Cash Reserve Ratio

State-owned Punjab & Sind Bank plans to raise Rs 3,000 crore from maiden infrastructure bonds this month as part of exercise to raise resources to expand loan book. "We have taken board approval for raising Rs 5,000 crore from infrastructure bonds in tranches. As against that, the bank proposes to raise Rs 3,000 crore in the first tranche," Punjab & Sind Bank Managing Director and CEO Swarup Kumar Saha said. Asked about the timing of fundraise, he said, it would be tentatively in the third week of this month. The base issue size is going to be Rs 500 crore, with a greenshoe option of Rs 2,500 crore. In accordance with RBI guidelines, these papers would have a tenure of 10 years. They have been rated as 'AA' by domestic rating agencies. The bank proposes to utilise the proceeds in the next two quarters. These bonds would be listed on the National Stock Exchange (NSE) for trading. The bank is aiming at the credit growth of 13-14 per cent during the current financial ...

Deposit rates may start easing

RBI Monetary Policy Meeting Dec 2024 Updates: Catch all the updates here

RBI governor Shaktikanta Das said that the CRR reduction will release Rs 1.16 trillion into the banking system, providing additional liquidity and enable banks to extend more loans

The Reserve Bank on Friday morning will announce the decision on interest rate after the conclusion of the three-day monetary policy panel meeting, amid high inflation and weak GDP growth numbers. Experts are of the view that the central bank is likely to opt for status quo on the short-term lending rate (repo), and will possibly tinker with cash reserve ratio (CRR) keeping in mind the mixed economic trends. "Coming up: Monetary Policy Statement by #RBI Governor @DasShaktikanta on December 06, 2024, at 10:00 am," the Reserve Bank announced on social media platform 'X'. Reserve Bank Governor Shaktikanta Das headed six-member Monetary Policy Committee (MPC) started its meeting to decide on the next set of bi-monthly monetary policy on Wednesday. Das is chairing the last MPC meeting of his current term which ends on December 10. The Reserve Bank has kept the repo or short-term lending rate unchanged at 6.5 per cent since February 2023. It last hiked the repo rate to 6.5 per cent in

The NSE Nifty 50 climbed 0.32 per cent to 24,534.65 points, as of 11:02 a.m. IST, while the BSE Sensex gained 0.37 per cent to 81,145.54

Indians are flocking to invest in stocks, putting pressure on banks which need to strike a balance between deposits and loans

Several other state-owned lenders such as Canara Bank and Bank of India are also planning to raise funds through infrastructure bonds

According to current norms, for Rs 10,000 crore of loans, banks have to ensure Rs 4,000 crore of priority sector lending target

The OMO sale is quite an innovative way to address the concerns around currency

RBI had decided on September 8 to discontinue the I-CRR by October 7, in a phased manner

"The estimates are that around Rs 90,000 crore to Rs 1 trillion will go out as goods and services tax (GST) outflow," a dealer at a primary dealership said

Only those with asset-liability management mismatch would consider upward rate revisions

One-year swap rate has jumped 13 bps so far in September, whereas the five-year swap rate has jumped 19 bps

The one-year swap rate hit 7.10 per cent on Monday, the highest level since March 9, while the five-year swap rate rose to 6.85 per cent, a level last seen on November 9, 2022

RBI had said the I-CRR decision will be reviewed on or before 8 September

The amounts impounded under the I-CRR will be released in stages so that system liquidity is not subjected to sudden shocks and money markets function in an orderly fashion

The I-CRR could be reduced to 5%-8% in a phased manner from the current 10%, treasury officials have said

"The I-CRR is acting as an indirect rate hike and, at best, the RBI could lower the limit taking into consideration tax outflows," a senior treasury official at a private bank said