Wednesday, May 12, 2021
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Microfinance institutions want more from RBI

Anticipating fresh erosion of collection efficiency and liquidity following the catastrophic second wave of the coronavirus pandemic, the microfinance sector has lobbied for further financial assistance from the Reserve Bank of India. Industry association Sa-Dhan has sought an emergency credit line for their members of up to 25 per cent

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RBI modifies norms for undertaking govt business by private banks

The Reserve Bank on Monday came out with modified guidelines that allow sound private sector banks to undertake government business, whether at the Centre or in states. According to the modified norms, scheduled private sector banks, which are not under the Prompt Corrective Action (PCA) framework of the RBI,

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Reserve Bank of India appoints Jose J Kattoor as new Executive Director

The Reserve Bank of India (RBI) has appointed its Bangalore regional head, Jose Kattoor as executive director (ED) with effect from May 04, 2021. As ED Kattoor will look after human resource management, corporate strategy, budget and rajbhasha departments at the central bank. Kattoor spent three decades in the central bank

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RBI’s relief measures to only delay stress for financial institutions: Fitch

Relief measures announced by Reserve BnakBank of India last week to help lenders and borrowers during the new devastating wave of COVID-19 infections will only delay the stress for financial institutions, Fitch Ratings said on Monday. The Reserve Bank of India (RBI) rolled out last Wednesday a slew of measures

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National Asset Reconstruction Company to be operational next month: IBA CEO

National Asset Reconstruction Company Ltd (NARCL), the name coined for the bad bank announced in the Budget 2021-22, is expected to be operational in June. Bad bank refers to a financial institution that takes over bad assets of lenders and undertakes resolution. The new entity is being created in

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Indian banks’ loans rose 5.7% y/y in two weeks to April 23, says central bank

Indian banks' loans rose 5.7% in the two weeks to April 23 from a year earlier, while deposits climbed 10.3%, the Reserve Bank of India's weekly statistical supplement showed on Friday. Outstanding loans fell by 280.39 billion rupees ($386.57 million) to 108.6 trillion rupees in the same period. Non-food credit fell

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