Why is the RBI harsh on Paytm Payments Bank? Why did it give Rana Kapoor of Yes Bank Ltd such a long rope?Often, it's a long investigation process, but the RBI doesn't discuss this openly since that can threaten financial sector stability, explains Tamal Bandyopadhyay.
After banks, it's the turn of housing finance companies to have a more transparent regime for pricing of loans. The National Housing Bank (NHB), the regulator for these companies, is working on a system that is similar to the base rate regime introduced for banks recently.
The companies have 90 days to deposit the money with Sebi, which has been tasked by the Supreme Court to return the money to the investors.
In May, MFs were the net sellers in several PSUs, as they deployed Rs 47,600 crore in equities during the month.
But their plea for fresh measures to boost their liquidity has not found favour with the National Housing Bank, which assessed their fund requirement in the last week of December. Sources at NHB said the measures initiated by the Reserve Bank of India appeared sufficient for the requirements.
The government, they said, will launch a mega drive, Viksit Bharat Sankalp Yatra, across all 2.7 lakh panchayats in the country to reach out to beneficiaries and enrol them.
The government and Reserve Bank of India are working on opening a massive Rs 75,000 crore refinance window to provide concessional funds for infrastructure, housing and small and medium enterprises by partly leveraging the country's foreign exchange reserves.
Housing finance regulator National Housing Bank will announce the guidelines for 'reverse mortgage' next month. This would allow senior citizens who own houses to have a regular stream of income for 15 years.
The number of active SIP accounts is nearing the 100 million milestone.
The Indian National Developmental Inclusive Alliance (INDIA) parties, led by the Congress, staged a walkout from both Houses of Parliament on Wednesday, in protest against all states except two being 'ignored' in the budget, an allegation termed 'outrageous' by Finance Minister Nirmala Sitharamanm, who said all the states never found a mention in any of the previous budgets, including those presented by the Congress.
Keeping up his tradition of celebrating the festival with soldiers, Prime Minister Narendra Modi visited Sir Creek near the Indo-Pak border in Gujarat's Kutch district and offered sweets to jawans.
US Vice President Kamala Harris, who is of Indian and African heritage, has formally secured the Democratic presidential nomination becoming the first Indian-American to win the nomination from a major political party, and chose Minnesota Gov Tim Walz as her running mate on Tuesday.
'An in-house contest encourages employees to share yoga and well-being practices with their families.'
The notice requested Rashid or a representative of his to appear before the district expenditure monitoring committee within two days to address the discrepancy and ensure timely submission of the expenditure report to the Election Commission of India.
Thousands of tourists visit this historic site where aviation began to pay homage to the Wright Brothers. Many of these visitors, including immigrants like myself, may never have come to this land or made it their home if not for the brothers' dream, which made the impossible possible, says Rediff.com US Contributor Abhijit J Masih.
The Reserve Bank of India (RBI) has permitted housing finance companies (HFCs) to raise up to $10 million through short-term foreign currency loans, like non-bank finance companies (NBFCs).
'Those betting against PSUs will likely be punished in this upswing.'
The last Friday prayers of Ramzan (Jumatul Vida) were not allowed to be held at the historic Jamia Masjid in Srinagar.
As required, Modi submitted the affidavit while filing his nomination papers Tuesday as an election candidate from the Varanasi parliamentary constituency, a seat he has held twice earlier.
Nationalisation has served its purpose. It's time to move ahead, keeping majority ownership of the government in a few banks to serve the people, argues Tamal Bandyopadhyay.
Households are likely to remain the primary net lenders to the economy in the coming decades.
"We are already restructuring viable accounts, which are facing temporary cash flow problems," says S Sridhar, Chairman & MD, Central Bank of India.
Bangladesh descended into chaos on Monday as Prime Minister Sheikh Hasina surreptitiously resigned and fled the country in a military aircraft while the Army stepped in to fill the power vacuum.
Private equity firm Carlyle Group and associates will acquire a controlling stake of over 50 per cent in PNB Housing Finance by investing in the Rs 4,000 crore preferential issue of equity and warrants of the Delhi-based mortgage lender. After the proposed transactions, expected to be completed by January 1, 2022, Carlyle will also have the right to nominate the chairperson of PNB Housing Finance (PNB HF). This right will continue as long as it holds at least 40 per cent of the share capital on a fully diluted basis.
The National Housing Bank plans to allow senior citizens to mortgage their residential property to a bank or a housing finance company while retaining the right to stay, with an aim to providing a steady income to them.
Senior government officials say that barring the National Housing Bank Amendment Bill, no major Bill -- not even the Banking Bill which the Cabinet has cleared -- will make it to Parliament by May 22, the last day of this Budget session.
'One of the aspects for transparency and fair governance is to give the industry being represented the chance of lobbying with the regulator.'
Tomato prices have been on the boil for more than a month. Data from major cities show that the spike has been between 125 and 150 per cent at the wholesale level. Soaring vegetable prices, including tomatoes, pushed the retail inflation rate to a nine-month high of 5.49 per cent in September, according to government data. Though reports say prices are expected to come down in the next few weeks after supplies improve from Madhya Pradesh and Himachal Pradesh, how long will the respite last is anybody's guess.
Congress President and Leader of the Opposition in Rajya Sabha Mallikarjun Kharge on Wednesday questioned Union Finance Minister Nirmala Sitharaman over the Union Budget and claimed that the plates of all states except Bihar and Andhra Pradesh were empty in the budget allocation.
'When honest, wealthy people come forward to serve India, people should feel proud and welcome them.'
You may not believe it but data show average real appreciation in residential property in urban India over 2007-14 was zero.
'If you were to say today that the government should appoint judges to the high courts and Supreme Court, then I think that even those few good judges that we are getting today we would not get them.'
In what could trigger another round of rate cut war, National Housing Bank on Wednesday slashed lending rates by 0.40-0.65 per cent just two weeks before the Reserve Bank of India announces its busy season credit policy.
Even as demand in the real estate market remains sluggish, Delhi and Mumbai have recoded property price appreciation of 33.3 per cent and 22.65 per cent, respectively.
The number of cities with property rates rising was down to six in the second quarter, against 12 earlier, according to the NHB index.
The Centre should privatise all public sector banks (PSBs), except the State Bank of India (SBI). This is because private banks have emerged as a credible alternative to PSBs with substantial market share. Also, government ownership hinders the ability of the Reserve Bank of India (RBI) to regulate the sector, according to a report by the National Council of Applied Economic Research (NCAER).
The new rate will be effective from December 8. The primary liquidity made available to the system through these measures is worth over Rs 3,00,000 crore (Rs 3,000 billion), RBI Governor D Subbarao said in Mumbai.
'It would be reasonable to assume that Modi 3.0 would be more focused on projects and schemes which do not require any legislative change or which have the support of its coalition partners,' asserts A K Bhattacharya.
Property prices in seven cities across India dropped by 2.63 per cent to 17.6 per cent during the January to March quarter, according to the latest data released by the National Housing Bank.
