Page 275 - Reserve Bank Of India

Firms raising 3-month money at much lower than RBI's overnight rates

Even as FCI is raising Rs 75,000 cr for three months at 4.69%, companies are regularly tapping bond market for the same tenure at as low as 3.2%, way lower than RBI's repo rate of 4%

Moratorium case: SC directive to benefit small, mid-sized accounts

Bankers said special mention accounts (SMA)- overdue period between 31 to 60 days (SMA1) and overdue period between 61 to 90 days (SMA2) would have become NPAs in August and September 2020

Aditya Birla Idea Payments Bank ceased to be banking company: RBI

In November last year, the RBI had said that Aditya Birla Idea Payments Bank was headed for liquidation after the company's application for voluntary winding up

SC protects loans not declared NPAs till Aug 31 from such action for now

The Supreme Court Bench said if a loan account had not been declared bad as of the end of August, it should not be classified as NPA till the moratorium case was disposed of

Out of the woods? Analysts turn bullish on NBFCs on improved liquidity

Recent steps by the government and the RBI to keep systemic liquidity and rates benign along with direct liquidity to NBFCs facing constraints, in the wake of Covid-19, have helped, analysts say

Govt must heed Urjit Patel's warning on NPAs, come up with policy response

The former RBI governor has served a warning on the intractable problem of bad loans

Asking banks to waive interest will adversely impact financial system: Govt

Solicitor General Tushar Mehta told the three-judge Bench that waiving interest or granting a blanket moratorium on repayment of loans will be a "knee jerk reaction"

FM to meet heads of banks, NBFCs to review loan recast scheme on Thursday

The Reserve Bank of India (RBI) last month permitted one-time restructuring of both corporate and retail loans without getting classified as a non-performing asset (NPA)

Supreme Court to decide on moratorium interest waiver issue today

The apex court said it would hear the matter again and decide on Wednesday a bunch of petitions demanding waiver of interest, or waiver of interest on interest on the suspended monthly instalments

First economic contraction in 4 decades: India GDP shrinks 23.9% in Q1FY21

The two growth engines, consumer spending and investments contract massively as govt-led spending lifts GDP from falling further. On supply side, only agriculture shows growth, industry contracts 40%

Monetary Policy Committee is just a cosmetic addition, not suited to India

Tackling inflation with monetary policy is like trying to move boulders with eyebrow tweezers

RBI steps in with measures to boost demand for bonds, cool down yields

Says it is comfortable with a rising rupee, which helps bring down import-led inflation, adds that it remains "committed to ensuring comfortable liquidity and financing conditions in the economy"

GST compensation row: FM's 'act of God' can be a nightmare for RBI

The government has invoked "act of God" for not paying its due to the states directly

Managing markets

Bond and currency markets would increase policy difficulties

Credit growth: Barking up the wrong tree?

It is unfair to expect risk capital from banks to prop up the economy. They deal with public money

Second blow for BoB as RBI rejects plan to send Anil Ambani firms to NCLT

An earlier Delhi HC order had stayed BoB and the entire consortium of lenders' move to classify these accounts as fraud, restraining them from taking any other coercive action till the next hearing

West Bengal rejects Centre's borrowing propositions to meet GST shortfall

Says will engage with other states to take collective steps

Future Enterprises board meet on September 7, to take up RIL deal today

Company's board to meet today on sale of retail arms to RIL

RBI's core income growth takes a hit as global interest rates decline

The central bank's core earnings or interest income from its rupee and forex assets were up just 2.3% year-on-year in FY20 despite 30% rise in its assets during the year

Forex reserves surge to $537.548 bn, gold reserves down at $37.26 bn

The country's reserve position with the IMF also increased by $6 million to $4.634 billion during the reporting week