RBI imposes monetary penalty on Mukkuperi Co-operative Urban Bank
This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
RBI Bulletin: India’s Economic Growth Poised for Revival as Demand Strengthens
Authored by a team led by Michael Patra, who recently stepped down as RBI Deputy Governor, the article highlights that domestic demand is strengthening across the board. “Rural demand, in particular, is gaining momentum, underpinned by resilient consumption and brighter prospects for agriculture,” it noted.
Banking Reforms: What Happened to the Privatisation of State-Run Banks?
The government currently holds a majority stake in 12 public sector banks, with ownership exceeding 90% in four of them:
RBI imposes monetary penalty on Parbhani District Central Co-operative Bank Ltd., Parbhani, Maharashtra
The statutory inspection of the bank was conducted by the National Bank for Agriculture and Rural Development (NABARD) with reference to its financial position as on March 31, 2023
Banks Set for Subdued Q3 Earnings Amid Mounting Challenges
For private sector banks (PVBs), profitability is anticipated to remain subdued. Emkay Global attributes this to a noticeable deceleration in credit growth, which directly impacts interest income. Adding to the strain are shrinking net interest margins (NIMs), driven by rising funding costs, and escalating operational expenses. Furthermore, increased provisioning for loan losses is expected to take a toll on the bottom line, leaving private banks grappling with profitability pressures.
RBI steps in: Daily VRR auctions starting January 16 to ease liquidity crunch
With the liquidity deficit, which has come about due to RBI’s intervention (aimed at ensuring gradual depreciation of the Rupee against the Dollar) in the forex market, estimated at about ₹2 lakh crore as on January 14, market players say the move couldn’t have come at a better time.
Tata Capital Limited Raises USD 400 Million through Maiden Issuance From International Bond Markets
The Company engaged with global investors in Hong Kong, Singapore and London. On the back of strong investor interest, the transaction was launched with an initial price guidance of UST + 125 bps. Following a strong book building, supported by high quality investors, the Company was able to tighten pricing by 33bps to UST + 92 bps.
RBI reallocates portfolios of deputy governors post Michael Patra’s exit
The monetary policy department, which was handled by Patra, has been allocated to M Rajeshwar Rao. Rao will also handle portfolios such Co-ordination, Department of Communication, Department of Economic and Policy Research, Department of Regulation, Department of Statistics and Information Management and Enforcement Department among others.
India’s biggest banks see market cap fall in Q4 2024: S& Global analysis
HDFC Bank Ltd., the country’s largest private-sector bank by assets, stayed at the top of the ranking with a market cap of 13.6 trillion rupees, up 2.6% from the previous quarter. Two other private-sector banks, The Federal Bank Ltd. and ICICI Bank Ltd., also logged an increase in market cap for the quarter, with Federal Bank gaining 1.7% to 490.7 billion rupees and ICICI Bank 0.9% to 9.05 trillion rupees.
Inflation falls in December. Rate cut hopes brighten in February
Prices of cereals rose by 6.5% from a 6.88% increase in November, while those of pulses rose 3.83% compared to a 5.41% growth in the same period.