Page 607 - Finance News

RBI changes SLBC convenors over merger of 10 PSBs into 4 from April 1

The government on March 4 notified the amalgamation scheme as part of its consolidation plan to create bigger and stronger banks in the public sector

Bank of Baroda cuts personal, retail loan rates by 75 bps to 7.25%

The BRLLR linked to RBI Repo Rate is revised downwards in line with the reduction on Reserve Bank of India Repo Rate from 5.15 per cent to 4.40 per cent

Defaulting promoters may get lifeline, lenders may defer pledged share sale

However, this isn't a blanket policy and will be implemented on a case-by-case basis; accounts granted relief will undergo supervisory review

Banks face operational hurdles in implementing 90-day loan moratorium

With branches and call centres working with skeletal staff, communicating to customers and documenting the process are key challenges

Bank of India cuts MCLR up to 25 bps across category, deposit rate cut next

RBI has expanded liquidity in the system sizably to ensure financial markets and institutions are able to function normally, in the face of Covid-related dislocation

Coronavirus lockdown: IBBI gives time-limit breather for IBC cases

The government had recently raised the threshold for default from Rs 1 lakh to Rs 1 crore to prevent triggering of insolvencies

Banks face operational hurdles in implementing 90-day loan moratorium

With branches and call centres working with skeletal staff, communicating to customers and documenting the process are key challenges

Indian Bank launches mobile ATM to help public deal with Covid-19 crisis

Customers of other banks can also use the facility

Keep banking channels up and running; maintain smooth cash withdrawals: FM

Banks are expected to witness a surge in transactions across channels next week, owing to salary payments to employees

SBI raises $100 mn via green bonds amid volatile market conditions

The bond issue was done through private placement.

Covid-19: Bank employees seek transportation, police protection for working

With the Prime Minister announcing the national-level lockdown and public transportation being stopped in most of the cities, many employees are unable to attend office.

A bazooka of liquidity & ventilator for credit: RBI's response to covid-19

The timely and decisive action by the Reserve Bank of India (RBI) provides vital liquidity and ensures that credit lines remain open

RBI relief package to help sustain businesses during coronavirus: Bankers

The Union Bank CEO said that the RBI's package would help in sustaining business at a time when a 21-day nationwide lockdown to stop the spread of the COVID-19 virus

SBI cuts lending rate by 75 bps as RBI introduces liquidity package

SBI also cut interest rates on retail term deposits by 20-50 bps. For bulk deposits, the cut was steeper, by 50-100 bps, due to huge liquidity in the system

Covid-19 relief: RBI cuts repo 75 bps; defers term-loan EMIs for 3 months

Repo down to 4.4%; reverse repo reduced by 90 basis to 4%; CRR lowered by a percentage point to 3%; inflation and growth forecast not given as they would depend on the extent of the coronavirus crisis

Realty firms see liquidity improving, demand boost over RBI rate cut

The new announcements would help lift home buyer sentiment, kick-starting the demand cycle for mid-range homes and in affordable housing

Moratorium a good option for the cash-starved, banks to take final call

The moratorium is for three months on payment of all instalments due between March 1, 2020, and May 31, 2020, including credit card payments

NBFCs to use RBI's liquidity boost to focus on refinancing debt obligations

On Friday, the Reserve Bank of India (RBI) came up with policy measures to ensure there is enough liquidity in the system

RBI opens up intervention avenue in offshore rupee derivative market

The central bank is tight-lipped on its intervention strategy, but it is suspected that it recently intervened in a huge amount in the offshore markets

Corporate bonds get Rs 1-trn relief as coronavirus ignites large sell-offs

The RBI governor, in his video-streamed speech, said the central bank was taking this route as the COVID-19 pandemic has ignited large sell-offs in asset classes