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About 65 results for "rbi rsquo"

'RBI now has a problem of plenty'
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'RBI now has a problem of plenty'

While RBI’s foreign exchange reserves have swelled to over $400 billion, it has a ‘sell’ position of $981 billion. The Reserve Bank of India (RBI) has built up a $31-billion position in rupee-dollar forwards as a continuous foreign fund inflow has necessitated active intervention by the central bank in the spot market. Forwards contracts are designed to buy foreign currencies at pre-agreed prices. A buyer has to pay a fee, the forward premium, for the right to buy at that ... Rediff.com, 2 months ago
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RBI tells PNB to pay up LoU dues to other banks

RBI seeks detailed report on what happened between 2011 and now; bankers to recall loans to Nirav Modi entities.  The Reserve Bank of India has advised Punjab National Bank to pay up dues to banks for claims against letters of undertakings and also sought a detailed report on what happened between 2011 and now.  Moving into damage control mode after the LoU fraud amounting to Rs 114 billion, the banking regulator also asked all lenders to tighten their monitoring of such LoUs and ...
 Rediff.com1 day ago
Rediff.com

Banks' NPAs may surge after RBI's new rules

The amount of loans that carry a high risk of slippage into the NPA category over the next few quarters is about Rs 2.8 trillion.  Over Rs 2.8 trillion worth of loans, where payments have remained outstanding for 60-90 days, carry the risk of slipping into the category of non-performing assets (NPAs) due to the revised framework for stressed loans.  Besides pushing up the tally of gross NPAs, this may add to the pressure on banks to make enhanced provisions.    In banking ...
 Rediff.com3 days ago Bankruptcy will influence M&A trend in 2018  Rediff.com1 month ago
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RBI revises framework to resolve stressed bank accounts

Banks given 180-day time for NPA resolution, matter to be referred to Insolvency Board within 15 days.  The Reserve Bank of India on Monday precluded chances of banks reporting divergent asset classification norms on the same account by stating that if in a consortium a bank faced default, others must start taking action to recover the dues.  This is part of a revised framework on resolving stressed accounts, put up late on Monday night on the RBI website.  The framework did ...
 Rediff.com4 days ago
Rediff.com

Banks don't want changes in MCLR calculation: RBI

Banks argued that loans of most lenders are funded primarily by retail deposits and not from the wholesale market as was the practice abroad Banks are opposed to the move to link marginal cost-based lending rate (MCLR) to an external, market-linked benchmark, the Reserve Bank of India (RBI) has revealed in a rare dissemination of feedback on its website.   While it is standard practice for RBI-appointed committees to prepare their reports and seek feedback, those are not publicly ...
 Rediff.com5 days ago

IIM-A global ranking, quality of teaching key challenges: Errol D’Souza

As the news of the appointment of professor Errol D’Souza as the new director of the Indian Institute of Management, Ahmedabad, spread, appreciation poured in from all academic circles. Applauding the Ministry of Human Resource and Development for their ...
 DNA2 weeks ago
Rediff.com

A bank without the buck, a bill without teeth

India borrows ideas that we don’t need, like the FRDI Bill, and ignores the ones we need, like rewarding whistle-blowers such as the ones who want to save Bombay Mercantile Bank, says Debashis Basu. Illustration: Uttam Ghosh/Rediff.com The biggest farce in the real life application of the Financial Resolution and Deposit Insurance Bill is: It would not apply to the only segment that needs “resolution” and “deposit insurance” -- the cooperative banks.   These ...
 Rediff.com1 month ago
Rediff.com

Why RBI does not want to hike rates

Instead of a rate hike, or even a pause, there could be a window for the RBI for an interest rate cut The latest inflation print may have surprised many, but the Reserve Bank of India (RBI) may still want to take it easy.   It is probably a prolonged pause for the central bank while a final interest rate cut could still be possible, say economists. Inflation based on the Consumer Price Index (CPI) rose to 5.2 per cent in December. A large chunk of that reading comprised house price ...
 Rediff.com1 month ago
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Pandering of so-called wilful defaulters is peculiar to India

Despite the Indian government’s recent efforts, anecdotal evidence indicates that there has been little change in the extortionist behaviour of a significant proportion of tax and police officials, says Jaimini Bhagwati. Illustration: Uttam Ghosh/Rediff.com In his farewell address on January 17, 1961, the then US President Dwight D. Eisenhower said: “In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the ...
 Rediff.com1 month ago
Rediff.com

3 troublesome twins that will rock economy in 2018

The trio, 'twin shocks' of demonetisation and GST, 'twin balance sheet' problem that has been weakening India’s banking system and the 'twin deficit' problem will continue to challenge economic management and performance in the year ahead, says Shankar Acharya. Illustration: Uttam Ghosh/Rediff.com Over the past year, two pairs of twins have dominated economic developments in India. The first refers to the “twin shocks” of demonetisation (Demon for short) of November 2016 and ...
 Rediff.com1 month ago
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