RBI silent on allowing corporate entities to own banks, allows raising minimum holdings

MUMBAI: The Reserve Bank of India on Friday accepted most of the recommendations made by the Internal Working Group on review of ownership guidelines and corporate structure of private sector banks. The central bank has accepted 21 of the 33 recommendations made by the internal panel with some modifications. However, the central bank has put … Read more

Axis Bank and IndusInd Bank aim to raise Rs 4,000 crore

MUMBAI: Axis Bank is planning to use a window ahead of the RBI’s monetary policy next month to raise around Rs 4,000 crore in perpetual bonds and infrastructure bonds, indicating a reversal of the ultra-loose policy. Maybe, said three people familiar with the matter. Axis Bank aims to raise around Rs 2,000 crore through Additional … Read more

Axis Bank and IndusInd Bank aim to raise Rs 4,000 crore

MUMBAI: Axis Bank is planning to use a window ahead of the RBI’s monetary policy next month to raise around Rs 4,000 crore in perpetual bonds and infrastructure bonds, indicating a reversal of the ultra-loose policy. Maybe, said three people familiar with the matter. Axis Bank aims to raise around Rs 2,000 crore through Additional … Read more

All money taken from banks will be returned as the government is actively pursuing the cases of loan defaulters: Finance Minister Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman on Tuesday said all money taken from banks will be withdrawn as the government is actively pursuing the cases of loan defaulters, whether in India or outside the country. He said that the central government is working in close coordination with the Jammu and Kashmir administration to ensure that not … Read more

PM Modi asks banks to support money, job creators

Prime Minister Narendra Modi on Thursday urged banks to support money and job creators and work proactively to improve the country’s balance sheet. Modi said his government was using all channels, including diplomatic ones, to bring back high-profile economic offenders, leaving them with no option but to return. “It is time for you to support … Read more

Window necessary for surplus dollars: MNCs to RBI

Large multinational banks have impressed upon the Reserve Bank of India (RBI) on the need to open a ‘dollar placement window’ to absorb sudden foreign exchange inflows, and foreign exchange with T-plus-one (T+1) settlement Business hours have been extended. Expected inclusion of Government of India securities in stock exchanges and the Global Bond Index next … Read more