Banking stocks have lagged the market in the rebound off coronavirus lows, hit on March 23, 2020
Lenders that do not have subsidiaries in insurance, asset management, and broking may be exempt from having a non-operative financial holding company (NOFHC).
Some market participants say there is still room for upside for long-duration products
The government had surprised everyone with a revised borrowing programme of Rs 12 trillion, against Rs 7.88 trillion originally planned
According to the Reserve Bank of India (RBI) data, state governments' gross market borrowings stood at Rs 6.08 trillion in 2019-20, up from Rs 4.78 trillion in 2018-19.
Sources say the Centre has asked RBI to do whatever to keep yields in check, which may result in massive secondary market bond purchases
Data shows Rs 4,000 crore of borrowing facility already used
Here are the top ten business headlines on Friday morning
Bank sets aside Rs 334 cr for expected penalty for SLR breach
During March-April 2020, PSBs sanctioned loans worth Rs 5.66 lakh cr for more than 41.81 lakh accounts
A dozen ventures remain mostly shuttered
In addition, West Bengal will also request the Reserve Bank of India (RBI) to increase the additional credit limit to MSMEs, to 30 per cent from the existing 10 per cent.
Senior SBI executives said most of those seeking deferment are retail and micro and small enterprises and are hard-pressed for resources when earning and cash flows have almost dried up.
Suggestions from various quarters, including from Indian Banks' Association, have come for the further extension of moratorium and the RBI is actively considering them, according to sources.
Sentiment remained weak across the board post the Reserve Bank of India's (RBI) directive to close Mumbai-based CKP Cooperative Bank
The RBI cancelled the licence of CKP Co-op Bank on April 28, and notified the cancelletaion on its website on Saturday. There it also said that deposits up to Rs 5 lakh are guaranteed by the DICGC
Relaxation likely on branch audit as Guv meets bankers
Depositors to get up to Rs 5 lakh under deposit insurance on liquidation
For the sake of context, the financial crisis of 2008 had seen the S&P 500 fall by more than 50 per cent from its peak
The meetings were also attended by deputy governors and other senior officers of the central bank, RBI said in a statement on its website