In an interview to a news agency, Finance Minister P Chidambaram remarked that Reserve Bank of India (RBI) would take a decision on reducing policy rate after taking into consideration the fiscal moves of government. On March 19, the central bank would release mid-quarter review of monetary policy. Shifting its focus from infla
Tag: RBI
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Shriram Group mulls foray into banking business
With the Reserve Bank of India (RBI) releasing guidelines for new bank licenses, a slew of industry conglomerates are interested to make a foray into banking business. One among them is the Chennai-based Shriram Group, promoted by R Thyagarajan. The group, which is one of the contenders for a banking licence, said it want
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Indian banking sector has less systemic risk
Industry players feel that the systemic risk in the Indian banking sector is muted because of the existence of many medium and small size banks. It may be noted that systemic risk arises when there are large-sized or too big to fail banks. However, in India, many banks are medium and small-sized and hence there is less risk of inter-connectedness, indu
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India Inc’s overseas borrowing rises in January
Data from Reserve Bank of India (RBI) shows that overseas borrowing of Indian companies rose to $3.51 billion in January from $1.15 billion in the previous month. The companies raised the amount through external commercial borrowings (ECB) and foreign currency convertible bonds (FCCB). In order to fund its projects, Power Grid Corporation of In India Inc raised over $ 3.51 billion from overseas markets in January through external commercial borrowings and foreign currency convertible bonds.
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Angel expects banking license norms to be a game changer
Angel Broking feels that the final new bank licensing guidelines released by the Reserve Bank of India (RBI) are potentially game-changing for the banking sector. The brokerage firm expects six to eight very serious corporates, with deep-pockets (far more than was earlier being anticipated), may get a banking license
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RBI has limited room for policy easing
In an interview to a leading media, Reserve Bank of India (RBI) Governor D Subbarao remarked that the roon for monetary easing is limited over the next few months because of the outlook for inflation and outlook for growth. He said the central bank would take into account the fiscal consolidation measures and deficit projections by the finance minister in the coming Budget to decide on t
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Demand for steel expected to recover
According to media reports, the TATA Steel expects demand for steel to revive following the reform measures taken by the government and also the recent monetary policy easing by the Reserve Bank of India (RBI). The company feels that currently, demand for steel remains sluggish with many infrastructure projects that have achieved financial closure not taking off. He said that besides steel demand from the automobile sec
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Demand for steel expected to recover
According to media reports, the TATA Steel expects demand for steel to revive following the reform measures taken by the government and also the recent monetary policy easing by the Reserve Bank of India (RBI). The company feels that currently, demand for steel remains sluggish with many infrastructure projects that have achieved financial closure not taking off. He said that besides steel demand from the automobile sec
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Care expects banks to recast Rs 577 bn worth loan
According to a report by ratings agency Care, banks in the country would restructure new loan worth Rs 57,782 crore and this would raise the total recast loan book to Rs 312,022 crore next fiscal (2013-14). The report expects banks to carry out most of the restructuring in pipeline during the fourth quarter of this fiscal and through next fiscal if the draft RBI guidelines on re
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Care expects banks to recast Rs 577 bn worth loan
According to a report by ratings agency Care, banks in the country would restructure new loan worth Rs 57,782 crore and this would raise the total recast loan book to Rs 312,022 crore next fiscal (2013-14). The report expects banks to carry out most of the restructuring in pipeline during the fourth quarter of this fiscal and through next fiscal if the draft RBI guidelines on re