Coronavirus Outbreak: RBI governor Shaktikanta Das meets NBFCs, MFs sector; reviews liquidity situation
4 years, 8 months ago

Coronavirus Outbreak: RBI governor Shaktikanta Das meets NBFCs, MFs sector; reviews liquidity situation

Firstpost  

Operations of NBFCs have commenced from Monday as the government eased restrictions for the lockdown. Mumbai: Reserve Bank governor Shaktikanta Das on Monday reviewed liquidity position and ways to promote lending to the MSME sector during a meeting with representatives of non-banking financial companies and mutual funds amid the lockdown induced by the COVID-19 pandemic. Some of the issues discussed during the meeting included availability of liquidity from banks and other financial institutions and post-lockdown strategies for supply of credit, including working capital, to MSMEs, traders and bottom of pyramid customers in semi-urban, rural and urban areas, the RBI said. Days after Franklin Templeton Asset Management Company announced closure of six of its debt fund schemes, the Reserve Bank of India had announced a special liquidity facility of Rs 50,000 crore for the mutual fund industry to avert spread of contagion. The governor acknowledged the critical role of NBFCs, including micro finance institutions, in delivering last mile credit, and the importance of mutual funds in financial intermediation, RBI said in the statement.

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History of this topic

RBI deputy governor urges banks to be prudent on lending to NBFCs
1 year ago

RBI deputy governor urges banks to be prudent on lending to NBFCs

Live Mint  

Mumbai: Banks need to reconsider whether they want to be part of lending consortiums to non-bank financiers that have scores of other lenders – up to 40 at times – to improve their monitoring of borrowers' use of sanctioned loans, RBI deputy governor Swaminathan J said. The deputy RBI governor was responding to a question from SBI managing director Ashwini …

MSME margins badly hit by commodity price surge: PHDCCI
3 years, 2 months ago

MSME margins badly hit by commodity price surge: PHDCCI

The Hindu  

Industry chamber PHD Chamber of Commerce and Industry on Wednesday said skyrocketing commodity prices are severely impacting the price cost margins of businesses, especially MSMEs, observing that the RBI has a crucial role to play in balancing inflation and maintaining currency stability. The assertion is a part of the chamber's five suggestions outlining the focus areas for RBI Governor Shaktikanta …

RBI Governor Shaktikanta Das pitches for higher investment in infrastructure, health post pandemic
3 years, 3 months ago

RBI Governor Shaktikanta Das pitches for higher investment in infrastructure, health post pandemic

India TV News  

Reserve Bank Governor Shaktikanta Das on Wednesday pitched for higher investment in infrastructure and reforms in labour and product markets to achieve sustainable growth post-pandemic. Addressing AIMA National Management Convention, Das underlined the need for increased investment in healthcare education, digital and physical infrastructure to ensure sustainable growth and generate employment opportunities. Noting that the pandemic has affected the poor …

Kerala CM seeks banks’ cooperation to tackle Covid financial crisis
3 years, 5 months ago

Kerala CM seeks banks’ cooperation to tackle Covid financial crisis

Live Mint  

As the COVID-19 pandemic has gravely wounded Kerala's economy, Chief Minister Pinarayi Vijayan on Thursday sought increased cooperation of banks to deal with the crisis. Also referring to the state government's memorandum to the Centre seeking to put in place a moratorium on repayment of loans till December 31, 2021 in order to provide relief to people hit by COVID-19 …

Economic Activity Recovering Since Late-May, Rising Cyber Attacks a Risk: RBI Guv
3 years, 6 months ago

Economic Activity Recovering Since Late-May, Rising Cyber Attacks a Risk: RBI Guv

News 18  

The second wave of the pandemic took a “grievous toll” on India, but the dented economic activity has started recovering from late-May, Reserve Bank Governor Shaktikanta Das said on Thursday. In a first, Das flagged the rising data breaches and cyber attacks as a risk facing the economy, along with others like firming global commodity prices. “The recovery that had …

SIDBI Unveils New Term Loan Scheme for MSMEs Hit by Covid-19. Details Here
3 years, 6 months ago

SIDBI Unveils New Term Loan Scheme for MSMEs Hit by Covid-19. Details Here

News 18  

In a bid to provide liquidity boost to COVID-19-hit small and medium scale industries, India’s principal financial institution for MSMEs – Small Industries Development Bank of India has unveiled a revamped version of its liquidity scheme. For its existing customers, SIDBI has brought in LIQUID 2.0 under which it will be providing term loan for the purpose of executing new …

Diminishing options: The Hindu Editorial on RBI’s June 2021 policy statement
3 years, 7 months ago

Diminishing options: The Hindu Editorial on RBI’s June 2021 policy statement

The Hindu  

The RBI’s latest policy statement underscores the diminishing options available to it to address the economic fallout from the COVID-19 pandemic. The bank’s Monetary Policy Committee left benchmark interest rates unchanged for a sixth straight meeting and reiterated that it would keep its policy stance accommodative ‘as long as necessary to revive and sustain growth on a durable basis’. Since …

RBI may have to delay liquidity normalisation amid rising virus cases
3 years, 9 months ago

RBI may have to delay liquidity normalisation amid rising virus cases

Live Mint  

India's central bank may have to delay the start of monetary policy normalisation by three months amid rising COVID-19 cases, but barring the return of stringent lockdowns there is no significant threat to the economy's recovery, analysts say. India needs to take quick and decisive steps soon to stop an emerging second "peak" of COVID-19 infections, Prime Minister Narendra Modi …

Policy roll-back may dent banks’ health, says RBI
4 years ago

Policy roll-back may dent banks’ health, says RBI

The Hindu  

In 2020-21, as policy support is rolled back, the impact of the COVID-19 pandemic may dent the health of the banks and non-banks, the Reserve Bank of India said in its Report on Trend and Progress of Banking in India 2019-20. This is a statutory publication in compliance with Section 36 of the Banking Regulation Act, 1949 and this Report …

RBI Governor Shaktikanta Das Discusses Credit Flow, Rate Cut Transmission With Bank MDs
4 years ago

RBI Governor Shaktikanta Das Discusses Credit Flow, Rate Cut Transmission With Bank MDs

News 18  

Reserve Bank Governor Shaktikanta Das continued discussions with MDs and CEOs of both public and private sector banks on Wednesday. The discussions, which began Tuesday, included the assessment of the current economic situation and outlook, monetary policy transmission, credit flows to different sectors of the economy including stressed sectors and MSMEs, among other matters. An RBI statement said that in …

Will take necessary measures to promote growth: RBI Governor
4 years, 3 months ago

Will take necessary measures to promote growth: RBI Governor

India TV News  

RBI Governor Shaktikanta Das on Wednesday assured the industry that the central bank will take all necessary measures to ensure liquidity in the system and promote economic growth. Addressing a virtual conference organised by industry body Ficci, Das said that Gross Domestic Product data released by the government was a "reflection of the ravages of the COVID-19". Observing that the …

PMC Bank: RBI cites liquidity issues for not raising withdrawal limit beyond ₹1 lakh
4 years, 4 months ago

PMC Bank: RBI cites liquidity issues for not raising withdrawal limit beyond ₹1 lakh

Live Mint  

New Delhi: The Reserve Bank of India on Friday told the Delhi High Court that presently it would not be possible to raise the withdrawal limit of ₹one lakh imposed on scam-hit Punjab and Maharashtra Cooperative Bank Ltd due to its lack of liquidity. RBI has told the high court that against a total deposit liability of approximately ₹10,000 crore …

Rs 10,000 crore Fund of Funds for MSMEs to be operational soon: SBI Chairman
4 years, 5 months ago

Rs 10,000 crore Fund of Funds for MSMEs to be operational soon: SBI Chairman

India TV News  

To provide Rs 50,000 crore equity support to stressed MSME units, a Fund of Funds announced as part of the Rs 20.97 lakh crore Aatmanirbhar Bharat Abhiyan package is expected to get operation soon, State Bank of India Chairman Rajnish Kumar said on Monday. The objective of the Rs 10,000 crore Fund of Funds scheme is to help MSMEs with …

India needs ₹ 50-60 lakh crore foreign investments to bolster coronavirus-hit economy: Gadkari
4 years, 6 months ago

India needs ₹ 50-60 lakh crore foreign investments to bolster coronavirus-hit economy: Gadkari

The Hindu  

India needs foreign direct investments worth ₹ 50 to 60 lakh crore and the money can be tapped mainly through infrastructure projects as well as MSME sector to accelerate the wheels of coronavirus-hit economy, according to Union minister Nitin Gadkari. ₹ 50-60 lakh crore foreign investment is needed in the country under present circumstances to boost the economy,” the Road …

NBFCs will continue to face liquidity, asset quality risks: Fitch
4 years, 6 months ago

NBFCs will continue to face liquidity, asset quality risks: Fitch

Live Mint  

MUMBAI: India's non-bank financial companies will continue to face elevated liquidity and asset quality risks, even as economic activity picks up with the easing of the nationwide lockdown, according to global rating agency Fitch Ratings. Non-banks, facing a liquidity shortage ever since Infrastructure Leasing and Financial Services Ltd defaulted on its payment obligations, have been under renewed strain as banks …

RBI Governor Shaktikanta Das briefs central board about impact of monetary steps
4 years, 6 months ago

RBI Governor Shaktikanta Das briefs central board about impact of monetary steps

India TV News  

Reserve Bank of India Governor Shaktikanta Das on Friday briefed the board members about the impact of the various monetary and regulatory measures taken by the central bank to deal with the COVID-19 crisis. Besides other things, the RBI's central board discussed the current macroeconomic situation and evolving challenges being posed by the coronavirus pandemic, the RBI said in a …

The problem with the liquidity push
4 years, 7 months ago

The problem with the liquidity push

The Hindu  

The present government’s much-hyped, post-COVID-19 relief and recovery package has disappointed many. In its effort to tote up a 10% of GDP relief-cum-stimulus figure, the government has relied heavily on measures aimed at pushing credit to banks, non-banking financial companies and businesses big and small, which are expected to use borrowed funds to lend to others, make payments falling due, …

It’s only a pause, more steps to come to deal with covid-19 crisis: Anurag Thakur
4 years, 7 months ago

It’s only a pause, more steps to come to deal with covid-19 crisis: Anurag Thakur

Live Mint  

The government has only taken a pause and more measures will be announced in the days to come to help sectors hit by the coronavirus outbreak and also to make India ‘Atmanirbhar Bharat’, Minister of State for Finance Anurag Thakur said. Only this Sunday, he said, the government on the direction of Prime Minister Narendra Modi announced a comprehensive economic …

Economic package: Successful implementation of support measures for NBFI will be key, says Fitch Ratings
4 years, 7 months ago

Economic package: Successful implementation of support measures for NBFI will be key, says Fitch Ratings

Firstpost  

Fitch Ratings on Wednesday said support measures announced by the government for non-banking finance companies seek to ease borrower strain and boost funding conditions for NBFIs, but successful implementation will be the key New Delhi: Fitch Ratings on Wednesday said support measures announced by the government for non-banking finance companies seek to ease borrower strain and boost funding conditions for …

Coronavirus impact: NBFCs urge RBI to allow draw-down from reserves for provisioning
4 years, 7 months ago

Coronavirus impact: NBFCs urge RBI to allow draw-down from reserves for provisioning

Firstpost  

Non-banking financial companies on Friday requested the Reserve Bank of India to allow them to draw-down from their reserves for making additional provision for expected losses due to COVID-19 pandemic Mumbai: Non-banking financial companies on Friday requested the Reserve Bank of India to allow them to draw-down from their reserves for making additional provision for expected losses due to COVID-19 …

Bankers welcome economic package announced by govt, say will encourage lending to MSMEs
4 years, 7 months ago

Bankers welcome economic package announced by govt, say will encourage lending to MSMEs

Firstpost  

The various initiatives announced by the government on Wednesday to support micro, small and medium enterprises will encourage banks to lend more to the sector, bankers said Mumbai: The various initiatives announced by the government on Wednesday to support micro, small and medium enterprises will encourage banks to lend more to the sector, bankers said. “The measures for MSME through …

Liquidity lifeline: The Hindu Editorial on Nirmala Sitharaman’s MSME package
4 years, 7 months ago

Liquidity lifeline: The Hindu Editorial on Nirmala Sitharaman’s MSME package

The Hindu  

From an overall perspective, the first tranche of announcements made by Finance Minister Nirmala Sitharaman under the Atmanirbhar Bharat Abhiyan on Wednesday is impressive indeed. The ₹20,000 crore partially guaranteed subordinated debt programme and the ₹50,000 crore fund of funds scheme will help boost the equity portion on MSME finances but again, the finer details need to be clear. NBFCs, …

FM Nirmala Sitharaman announces collateral free automatic loans for MSMEs
4 years, 7 months ago

FM Nirmala Sitharaman announces collateral free automatic loans for MSMEs

India TV News  

As the country battles coronavirus pandemic, Finance Minister Nirmala Sitharaman has announced Rs 3 lakh crores collateral-free automatic loans for Micro Small Medium Enterprises sector. Her press conference came a day after PM Narendra Modi announced stimulus package of Rs 20 lakh crore to rejuvenate Indian economy battered badly due to coronavirus pandemic. Check out details of the announcement made …

Coronavirus Outbreak Updates: 20-day-old infant among six deaths reported in Rajasthan today; COVID-19 cases rise to 2,772 with 106 new infections
4 years, 8 months ago

Coronavirus Outbreak Updates: 20-day-old infant among six deaths reported in Rajasthan today; COVID-19 cases rise to 2,772 with 106 new infections

Firstpost  

11:58 PM Whatsapp Facebook Twitter Coronavirus in India Latest Updates Centre focused on ensuring welfare of workers, says prime minister Prime Minister Narendra Modi on Saturday chaired a meeting to discuss strategies as well structural reforms in the financial sector in the wake of the COVID-19 outbreak. At the meeting attended by the Finance Minister, HOme Minister and senior officials, …

RBI's liquidity support for MFs may struggle to be effective; Fitch says success will depend on banks' appetite to take up risks
4 years, 8 months ago

RBI's liquidity support for MFs may struggle to be effective; Fitch says success will depend on banks' appetite to take up risks

Firstpost  

The Reserve Bank of India’s liquidity support for mutual funds may struggle to be effective, as its success will hang on banks’ appetite to take up the risks involved, amid low capital headroom and a likely increase in fresh non-performing loans, according to Fitch New Delhi: The Reserve Bank of India’s liquidity support measures for mutual funds may struggle to …

RBI's liquidity support for MFs may struggle to be effective: Fitch
4 years, 8 months ago

RBI's liquidity support for MFs may struggle to be effective: Fitch

India TV News  

The Reserve Bank of India''s liquidity support for mutual funds may struggle to be effective, as its success will hang on banks'' appetite to take up the risks involved, amid low capital headroom and a likely increase in fresh non-performing loans, according to Fitch. The RBI''s Rs 50,000 crore Special Liquidity Facility for Mutual Funds will provide 90-day repo funding …

RBI opens ₹50,000 liquidity tap for Mutual Funds
4 years, 8 months ago

RBI opens ₹50,000 liquidity tap for Mutual Funds

The Hindu  

The Reserve Bank of India has announced a special window of ₹50,000 crore for mutual funds in view of the redemption pressure that the fund houses are facing. While announcing the window, the RBI said the liquidity stress is limited to high risk debt funds and the larger industry remains liquid. Funds availed under this facility will be used by …

RBI MF liquidity window to improve investor confidence, calm down corporate debt market: Experts
4 years, 8 months ago

RBI MF liquidity window to improve investor confidence, calm down corporate debt market: Experts

Firstpost  

Experts on Monday termed the RBI’s move to open a special liquidity facility of Rs 50,000 crore for the mutual fund sector as “brilliant”, saying it will improve investor confidence and reduce stress in the corporate debt market New Delhi: Experts on Monday termed the RBI’s move to open a special liquidity facility of Rs 50,000 crore for the mutual …

Coronavirus Outbreak: SIDBI to provide 90-day term loans to banks, NBFCs, MFIs for onward lending to MSMEs
4 years, 8 months ago

Coronavirus Outbreak: SIDBI to provide 90-day term loans to banks, NBFCs, MFIs for onward lending to MSMEs

Firstpost  

SIDBI will offer liquidity to banks, NBFCs and MFIs as term loans for a tenor of 90 days and for a maximum period of one year, Mumbai: Small Industries Development Bank of India on Thursday said it will provide special liquidity to banks, non-banking financial companies and microfinance institutions for on-lending to micro, small and medium enterprises that are affected …

RBI measures for NBFCs may not boost credit flow to the broader economy: Moody's
4 years, 8 months ago

RBI measures for NBFCs may not boost credit flow to the broader economy: Moody's

India TV News  

The Reserve Bank of India's measures to help facilitate funds to the NBFC sector is unlikely to boost the credit flow to the broader economy as NBFCs would shore up their own liquidity rather than on-lending to customers, Moody's Investors Service said on Sunday. Moody's Investors Service Vice-President Alka Anbarasu said the measures will soften the near-term credit negative impact …

Coronavirus | Salaried borrowers continue EMIs, ignore moratorium offer
4 years, 8 months ago

Coronavirus | Salaried borrowers continue EMIs, ignore moratorium offer

The Hindu  

The option of a moratorium on loan repayments that was announced by the Reserve Bank of India last month has mostly been availed by micro, small and medium enterprises while salaried class borrowers have, till now, largely refrained from availing the facility, bankers said. “About 85-90% of businesses in the MSME sector have availed the loan moratorium,” the chief executive …

RBI ensures liquidity support to NBFCs
4 years, 8 months ago

RBI ensures liquidity support to NBFCs

The Hindu  

The Reserve Bank of India has announced a host of measures to provide liquidity support to the non-banking finance companies, apart from giving them certain benefits for loans extended to the commercial real estate sector. To begin with, the banking regulator said banks to have to invest the funds availed under targeted long term repo operations, in investment grade bonds, …

RBI Governor Press Conference: Shaktikanta Das announces relief measures for liquidity in system, to ease financial stress
4 years, 8 months ago

RBI Governor Press Conference: Shaktikanta Das announces relief measures for liquidity in system, to ease financial stress

Firstpost  

Stating that the RBI is monitoring the situation developing out of Covid-19 outbreak, he noted that the contraction in exports in March at 34.6 percent was much more severe than global financial crisis of 2008-09. The Reserve Bank of India governor Shaktikanta Das announced relief measures to maintain adequate liquidity in system, facilitate bank credit flow and ease financial stress. …

RBI cuts reverse repo rate, announces steps to boost liquidity | Highlights
4 years, 8 months ago

RBI cuts reverse repo rate, announces steps to boost liquidity | Highlights

India TV News  

Reserve Bank of India Governor Shaktikanta Das addressed the media at 10 am today, as the country undergoes an extended nationwide lockdown to put a curb on the spread of deadly coronavirus. New measures shall be announced as and when the need arises: Governor Shaktikanta Das The LCR requirement of scheduled commercial banks being brought down from 100 per cent …

Moratorium on repayment puts NBFCs in a spot
4 years, 8 months ago

Moratorium on repayment puts NBFCs in a spot

The Hindu  

Non-banking financial companies may face a tough time following the Reserve Bank of India’s recent directive on providing a moratorium on repayment. “With collections being minimal and the moratorium only for their borrowers, raising fresh funds is critical, especially because NBFCs, unlike banks, do not have access to systemic sources of liquidity and depend significantly on wholesale funding,” it said. …

COVID-19 impact: Moody’s changes outlook on Indian banks to negative
4 years, 9 months ago

COVID-19 impact: Moody’s changes outlook on Indian banks to negative

The Hindu  

Moody’s Investors Service on Thursday changed the outlook for Indian banking system to negative from stable, as it expects deterioration in banks’ asset quality due to disruption in economic activity from the Coronavirus outbreak. Disruptions to economic activity from the coronavirus outbreak will exacerbate a slowdown in India’s economic growth,” Moody’s said. “Growing solvency stress among non-bank financial institutions will …

RBI announces repo rate cut, liquidity easing measures; economy requires stimuli, say analysts welcoming move
4 years, 9 months ago

RBI announces repo rate cut, liquidity easing measures; economy requires stimuli, say analysts welcoming move

Firstpost  

Reserve Bank of India Governor Shaktikanta Das’s announcement of rate cuts, forbearance on loans and liquidity easing measures were welcomed by analysts who said the economy requires stimuli in the present circumstances Reserve Bank of India Governor Shaktikanta Das’s announcement of rate cuts, forbearance on loans and liquidity easing measures were welcomed by analysts who said the economy requires stimuli …

Opinion | What the RBI’s statement did not say
4 years, 9 months ago

Opinion | What the RBI’s statement did not say

Live Mint  

As the world remains engulfed in an unprecedented crisis, Reserve Bank of India today strode to the front, to stand shoulder-to-shoulder with its global peers, decisively moving towards emergency settings which policy makers all over the world have switched to in the last six weeks. Clearly RBI is in its “battle-ready mode”, as the Governor termed the current situation, and …

Coronavirus lockdown: RBI cuts repo rate, announces 3-month moratorium on loans, read details
4 years, 9 months ago

Coronavirus lockdown: RBI cuts repo rate, announces 3-month moratorium on loans, read details

Op India  

Speaking to the media on the unprecedented situation across the country due to the Chinese epidemic, RBI Governor Shaktikanta Das on Friday announced a massive 75 basis points cut in repo rates to 4.4 per cent as a measure to counter the economic slowdown caused by the COVID-19 pandemic. Addressing the effect of the coronavirus on markets, the RBI Governor …

EMIs put on hold, interest rate cut: RBI injects virus-fighting stimulus to tackle Covid-19 crisis
4 years, 9 months ago

EMIs put on hold, interest rate cut: RBI injects virus-fighting stimulus to tackle Covid-19 crisis

India Today  

The Reserve Bank of India on Friday introduced a barrage of relief measures to alleviate financial difficulties arising due to Covid-19 restrictions. RBI Governor Das said, "All commercial banks, co-operative banks, all-India Financial Institutions, and NBFCs are being permitted to allow a moratorium of three months on payment of instalments in respect of all term loans outstanding as on March …

Ready for COVID-19 impact: RBI Governor
4 years, 9 months ago

Ready for COVID-19 impact: RBI Governor

The Hindu  

Amid a carnage in the financial markets, the Reserve Bank of India on Monday said it was ready to take any policy measure to mitigate the effects of the coronavirus outbreak on the economy. At an unscheduled press conference to assuage market participants, RBI Governor Shaktikanta Das also assured depositors of the beleagured Yes Bank that the reconstruction was aimed …

Will add liquidity if needed, RBI assures Yes Bank depositors
4 years, 9 months ago

Will add liquidity if needed, RBI assures Yes Bank depositors

The Hindu  

Describing the reconstruction scheme for Yes Bank as credible and sustainable, Reserve Bank of India Governor Shaktikanta Das on Monday sought to assure the private bank’s depositors that their hard-earned money is safe. Watch | Yes Bank crisis explained “It is a very credible and sustainable restructuring plan,” Mr. Das said while addressing the media here on the Yes Bank …

RBI Press Conference | Highlights
4 years, 9 months ago

RBI Press Conference | Highlights

India TV News  

Reserve Bank of India governor Shaktikanta Das is holding a press conference as market mayhem continues due to coronavirus pandemic concerns. The Reserve Bank of India governor Shaktikanta Das has announced two-step mechanism to fight the global effects of COVID-19 but he stops short from announcing any rate cut. Big announcements from RBI governor Shaktikanta Das Press Conference - Yes …

RBI asks NBFCs to adopt better tools to detect liquidity strains early
5 years, 2 months ago

RBI asks NBFCs to adopt better tools to detect liquidity strains early

Live Mint  

Reserve Bank on Monday asked the already fund-starved NBFCs to adopt better risk monitoring tools that capture the strains early on and also to maintain a liquidity buffer as per the mandated liquidity coverage ratio. It also asked NBFCs to segregate into granular buckets the 1-30-day time bucket in the statement of structural liquidity to 1-7, 8-14, and 15-30 days …

RBI not looking at liquidity facility for NBFCs: Dy Guv Vishwanathan
5 years, 3 months ago

RBI not looking at liquidity facility for NBFCs: Dy Guv Vishwanathan

Live Mint  

Mumbai: Reserve Bank of India has ruled out any special liquidity facility for Non Banking Financial Institutions saying there is enough in the system to meet their needs for borrowings and it is for the lenders to take a call on lending to the NBFCs. "Reserve Bank's position is that there is adequate liquidity in the system and it is …

Liquidity taps opened for banks and NBFCs
5 years, 4 months ago

Liquidity taps opened for banks and NBFCs

Live Mint  

The Centre will front-load its ₹70,000-crore capital infusion into public sector banks to nudge additional lending of ₹5 trillion, said finance minister Nirmala Sitharaman. Banks, said Sitharaman, have also decided to link their lending rates with the Reserve Bank of India’s repo rate, leading to lower EMIs for housing, auto and other retail loans. As part of the ₹1 trillion …

RBI governor Shaktikanta Das rules out asset quality review of NBFCs for now
5 years, 4 months ago

RBI governor Shaktikanta Das rules out asset quality review of NBFCs for now

Firstpost  

Mumbai: Even as he reiterated the regulatory resolve to not let any large NBFC fail, Reserve Bank governor Shaktikanta Das Monday ruled out ordering an asset quality review of the systematically important shadow banks for now. Addressing the press on the sidelines of the national banking conference being organised by the industry lobby Ficci, Das ruled out ordering an asset …

MSMEs seek urgent relief package from Nirmala Sitharaman
5 years, 4 months ago

MSMEs seek urgent relief package from Nirmala Sitharaman

Deccan Chronicle  

COIMBATORE: The Coimbatore District Small Industries Association has urged the Central government to come out with immediate measures to protect small industries from the impact of slowdown in engineering and automobile sector. In a representation to the Union Finance minister, Dr Nirmala Sitharaman, the industry body president, R Ramamurthy, said, “due to the present economic slowdown, there is a sudden …

Central bank opens liquidity tap to help stressed shadow banks
5 years, 5 months ago

Central bank opens liquidity tap to help stressed shadow banks

Live Mint  

The Reserve Bank of India on Wednesday announced two key measures to help stressed non-banking financial companies raise funds from banks. “Under the revised guidelines on large exposure framework that came into effect from 1 April 2019, a bank’s exposure to a single NBFC is restricted to 15% of its Tier I capital, while for entities in the other sectors, …

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