Page 1154 - Finance News
It's premature to take a strong view on the new GDP numbers: Raghuram Rajan
Following are the excerpts from RBI Governor Raghuram Rajan's interaction with the media after the monetary policy announcement
 "It's premature to take a strong view on the new GDP numbers: Raghuram Rajan")
Flexibility in loan recast to boost M&As of stressed assets
RBI sends clear signal it will stick to its decision to end forbearance regime for loan restructuring
 "Flexibility in loan recast to boost M&As of stressed assets")
RBI signal: Budget first, rate cuts later
Market still hopes for 50-75 bp repo rate reduction this year
 "RBI signal: Budget first, rate cuts later")
Some calm amidst the storm: Sajjid Chinoy
The move to inflation targeting is predicated on the principle of having as many instruments as targets.RBI should use interest rates to fight inflation
 "Some calm amidst the storm: Sajjid Chinoy")
Different deposit rates for those who want to withdraw prematurely
Those looking to invest overseas can send more money abroad
 "Different deposit rates for those who want to withdraw prematurely")
PNB net profit up 2.5% to Rs 775 crore
The country's 2nd largest public sector bank by assets had reported net profit of Rs 755.4 cr for the Oct-Dec quarter of 2013-14
 "PNB net profit up 2.5% to Rs 775 crore")
Bank stocks fall on RBI status quo, bad loan concerns
All banking names had seen sharp increases since Jan 15, when the RBI had cut rates by 25 basis points
 "Bank stocks fall on RBI status quo, bad loan concerns")
 "RBI disappoints mkts; Sensex drops 122 pts")
RBI waits for the Budget
Central bank stays its hand on interest rates
Murugappa Group's Cholamandalam Investment applies for payment bank licence
The payments bank will initially be a wholly-owned subsidieary, but will later look at partners to bring technology or customers
 "Murugappa Group's Cholamandalam Investment applies for payment bank licence")
Muthoot Fincorp launches BC operations with Yes Bank
Under this comprehensive financial services such as credit, savings and insurance to the self-help groups will be provided to customers of Yes Bank through branches of MFL
 "Muthoot Fincorp launches BC operations with Yes Bank")
Bank staff on 4-day strike Feb 25-28, indefinite from March 16
Talks between Union & IBA at Mumbai today failed
 "Bank staff on 4-day strike Feb 25-28, indefinite from March 16")
India Inc hopes RBI will resume rate cut cycle after Budget
CII is hopeful that the RBI will resume its accommodative monetary policy stance in the next policy review
 "India Inc hopes RBI will resume rate cut cycle after Budget")
Can't ask banks to cut rates, competition will force them: Rajan
Says rate cut is the decision of banks and we cannot nudge them to cut lending rates
Loan recast: Rajan spurns bankers call for extension
Says to build the confidence in banks' balance sheets, we have to come to an end of forbearance
HDFC Bank likely to raise Rs 10,000 cr this month
The proposal got clearance from CCEA last month
 "HDFC Bank likely to raise Rs 10,000 cr this month")
Rajan defends status quo, says more easing tied to fiscal data
He indicated that the quality of fiscal consolidation, rather than the headline deficit number alone, will be important for him while undertaking any further cuts
 "Rajan defends status quo, says more easing tied to fiscal data")
Realtors unhappy over RBI policy; seek interest cut in future
The nation cannot afford any more delay in accelerating the economy's growth, says CREDAI Chairman Lalit Kumar Jain
FIIs place bids worth Rs 813 crore for govt bonds
Rs 310 crore auction for debt securities oversubscribed more than two times
 "FIIs place bids worth Rs 813 crore for govt bonds")