Cash Crunch

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Businesses in Bangladesh hit by cash supply drought due to withdrawal cap

Businesses in Bangladesh are facing a liquidity crunch as the central bank has capped the withdrawal of cash from banks at Tk 2 lakh amidst uncertainty in the country following the fall of the Sheikh Hasin-led government, a media report said on Monday. The Bangladesh Bank set a cash withdrawal limit of Tk 2 lakh (Rs 1.42 lakh approximately) per account on Saturday, increasing it from the Tk 1 lakh announced earlier. The central bank decided this due to security concerns as police are yet to return to work fully, following the clashes between police and students during the widespread protests against Hasina's Awami League-led government over a controversial quota system in jobs. Interim Finance and Planning Adviser Salehuddin Ahmed on Sunday also said that the limit on cash withdrawals was required given the current situation. Businesses, especially those mainly dealing with cash transactions, said they would be in a tough situation if the cash crisis lingers and restrictions remain

Focused on cutting costs, Byju's to skip campus placements this year

Even if Byju's were to visit their campuses, it is unlikely that students would be keen to sit for their placements, an official aware of the matter said

Unacademy's cash burn falls to Rs 1.9 crore, says CEO Gaurav Munjal

"Our FY'24 numbers are going to be awesome. This year is going to be the best year for Unacademy so far," the CEO added

Stubborn funding squeeze risks derailing India's economic recovery

After a surge in recent weeks, the weighted average call rate which Reserve Bank of India closely monitors, has shot above its policy rate ceiling of 6.75%

Cash crunch pushing up funding costs in India deterring more RBI hikes

The weighted average call rate, an overnight funding cost rate the central bank monitors, was at 6.78% on Wednesday, above the upper band of the Reserve Bank of India's interest rate corridor, of 6.75

Evergrande misses payment deadline, EV unit warns of cash crunch

China Evergrande's electric car unit warned on Friday it faced an uncertain future unless it got a swift injection of cash

Amid cash crunch, new-age lenders reach out to help early-stage start-ups

Lenders are looking at 'innovative' lending terms such as cash conversion cycle and revenue-linked repayment models to reduce their risks

Bigger rise in cash in circulation in Jan-Apr than entire 2019: RBI

The rise in currency in circulatiom is perplexing when economic activity has nosedived. Generally, CIC should rise in tandem with growth in economic activities, as people need cash to transact

European banks struggle to survive coronavirus as cash crunch looms

Lenders' funding costs have been slashed, capital requirements have been relaxed and over 1 trillion euros has been pledged in loan guarantees and payment supports

Saudi central bank closely monitoring Aramco IPO, ready for a cash crunch

Saudi banks extended huge loans for clients wanting to maximize their participation in the IPO, with some expanding lending to four times the official limit, sources have previously told Reuters.

Rs 25,000-cr fund to ease realty sector's liquidity situation: JLL India

Real estate developers are currently facing a huge cash crunch, but the situation is likely to improve with the government announcing a Rs 25,000-crore fund to complete stalled housing projects, JLL India CEO and Country Head Ramesh Nair said on Wednesday. The government should ensure that this fund is disbursed to the identified stalled housing projects quickly and in a transparent manner, he added. "There is absolutely no liquidity in the real estate market. Developers are not getting funds from the non-banking financial companies (NBFCs)," Nair said, while speaking on the sidelines of a hackathon event to select three proptech (property tech) startups. He said the NBFCs, which have been the major source of funding for real estate developers from last many years are facing liquidity crunch post IL&FS default. However, Nair said the situation is likely to improve with setting up of this alternate investment fund (AIF) with a corpus of Rs 25,000 crore. "This Rs 25,000 crore fund .

India's cash crunch is weighing on financial health of companies

The Reserve Bank of India on Thursday cut interest rates for a second time this year, citing economic headwinds

Cost-cutting measures: Banks close 2,000 ATMs in 10 months

Cost-cutting measures by banks, which has led to rationalisation of branches has been one of the key reasons for reduction in the number of ATMs

Cash crunch: I-T dept seizes Rs 145 mn during raids at multiple locations

The cash was found to be in the denominations of Rs 2,000 and Rs 500

Cash crunch: One in five ATMs calibrated for dispensing Rs 200 notes

Slow progress in recalibrating of ATMs to receive Rs 200 notes was one of the factors responsible for the recent cash crunch

Shortage at source responsible for cash crunch: Cong's Praveen Chakravarty

The government has no business in dictating the RBI on currency management, the former investment banker said

Demonetisation's enduring damage

Demonetisation is still hurting India's monetary stability, and govt/RBI have been unusually poor stewards of the macro-economy

Statsguru: Currency in circulation surpasses pre-demonetisation level

Currency in circulation stood at Rs 18.425 trillion on April 6, 2018, higher than the pre-demonetisation level

From 2016 to 2018, life of a Rs 2,000 note; all you need to know

The supply of Rs 2,000 notes has also been reduced substantially since April 2017