Page 5 - Central Bank Of India

RBI launches 2 surveys to gather 'useful inputs' for monetary policy

The Reserve Bank of India on Wednesday launched two key surveys, results of which provide "useful inputs" for the central bank's bi-monthly monetary policy. One of the surveys is to know inflation expectations of households and the other is to gauze the consumer confidence. The March 2023 round of Inflation Expectations Survey of Households (IESH), RBI said, aims at capturing subjective assessments on price movements and inflation, based on their individual consumption baskets, across 19 cities. The cities are: Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Jammu, Kolkata, Lucknow, Mumbai, Nagpur, Patna, Raipur, Ranchi and Thiruvananthapuram. "The survey seeks qualitative responses from households on price changes (general prices as well as prices of specific product groups) in the three months ahead as well as in the one year ahead period and quantitative responses on current, three months ahead and one year ahead inflation rate

Kotak Mahindra Bank, Central Bank of India revise interest rates

Kotak Mahindra Bank increased select deposit rates by up to 25 basis points

Central Bank Q3 net rises 64.16% at Rs 458 cr on improved margins

State-owned lender reports first full quarter after exiting regulator's Prompt Corrective Action regime

Central Bank of India to raise up to Rs 1,500 cr via bonds this fiscal

State-owned Central Bank of India will raise up to Rs 1,500 crore this fiscal by issuing Basel III compliant bonds. The decision was taken at the bank's board meeting held on Monday. The board of directors considered and approved to raise capital through an issuance of non-convertible redeemable unsecured Basel III compliant tier II bonds for amount up to Rs 1,500 crore, the bank said in a regulatory filing. The base issue size is of Rs 500 crore with a green shoe option up to Rs 1,000 crore. Under the Basel-III capital regulations, banks globally need to improve and strengthen their capital planning processes. Shares of Central Bank of India settled 4.93 per cent up at Rs 30.85 apiece on BSE.

PSB index soars 3%; these three constituents have zoomed over 50% in 1 mth

In the past one month, the Nifty PSU Bank index has rallied 17.4 per cent as against a 2.1 per cent gain in the S&P BSE Sensex

RBI starts pilot of its digital currency, allows 9 banks to use it

The e-rupee is set to be test launched within a month for retail use in select locations and users, the Reserve Bank of India had said in a statement Monday

India's inflation numbers may be lower than official data suggests: Report

India's inflation numbers might be better than official data suggests once the massive impact of a government food program is factored in, according to a report released Monday

Go First takes two ECLGS loans totaling Rs 203.5 crore amid cash crunch

Go First's loss more than doubled to Rs 1,807.91 crore in FY22 due to US-based Pratt and Whitney's delay in supplying engines and multiple waves of Covid-19 that affected air travel

RBI should focus on softening core inflation: MPC's Shashanka Bhide

"As far as monetary policy is concerned, moderation in the core inflation should be the priority," Shashanka Bhide, an external member of the Reserve Bank of India's monetary policy committee, said

Digital rupee likely to bring down cost of cross-border payments

The introduction of CBDC for cross-border remittances can bring down costs substantially

We're looking to hire 1,700 bankers this year: Central Bank of India MD

Rao says he doesn't foresee much flight of CASA money into term deposits as deposit rates are hiked

M&M, Central Bank, Solara: Trading strategies for buzzing stocks of the day

These five stocks were are trading with strong gains on Wednesday despite the nervouss undertone in the broader market ahead of US Fed rate decision later tonight.

Central Bank of India soars 15% as RBI removes lender from PCA framework

The RBI removed public sector lender from the Prompt Corrective Action Framework on complying with parameters like net non-performing assets and capital ratios

Stocks to Watch: Central Bank, ITI, M&M, Yes Bank, SpiceJet, PEL, GPT Infra

Stocks to Watch Today: Central Bank of India has removed from the RBI's PCA framework after 5 years; SpiceJet places 80 pilots on leave without pay for three months.

RBI removes Central Bank of India from PCA framework after more than 5 yrs

Central Bank of India has provided a written commitment that it would comply with the norms of Minimum Regulatory Capital, Net NPA and Leverage ratio on an ongoing basis, says RBI

Central Bank withdraws IBC case as Aban Offshore pays one-time settlement

The company has repaid outstanding principal of Rs 121.78 crore to the bank, is in talks with other lenders for debt resolution plan

Retail inflation likely to ease below 6% by March quarter, say analysts

Despite signs of inflation having peaked in India, the outlook remains highly uncertain, members of the central bank's monetary policy committee said in their report

Stocks to watch: L&T, Adani Power, Ambuja Cements, LIC, Paytm, JSW Steel

Stocks to watch today: L&T commissioned a new green hydrogen plant at Hazira in Gujarat; Future Enterprises defaults on payments of interest of two non-convertible debentures (NCDs) of Rs 12.6 crore.

Central Bank of India likely to exit RBI PCA framework soon: Report

Central Bank of India, the only public sector lender under the RBI's prompt corrective action (PCA) framework, may see an exit from restrictions soon following an improvement in its financial health. The bank has already made a representation to the Reserve Bank of India (RBI) based on the improvement in financial parameters on a sustained basis for the past five quarters, sources said. According to sources, the RBI is looking at the bank's request and may take a view on this soon based on quantitative and qualitative parameters. Central Bank of India reported a 14.2 per cent rise in net profit to Rs 234.78 crore in the first quarter ended June this fiscal as compared to Rs 205.58 crore in the same quarter a year ago. In the latest quarter, the bank's gross NPA fell to 14.9 per cent of the gross advances as compared to 15.92 per cent in the year-ago period. Net NPAs too declined to 3.93 per cent from 5.09 per cent in the first quarter of the previous year. Of the three PSU lenders

Central Bank inks pacts with Protium Finance, lncred Fin to offer loans

State-owned Central Bank of India has forged co-lending partnerships with Protium Finance and lncred Financial Services to offer loans to MSME borrowers. The partnerships will provide greater expansion of portfolio by the bank and to these players, the bank said on Friday. The state-owned lender said that Protium Finance will originate and process MSME proposals under the priority sector as per jointly formulated credit parameters and eligibility criteria and Central Bank of India will take into its books 80 per cent of the MSME priority sector loans under mutually agreed terms. "Protium Finance Limited will service the loan account throughout the life cycle of the loan. The co-lending arrangement is expected to help both the entities...as well as help expand reach across India," the bank said in a regulatory filing. Protium Finance has a branch network across 11 states and an AUM of 1,671 crore as of July 31, 2022, with a customer franchise at 1,08,447. Likewise, Incred Financial