A Greyhounds jawan sustained injuries, following which he was airlifted to Warangal and admitted to a hospital.
The Reserve Bank on Friday took steps towards normalisation of liquidity management to pre-pandemic levels, with the introduction of the standing deposit facility (SDF) as the basic tool to absorb excess liquidity, and narrowing the liquidity adjustment facility (LAF) to 0.50 per cent from the 0.90 per cent. Governor Shaktikanta Das said the SDF will be at 3.75 per cent, 0.25 per cent below the repo rate and 0.50 per cent lower than the marginal standing facility (MSF) which helps the banks with funds when required. The SDF has its origins in a 2018 amendment to the RBI Act and is an additional tool for absorbing liquidity without any collateral.
Talks of a merger between HDFC Bank and parent HDFC Ltd had gained steam nearly eight years ago, when the Reserve Bank of India allowed banks to issue long-term bonds to fund infrastructure and affordable housing. At that time, key executives at both entities denied any such proposal. And today, the merger has been officially announced by the two players.
India's current account deficit is expected to deteriorate in the current fiscal on account of costlier imports and tepid merchandise exports, according to the Finance Ministry's monthly economic review. The review released on Thursday by the ministry also said that global headwinds would continue to pose a downside risk to growth as crude oil and edibles, which have driven inflation in India, remain major imported components in the consumption basket. For the present, it said, "their global prices have softened, as fears of recession have dampened prices somewhat. This would weaken inflationary pressures in India and rein in inflation."
Retail depositors are earning negative returns on their bank deposits and hence, there is a need for reviewing taxes on interest earned, economists at the country's largest lender SBI have said. If not for all the depositors, the taxation review should be carried out for at least the deposits made by senior citizens who depend on the interest for their daily needs, the economists led by Soumya Kanti Ghosh said in a note, which pegged the overall retail deposits in the system at Rs 102 lakh crore. At present, banks deduct tax at source at the time of crediting interest income of over Rs 40,000 for all the depositors, while for senior citizens the taxes set-in if the income exceeds Rs 50,000 per year.
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
Six members, including three women, of the outlawed Communist Party of India (Maoist) were killed in an alleged exchange of fire with the elite Greyhounds of Andhra Pradesh Police in Visakhapatnam district on Wednesday, while a fierce gunbattle took place between security forces and Maoists in neighbouring Odisha's Malkangiri district.
The security forces had launched a cordon-and-search operation at Hanjin village in the Rajpora area of Pulwama following information about the presence of the terrorists there, a police official said.
No make-up or hair products, and no access to my wardrobe... Aditi Rao Hydari talks about shooting her first digital cover in the lockdown.
The RBI's reluctance to cut rates should be seen as a case of inability in the face of inflation.
HDFC and HDFC Bank's merger - touted as India's biggest-ever corporate merger - pumped up shares of the two entities on the bourses. Shares of Housing Finance Development Corporation (HDFC) skyrocketed 9 per cent while those of HDFC Bank zoomed 10 per cent. In comparison, the benchmark S&P BSESensex and the Nifty50 indices settled 2.2 per cent higher on Monday.
During the fourth quarter (January-March), banks step up the activity to meet annual targets. This leads to a race to raise funds from markets often by jacking up deposit rates. This time around, the market has not seen such trend yet.
Bankers on Tuesday said the RBI's decision to hold key rates, coming after a decisive mandate received by the Narendra Modi government, was on expected lines and interest rates won't change even though the central bank's SLR cut infuses additional liquidity into the system.
The skirmish took place around 5.30 am in the forest at Kotmi in Etapalli, where the Naxals had gathered for a meeting, said Sandeep Patil, Deputy Inspector General of Gadchiroli.
This is the second encounter in the district in as many days.
Falling for the fourth day in succession, the rupee today dipped by 23 paise to close at nearly three-week low of 59.38 against the dollar amidst the RBI announcing an SLR cut that is expected to release nearly Rs 40,000 crore into markets.
.jpg)
Currently, the cash reserve ratio is pegged at a low of 4 per cent, while statutory liquidity ratio that includes securities such as government bonds, stands at 23 per cent, down from 25 per cent in 2010.
The country's two biggest state-run lenders on Saturday pitched for treating a portion of their gold deposits as part of the mandatory cash reserve ratio (CRR) or statutory liquidity ratio (SLR), both of which banks consider as non-productive.
With the widespread use of new technologies, inter-connectedness and dependency, newer risks, threats and vulnerabilities have emerged.
Reserve Bank Governor Raghuram Rajan is widely expected to hold the key rates citing high inflation at the fourth bi-monthly monetary policy announcement on Tuesday, even though the pro-growth lobby has been wishing for a rate cut.
One of the slain terrorists was pursuing Bachelor of Physiotherapy.
Next bi-monthly policy statement on September 30.
.jpg)
The right sequence would be to gradually reduce SLR
The 30-share Sensex surged 185 points to end at 25,908 and the 50-share Nifty ended up 63 points at 7,747.
Militants snatched two SLR rifles from policemen guarding the minority picket in Tumlahaal village in Lassipora area of Pulwama.
While the IT stocks traded firm since the start of the day, the BSE IT index soared to a 10-year high.
RBI said inflation in the second half of the current fiscal is projected at 2.7-3.2%. It retained its GDP forecast for the current fiscal at 7.4%
15 people injured; those with minor injuries were provided an immediate compensation of Rs 5,000, and one with serious injuries was given Rs 25,000.
The repo rate has been unchanged since January, when the RBI increased it by a quarter percentage point.
Financial markets are under stress and require steps by the central bank for market stability and revival of economic growth, he said while announcing the decisions taken by the Monetary Policy Committee in Mumbai.
CoBRA commando Rakeshwar Singh Manhas went missing after the April 3 ambush in Chhattisgarh's Bastar region.
The box of hand grenades had been attached with a wooden frame and was lowered from the drone to the ground with a nylon rope, said police, adding that they recovered it on Sunday evening.
'Q1 is going to bear the brunt of the second wave, exposing full-year GDP forecasts to downward revisions, unless phase-3 of vaccination is executed quickly.'
The most pressing issue facing the financial sector is the rising stock of non-performing assets in the banking system
The total quantum of non-performing assets in the Indian banking system increased to Rs 7.33 trillion as of June 2017, from Rs 2.75 trillion in March 2015.
A bit of good news is that it has already mopped up $19 billion in forwards in May.
Hand the beautiful Shriya Saran a camera and the unexpected happens.
Two magazines with 20 live cartridges were snatched from two constables by protestors who also damaged vehicles and robbed anti-riot gears during the violence at Red Fort on Republic Day, according to the first information report (FIR) filed in connection with the incident.
Leeway on CRR and SLR was a long-standing demand from banks, which the RBI did not agree to till recently.
Banks have asked for an exemption of statutory requirements such as the cash reserve ratio (CRR) and the statutory liquidity ratio (SLR) for lending to the infrastructure sector. While the CRR is a tool where banks have to set aside liquidity with RBI in proportion of the deposits mobilised by them, the SLR requires banks to invest 25 per cent of their liabilities in government securities to generate instant liquidity.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances