[ad_1] MUMBAI: Amid falling bond prices, hike in off-cycle rates in May and huge valuation losses, the high road banks They are caught in a debate whether to seek help from the regulator to mitigate this shock in the first quarter of the current financial year. Several banks met last week to discuss possible representation of the Reserve Bank of India (RBI) to allow them to reduce ‘mark to market’ (MTM) losses. bond holdings in the first quarter of the full year. such discount. permitted by reserve Bank of India…
Tag: banks
Recession: Central banks take tough inflation-recession measures
[ad_1] Central banks intensify their fight against fugitives inflationA necessary measure that can have adverse side effects of carrying countries recessionAnalysts say. just last week, US Federal Reserve announced its biggest interest rate hike in nearly 30 years, followed by its fifth consecutive hike by bank of england And for the first time in 15 years in Switzerland. “It was the first week. It was the craziest in my experience,” said Frederic Ducrozet, chief economist at Pictet Wealth Management. The move caused a stir in stock markets as investors fear…
FD Rates: Corporate FD rates go up, offer 175-300 bps higher than some banks
[ad_1] Mumbai: Leading finance companies Have started raising interest rates on its deposits as the Reserve Bank of India has signaled a tough monetary policy in the coming months in view of the pick-up in inflation. HDFCAnd PNB Housing Finance It has increased its deposit rates by 10-25 basis points across various tenors, but analysts say investors should wait more before locking their money into longer tenures. “Even though companies have increased deposit rates several times, the quantum of increase in individual sectors is low in the range of 10-25…
Top banks of India, Russia to work on payment system this week
[ad_1] Reserve Bank Officials India ,reserve Bank of India) and Bank of Russia People familiar with the matter told ET that the two countries are set to meet this week to finalize a bilateral payment system to ensure smooth trade flows without violating global sanctions. Russia is facing more stringent sanctions after it invaded Ukraine in late February. Loro ya. The two sides will meet to discuss payment solutions such as nostro accounts, The first is a third-party account, where one bank maintains an account for another bank in a…
Stocks: Banks, Auto and IT Top buys by fund managers in May
[ad_1] Large mutual funds buy shares of lenders, automobile manufacturers and select stocks This Companies in May as they stuck to the beat shares Amid uncertainty over the near-term market outlook. In May, the Nifty fell 3%, partly due to selloff in IT stocks that are down an average of 20-25% from their highs. some fund manager Lower price levels are used to buy stocks such as And . Fund managers also bought underperforming auto like stock and Mahindra & Mahindra where growth has been muted due to chip shortages,…
CRR: Banks don’t want liquidity to fall, urge RBI not to carry forward CRR
[ad_1] Indian lenders have requested Reserve Bank of India (RBI)reserve Bank of India) not to increase the cash reserve ratio further (CRR) in the next threshold Monetary policy To ensure uninterrupted credit growth amid a clear reduction in surplus liquidity since early May, two people aware of the representations told ET. The Indian Banks’ Association (IBA) requested the central bank on behalf of lenders last week after additional liquidity fell to around ₹3.5 lakh crore – nearly half the amount retained by the RBI through the pandemic. “Earlier, the surplus…
Public sector banks will prepare a road map for 3 years under the new initiative
[ad_1] Every public sector bank will have to prepare a three-year road map based on its business priorities, as part of a remedial reforms initiative launched by Finance Minister Nirmala Sitharaman on Wednesday. EASENext, the latest and revised version of the EASE (Enhanced Access and Service Excellence) reform program for PSBs, will have two components: EASE 5.0, a common reform agenda for all PSBs, and a bank-specific medium-term action plan . , Under EASE 5.0, state-run banks will continue to invest in new-age capabilities and deepen ongoing reforms to respond…
Finmin says first set of NPAs likely to be transferred to bad banks next month
[ad_1] The Finance Ministry on Monday said the Rs 6,000-crore National Asset Reconstruction Company (NARCL) or bad bank may acquire the first set of non-performing accounts of banks next month. NARCL is a Special Purpose Asset Reconstruction Company for taking over large value NPA accounts (over Rs 500 crore) from banks. In a series of tweets, the ministry said that Finance Minister Nirmala Sitharaman on Monday reviewed the progress in setting up NARCL. The Minister was apprised of the progress achieved and noted the approvals/permissions received for both NARCL and…
Banks see a boom in capex loans
[ad_1] With the demand for project finance picking up since late last year, bankers believe that the long-term fund requirement should rise anywhere between 12-15% this year. Bank credit deployed in the infrastructure segment grew 10.2% year-on-year in April 2022, with roads, telecom and electricity leading the pack. According to the Reserve Bank of India, the outstanding credit to the sector stood at Rs 12 trillion by the end of March.reserve Bank of India, As a result, banks are now gearing up to meet the demand for infrastructure projects in…
How do banks calculate interest on savings account and FD in India in 2022?
[ad_1] saving account The most widely used account is to park your savings. Withdrawal flexibility is what makes it the most preferred account. And Fixed deposit Popular in terms of returns. But most of us do not know how the interest is calculated on these accounts. Let us see how banks calculate interest on savings accounts and fixed deposits to get a better understanding of the return on money saved in a savings account. How do banks calculate interest on savings account? As per the guidelines issued by the Reserve…