Page 18 - Anup Roy

SC questioning RBI on moratorium unfortunate: HDFC chairman Deepak Parekh

In his frank address, Parekh was critical of the Supreme Court for questioning the Reserve Bank of India's (RBI) move to allow banks and housing finance companies (HFC) to charge interest

From ATM withdrawals to a/c balances, banks are back to charging customers

Banks, or the government, did not notify an extension of the ATM related rules, which meant that banks can now charge their customers like before

SBI Cap to float special purpose vehicle for NBFC debt purchase, says RBI

The government, on May 21, had said it will support creating a SPV that will buy such papers from NBFCs

A perilous journey ahead for NBFCs: Cheaper funds, slipping credit profile

Recent measures by govt and RBI will help those issuing bonds. But the need is to cover term loans also, says chief of NBFC lobby group

States continue to tap cheap rates to borrow more than originally planned

Seven state governments had lined up to borrow Rs 9,000 crore, but ended up borrowing Rs 12,000 crore from the markets because of the cheap rates.

India records current account surplus of 0.1% of GDP, at $600 mn in Q4

As against this, there was a deficit of $4.6 bn, or 0.7% of GDP in the year ago quarter and $2.6 billion (0.4% of GDP) in Q3 of 2019-20

Mumbai home prices defy all-India fall, post highest sequential rise in Q4

However, city had witnessed a drop in the third quarter over second quarter of the previous fiscal

RBI to do buy-sell OMO of Rs 10,000 cr keeping in mind liquidity in banks

Such bond buy and sell operations soften long-term yields that help govt borrow cheap; they also give apex bank enough long-term bonds to support its liquidity operations

Govt savings bonds to offer higher rate of interest than small savings

The bond will be available at State Bank of India and other nationalised banks, as well as four private sector banks, the RBI said in a statement

RBI board meets digitally to take stock of Covid-19 impact on economy

While there was an expectation that the board would also discuss one-time restructuring scheme for stressed assets of banks, it was not there in the agenda for the board meet

Is Urjit Patel's return to policy space a sign of reconciliation with govt?

In many ways, this is Patel's home ground. Two of his papers, co-authored with Willem H Buiter, on fiscal policies and deficits were acclaimed by economists

Bond market warms up to NBFCs, but India's top-rated companies benefit

The liquidity situation for non-banking financial companies (NBFCs), which had been facing a crunch on this front for some time now, is improving.

Govt to provide one-time guarantee of Rs 10,000 cr for NBFC assets, bonds

This is an extension of its budget announcement, where it had said it would compensate them to the extent of 10% of the losses banks incur on their NBFC bond portfolio

Govt to use RBI money to support struggling NBFCs for just three months

NBFCs cry foul as they were expecting a two-three year support

Moratorium to strain NBFC liquidity even further, bad debts to rise

These firms operate with very little short-term liquidity, which can become even more strained as customers start defaulting even after the moratorium

Borrowing limit raised, but states won't rush to make use of the chance

Only eight states will qualify for the extra borrowing, as they have to meet stiff conditions on ease of doing business.

RBI converts less than a third of Rs 30K-crore bonds into long securities

Bond dealers said the market wanted the RBI to offer them higher coupon for the switch, as the source security is maturing just next month.

Yields jump 20 bps on borrowing target hike, banks stem free fall

The government had surprised everyone with a revised borrowing programme of Rs 12 trillion, against Rs 7.88 trillion originally planned

Bond yields expected to jump 15-20 bps on govt's extra borrowing

The excess borrowing will, however, ease the pressure on the RBI's liquidity operation as banks will absorb the excess G-Secs

Govt hikes borrowing limit by over 50% to Rs 12 trn as virus grips economy

Sources say the Centre has asked RBI to do whatever to keep yields in check, which may result in massive secondary market bond purchases