Page 677 - Finance News
RBI's bonanza to give govt ammunition to fight slowdown, boost capex
This comes at a time when the economic growth rate has slumped to a five-year low after accelerating in the first few years of Modi 1.0 regime
 "RBI's bonanza to give govt ammunition to fight slowdown, boost capex")
RBI's bonanza is an umbrella to a govt that denied existence of clouds
The central bank is coming to its rescue, and without running any immediate risk of exposure to its own credibility
After nearly 8 decades, RBI to change its accounting year to April-March
The RBI, which currently follows July-June calendar, usually transfers dividend after closing its accounts in August
 "After nearly 8 decades, RBI to change its accounting year to April-March")
Explained: How Bimal Jalan committee report saw the light of day
Subhash Chandra Garg was expecting around Rs 1.5 trillion from the RBI
 "Explained: How Bimal Jalan committee report saw the light of day")
Linking lending and repo rates may eat into bank's profitability
Current situation may not allow banks to significantly tinker with deposit rates making it tough to fully pass on the fall in repo rate
 "Linking lending and repo rates may eat into bank's profitability")
Bank of Baroda wants to buy Rs 6,000 crore of securitised NBFC loans in Q2
The bank is in discussions will NBFCs/HFCs such as PNB Housing Finance, Indiabulls Consumer Finance, IIFFL, Annapoorna MFI among others for loans
 "Bank of Baroda wants to buy Rs 6,000 crore of securitised NBFC loans in Q2")
RBI accepts Jalan panel report, okays Rs 1.76 trn surplus transfer to govt
This follows the RBI board accepting the recommendation of a high-level panel headed by its former Governor Bimal Jalan on transfer of excess reserves to the government.
 "RBI accepts Jalan panel report, okays Rs 1.76 trn surplus transfer to govt")
Fincare SFB bets on micro finance, gold loans, eyes 700 branches by March
Bank chief sees rising price of precious metal helping gold loan segment, but is cautious about volatility and possible softening of prices in near future
 "Fincare SFB bets on micro finance, gold loans, eyes 700 branches by March")
RBI board to meet today; likely to take up Bimal Jalan committee report
Jalan committee has recommended transferring the RBI's surplus reserves to the government in a staggered manner over three-five years.
 "RBI board to meet today; likely to take up Bimal Jalan committee report")
Cheaper loans: Bank of Maharashtra to link retail loans with repo rate
Through linking of repo rate to retail loans, the bank is passing interest rate benefits directly to the customers and it will make the retail loans cheaper, it said
 "Cheaper loans: Bank of Maharashtra to link retail loans with repo rate")
Banks may restart lending after Rs 70,000 cr boost but with caution
A significant portion of the capital provided would be tied up in boosting core capital and provisioning against bad debts which would limit the ability of bankers to lend
CVC sets up advisory board to examine banking frauds above Rs 50 cr
The panel in its previous avatar called the Advisory Board on Bank, Commercial and Financial Frauds
 "CVC sets up advisory board to examine banking frauds above Rs 50 cr")
HDFC bank says consumption growth to continue despite economic slowdown
The largest private sector lender said the quality of its credit card portfolio is not yet affected by the broader economic realities and the stressed part is half that of the industry average
 "HDFC bank says consumption growth to continue despite economic slowdown")
Business energy to power India to become $5-trillion economy: RBI Governor
The RBI chief said the slight slowdown in the last quarter was a temporary one and the economy is likely to end the fiscal with higher growth rate of close to 7 per cent
 "Business energy to power India to become $5-trillion economy: RBI Governor")
RBI to soon take steps to boost bond trading: FM Nirmala Sitharaman
In order to improve access to long-term finance, the government would be setting up an organisation to provide credit enhancement for infrastructure and housing projects
 "RBI to soon take steps to boost bond trading: FM Nirmala Sitharaman")
Govt to infuse Rs 70,000-cr capital into public sector banks: FM Sitharaman
The capital infusion, ahead of the festive season, will boost banks' lending capacity by an additional Rs 5 trillion
 "Govt to infuse Rs 70,000-cr capital into public sector banks: FM Sitharaman")
State Bank of India cuts interest rates on fixed deposits up to 0.5%
In view of the falling interest rate scenario and surplus liquidity, SBI realigns its interest rate on Term Deposits with effect from August 26, 2019, SBI said in a statement
 "State Bank of India cuts interest rates on fixed deposits up to 0.5%")
Govt to upfront infuse Rs 70,000-cr capital into public sector banks
The move is expected to generate an additional lending and liquidity in the financial system to the tune of Rs 5 lakh crore, she said at a press conference
 "Govt to upfront infuse Rs 70,000-cr capital into public sector banks")
Bank of Baroda to raise Rs 5,500 crore capital through bonds, ESOP
CEO Jayakumar said the bonds were likely to be floated by August-end or the first week of September to raise tier II/tier I capital
 "Bank of Baroda to raise Rs 5,500 crore capital through bonds, ESOP")
Now, you can allow up to Rs 2,000 of recurring payments via digital wallets
RBI has permitted processing of e-mandate on credit and debit cards, besides prepaid payment instruments, including wallets like Paytm, PhonePe and Amazon Pay for recurring payments of up to Rs 2,000
 "Now, you can allow up to Rs 2,000 of recurring payments via digital wallets")