Wednesday, Jun 21, 2023
Journalism of Courage
Govt appoints SBI MD Janakiraman as RBI DG
June 21, 2023 04:35 IST
Jain was appointed as the RBI Deputy Governor in June 2018 for three years. In June 2021, he was re-appointed as DG for a period of two years.
RBI defends compromise settlement, says lenders to exercise ‘discretion’Premium Story
June 21, 2023 09:22 IST
According to the RBI, the primary regulatory objective of the circular -- issued on June 8, 2023 -- is to enable multiple avenues to lenders to recover the money in default without much delay.
Govt appoints SBI MD Swaminathan Janakiraman as RBI deputy governor
June 20, 2023 16:37 IST
The government on Tuesday appointed Swaminathan Janakiraman as a deputy governor of the Reserve Bank of India for three years from the date of joining.
Surplus liquidity in banking drops 43% due to advance tax payments
June 20, 2023 07:38 IST
Experts believe that the surplus liquidity situation is likely to be volatile till the end of the month on account of goods and services tax (GST) payments.
Banks may have to settle with some of the 16,044 wilful default accounts with Rs 346,479 crore debt till end-2022
June 18, 2023 08:37 IST
The amount stuck in the wilful default category has jumped by 41 per cent, or over Rs one lakh crore in the last two years from Rs 245,767 crore in December 2020, according to data compiled by Transunion Cibil, a credit information company registered with the RBI.
Just started working? Here is why you start building your credit history
June 16, 2023 17:23 IST
A strong credit history can ease your access to credit, which, in turn, can help you realise your life goals.
Fed leaves rates unchanged, sees two small hikes by end of 2023
June 15, 2023 08:49 IST
The Federal Reserve left interest rates unchanged on Wednesday but signaled in new projections that borrowing costs may still need to rise by as much as half of a percentage point by the end of this year.
Finance head of Credit Suisse’s domestic business to depart bank
June 14, 2023 11:29 IST
Antoine Boublil joined Credit Suisse in 2016 and in addition to his role as Chief Financial Officer of the Swiss bank division.
Disinflation process to be slow, protracted: RBI Guv Shaktikanta Das
June 14, 2023 05:14 IST
Talking about the growth, the Governor said the country’s economy displayed exemplary resilience post-pandemic and rebounded strongly from a contraction of 5.8 per cent in FY2021 to a growth of 9.1 per cent in FY2022 and 7.2 per cent in FY2023.
Bank deposits of 1-3 years a hit due to interest rate hikes
June 13, 2023 04:30 IST
Within the household sector, individuals accounted for 52.8 per cent share in total deposits. More than a half of households’ deposits during 2022-23 came from five states, namely, Maharashtra, Uttar Pradesh, NCT of Delhi, Karnataka and West Bengal.
UBS completes emergency takeover of Credit Suisse, gains clout as global wealth player
June 12, 2023 11:42 IST
UBS on Monday said it completed its emergency takeover of embattled local rival Credit Suisse.
Finance ministry officials to meet Moody’s on June 16: report
June 12, 2023 10:02 IST
The meeting will see participation from all government departments managing the economy.
SBI to raise upto Rs 50,000 cr through debt instruments in FY24
June 9, 2023 16:05 IST
The State Bank of India on Friday said it will raise up to Rs 50,000 crore by issuance of debt instruments to Indian and overseas investors in the current financial year.
UBS agrees with Swiss government on Credit Suisse loss guarantee
June 9, 2023 14:30 IST
UBS has signed an agreement with the Swiss government to cover up to 9 billion Swiss francs ($10.00 billion) in losses from its emergency takeover of Credit Suisse, the country's largest bank and government said.
50% of Rs 2,000 notes in circulation back in system: RBI Governor
June 8, 2023 23:06 IST
When asked about separate details of the Rs 2,000 notes that have been exchanged or deposited in banks, the Governor said the figure needs a lot of reconciliation as there is some overlap in reporting.
Reserve Bank to permit default loss guarantee arrangements in digital lending
June 8, 2023 12:14 IST
First loss default guarantee (FLDG) is a lending model between fintech firms and their partner banks and non-banking finance companies where the initial hit on a default is taken by the fintech firm that originated the loan.
Monetary policy meeting: RBI hits pause second time in a row, repo rate remains 6.5%
June 9, 2023 08:49 IST
The decision to keep the repo rate — it is the interest rate at which the RBI lends to banks in the country — unchanged was taken unanimously by the six Monetary Policy Committee (MPC) members as inflation continues to remain above the 4 per cent target.
Surplus liquidity of banks may dip on tax outflows, higher currency demand
June 8, 2023 00:04 IST
The net liquidity in the banking system, as represented by the amount of money absorbed by the Reserve Bank of India (RBI) from the system, jumped to Rs 2.59 lakh crore on June 4 from Rs 47,484 crore on May 22.
About 80% of Indians choose to deposit withdrawn 2000-rupee notes, boost bank deposits, say bankers
June 7, 2023 12:02 IST
Exchange is only permitted up to Rs 20,000 per turn, while there is no limit on depositing the notes, which also earns interest. When announced, the value of these notes in circulation was Rs 3.6 trillion ($43.61 billion), the RBI said.
JPMorgan’s Jamie Dimon to meet with group of US House Democrats: report
June 6, 2023 10:50 IST
JPMorgan Chase & Co Chief Executive Officer Jamie Dimon will meet privately with a group of moderate House Democrats on Tuesday, with banking and the US economy on the agenda, a news report said.
Odisha train accident: Govt seeks data to shell out insurance claims
June 6, 2023 08:41 IST
The government is planning to shell out the insurance amount through three government schemes.
‘Extending deposit insurance cover to bank PPI needs examination’
June 6, 2023 08:45 IST
It said that the RBI should set up an RE-agnostic common portal for lodging complaints so that the customers of any RE can lodge complaints on a single platform.
US banks could face 20% hike to capital requirements, says report
June 5, 2023 13:58 IST
The report said that the precise amount of capital requirements will depend on the bank's business, with U.S. megabanks with big trading businesses expected to face the largest increases.
RBI deputy guv urges banks to address gaps in governance framework
June 5, 2023 12:24 IST
Boards should set clear expectations for management and should require reports on risk management on a regular basis, said M Rajeshwar Rao, at a conference of directors of state-run and private banks in May.
Credit Suisse’s takeover of to close as early as June 12, says UBS
June 5, 2023 10:56 IST
UBS said on Monday it will complete its takeover of Credit Suisse "as early as June 12", creating a giant Swiss bank with a balance sheet of $1.6 trillion following a government-backed rescue earlier this year.
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