Economy & Policy

Govt source says expect at least 600 bln rupees as dividend from RBI

Monday, Aug 3, 2020 --Govt source: Expect at least 600 bln rupees as RBI dividend FY21--RBI board likely to meet Aug 14 to decide on dividend By Shubham Batra and Adrija ChatterjeeNEW DELHI — The government expects the Reserve Bank of India to transfer at least 600 bln rupees as surplus this month,...

Budget, banking depts spar over 1.25-trln-rupee recapitalisation plan

Monday, Aug 3, 2020 --Govt source: Banking dept seeks 1.25 trln rupees for bks' fund infusion--Budget dept has reservations on bks capital infusion plan --Banking dept sought PSU bank fund infusion via bonds--Cabinet to take final call on PSU bank fund infusion By Adrija Chatterjee and Shubham Batra NEW DELHI - The Budget and banking...

HDFC Parekh moots 1-year debt recast plan to help contain COVID pain

Monday, Aug 3, 2020 MUMBAI – Housing Development Finance Corp Ltd Chairman Deepak Parekh has sought a one-year restructuring of loans to help individual and corporate borrowers whose income has been impacted by the COVID-19 pandemic recover their ability to repay debt. "The industry has asked the central bank, and we keep hearing that government and Reserve Bank...

Weak growth in cos' demand drags bank credit growth down to 6.7% Jun

Friday, Jul 31, 2020 MUMBAI – Weak growth in demand for loans from companies at just 2.2% on year at the end of June dragged down overall non-food bank credit growth to just 6.7% from 11.1% a year ago, as per data by the Reserve Bank of India on sectoral deployment of bank...

RBI board member Marathe favours one-time restructuring of all loans

Wednesday, Jul 29, 2020 By T. Bijoy Idicheriah  MUMBAI – Reserve Bank of India central board member Satish Marathe has called for an across-the-board one-time restructuring of loans saying that the misuse of past recast schemes can't be a reason for not supporting companies that have been genuinely affected by COVID-19 pandemic. "I...

Govt in advanced talks to list gilts on JP Morgan index, says source

Monday, Jul 27, 2020 --Source: Aiming 5% weight on JP Morgan gilt index by March end--Govt source: Aim 10% weight on JP Morgan Index by March 2022--Aim to add 3-5 gilts/yr under fully accessible route By Shubham Batra NEW DELHI – The finance ministry is in advanced stage of discussions with JP Morgan to...

Source says govt mulls stake sale in select PSUs via OFS route

Monday, Jul 27, 2020 --Source: Govt mulls divestment in HAL, Bharat Dynamics via OFS FY21--Govt mulls divestment in IRCON, Rail Vikas Nigam via OFS--Govt mulls divestment in Garden Reach Shipbuilders via OFS--Govt mulls divestment in IRCTC via OFS in FY21 By Sagar Sen NEW DELHI – The government is mulling divestment in select public...

Don't extend moratorium, urges HDFC Parekh; RBI Das says "noted"

Monday, Jul 27, 2020 MUMBAI – Responding to industry veteran Deepak Parekh's view that Reserve Bank of India should not extend the loan moratorium further and instead consider a one-time debt restructuring, Governor Shaktikanta Das declined to comment today, although he said that the suggestions have been noted. Parekh, who is the chairman of...

'Overdraft' - Urjit Patel hits out at govt, PSU banks, media in book

Friday, Jul 24, 2020 NEW DELHI - Urjit Patel on paper is no different from Urjit Patel the man. In his book 'Overdraft: Saving the Indian Saver', the former Reserve Bank of India governor is his usual self, shunning any attention and focusing "on the issues, not the personalities" at the centre...

Urjit Patel sees little chance of meaningful PSU bank privatisation

Friday, Jul 24, 2020 NEW DELHI - Former Reserve Bank of India governor Urjit Patel does not expect any government to pursue "meaningful privatisation" of public sector banks. "Where is the fun in owning banks if control over operations, managing them and determining their regulation is not possible? The likelihood that meaningful...


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