Page 1074 - Finance News
We'll continue doing what we are doing regardless of US Fed decision: RBI Governor
Rajan said consumer inflation eased to a record low of 3.66% in August due to a favourable base effect or else it would have been in mid-5% range
 "We'll continue doing what we are doing regardless of US Fed decision: RBI Governor")
Faltering US, global economies behind Fed delay: Rajan
The US Fed Reserve again postponed its intended decision to increase the rates from 0.00-.025% till the end of the year, giving a big relief to India and other developing countries
 "Faltering US, global economies behind Fed delay: Rajan")
23 new banking licences granted under Raghuram Rajan
The niche banks - small finance and payments banks -have been set up to further the regulator's objective of deepening financial inclusion
 "23 new banking licences granted under Raghuram Rajan")
Utkarsh Micro Fin seeks to double lending to Rs 2,000 cr by FY17
RBI has given in-principle nod to Varanasi-based micro financer to open small bank
 "Utkarsh Micro Fin seeks to double lending to Rs 2,000 cr by FY17")
Small finance banks: MFIs to scout for domestic equity
With foreign holdings of 70-90% some plan to ask for more time to gradually bring this down
 "Small finance banks: MFIs to scout for domestic equity")
Govt mulls raising FDI limit in private banks to 100%
Currently, 74% FDI is permitted in the private sector banking, of which up to 49% is allowed under the automatic route
 "Govt mulls raising FDI limit in private banks to 100%")
Govt's PSB reform inadequate : Nayak
Reform will begin if laws are rolled back
 "Govt's PSB reform inadequate : Nayak")
MFIs dominate small finance bank licences
RBI grants 10 licences, plans to move to 'on-tap' regime
 "MFIs dominate small finance bank licences")
 "Small ones seek big splash")
RBI gives flexibility to banks for equity investment
Says investment flexibility will be limited to banks that have capital adequacy ratio
 "RBI gives flexibility to banks for equity investment")
Dos and don'ts of small finance banks
Quick check of what the small finance banks will and will not be allowed to do
RBI grants small finance banks licence to 10 entities
Approval granted by RBI will be valid for a period of 18 months
 "RBI grants small finance banks licence to 10 entities")
RBI plans to cap lender numbers in consortium
Move comes after small banks show reluctance to manage stressed loans
 "RBI plans to cap lender numbers in consortium")
NRI remittances surge on rupee fall
Inflows rise both from people who send money to households back-home each month and those who repatriate savings sensing opportune time
 "NRI remittances surge on rupee fall")
Computing base rate by marginal cost method to cause Rs 22,000-cr income loss to banks: ICRA
The RBI proposes to implement the computation guidelines with effect from April 1, 2016
IDBI aims to double business in 3 years
New chief wants more aggression to break out of slow growth lane; rise in stressed loans and falling net, margins need tackling
 "IDBI aims to double business in 3 years")
Suvidhaa acquires mobile PoS platform AasaanPay
AasaanPay is a device that can be plugged into a mobile phone to be used for credit or debit card transactions
 "Suvidhaa acquires mobile PoS platform AasaanPay")
RBI deputy governor says banks need to urgently reduce stressed assets
R Gandhi said the NPAs will impact liquidity and capital in the banking sector
 "RBI deputy governor says banks need to urgently reduce stressed assets")
RBI cancels Sahara's NBFC licence
In June 2008, the central bank had banned the finance company from accepting deposits
 "RBI cancels Sahara's NBFC licence")
Fullerton India to float housing finance company
The company would be floated with a paid-up equity of Rs 100 cr
 "Fullerton India to float housing finance company")