Reserve Bank of India (RBI) allowed Essar Oil to mop up a maximum of $2.2 billion through external commercial borrowings in order to repay partially its debt of $2.8 billion. The company is said to be in discussion with banks to raise the amount as it got the required approval. The company. however, has not finalized the amount to be raise
Tag: Reserve Bank of India
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Additional provisioning may hit PSBs
The earnings of public sector banks (PSBs) may take a beating in Oct-Dec 2012 quarter because of an additional provisioning of 0.75 per cent, as directed by the Reserve bank of India (RBI), analysts feel. Analysts expect private sector banks to post better earnings results during the quarter as compared to their public
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RBI takes steps to develop corp bond market
Reserve Bank of India (RBI) has taken two key steps to develop corporate bond market in the country. One among them is that these bonds are made eligible for repo (repurchase agreements) transactions in the money market. The repo deals can be struck on commercial pape
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RBI may soon release final norms on bank licences
Anand Sinha, Deputy Governor of the Reserve Bank of India (RBI) informed media persons that the central bank would soon release the final guidelines on new banking licences. He said this while speaking to reporters on the sideli
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RBI may soon release final norms on bank licences
Anand Sinha, Deputy Governor of the Reserve Bank of India (RBI) informed media persons that the central bank would soon release the final guidelines on new banking licences. He said this while speaking to reporters on the sideli
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RBI allows infra finance firms to borrow more via EBCs
Infrastructure finance companies can raise funds upto 75 per cent of their net worth through external commercial borrowing (ECB) without seeking clearance from the Reserve Bank of India (RBI). This is because the central bank liberalised the norm in or
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Rangarajan favours non corporates for bank licenses
Agency reports suggest that C Rangarajan, Chairman of Prime Minister's Economic Advisory Council wants the Reserve Bank of India (RBI) to give first priority to non-corporate applicants for banking licenses. Rangarajan has reportedly said that the central bank must look at various types of financial institutions that
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Stiglitz cautions against bank license to corporates
At a time when Reserve Bank of India (RBI) is planning to give banking licenses for new players, some experts caution against allowing corporates to set up banking business. Highliting the risk of conflict of interests, Nobel laureate Joseph Stiglitz said corporates should not be allowed to enter banking
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Restructured loan ratio rises in banking system
Data from Reserve Bank of India (RBI) suggests that the ratio of restructured to gross advances is at a five-year post-Lehman high of 5 per cent for the banking system as a whole. It may be recalled that in 2008-09, RBI allowed the “one-time” dispensation to restructure sub-standard asse
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RBI revises norms for lending to small units
In view of the increase in price index and cost inputs, Reserve Bank of India revised sub-targets for lending to the micro and small enterprises sector. According to the new norms, banks must divert 40 per cent of total advances to the sector to micro (ma