In a minor reshuffle of the portfolios of her ministers, West Bengal Chief Minister Mamata Banerjee today brought back Indranil Sen as minister of state for information and cultural affairs (I&CA) department. Sen, who was shifted by Banerjee as her deputy in ... Business Standard, 1 day ago
While rate cuts may increase churn between banks, these may not boost credit offtake meaningfully. A telecom moment for the banking sector” was how a banking analyst with a reputed brokerage summed up the lending rate cut frenzy by banks. Though the Street was expecting some cuts (30-40 basis points) in the marginal cost of funds-based lending rate (MCLR), the sharp 90-bp cut by State Bank of India has taken many by surprise. Given that most banks have followed SBI’s lead, ...Rediff.com, 1 month ago
Bank of America Merrill Lynch Economist Indranil Sen Gupta said in a report today that they were more confident that 2017 will see more lending rate cuts, which will cushion the hit from the demonetisation shock. SBI had cut lending rates by 0.90 per cent and ...Business Line, 1 month ago
RBI on Monday conducted an unprecedented level of liquidity infusion to the tune of Rs 3.3 lakh crore, in which banks bid for as much as Rs 4.5 lakh crore. The central bank said it would conduct a liquidity infusion auction of Rs 1 lakh crore on Tuesday as well, to help banks tide over the liquidity crisis. Upset by the Reserve Bank of India’s decision to charge the entire deposits that banks collected between September 16 and November 11 as a reserve requirement, bankers have said they ...Rediff.com, 2 months ago
Bank of America Merrill Lynch's economist, Indranil Sen Gupta, expects the government to raise additional income tax to the tune of 0.7 per cent of GDP from the black money that converts into bank deposits. This should allow the finance minister to meet the ...Business Line, 2 months ago
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