For the accounting year July-June 2012-13, the Board of Reserve Bank of India agreed to provide Rs 33,010 crore as dividend or surplus profit to the government. Market participants expected a dividend payout of Rs 33,000-35,000 crore. The RBI follows a July to June accounting year. In the previous year, it paid a dividend of Rs 1
Category: Infrastructure Finance
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S&P expects banks’ performance to be under stress
A report from Standard & Poor’s (S&P) warned that the declining asset quality of banks in India would affect their performance adversely. Recently, the global credit rating agency released the report titled “Slack Economic Growth Dents Recovery Prospects for Indian Bank. In the next 18-24 months, the Indian banking sector may not recover because of sluggish economic activity and
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S&P expects banks’ performance to be under stress
A report from Standard & Poor’s (S&P) warned that the declining asset quality of banks in India would affect their performance adversely. Recently, the global credit rating agency released the report titled “Slack Economic Growth Dents Recovery Prospects for Indian Bank. In the next 18-24 months, the Indian banking sector may not recover because of sluggish economic activity and
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FSDC panel discusses stability of financial system
The sub-committee of Financial Stability and Development Council (FSDC), chaired by RBI Governor D Subbarao met recently to discuss potential risk to stability of the domestic financial system. The sub-panel expressed concern on the deteriorating asset quality of public-sector banks and discussed corrective measures for
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HDFC Bank hikes base rate by 0.2%
With effect from August 3, India's leading private sector lender HDFC Bank raised the base lending rate to 9.80 per cent from 9.60 per cent. The bank has reportedly raised interest rate on the back of RBI measures to contain volatility in rupee exchange rate and increase in short term deposit
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IRDA revises lending norms of insurance firms
The Insurance Regulatory and Development Authority (IRDA) decided to exclude lending by insurance firms to housing finance companies as exposure to the finance sector. In a statement, the insurance regulatory body said these loans would be henceforth treated as funding to the hous
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State-run banks asked to do due diligence themselves
State-run banks have been asked to conduct due diligence of their own on the company or projects it intends to lend instead of the existing practice of relying on lead banks. Union finance ministry asked state-run banks that sanctions loan to sign on the dotted line only when they are satisfied with the appraisal.
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Indian rupee may trade in 58-62 range
Indranil Sen Gupta, India Economist at DSP Merrill Lynch (India) expects the Indian currency to trade in the range of 58-62 against the US dollar at the cost of 50 basis points of economic growth. This assumes that the July 23 measures are reversed before the busy October-March season, Gupta
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23.13 million tonne of cargo handled in the current financial year
Paradip Port Trust has handled 6.13 million tonne of cargo during July 2013 as compared to 4.45 million tonne handled during July 2012 reporting 37.66 per cent growth y-o-y basis.
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Central Bank of India to add 23 branches in coastal AP
During the current financial year, the Central Bank of India is to add 23 more branches in the coastal Andhra Pradesh, said Balakrishnan, the bank Field General Manager in charge of Karnataka and Andhra Pradesh. He added that the bank was competing with the new generation private banks in providing services to customers. Balakrishnan said this in Visakhapatnam on August 7 after opening the bankÂ’s 75th retail asset branch in the country.