Page 634 - Finance News
Bank of Baroda raises Rs 920 cr via private placement of Basel III bonds
The issue which opened on Thursday and closed the same day, saw a total of 11 allottees through private placement of bonds, the bank said in a BSE filing
 "Bank of Baroda raises Rs 920 cr via private placement of Basel III bonds")
India extends $75 mn line of credit via EXIM Bank for solar parks in Cuba
Banco Exterior De Cuba is a nominated agency of the Government of Cuba
 "India extends $75 mn line of credit via EXIM Bank for solar parks in Cuba")
Podcast: Nirmala Sitharaman's various moves to help revive the economy
Finance ministry is working out mechanism to release the money, stuck after it sanctioned the amount to other ministries & departments for various projects and schemes, to prop up the sagging economy
 "Podcast: Nirmala Sitharaman's various moves to help revive the economy")
SBI will create unit to manage rural, semi-urban business: Rajnish Kumar
Under financial inclusion, the bank has about 58,000 BCs and 22,010 branches across the country to offer banking services
 "SBI will create unit to manage rural, semi-urban business: Rajnish Kumar")
Electricity supply falls for 5th straight month to 1.1% amid slowdown
Power supply fell to 101.92 billion units in December, down 1.1% from 103.04 billion units last year, an analysis of daily load despatch data from state-run Power System Operation Corp Ltd showed
 "Electricity supply falls for 5th straight month to 1.1% amid slowdown")
RBI to conduct OMO to buy, sell govt bonds of Rs 10,000 cr each on Jan 6
RBI said it reserves the right to decide on the quantum of purchase/sale of individual securities; accept bids/offers for less than the aggregate amount
 "RBI to conduct OMO to buy, sell govt bonds of Rs 10,000 cr each on Jan 6")
Bank credit grows 7.1% to Rs 99.47 trn; deposits rise 10% to Rs 130 trn
In the year-ago fortnight, banks' advances stood at Rs 92.87 trillion, while deposits were at Rs 118.16 trillion
 "Bank credit grows 7.1% to Rs 99.47 trn; deposits rise 10% to Rs 130 trn")
Mobile handset manufacturers seek GST cut to 12% from 18-28% on accessories
The PCBA is a key component in the mobile manufacturing ecosystem. It sought continuation of BCD on mobile phones at 20 per cent
 "Mobile handset manufacturers seek GST cut to 12% from 18-28% on accessories")
JM Financial Home Loans eyes Rs 2K-cr loan-book by FY21 with BoB pact
Sheth further said they will also be tapping the customers from those developers whom it funds now to grow the loan book
 "JM Financial Home Loans eyes Rs 2K-cr loan-book by FY21 with BoB pact")
Shriram Transport to issue second tranche of bonds, raise up to Rs 1,000 cr
The base size of the issue is Rs 200 crore with an option to retain oversubscription aggregating up to Rs 1,000 crore
 "Shriram Transport to issue second tranche of bonds, raise up to Rs 1,000 cr")
Bank consolidation: Non-anchor PSBs urge govt for new name after merger
United Bank of India has written to the Government seeking a new name for the entity formed out of its merger with Punjab National Bank and Oriental Bank of Commerce
 "Bank consolidation: Non-anchor PSBs urge govt for new name after merger")
RBI comes up with mobile app to help visually impaired identify notes
The free app doesn't need Internet connection and can identify Mahatma Gandhi series of notes, both old and new, included in half folded conditions
 "RBI comes up with mobile app to help visually impaired identify notes")
RBI says UCBs with deposits of over Rs 100 cr should be run professionally
These UCBs must obtain prior approval of the RBI for appointing the CEO
Third-party ATM switch ASPs to comply with cybersecurity controls: RBI
The RBI-regulated entities have to amend their contracts at the earliest or at the time of renewal, in any case not later than March 31, 2020
 "Third-party ATM switch ASPs to comply with cybersecurity controls: RBI")
Govt retains interest rates on small savings; depositors may cheer decision
A cheer for depositors, the move is contrary to what RBI and banks had advised
 "Govt retains interest rates on small savings; depositors may cheer decision")
IL&FS is a test case for group resolution, says Uday Kotak
The new board of Infrastructure Leasing and Financial Services (IL&FS) expects to recover close to 50 per cent of the firm's overall debt, which stands at above Rs 94,000 crore
 "IL&FS is a test case for group resolution, says Uday Kotak")
SBI to float $2-bn distressed asset fund; to bring in global partners
The size of the distressed asset fund is expected to be on the lines of the government of India-backed AIF for distressed housing projects
 "SBI to float $2-bn distressed asset fund; to bring in global partners")
Do not want businesses to shut, will help revive: Sitharaman to India Inc
Addressing industry representatives, Sitharaman said India's macro-economic indicators were on a solid footing
 "Do not want businesses to shut, will help revive: Sitharaman to India Inc")
IMF raises questions over methodology to calculate GDP growth in India
IMF also said there were weaknesses in the deflation method used to derive value added. Deflators are used to convert GDP at current prices to constant prices
 "IMF raises questions over methodology to calculate GDP growth in India")
IMF cautions India against fiscal stimulus, says govt should go for reforms
The Budget projected the Centre's fiscal deficit to come down to 3.3 per cent of the country's gross domestic product (GDP) in 2019-20 against 3.4 per cent a year ago
 "IMF cautions India against fiscal stimulus, says govt should go for reforms")