hikes in FY23, beginning June: BS Poll of economists
Nearly 7% retail inflation in March may spur policy tightening
 "Experts see four rate hikes in FY23, beginning June: BS Poll of economists")
Bond yields continue to harden; rupee goes past 76 to a dollar
On Tuesday, the yield on the 10-year benchmark government bond advanced 5 basis points (bps) to close the day at 7.19 % - close to a three-year high
KYC norms likely for online skill gamers to curb money laundering
If platforms facilitating online gaming with stakes are brought within the PMLA's purview, such companies would have to follow the know your customer (KYC) norms while onboarding users
 "KYC norms likely for online skill gamers to curb money laundering")
Monetary policy: RBI to revisit KYC rules after digital lending fraud
RBI Governor Shaktikanta Das said the RBI actions on KYC rules have to be in consonance with the Prevention of Money Laundering Act (PMLA)
Sensitive to the West's sanctions against Russia, says RBI governor
No decision yet on Rupee-Rouble trade
 "Sensitive to the West's sanctions against Russia, says RBI governor")